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Hephzibah : Real Estate Advice

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Activity 19
Tue Mar 28, 2017
answered:
Hello, I'm a mortgage professional.

Yes, there are several options. Some options don't even require a down payment and allow you to roll closing costs into the loan.

If you have any other questions or need help with this you are welcome to get in touch with me. ... more
0 votes 1 answer Share Flag
Thu Nov 24, 2016
J.margillo5532 asked:
Fri Oct 23, 2015
Cecesturgis46 asked:
Sat Feb 22, 2014
answered:
For an FHA mortgage, most lenders have required a 640+ credit score since 2008/2009.

Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. It is required that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

The 3.5% minimum down payment can be from the borrowers own funds or it can be gifted from a family member. Two months of reserves for the PITI (Principal + Interest + Taxes + Insurance) payment + HOA Dues will be required. This must be from the borrower’s own funds and not a gift. FHA loans will allow a seller contribution toward closing costs/pre-paids of up to 6% of the sales price.

You will also need a verified 12 month on time housing history. This will need to be verified by either 12 months of cancelled check or by a Verification of Rent from your management company.

Once you are ready to purchase, working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 1 answer Share Flag
Tue Feb 4, 2014
Pamela.cannon4848.pc asked:
I'am looking for an better and safe place to live with my son,the area that we live in now are not to safe with a handicap son. with both of are disability and my credit are not to…
0 votes 0 Answers Share Flag
Thu Jun 27, 2013
angela.devault answered:
What is a good credit score to buy a home around 132,00.00?
0 votes 26 answers Share Flag
Sat Jun 22, 2013
Cassie Horn asked:
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This question was asked from this property: http://www.trulia.com/property/3091758165--Dorminy-Crownwalton-Hephzibah-GA-30815
0 votes 0 Answers Share Flag
Sun May 19, 2013
answered:
That would be a question for your Buyer's Agent or your Loan Officer depending on what you are needing an extension of. What exactly are you needing to extend? A closing date? An interest rate lock?

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 2 answers Share Flag
Tue Feb 12, 2013
answered:
Good morning,

When you apply for a mortgage loan together the Lender will use the lower of the credit scores for qualifying purposes. That having been said, Lenders have the ability to run a "merged" credit report for married couples in the event the credit score isn't the problem, but insufficient credit history of one partner is the problem.

Get a referral to a Local Mortgage Banker with at least 15 years experience. Meet your Mortgage Banker in person to complete a thorough Prequalification. You'll find the answer to your question right there.

Trevor Curran
NMLS #40140
... more
0 votes 5 answers Share Flag
Fri Feb 1, 2013
Charles Cooper answered:
VA no longer offers Vendee financing on any of the foreclosures. Unfortuantely they will often not meet minimum requirements of government backed laons due to condition. VA will nor make or allow repairs to be made until the buyer has closed the sale. The most common way of purchasing is either cash, bank financing (they typically require 25% down) or conventional financing. The governments motto is fix it until its broke. They truely screwed up a good thing. ... more
0 votes 3 answers Share Flag
Sun Jan 27, 2013
Charles Cooper answered:
Thank the federal government for that one. In thier zeal to prevent preditory lending the fed has placed limtis based on a percentage of the cost of the loan to the loan amount. Hard to get one to work under 50K. Contact your legislator and tell them to do what they do weel (whatever that is) and let the marketplace do what they do well. ... more
0 votes 2 answers Share Flag
Sat Jan 26, 2013
answered:
I have not seen any mortgage company be able to do a loan amount that low. At Prospect Mortgage, we do not have a minimum loan amount, except for renovation mortgages. All Renovation Mortgages do require a $50K minimum loan amount. While other loan programs do not have a set minimum loan amount, all mortgages must pass the various Federal and State fee compliance tests for predatory lending. Generally, loan amounts under the lower $30K's will not pass those required tests.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 1 answer Share Flag
Wed Jan 23, 2013
Marc D'Angelo - Lender answered:
On a purchase transaction you should be able to close with in 30 days. My normal FHA rate for 30 years is 3.25% My normal turntime is 15 days provided I have a client that is proactive and provides all necessary documents when asked. I have had instances when clients took 20 days to provide their bank statements or tax returns which have pushed it to 40 days. I would love to work with you.

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
... more
0 votes 5 answers Share Flag
Fri Jan 4, 2013
Charles Cooper answered:
Cost and value are 2 different issues. It is not uncommon to see overpriced listings. If the realtor is doing thier job they are educating the public at the listing appointment. When I go on a listing appointment I always take a CMA (Competetive Market Anaylsis with me. As a practice I will not take a listing for more than 10% over the price shown in the CMA. I would rather be honest than have an uhappy homeowner. ... more
0 votes 1 answer Share Flag
Mon Jul 16, 2012
answered:
There is no way to really know that answer. You would need to check with the closing attorney's office since they are the ones handling it.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
0 votes 3 answers Share Flag
Wed May 11, 2011
Vellis answered:
1542 Pine Ridge Dr E in Hephzibah may be available soon. Contact Dian Smith, 706-829-7617.
0 votes 1 answer Share Flag
Fri Jun 25, 2010
answered:
It would depend on what type of loan you are doing. If you are doing a regular FHA loan, it should close in about 3 weeks. If you are going the HUD $100 down rout they seem to take a bit longer. Keep in mind that even when the financing is in place HUD/Pemco usually required 5 days to review the final numbers. Good luck with your closing!

Sincerely,

Brad Hartman
bhartman@cmghl.com
678-578-7611
... more
0 votes 6 answers Share Flag
Thu May 27, 2010
Vellis answered:
1542 Pine Ridge Dr E in Hephzibah may be available soon. Contact Dian Smith, 706-829-7617.
0 votes 3 answers Share Flag
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