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60661 : Real Estate Advice

  • All8
  • Local Info0
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 6
Jerry Jenkins, Real Estate Pro in Henderson, NV
Sat Mar 26, 2016
Jerry Jenkins answered:
An 80% loan to value that you are talking about is still done to avoid Mortgage Insurance which is an extra charge you pay to protect the lender if you default. There are lots of loan option today that vary from 0 down, mostly VA loans for military service personal, to 3.5% down FHA loans that charge MI, to conventional loans with 5, 10, or 20% down payment options.
I would recommend calling a few Lenders in your market to see what type of loan fits your situation, income, and credit score so you know what your options are and what the cost of each loan type would be.
There are also Grant Money loans that might gift you up to 4% to help cover down payment or closing costs. One is called Home Is Possible so google it in your are to learn more.
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0 votes 2 answers Share Flag
Bill J Delig…, Real Estate Pro in Naperville, IL
Tue Sep 24, 2013
Bill J Deligiannis answered:
Tenants in Common
0 votes 5 answers Share Flag
Daniel Mirea, Real Estate Pro in chicago, IL
Mon Sep 23, 2013
Daniel Mirea answered:
0 votes 10 answers Share Flag
Michael Vrie…, Real Estate Pro in Chicago, IL
Tue May 29, 2012
Michael Vrielink Team answered:
It is free, and a great way to showcase your home!
1 vote 6 answers Share Flag
Michael Vrie…, Real Estate Pro in Chicago, IL
Fri Mar 9, 2012
Michael Vrielink Team answered:
Correct. I've worked closely with Neena Vlamis and A&N mortgage to get buildings fully approved. Her team does a phenomenal job.
0 votes 20 answers Share Flag
Michael Cline,  in Chicago, IL
Sun Mar 7, 2010
Michael Cline answered:

Just some info for you to be aware of...FHA is making some changes soon that may impact your pre-approval, such as a higher fees and less seller concessions. Rules are changing so frequently that you should have your lender/broker review the pre-approval periodically. Especially if your time frame is 6 months. You never may be approved today, and denied tomorrow. Good luck house hunting!

Michael Cline
Enterprise Mortgage
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0 votes 13 answers Share Flag
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