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Home Buying in Jackson : Real Estate Advice

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  • Local Info0
  • Home Buying8
  • Home Selling1
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Activity 8
Mon Dec 14, 2015
Solutionsconsultants asked:
Tue Jul 15, 2014
Solomon Greene answered:
You are describing an investment type product and those typically require a higher credit score. You might consider contacting a Wells Fargo Loan Officer. But please know that this is absolutely NOT an endorsement of Wells Fargo. ... more
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Thu Nov 7, 2013
Dan Tabit answered:
Thepickersplace,
Start with an attorney before you decide. They can review your situation and advise you whether accepting the money is the best result or if there is more they can do. If you decide without an attorney consultation, based on some advice here you could make a mistake. We're not lawyers and don't know all the facts of your situation. ... more
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Tue Oct 1, 2013
bynbycg asked:
Wed May 22, 2013
Lorie Gould answered:
$70,000 is a price point that is going going gone meaning they typically sell with multiple offers. A cash buyer does hold some weight over finance; however, at the closing table it is all cash to the seller so the seller is likely to consider bottom line in their wallet.

Yes, you can pay cash for any property you want to buy. Cash is preferred.

Just keep in mind in today's market just because a home is listed for $70,000 does not mean you can get it for $70,000. There may be a bidding war.

I do highly recommend that you hire a Realtor with experience in today's market. You need a strategic agent that can make you a winner in real estate.
... more
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Wed Feb 6, 2013
answered:
For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now.

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.

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
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Mon Oct 29, 2012
Veronika Barash answered:
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