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Financing in Canton : Real Estate Advice

  • All99
  • Local Info12
  • Home Buying22
  • Home Selling5
  • Market Conditions5

Activity 7
Thu Jul 9, 2015
Chris Stumbaugh answered:
My advice to you

Beware of scammers promising you a loan for a fee
This is not legitimate

You will need to improve your credit scores to purchase and most loan officers can advise you on this

Good luck to you
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0 votes 5 answers Share Flag
Thu Jul 9, 2015
Scott.haney answered:
Hello Nick- First off, congratulations on turning your situation around!! I would be happy to speak with you about your options. I have an office in Woodstock Ga. off of HWY 92 in Cherokee County. My bank does offer lot loans but we do require 30% down. We also have a construction to perm that only requires 15% down. The tools that we have available these days can really give us an idea of exactly what can be done to increase your credit scores.
Feel free to give me a call

Scott Haney
SouthCrest Mortgage
9860 Hwy 92
Woodstock, GA 30188
404-401-9964
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0 votes 3 answers Share Flag
Mon Aug 4, 2014
Terrie Cummings answered:
Hi B. Stana,

The best type of loan would be a Construction Loan would include the land and the home you plan to build. There are a few hoops you have to jump through to get this loan but I can walk you through the steps.

Give me a call at 678-270-7110 for more info.

Thanks!
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0 votes 1 answer Share Flag
Wed Jan 23, 2013
Molly McGrory answered:
Only the person the mortgage is on the hook for the payments, however you could quit claim her on the deed so that she owns the house but without being part of the debt therefore if you do not need her to qualify or if she affects you qualifying it is not necessary to put her on the loan. ... more
1 vote 11 answers Share Flag
Wed Jan 23, 2013
Marc D'Angelo - Lender answered:
Opening a new line of credit should only be done in limited instances. If you need to establish credit then it makes sense. If you are trying to improve your credit you maybe better off keeping your existing card at $10 as a balance.

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
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0 votes 6 answers Share Flag
Thu Jul 28, 2011
Stephen Mearman answered:
Jenny D,

The true value of the home once bought will be the purchase price. As a result any lender will go of the lower of the appraised value or purchase price to determine the value when structuring your loan. You do however have a few options to consider when structuring your loan. If you want to avoid PMI entirely then you have the following options;

- Lender paid PMI - This will be a 95% loan with a slightly higher interest rate with no PMI in your monthly payment.
- VA Loan - Are you or your spouse a veteran? If so you could be eligible for a VA loan with no MI.
- Homepath - Is the property you buying eligible for a Homepath loan?

If you plan to buy the home and then refinance immediately to remove the PMI you will face problems. The true value of your home (at least for the first 6-12 months) will be the purchase price, as this is the value of the hoime in a fair market. If the home is worth more it would sell for more.

Please call or email me to discuss further.

Thanks,

Steve Mearman
Cornerstone Mortgage Group

6151 Powers Ferry Rd. NW Suite 610
Atlanta, GA 30339
Office: (678) 578-7607
Fax: (678) 324-5238

Georgia Residential Mortgage Licensee – 21412
Company NMLS - 147913: Individual NMLS - 248015
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0 votes 8 answers Share Flag
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