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Financing in Beach Haven : Real Estate Advice

  • All26
  • Local Info2
  • Home Buying7
  • Home Selling0
  • Market Conditions4

Activity 3
Thu Sep 29, 2016
Trashmail2222 answered:
It actually depends on how fast/busy the appraiser is. I work for an AMC in California. We get the report back to the bank within three days. However that is not always typical. I would assume the bank would ask for a family quick turn around. So I would think a week to 10 days would be sufficient time to complete a typical property appraisal. If your home is unique, it might take longer as well as cost more. ... more
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Sat Jan 25, 2014
Joseph Jones answered:
If you have a question about mortgage rates in the Long Beach Island area one of the people you should speak with is Bob Faust with Guaranteed Rate. His number is 609-294-4314. He has extensive knowledge of mortgage lending in the LBI area. ... more
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Sat Mar 8, 2008
John Jelinski answered:
What many lenders are looking for are several factors.
1. Debt to income ratio,
2. FICO score,
3. longevity in job position ie. job jumpers are seen more and more of a risk.
and 4.risk of area; flood prone, industrial...anything which can make a possible re-sale (distress/ short/ forclosure) a burden on the lender.
More and more banks (and lenders as a whole) are at risk and are finding selling thier loan portfolios much more difficult to third one wants them and therefore tight lending.
Rule of thumb nowadays...anything less than12% for a new purchase will be OK for lenders to consider. We have a great lender in our office, Ray Garry who specializes in this, especially with the new guidelines. He is great!
Give me a call and I will set you up with his number.
Best of luck
John Jelinski
Crossroads Realty
... more
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