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Home Buying in Bedford Park : Real Estate Advice

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Activity 14
Yolanda Jack…, Home Buyer in Rockford, IL
Tue Aug 25, 2015
Yolanda Jackson answered:
Yes, you can get an FHA Loan with a 580 credit score. a site like The Lenders Network is a perfect place to start. They have several lenders in their network that work with people with credit issues.. Good luck! ... more
0 votes 4 answers Share Flag
Randy Stoker, Real Estate Pro in Carmichael, CA
Sat Mar 21, 2015
Randy Stoker answered:
You will need to improve your credit scores before considering to buy a house. There are no First Time Buyer finance incentives available. In some areas you can find a separate down payment assistance loan. Contact you local mortgage adviser for more individual assistance. ... more
0 votes 1 answer Share Flag
Anna M Brocco, Real Estate Pro in Williston Park, NY
Sat Feb 8, 2014
Anna M Brocco answered:
Ask people you may know for referrals; also see link http://www.nahi.org/
1 vote 3 answers Share Flag
broot0999, Renter in 60455
Tue Sep 3, 2013
broot0999 asked:
I am looking to buy a new manufactured home (5 BR, 3 Bath 2280 Sq Ft) and move it to Illinois from Indiana and put it on a foundation on a 1/2 acre to 3/4 of an acre of land. I am close…
0 votes 0 Answers Share Flag
Marques Wood, Real Estate Pro in Roseville, CA
Thu Aug 1, 2013
Marques Wood answered:
If you live in California, your spouse signs the QCD enabling you to process a mortgage.
Some states don't require a QCD. They may require a warranty deed and the spouse to sign the settlement statement and another doc or two.

This happens a lot of times IF the non borrowing spouse has bad credit and cannot be on the loan for one reason or another.

I had one where the spouse owed back payments for child support from a previous marriage.
The child support payments killed the debt ratio and couldn't qualify for the loan.

Tax liens, bad credit, Bankruptcy or short-sale seasoning requirements, too much debt, wage garnishments etc are other reason that would prevent a spouse from being on a mortgage.

NOTE: Fannie Mae and Freddie Mac look at a short-sale JUST LIKE a foreclosure!!
Fannie/ Freddie require 7 yr seasoning. FHA requires three years seasoning from the date of the disposition. NOT the commencement of the foreclosure process.

www.zerocostlending.com
888-838-9898
... more
0 votes 3 answers Share Flag
Maria Ascenc…, Real Estate Pro in SAINT CHARLES, IL
Wed May 15, 2013
Maria Ascencio answered:
Galoalva001
Con gusto puedo ayudarle con su compra.
Por favor llámeme al (630) 945-0139

Maria Ascencio
RE/MAX Platinum
(630) 945-0139
0 votes 1 answer Share Flag
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Tue Jun 26, 2012
Suzanne Hamilton answered:
Yes and no. Getting your credit to go up will give you a better interest rate and improve your chances of getting the home you want. On the other hand, what if it takes you so long to improve your credit that interest rates go up more (maybe not but who knows) and prices increase.

Unfortunately, we only can base judgements and decisions on what we know now. Rates are good and prices are good. I would contact a lender and ask them to do a soft pull or a couple lenders that doesn't report inquiries on your credit, which could reduce your credit and see what they can do. Perhaps a few small changes can elevate your score quickly. Ask them if they have a program which shows what your credit could be with changes.

Also, be advised that consumer credit scores often differ from lender credit scores. So it may be either higher or lower than you are getting. Wells Fargo has an under 620 program. You could start with them.
... more
0 votes 3 answers Share Flag
I-Agent Real…, Real Estate Pro in Fairfax, VA
Wed Feb 22, 2012
I-Agent Realty answered:
You only have to put the people that qualify for the loan on title/deed/ deed of trust. Use me as an example: my wife is a stay at home mom. If I were to buy a home they would only use my financials. At that point we would have the option for just me to be on title or my wife and I. ... more
0 votes 5 answers Share Flag
Richard Schu…, Real Estate Pro in Los Angeles, CA
Sat Feb 18, 2012
Richard Schulman answered:
Wow, you are on the ball! Sounds like you're in great shape and are thinking ahead and taking all of the right steps. It is best to get pre-approved with a direct lender initially (e.g. a bank such as BofA, Chase, etc), and later on, once you have found a property you are interested in, you can shop the rates around to other lenders too. It isn't too soon to get in touch with an agent though too - a good agent will have reliable lenders to refer you to, to get the process started.

Good luck in your home search!

Richard Schulman
Keller Williams Realty
... more
0 votes 8 answers Share Flag
Danny Lewis, Real Estate Pro in Chicago, IL
Wed Feb 1, 2012
Danny Lewis answered:
I think it's worth telling the listing agent that you are very interested in the property. Give the agent your contact info and let them know how you feel. Although the listing is contingent right now, life happens and things change.

If they do, you'll be the first person the listing agent contacts to let you know the listing is available again!
... more
0 votes 10 answers Share Flag
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Tue Aug 9, 2011
Suzanne Hamilton answered:
Tara -

This property was taken off the market last week. It has not sold, so it may still be possible to make an appointment. There is really no way to know if it has a walk-in closet from the listing.

If you are interested, I can find out for you and perhaps set up a showing for you. Please contact me at 888-788-9544 or suzanne@remarketingconsultants.com and we can set something up.

Suzanne Hamilton
Independent Broker Owner
RE Marketing Consultants
... more
0 votes 1 answer Share Flag
David Hoak, Real Estate Pro in Bridgeview, IL
Mon Jun 28, 2010
David Hoak answered:
Hi, my name is Dave Hoak and I am with Century 21 - House of Sales in Burbank, IL. Do you have any questions regarding the purchase of your new home???
0 votes 3 answers Share Flag
Matt Taylor,  in North Carolina
Thu Apr 22, 2010
Matt Taylor answered:
Relocating, no Job, going to self employed.

Getting a traditional loan will be practically impossible. I would suggest getting a job and free lancing on the side. As business picks up you can slow the hours at your day job. ... more
0 votes 1 answer Share Flag
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