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Financing in Atlanta : Real Estate Advice

  • All3K
  • Local Info362
  • Home Buying1K
  • Home Selling143
  • Market Conditions99

Activity 311
Thu Jan 16, 2014
Marc D'Angelo - Lender answered:
Maggie with your credit score you can do a 97% Conventional loan and your payments will be better than going FHA give me a call I am available 7 days a week and after hours.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
mdangelo@brandmortgage.com
apply online: mdangelo.brandmortgage.com


50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
... more
0 votes 16 answers Share Flag
Wed Jan 15, 2014
Marc D'Angelo - Lender answered:
There are several things that can come into play with your question. Have you ever used your VA Eligibility before? your Credit Score? The value of your home after it is completed. All of these will factor in. If you give me a call I would be happy to discuss all of these. I am available 7 days a week and after hours.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
mdangelo@brandmortgage.com
apply online: mdangelo.brandmortgage.com


50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
... more
0 votes 7 answers Share Flag
Sat Jan 4, 2014
Sherry Bailey answered:
0 votes 3 answers Share Flag
Mon Dec 2, 2013
Ava Anderson answered:
Hi Edward,

You may qualify to purchase a new home, but every situation is different. You really need to speak with a lender to be sure of where you stand. One of my clients just closed on her new home after a short sale 2 years ago. Feel free to call me if you want to talk with the lender she used to make the purchase of her new home.

Ava Anderson
Solid Source Realty Inc
Associate Broker
770 369-5121
... more
0 votes 8 answers Share Flag
Sat Nov 2, 2013
Dana Lindberg answered:
Different lenders have different requirements. Some require a long waiting period while others a higher down payment. Visit www.whywaitbuytoday.com to see if you qualify.




-----
Dana Lindberg
CFS Mortgage - http://www.cfs203k.com
... more
0 votes 13 answers Share Flag
Fri Nov 1, 2013
lendersnetwork answered:
There are 3% down conventional loans, you can use your 401k and at least 2-3 months of reserves should suffice. Go to our site The Lenders Network and we will help you find the right type of loan. ... more
3 votes 16 answers Share Flag
Fri Nov 1, 2013
lendersnetwork answered:
FHA is easier to qualify for and requires just 3.5% down. Yes you need to have MIP for the life of the loan, but you can always refinance to a conventional mortgage in 5 years to drop it. This is the option I would explore, but you probably have many options. I would encourage you to go to our site so we can figure out what the best route to take is for you. ... more
1 vote 13 answers Share Flag
Fri Nov 1, 2013
Jessica Bateman answered:
The Lenders Network. They match you with a lender that has a loan product that matches what your looking for.. Good luck!
0 votes 6 answers Share Flag
Fri Nov 1, 2013
Jessica Bateman answered:
The Lenders Network. They match you with a lender that has a loan product that matches what your looking for.. Good luck!
0 votes 16 answers Share Flag
Thu Oct 31, 2013
royston234234 answered:
Good Day, Are you looking for a loan? We give out loans from the range of $1,000 to $50,000,000. Our loans are well insured and maximum security is our priority. Contact royston234234@aol.com for more details. ... more
0 votes 6 answers Share Flag
Fri Oct 25, 2013
Jessica Bateman answered:
Yes there are many programs for Jumbo loans that require less than 20% down with good credit, I have seen as low as 10% down in some cases. I would try The Lenders Network they will match you with a lender that has a loan program that fits what your looking for. ... more
2 votes 6 answers Share Flag
Mon Oct 14, 2013
Richard- El Bey answered:
Foreign National Loans

Borrowers using TIN Okay
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Foreign Nationals {Expatriate}- NO PASSPORT {Must have valid work visa or 30% Down}
70% LTV Purchases
65% LTV Rate & Term Refinance
50% LTV Cash Out {Possible higher if financials are up to par}
Multiple properties OKAY
Corporation purchasing and refinancing OKAY

Richard- El Bey
Avarice Investments
(706) 399-7813 cell
(678) 752-8062 Office
thegocp@gmail.com
... more
0 votes 6 answers Share Flag
Sat Oct 12, 2013
Rebeccatrulia answered:
Reverse mortgage is very helpful to us.

http://www.reversemortgagelendersdirect.com/georgia-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-calculator/
http://www.reversemortgagelendersdirect.com/reverse-mortgages-how-they-work/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-rates/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-loan/
... more
0 votes 8 answers Share Flag
Wed Oct 9, 2013
Heather Williams answered:
Curtis,

First off - congratulations! Even though it may be a daunting task, buying a home here will be a great experience for you.

