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Financing in Clark County : Real Estate Advice

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Activity 21
Sun May 28, 2017
Sanya answered:
We are located in Vancouver, WA. We are looking to buy a house but so are a million other people. Looking for the same thing as us. We have been looking for a LONG time. Housing is way too expensive. My husband and I would need help with closing costs and down payment assistance. Are there any programs like that out there for brand new manufactured homes? Like as if you were going to buy an existing home but we are needing to also purchase the land and then we would like to purchase a manufactured home to put on the on the land on a slab. So I guess a land home package. Any help would greatly appreciated.. Thanks ... more
0 votes 1 answer Share Flag
Sat Apr 8, 2017
answered:
Hello, I'm a mortgage professional.

I would need to see the loan estimate and also need more info to determine what the appropriate fees should be.

Also if you would like a second pre approval please let me know.

If you have any other questions or would like help with this you are welcome to get in touch with me.
... more
0 votes 1 answer Share Flag
Wed Dec 14, 2016
Liberty answered:
I can speak from current experience! We have a 4,400 sq ft metal structured home that includes an elevator and commercial grade sprinkler system and situated on 1 acre that is fenced in with an 8 ft board-on-board fence.
We have been doing an owner finance set-up for the past 5 years.
It's been the REFINANCE part that has been a frustration point. We have been in the process with BBMC now for 2 months, given a rate of 4% on a loan of $263k (Appraised at $375k)... but for the past week- they haven't responded to any correspondence or returned any calls.
Because of the length of time it has taken BBMC, and the run around we have been given (This initially started out as a Cash-out refi... but a month into the process they informed us Texas doesn't do cash-outs. Yes- actually they do). We have been reaching out to several lenders to start the process all over again... 3 out of 3 simply won't refi because of it being deemed a "unique" structure. MEANING- they don't have experience with metal structured homes. I'm in the process of trying to find the niche finance market- which means we very well could pay a premium interest rate due to the lack of lenders.
So while the attractiveness and growing popularity in metal home structure is trending upwards- banks are still gunshy, which is a missed business opportunity for a growing market.
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0 votes 1 answer Share Flag
Thu Jul 21, 2016
James Hagarty answered:
I agree with Kary, it sounds like a HELOC may be a better option for you.

Hard money lenders typically offer short term, high rate loans that will not make sense for a reverse mortgage. ... more
0 votes 2 answers Share Flag
Tue May 12, 2015
lewisremington19 answered:
I would recommend calling a few of the mortgage brokers in your area and asking them if they are licensed in all 50 states. That way you will be able to ensure that they are near you so you can access them and their services when you need. And you'll be able to get a feel for their phone presence by calling, which is important.
http://www.epicmortgagesolutions.com
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0 votes 1 answer Share Flag
Sun Dec 2, 2012
Matt Peebles answered:
Hi Justin, Housing and Urban Development is the authority for FHA lending. You can find contact info for your local office here: http://portal.hud.gov/hudportal/HUD?src=/localoffices
0 votes 2 answers Share Flag
Sun Sep 16, 2012
Evie Hampton answered:
Hi Scott!

Definitely contact a real estate attorney. If you need any recommendations, please feel free to contact me at 360-609-0086.
0 votes 6 answers Share Flag
Wed Sep 5, 2012
John Rose answered:
I am an approved appraiser with Columbia C.U. My email is john@nwvaluation.com
0 votes 7 answers Share Flag
Fri Sep 23, 2011
Annette Levinson answered:
John,
You can go FHA for the buyout. Depending upon the underwriter it would be considered a purchase or refi. You will be able to finance the closing costs into the mortgage. FHA allows higher DTI for lower LTVs and let them know all of your assets.
Speak with a mortgage officer who is familiar with FHA.
... more
0 votes 3 answers Share Flag
Thu Apr 21, 2011
Patricia Bergren answered:
Brendajean,
As a Realtor I do not handle property manangement. However the comments below are all good. My suggestion would be to talk to a local respected property management company and find out how the local laws work in your area. You can also go to your state or county online web and browse to see if there is a dept you can link to that may have your answer online as well. Then if you don't feel comfortable with that, your best resouce is to talk to a Real estate attorney. You can usually get a free consultation to satisy your dillema. Good luck~
Patricia Bergren
Coldwell Banker United Brokers
http://www.pattysproperties.com
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0 votes 7 answers Share Flag
Fri Apr 1, 2011
John Minnis answered:
Check out Jim Randolph with Sound Mortgage. I spoke with him about your question and he seemed positive he can assist you.
0 votes 4 answers Share Flag
Sun Dec 12, 2010
Ken's Home Team LLC. at Keller Williams answered:
you will need to check with the local laws in CA, I would think they need to be a lic agent since they are not owners. If you are the owner you do not need to have a management cot, however I would have a lic agent do it anyway because there are so many laws that YOU are responsable for. ... more
0 votes 2 answers Share Flag
Sun Dec 12, 2010
Ken's Home Team LLC. at Keller Williams answered:
Mary,
YES, you need to keep paying your mortgage, it will get caught up. I do not suggest that you stop paying.
0 votes 13 answers Share Flag
Sun Nov 21, 2010
Aaron Schreiner answered:
Check out this information from the Washington Housing Finance Commission website: http://www.wshfc.org/buyers/index.htm. Good luck!
0 votes 1 answer Share Flag
Tue Sep 28, 2010
William Sheffield answered:
This sounds like a question for a lawyer.Brokers are not supposed to give legal advice.Are you working with a Realtor at this time?
0 votes 8 answers Share Flag
Mon Jul 12, 2010
answered:
Can't help you since we only do CA loans. But, rural and farm loans are readily available. Call local banks and credit unions. Also Google it. .... Good luck, Rudi
0 votes 5 answers Share Flag
Sun Jan 24, 2010
Brad Fix answered:
Hi Tristan the best thing you can do is get your credit score and history contact a lender and see were you are and what you can do to repair your credit remember score is only part of the equation income and work history count to let me know if you need help I can put you in contact with some good lenders Brad Fix ... more
0 votes 3 answers Share Flag
Sun Jan 10, 2010
Jim Slaight answered:
Yes you can.... and no you can't and maybe you can or can't.

I was a lender for 17 years and while my answer may not seem very helpful.... keep in mind that it's not so much about any one or two fees.... it is about the bottom line.. what are the total costs.

My point is.... if a lender says they will not charge a processing fee, but their underwriting fee is $995.... did you save money? No. Fees can be called different things... but still be a fee.

I'd be happy to help you with the home buying process and also have you work with a few of the very honest loan officers I know who will explain fees to you and make sure you get the best deal.

My website address is below. Look forward to working with you.
... more
0 votes 10 answers Share Flag
Mon Jul 20, 2009
answered:
You can do that with no problem, but you need a good agent in your area to help you with that.

Look at this blog it will help you to learn more about mortgages.
I've got most of my answers there as well.

Good Luck.
... more
0 votes 2 answers Share Flag
Sun Jul 12, 2009
John B answered:
You will hold the note your self and then build his credit while you're on the loan.

Look at this blog it will help you to learn more about your situation.
I've got most of my answers there as well.

Good Luck.
... more
0 votes 4 answers Share Flag
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