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Home Buying in Indiana : Real Estate Advice

  • All178
  • Local Info9
  • Home Buying105
  • Home Selling15
  • Market Conditions0

Activity 1,980
Thu Dec 14, 2017
Kathy Burgreen answered:
Is this a For Sale By Owner listing or a home listed with a brokerage. The difference is if the home is listed with a brokerage, the listing agent is being paid to be the intermediary with all buyers, so the seller will refer you to their agent.
In a For Sale By Owner listing, you need to contact the seller directly.
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Sun Dec 10, 2017
Robert Spinosa answered:
Yes, you can use gift funds for your down payment on a conventional loan, and many of our investors will permit your gift to constitute 100% of your down payment (others require a 5% minimum contribution from the borrowers' own funds). A gift must be from a family member and the guidelines for conventional/conforming are a bit more restrictive than FHA in this regard.

Another question that often comes up here in California is, "How much can a donor gift without having tax implications?" The answer is that the IRS annual exemption is currently at $14K per person but will increase to $15K in 2018. Since I'm writing this in December, know that a donor can gift $14K this December and then another $15K in January and all of that would fall under the annual exemption(s).

Once in jumbo loan territory, it is more common to see investors requiring at least 5% of a borrower's money in the transaction when gift funds are involved, but let me know if any questions.
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Sat Dec 2, 2017
Ahmad Karim asked:
Fri Nov 24, 2017
Dan asked:
Tue Nov 21, 2017
Raquel.kurth answered:
Still looking for a Spanish speaking mortgage? I'm here to help
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Fri Nov 17, 2017
Kathy Burgreen answered:
Instead of asking your question here, you need to contact your realtor, title company and lender immediately and explain your situation. Nobody online can advise you on what to do.
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Fri Nov 10, 2017
Charlotte Davalos asked:
We are interested in several properties could you contact me. 309 north elm ,725 South Park Ave, 211 North main,
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Wed Nov 8, 2017
I would love to help you with a VA, USDA, FHA, conventional, jumbo, even subprime, and now a reverse mortgage! We simply have more loan options available to help you! I think there are some serious advantages to VA home loans. I would be glad to help in Indiana and Florida. ... more
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Mon Oct 23, 2017
Tod asked:
We purchased a home in June 2017. Our realtor refused us having our own roof inspection ststing sellers were doing that for us. We had a home inspector take a walk through on the home and…
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Tue Oct 17, 2017
timyers66 asked:
Wed Oct 11, 2017
Sarah Giraffe answered:
My home was appraised at$10k more than asking, and $20k more than the closing price
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Wed Oct 4, 2017
Mary Olson answered:
Hi T-

I can help you. What areas are you interested in?

Mary Olson, Broker
Willow Tree Realty
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Sun Oct 1, 2017
Lcsjimenez answered:
My husband and I are trying to get a house loan the person working with us first told us we needed his credit to be at 620 and now they say 650 for a better chance for fha can we get a loan with 625 or do we really need to bump it to a 650 we live in Colorado. ... more
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