seeking a loan for $100,000 to be repaid at 6.25% over a 15-25 year period. Looking to purchase a home

Asked by Humble, Yeadon, PA Thu May 20, 2010

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8
Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Tue May 25, 2010
Hello Humble,

You need to speak with a mortgage lender to determine your options.
You may qualify for a mortgage through the usual channels and you need to know what is needed to get approved. If you are a nurse you have a good income so that should not be an issue If you have no money down there are assitance programs that can help you like PHFA If there are credit issues they may be fixed. If you have a recent foreclosure or bankrupcy, trying to get any financing is going to be very difficult. I think looking for private money at those rates is unrealistic as private investors are looking for a good return on their money.
If you are looking at foreclosed homes homepath has some interesting options.
If you are looking for renovation financing that is completely different type of loan altogether.
You need to provide more information and if you do not want to do it here you need to speak with a mortgage lender to see what your options are.

Regards,
Aaln Openshaw
Cornerstone Lending Inc
215 953 0800
cell 267 992 7276
Web Reference:  http://www.homepath.com
0 votes
Humble, Home Buyer, Yeadon, PA
Tue May 25, 2010
Yes, because of my special circumstances. I would like to purchase a foreclosed or hud home. I am sure they would be affordable and use some of the money for needed repairs and furnishings. I am a nurse with 2 children, one who is a kidney transplant. If anyone is willing to lend me the money, I would purchase a home in 3-4 months and if acceptable to the lender, use that as collateral. I know repayment would not be a problem because I will not lose our home.Please help us or give me info on anyone who can. Also, Virgin Money can manage the loan or any other sources suitable to the lender.
0 votes
Madeline Day, , Delaware County, PA
Mon May 24, 2010
Good evening, Humble. You should talk with a Mortgage Loan Officer. I have referred numerous people to Gerry Manzi at Gateway Funding. (610) 329-3636-Cell. I have referred many of my clients to Gerry over the years and he has assisted them even with credit issues. After you speak with Gerry, I would be glad to assist you if you are looking to purchase a home. I can be reached at (610) 721-8471. Good Luck.
0 votes
Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Thu May 20, 2010
Hello Humble,

Why are you looking for a rate of 6.25% when you can get rates as low as 4% for a 15 year mortgage? Do you have bad credit? Is there something about your sitaution that is unique? I recently lent private money to a client who is now selling at S. Alden St which is by 58th and Baltimore and is completely renovated and for sale at $72,000.
Let me know a little more about your situation and maybe I can help you out too.

Regards,
Alan Openshaw
Cornerstone lending Inc
215 953 0800
cell 267 992 7276
0 votes
Justin O'Mal…, , Philadelphia, PA
Thu May 20, 2010
Good Afternoon Humble,

Hope all is well. There are multiple options both hard money and conventional options for you to consider. We also have an in house mortgage consultant named Rob Lapierre. Please feel free to contact me if you would like a free pre-approval and I will refer you to Rob who is very knowledgeable, thank you.

Justin O'Malley
Long and Foster
6th and Walnut St
610-457-4727
0 votes
Sean J. Sams, , Lansdowne, PA
Thu May 20, 2010
Hi Humble,

I'd like to help you.... I can refer you to an AWESOME lending officer at a very reputable institution that I've worked with in the past. She'll turnover and look under every stone to get you into the best lending situation for your home purchase. Please give me a call or fire an e-Mail over (whichever is more convenient for you). (484) 682-3256 OR sjsams@kw.com. I hope to hear from you soon!!

Kind Regards,
Sean J. Sams
Real Estate Agent
Keller Williams Real Estate
0 votes
Steve Sisman, Agent, Media, PA
Thu May 20, 2010
Good afternoon Humble, please feel free to contact our in-house lender Linda Povey at: 484-468-1300. Your conversation is 100% confidential. There is no charge for your pre-approval. Once you're pre-approved, we can go look at houses. Steve
Web Reference:  http://www.SteveSisman.ccom
0 votes
Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Thu May 20, 2010
Hello Humble.

Are you looking for private money?

Regards,
Alan Openshaw
Cornerstone Lending Inc
0 votes
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