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Financing in Columbia County : Real Estate Advice

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Activity 3
Wed Apr 13, 2016
You have 2 options: FannieMae 3% down program or FHA's 3.5% down payment program.

You FICO score works for both so it will likely be your debt-to-income ratio that determines which program you'll qualify for.

Dutchess County is considered a "high-cost area" which is good news for you as it means your loan will qualify as a conforming loan and not enter into the Jumbo realm.

If you need help getting pre-qualified or have any other questions feel free to reach out.

David Roma
Mortgage Loan Coordinator
East Coast Capital Bank
Ph: (516) 476-7328
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Thu May 21, 2015
Debra (Debbie) Rose answered:
it depends on now bad is bad.....also, down payment and income is factored in

sit down and speak with a lender ro find out exactly where you stand
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Tue Jun 14, 2011
Shane Milne answered:
It seems like whoever at the bank made you submit a new 30 day timeline with the request should be the one involved in getting it approved.

Are all items completed, but the bank won't let you access to the 203k rehab funds to pay your contractors?

There are some 203k experts on here (I don't consider myself a 203k expert, although I've done a share of 203k loans) that probably have some experience with post-closing 203k issues with funds being disbursed, extension requests, and what not. I'll see if I can find some to provide feedback.
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