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79602 : Real Estate Advice

  • All9
  • Local Info0
  • Home Buying4
  • Home Selling5
  • Market Conditions0

Activity 9
Fri Jul 8, 2016
Mitz308 asked:
Tue Jan 26, 2016
Karen Peyton answered:
I'd go for it! Speak with a lender for an explanation of mortgage loans and down payment requirements, get pre-qualified, choose an agent, and see where it leads...hopefully to the front door of you new home!

Best of luck!
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1 vote 1 answer Share Flag
Sat Jan 2, 2016
Amelia Robinette answered:
you generally cannot roll renovations into a purchase mortgage loan.

a few exceptions are the FHA 203K purchase mortgage, which allows you to borrow some extra for fixing up. this is a detailed and specific type of loan product, so make sure you have a loan officer with deep experience in 203Ks. The other is a construction loan, but they usually require a large down payment, so probably not an option for you if don't have a lot of cash on hand.

the other option is to find something that's livable, but has lots of potential. save as you go and do projects as you have the cash available.
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1 vote 1 answer Share Flag
Thu Apr 23, 2015
Hollie Truesdale answered:
I think it would take a lot of work to determine the market value of your home without an appraiser! You could look up similar houses to yours or houses in your area to see what they're going for to get an idea of how much your house is worth. That's assuming that the houses in your neighborhood are all relatively the same value and someone hasn't done extensive remodeling to make their house a lot nicer. http://www.eastcoastappraisal.com ... more
0 votes 10 answers Share Flag
Sun Jan 11, 2015
The Graveline Group answered:
First question, have you contacted a local lender to see where you're at? The best place to start is there. A local lender will give you direction and a plan to get to where you want to be. If you need referral, start with a local Realtor. Realtors must adhere to the code of ethics, offering you consumer protection and piece of mind. You can search right on Trulia under the agent directory to find one. ... more
0 votes 1 answer Share Flag
Sat Sep 21, 2013
Tina Lam answered:
If you're looking for a property to buy, you'll need to contact a Realtor. Real State Attorney won't have any idea what to show you.
0 votes 2 answers Share Flag
Mon Apr 22, 2013
answered:
FHA allows for alternate credit to be used.... verify rent and utilities, ect.

I actually do this loan in-house. Close and fund locally.
I have done many of these....
You get the same great rates as someone woth an 800 credit score.


Tom Burris
Mortgage Banker
http://www.servicefirstmckinney.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
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0 votes 3 answers Share Flag
Thu Aug 5, 2010
Randy Dodd answered:
True That, Find a Realtor.
Thats been a dead post for about a year posted in April 2009
0 votes 16 answers Share Flag
Sat Jun 26, 2010
Peter answered:
0 votes 8 answers Share Flag
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