As far as your situation goes, you have a very comfortable set up for a loan that most offices will be able to accommodate. As Kaci stated earlier, most local lenders have access to programs all over the nation, so the price different will be minimal, and you will drive yourself crazy chasing pennys.

The real help you will need is someone to help guide you through the process to the best loan program that works for your particular needs. Shop around with different lenders, not so much for rate and monthly payments, but for who can build a good relationship with you and will be honest and helpful throughout the whole process.

If you have any questions or would like to just talk about more options or tips, don't hesitate to contact me.

Thanks.

Heather Williams
heather.williams@nlcmortgageloans.com
Office:770-847-9340
Cell: 770-355-6035
... more
0 votes 10 answers Share Flag
Sun Sep 29, 2013
ryateslenders answered:
Actually as long as you have a 620 credit score you can get a conventional loan with 3% down, a minimum 580 credit score is needed for FHA loans which requires 3.5% down. I know several lenders that offer these loan products, visit our website we can refer you to a Lender, and an agent if you need one. ... more
0 votes 15 answers Share Flag
Mon Aug 26, 2013
Kaci J. Jackson answered:
Hi Brightonbeach.

Looks like it's been a few weeks since you originially asked the question. Don't know if you've already found a resolution.

It is very possible to do what you are asking. There are many great 30 year options available that can avoid monthly mortgage insurance.

To speak more indepth about your mortgage situation, feel free to contact us at:

e: Kaci.Jackson@FCMHomeLoans.com
c: 404.465.1766
o: 678.381.2257
... more
0 votes 7 answers Share Flag
Tue Aug 20, 2013
Coole Home answered:
It is required but easy to get. VA Home Loan Centers can help you obtain the ID in just a few days.
0 votes 3 answers Share Flag
Tue Aug 6, 2013
Chris Irvin answered:
Actually there are lenders that will allow construction to permanent loans for renovations. Mine is one of them. You will need at least 20% equity based on acquisition cost (if owned for less than 12 months) or appraised value (if owned for more than 12 months) plus construction costs. Feel fre to give me a call to discuss in greater detail.

Sincerely,

Chris Irvin
Mortgage Banker
Brand Mortgage
NMLS # 75615/465546
678-251-7889
www.cirvin@brandmortgage.com
www.chrisirvin.com
... more
0 votes 8 answers Share Flag
Wed Jul 31, 2013
answered:
Yep. Much like Private Money Group, there are private lenders out there who lend money on residential property. There are even less of them who lend on owner occupied properties. Private Money does not, probably because hard money lenders are not allowed to do so. Private money and hard money are different like commercial and residential lending. One is governed by RESPA, the other is not.

There is a private investor in NY that lends up to 75% of the value of the property. In some cases, they will use the after repair value (ARV). If you are able to find such equity before or after the rehab, you do not have to put any money down. HOWEVER:

Fees up front: $900
Fees due at closing $3200
Points (can be financed): 7% - 75% minus 7% is 68% max LTV

The process is very slow: you pay the fee and submit application and financial info (bank statements are okay instead of tax returns or pay stubs) and credit score (report not needed, just a score).

Wait 2 weeks for approval
Get your property under contract
Submit property info (title, appraisal)
Wait up to 4 weeks to close

You can buy commercial and residential with minimum loan amount of $100,000 (which may increase soon).

Loan is for 5 years (amortized 30 years)
Start rate 9.5% interest only
No prepayment penalty
Available in all states

I have not closed a loan with this investor. I submitted 2 deals that did not close. The first one due to legal problems with the buyer (buyer previously squatted the property) and the second due to the 1 of 3 sellers taking 3 weeks to execute the contract on a multi property purchase deal.

The upfront fee is non refundable.

I am in the process of obtaining a new investor that will offer much better rates and down payment terms. Also, check out a blog I'm working on today regarding using NOTES to obtain financing. Stay tuned...

Bill Polack
404-644-3295
... more
0 votes 5 answers Share Flag
Mon Jul 22, 2013
Betty D. Scyphers answered:
I am not sure of the lender to which you are referring. I would recommend that you contact a BB&T loan officer for your new home needs.
0 votes 4 answers Share Flag
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