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29302 : Real Estate Advice

  • All4
  • Local Info0
  • Home Buying2
  • Home Selling0
  • Market Conditions0

Activity 2
Tue May 2, 2017
Kathy Burgreen answered:
Lenders do not write mortgage loans under $80,000. The cost is not worth it and lenders will lose money. The alternative is private loans but they charge high interest rates of about 20 - 30% and they are designed for short term use.

Most listings that have prices under $50,000. expect the buyer to pay 100% cash - no loans involved. You need to save up some money and buy a home the regular way. This is what happens when you vote for the wrong President.
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Thu Apr 17, 2014
Renee Broach answered:
Hi Michelle,
While each lender has their own specific guidelines, you may be able to qualify using just the credit (and income) of the highest scoring buyer. Please give me a call; I'd love to assist you in determining the best possible option for the scenario you're discussing. My office also is able to assist with credit repair, and we have had many proven successes with our methods.
Thanks so much!
Renee' Broach
Mortgage Loan Officer
MLD Mortgage
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