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Gooding County : Real Estate Advice

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Activity 5
Thu Jan 29, 2015
Valerie answered:
They have an Elementary, Middle and High School
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Sat Dec 21, 2013
Jim Paulson answered:
The credit score is just one of many variables, so "it depends". Are you a first time home buyer or do you qualify for IHFA financing? It also depends on your income, your debts, your job history, etc.

If you apply somewhere and get turned down, find out why. Then call another lender and mention that issue and keep trying since all lenders are not created equal. VA just sets the minimum guidelines, but lenders have their additional criteria an "overlays".

Best of luck!
Jim
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Sun Dec 8, 2013
Kelly Johns asked:
Tue Apr 9, 2013
Jim Paulson answered:
Obviously the buyer would need to qualify if they are trying to get bank financing, but the disability may actually help drop property taxes and a few other things depending on the type of loan.

I have closed homes with people who's only source of income was their disability payments.

Why would you want to sell it for only $110k if it's value is $200k? If you are trying to do them a favor, there are some legal yet creative ways to do that with the price too (i.e. have you pay all their closing costs, interest rate buy downs, etc.)

Hope that helps! Feel free to contact me directly if you care to share more specifics.

Jim
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Mon Jul 30, 2012
Trevor Curran answered:
Good morning Sjuneb,

If your disability income is permanent, this income can be considered in the qualification process.

I'd recommend sitting down with a Local Mortgage Banker to get thoroughly Prequalified. Your Mortgage Banker will review your Income, Credit, and Assets to determine if you are qualified for mortgage financing and what programs you would qualify for.



Trevor Curran
NMLS #40140
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