Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Albuquerque : Real Estate Advice

  • All471
  • Local Info32
  • Home Buying155
  • Home Selling43
  • Market Conditions18

Activity 18
Thu Mar 16, 2017
answered:
Hello, I'm a mortgage professional.

Yes, you can buy another house with a VA loan.

VA loans require no down payment.

If you would like help with this or have any questions you are welcome to get in touch with me. ... more
0 votes 1 answer Share Flag
Thu Apr 7, 2016
Shernandez answered:
Please contact us at Homestart call 505-243-6566
0 votes 2 answers Share Flag
Sat Sep 26, 2015
Vicky.linn11 asked:
I am in the process of purchasing a short sale and we are getting a va appraisal on Monday. Home passed inspection with flying colors besides a broken dual pane window. Only the outer pane…
0 votes 0 Answers Share Flag
Sun May 17, 2015
Yvonne Smith answered:
As an appraisal is only an opinion of value, it would be pretty hard to win. I know there are some bad appraisers out there. I ran into this once before on an FHA loan and here's the worst part...that bad FHA appraisal now stands for a year. You can't just go get another one. In our case, we had to turn away all FHA buyers, while we waited for a VA, Cash or Conventional buyer, in a predominately FHA neighborhood. Really slowed down our sale. It's a broken system. ... more
0 votes 1 answer Share Flag
Wed Aug 27, 2014
Alice Richards Meyerhoff answered:
Yes you can qualify! There are numerous loan programs out there. Fitting you with the right loan and house is key. Lots of questions for you so call or text me.
0 votes 3 answers Share Flag
Fri Aug 1, 2014
Steve Quintana answered:
My suggestion, in Albuquerque, is to contact a local lender with a strong track record who can answer your question to a high degree of certainty, not just as to credit score, but fully and completely. Here are two names for you:

Jason Pike, (505) 898-2400. First Mortgage Company. I have worked with Jason and he had done a good job.

Ben Lucero, Indigo Mortgage, (505) 836-5700
... more
0 votes 3 answers Share Flag
Mon Jun 2, 2014
sbode10 answered:
Can I get an FHA loan to buy a condo in Albuquerque NM?
0 votes 13 answers Share Flag
Wed Dec 25, 2013
Josh Barnett answered:
Tue Jan 22, 2013
Leigh-Jo Anzures answered:
I would recommend connecting with a tax professional regarding the matter. They can break down all available options and help you determine which ones can benefit you most.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
... more
0 votes 3 answers Share Flag
Sun Nov 4, 2012
Chris Smith answered:
I would recommend starting with Dean Ellison with Frost Mortgage. He can be reached at 505-362-1587 or email dean_ellison@frostmortgage.com. He will provide necessary information and options regarding financing and address any issues that you may need to resolve. Other Realtors have provided a lot of great information. Make sure to discuss your options with a couple lenders and then develop a plan for moving forward with your Realtor in your home search and purchase.

I would appreciate the opportunity to meet with you and discuss further.

Chris Smith
NM Real Estate Now
505.379.2763
... more
0 votes 8 answers Share Flag
Mon Apr 16, 2012
answered:
Hi Martha,

We lend on mixed use properties (not hard money). I would be happy to disucss with you.

Regards,

Mark DeWitt
National Residential
858-212-7054
mdewitt@natresdirect.com ... more
0 votes 2 answers Share Flag
Wed Jan 11, 2012
Konnie answered:
I own a condo in Albuquerque that I am thinking of selling. What sort of down payment are you considering? Are you considering this as a rental property or owner-occupied?
0 votes 6 answers Share Flag
Fri Sep 30, 2011
answered:
Bonus & commission income is averaged over a 2 year period. So if you are paid W-2'd income for 2 years, and if it is all bonuses & commissions, then a 2-year average of bonus income would be put into one category, and a 2-year average of commission income in the other, and then added together. It also has to be analyzed to see if there was a major increase/decrease in either category from one year to the next, as if there is a severe change it may result it only the most recent year being used or not being used.

1099 income is self-employment income like Alex laid out as it is reported to Schedule C of your personal tax returns, and most lenders require 2 years of self-employment income. So if you are paid 1099'd income, and the composite of your 1099 income is bonuses & commissions, it is all just reported as income - there is no further analysis to determine if it was per contract income, commission income, hourly rate income, a 1 time payment of income, etc... it's just simply self-employment income. The income is analyzed like Alex indicated, your gross income minus any actual expenses you claim on your Schedule C.
... more
0 votes 2 answers Share Flag
Thu Mar 10, 2011
Joshua Christensen answered:
Absolutely. In fact, we can do better than HARD Money. I've got a portfolio lender I work with who will consider non-conforming properties like this for their portfolio. Rates are in alignment with regular conventional mortgages. I'm happy to help. ... more
0 votes 4 answers Share Flag
Fri Oct 29, 2010
Janet Nation, CBR answered:
There seems to be some some steps missing between the pre-approval approval and being denied a loan a on the day of closing but based on the limited information provided, the answer is no. A pre-approval only is not a loan commitment, there is no recourse. ... more
0 votes 13 answers Share Flag
Search Advice
Search

Followers

280