USDA loans are great, for buyers in areas that qualify and who fit USDA's income restrictions, You can't currently own a home, make too much money, or have too high of debt ratios. I write USDA loans anywhere in America, certainly glad to discuss them further with you! Thanks, Ted... more
LENDERLINE is offering Stated Income Verified Assets (SIVA) loans at up to 80% loan-to-value in California only. Guidelines are as follows:
â€¢ Purchase, rate and term refinance, and cash-out refinance allowed.
â€¢ Single family residences, PUDs, condominiums, and 2-4 units allowed.
â€¢ Primary residence, second homes or investment properties allowed.
â€¢ U.S. citizens, permanent residents, and foreign nationals allowed.
â€¢ No prepayment penalty.
â€¢ Up to 80% LTV maximum. LTV is based on occupancy and loan amount.
â€¢ Up to $2,000,000 loan amount. Maximum loan amount is based on purpose of loan and occupancy.
â€¢ 700 minimum credit score for U.S. citizens and permanent residents.
â€¢ No credit scores are required for foreign nationals.
â€¢ No rental late payments during past 12 months.
â€¢ No mortgage late payments during past 24 months.
â€¢ No history of NOD, foreclosure, short sale, bankruptcy, or repossessions.
â€¢ No unpaid judgments, liens, or collections.
â€¢ Income stated on loan application must be reasonable for the position of employment.
â€¢ No tax returns, paycheck stubs, W-2, 1099 or 4506-T will be required.
â€¢ Self-employed or W2 allowed.
â€¢ No industry exclusions.
â€¢ Debt-to-income ratios cannot exceed 45%.
â€¢ Employment must be verifiable by a CPA or IRS enrolled agent (for self-employed) or verbal verification of employment (for W2) with no reference to income.
â€¢ 100% of the down payment may be gifted for primary residence.
â€¢ 6 months PITI reserves are required. Reserves must be seasoned for 2 months and come from borrowerâ€™s own funds.
â€¢ The SIVA loan program is available in every County in the State of California.
For more information contact:
5000 Birch Street, Suite 3000
Newport Beach, CA 92660
Toll-Free: (888) 661-7888
Website: www.lenderline.com... more
First of all, I am sorry for your loss. I know it is not an easy to sell a loved ones home.
All of the advise given to you is correct. The buyer is responsible for his/her own inspections, property can be sold as is with a right to inspect, you can provide a home warranty, and you can fill out the disclosure and make it known that you never occupied the home and do not know many of the items on the checklist. All of these will help protect you after the sale of the home.
Another recommendation I would have is to have a home inspector go through the home before you put it on the market. That way, you can elimate surprises when it comes time to sell the home. It can also prepare you for any requests that might come from a buyer when he/she has their own inspector go through the home or you may elect to go ahead and eliminate the problem by repairing it yourself prior to a buyer coming in an identifying a problem.. Once you get the home on the market, your Realtor can help you in putting a home warranty on the home during the time that it is on the market. This warranty will also extend to the buyer and give them a sense of security just in case something happens the first year after the purchase of the home. Also, if you list with ERA, having these things in place (along with a couple more small requirements) would qualify you for Gold Star Listing status. I can give you more information about what that means and how it will help in the marketing of your home.
When you are ready to list, give me a call, I would love to do a marketing presentation for you.
Pam Mathis, Realtor
ERA Neubauer Real Estate... more
You can fill out a seller's disclosure to the best of your knowledge. If you don't know an answer, just check "don't know". Make sure you have a great agent helping you with all of the disclosures you'll need. If you need a recommendation for one there please let us know.
Jen and Mark Bowman
Keller Williams Realty
I'd put money on the CRA areas becoming more popular due to improvements.
AND since it's tax money thats making these improvements, we are all putting our money on it.
There are 4 CRA's (Community Revitalization Area) in Panama City.
With rough economic times these will be the heartbeat of progress, maintanence and growth.
These areas engross Downtown, St. Andrews and Millville and they all contain very affordable properties.
Some are zoned for multi-use, so they have to potential to be offices and many are surrounded by medical, legal and/or professional offices.
Others are multifamily properties, such as a duplex or triplex, which can produce an income for you and help you pay for your property.
Ideally, you'll be close to work and in these areas, you'll also be able to walk to festivities, parades, shops, restaurants and, best of all, the water!
Melana 814-2235... more