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Financing in Goodyear : Real Estate Advice

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  • Local Info8
  • Home Buying44
  • Home Selling9
  • Market Conditions5

Activity 5
Fri Dec 29, 2017
Kathy Burgreen answered:
First, verify with the HOA if you will be allowed to rent out the condo immediately after buying it. Many condos have restrictions - either you need to live there for a specific time period before you're allowed to rent it out OR the HOA only allows X number of rentals per year and you could be on a waiting list. If the HOA allows you to rent it out immediately after you buy it, then that will be your best news.

As for the realtors who don't know what they're doing - yes that is true. If this condo is for sale, call the listing agent first and tell him/her that you will be using a buyers agent to represent you. If you're in the area, visit some local brokerages in person and ask the Office Manager or Broker in Charge to assign you somebody. I don't know but I suspect that the realtors don't want to assist out of state buyers unless that buyer is in CT. This was my experience as a realtor in nearby Westchester County, NY
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Mon Sep 9, 2013
Patricia Van Houten answered:
For those that meet the guidelines, this program is great for buyer's who don't have the full down payment to buy a home. I have sold a few homes to buyers, who otherwise would still be renting.

It might not be the best loan out there, but it certainly helps buyer's buy homes.
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Mon Feb 6, 2012
Loren Hoboy answered:
The credit element for buying a home are a combination of credit score, your debt to income ratio and the lender requires taht your income has the likelihood that it will continue for at lease two years. That makes it impossible for someone to buy a house that has quit their job to move to a new location unless they have the new job (must be in the same field of work). The lender does not care or consider if you have large sums in the bank

But there are loans for US Citizens (and some foreign nationals) who are buying a 2nd home. Income verification and credit checks become an issue if the foreign country is not in the Commonwealth. The borrower would need to do a conventional loan and have sufficient income to pay both their current rent or home loan and to pay the 2nd home loan. Please email me at LHoboy@CentralAZHomes.com and I will send you the contact information for a lender .

Another option is for us to find you a house where the seller is willing to finance your purchaser. Usually you put down 25-35% and the seller will loan you the remainder for 3-5 years(more sometimes). Interest rate is negotiated and terms currently vary from 5% to 10%. In this case you could probably re-finance in 6 months using a conventional loan if a new job supports the loan.
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Thu Mar 10, 2011
... answered:
All good advice - I can finance HomePath, HomeStyle as well as HUD REO homes - please let me know if I could be of help.

Tom
Thomas.Stevens@Flagstar.com
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Sat Feb 26, 2011
Dallas Texas answered:
Many national lenders will not do these types of loans. Best contact local bank

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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