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Home Buying in 60617 : Real Estate Advice

  • All19
  • Local Info1
  • Home Buying7
  • Home Selling5
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Activity 7
Thu Apr 28, 2016
Nicoleedwards31 asked:
If I had fha loan 14yrs ago..Am I considered a new homebuyer if the 2nd home will be my primary home?
0 votes 0 Answers Share Flag
Thu Feb 26, 2015
Matt Laricy answered:
I would always discuss directly with an accountant on these issues. I think it is very personal and can lead to the best advice.
0 votes 4 answers Share Flag
Thu Aug 21, 2014
Matt Laricy answered:
Thu Mar 21, 2013
Joanna Weiss answered:
Yes, he will need to wait 6 months, because it would be condisered a cash out mortgage. This requires a 12 month chain of title. Basically, the lender will check the ownership of the property for the last 12 months to see that he has been on title for at least 6 months. I would be happy to help him secure a mortgage. Joanna Weiss 773-327-3580 ... more
0 votes 9 answers Share Flag
Mon Mar 18, 2013
Robert Chomentowski answered:
On any loan with 2 borrowers the lender will use the lower of the two borrowers credit scores. 530 is too low. What is bringing his score down? Many times there are things that can be done to quickly raise a credit score. It is possible to do the VA loan if we can his score up to 600. Alternatively, can you qualify on your own? ... more
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Mon Mar 18, 2013
Joe Schiller answered:
your wasting your time.. a few years from now you might get your way..it's a big city..move on
0 votes 12 answers Share Flag
Thu Jun 25, 2009
Marc Jacobs answered:
Of Course I may be biased, but I think a broker is your best choice. A bank has very rigid guidelines, and unless you fit into the whole perfectly, you will eihter not get approved or have a higher rate. While I am a broker, my company banks some of its loans. We use Chase Wholesale to do this, I can typically offer better rates than a Chase Branch could.

Nonetheless, you should do your homework. Contact a broker and banker and compare their products and prices. Make sure to ask for a copy of the Good Faith Extimate for reference.
... more
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