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75134 : Real Estate Advice

  • All14
  • Local Info1
  • Home Buying7
  • Home Selling1
  • Market Conditions0

Activity 12
Mon Dec 4, 2017
Frank S. answered:
Why rent to own if you may qualify to buy and own. Most rent to own are risky and want 10-15% down which is non refundable as well as annual increase in rent until you qualify. You may already qualify to buy with FHA financing. FHA financing allows old collections on your reports.

If you have low fico score between 500-579 you may consider 10% down FHA and a minimum 580 fico score may consider 3.5% down FHA. If you have a minimum 620 fico score you may consider 3% down conventional.

Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the purchase.

You should study RENT vs BUY listings to compare payments and qualifications. Lenders can not discriminate by past criminal history. You may qualify to buy and pay less than rent in TX. Check out the RENT vs BUY web reference link below...
... more
0 votes 2 answers Share Flag
Tue Oct 24, 2017
Zyre Sullivan answered:
We have a lease with the right to purchase program where we purchase homes in the top 50% of schools and lease them to you until you can get a mortgage. I would be glad to discuss in further detail. ... more
0 votes 10 answers Share Flag
Fri Dec 18, 2015
Zyre Sullivan answered:
It sounds like you would prefer a bigger back yard. DO NOT SETTLE! Mortgages are a 15 to 30 year investment in which you need to be pleased with your purchase. Allow me to send some properties to your email so that you can weigh your options before you make a decision. ... more
0 votes 4 answers Share Flag
Fri Dec 18, 2015
Zyre Sullivan answered:
Many sellers will consider accepting an all cash offer that was slightly under asking price so that they will not have to worry about the possibility of financing not going through. How much they will consider would depend on the market conditions in the area such as comparable sales prices and days on the market. ... more
0 votes 3 answers Share Flag
Tue Sep 8, 2015
Michael Abramsky answered:
According to the FHA, those who have only owned a mobile home not permanently attached to a foundation are also considered first-time home buyers.

Speak to a loan officer in your state to confirm that your husband qualifies for the program. ... more
0 votes 1 answer Share Flag
Wed Nov 26, 2014
Brenda answered:
Hi Dee Dove, I am a licensed Realtor in the Dallas area and would be happy to help you and your family find a rental property that better accommodated your family. My service is free to you. Please feel free to contact me direct at brendah@loganwaller.com to give more details of your needs.

GOD Bless!
... more
0 votes 2 answers Share Flag
Mon Jul 9, 2012
Don Groff answered:
Guy is totally correct. The seller does not have to do any repairs regardless of your financing requirements. While most buyer's and seller's work together to keep things moving forward all repairs have to be agreed upon by all parties.

In your case there do not even appear to be any homes where you have that option. When one does come on the market you may have more ability to get the seller to make necessary repairs due to what they are competing against and a willing buyer may be harder to come by. It all depends on the market. In the Austin area we are slowly moving towards that of a seller's market where willing buyer's may not have as much ability to force a seller to make necessary repairs as there are more willing buyers on properties that are priced correctly and in generally good condition.

Best of luck to you.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | www.AustinListed.com
... more
0 votes 2 answers Share Flag
Tue Jun 5, 2012
Don Groff answered:
Hello Boricua,

You sure can and you should definitely look into it. I am also a mortgage broker and 30 year rates are in 3% range currently depending on the type of loan.

Feel free to call or email me with your details and I can send you a GFE. I'm a Tier 1 Broker with Wells Fargo and many other lenders. My rates and fees are substantially lower than dealing directly with any of the retail banks. Their fees and rates are always considerably higher than what I can offer my clients.

Best of luck to you.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | www.AustinListed.com
... more
1 vote 6 answers Share Flag
Fri Jun 1, 2012
Don Groff answered:
Hi JG,

I am a Reattor and licensed Mortgage Broker. Currently my FHA streamline refinance rates at 3.75% would pay you a rebate of over 3% points. Most other lenders offer this same rate but you do not get such a large credit. So in other words your closing costs would be a negative number or a credit. All costs paid at 3.75% or you can go to 3.5% with a smaller credit.

Example on $150,000 refinance

My total lender fees total $665 plus your title fees that are the same with everybody. At 3.75% you would get a lender credit of $4,590. That would cover your lender and title fees and part or all of your required escrows. So you could essentially not have to bring one penny to closing.

If you would like a GFE please give me a call or email me directly. I wholesale lend through the big lenders like Wells Fargo but they cannot offer the same rebates as I can on the retail level.

As an added bonus my clients receive a one time free float down on all loans. Should rates drop after you lock we can float you down at no cost to you. Most lenders do not allow this after you lock or they charge a fee. With my Tier 1 broker status my clients do not pay anything to float down to a lower interest rate.

If you have any questions on this please give me a call.

Best of luck to you.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | www.AustinListed.com
... more
0 votes 8 answers Share Flag
Sun Jul 4, 2010
Debbie & Steve Parramore answered:
Cynthia,
It appears that Choice Homes was the builder in that subdivision. Give me a call if you have any further questions or questions about a particular home in that area.
0 votes 2 answers Share Flag
Fri Feb 19, 2010
Christian Munive answered:
Hello, there is no rule that can’t stop you from selling your own home, but the builder may have something on the purchase contract that keeps home owner from competing with them at the same time. I would advise you to check over the purchase contract and see if there is anything in writing that prevents you from selling it within a certain time. ... more
0 votes 7 answers Share Flag
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