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Financing in Kennesaw : Real Estate Advice

  • All168
  • Local Info23
  • Home Buying40
  • Home Selling5
  • Market Conditions6

Activity 13
Sat Aug 15, 2015
Diane Christner answered:
Depending on how the listing agreement was written, the listing broker may be able to go after the seller for commission owed if the buyer saw the property while it was listed.

Most listing agreements have terms stating something to the effect that the home owner will owe the broker a commission if they sell or transfer the property to a buyer that was introduced to the property during the listing period if that buyer purchases the property within a specified time period.

Go back and read your listing contract and if you have any legal questions after reading it, consult an attorney for legal advice.
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Tue Oct 14, 2014
Terrie Cummings answered:
Yes, there are ways that you can qualify for a mortgage. We have a lender that helps people that are 1099 as well as W2 contractors. We will be happy to put you in touch with her.

Sincerely,

Terrie and Justin
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Tue Mar 4, 2014
Shane Milne answered:
IRS liens automatically subordinate to purchase money mortgages, there is no reason to get a subordination agreement and the IRS will never provide one either. Refinances are a different story.

For private financing you may want to reach out to a real estate investment club, as the members there are always looking for creative ways to make money. If you don't mind paying points and higher interest rates (which it sounds like you don't) then try getting in touch with the contacts listed and ask if they know of anyone in their REIC that would be interested in helping you out.

http://www.creonline.com/ga.html
http://www.reiclub.com/real-estate-clubs/Georgia.html

Good luck.

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct
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Mon Mar 3, 2014
Rodney Mason answered:
Hi Marco,
A Gift of Equity for a Second Home is often allowed on a Conventional mortgage. The Seller would need to be related to the Buyer.

If you are looking to purchase a property, 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 mortgage 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.
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Sun Feb 16, 2014
Kirsten Wellborn answered:
Marco, A lot of lenders will based on the type of loan. Fha is usually assumable, but they are qualifying.
0 votes 1 answer Share Flag
Sat Feb 1, 2014
MARCO HUAMAN answered:
Yes, you can. You just need to have your income taxes analyzed in detail, and also have the companies ready to verify (or extend letter of employment). It seems an FHA type of loan, will be more friendly to your case. ... more
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Wed Jan 15, 2014
Marc D'Angelo - Lender answered:
Absolutely Not. I have been lending here in your area which is where I also reside for over 15 years and we offer several programs for people just like yourself. I have a team of experienced realestate agents I can also refer you to who can help you with your search. I am available 7 days a week and also after hours to meet your needs.

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
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0 votes 6 answers Share Flag
Mon Dec 2, 2013
Jim Clemente answered:
Dannie,
Another way to go is to look at homes that qualify for Home Path Loan. These are foreclosed homes held by Fannie Mae. These homes qualify for 3 percent down with no appraisal and no PMI. This is not a " poor mans loan" but a smart purchasing option. I usually see people putting anywhere from 5-10 percent down getting a competitive rate to single premium or lender paid mortgage insurance (the pmi is built into the rate). Be sure you have a good real estate agent. Since there is no appraisal required, the price of the home can be bid up over market in a competitive offer situation.
Also there are companies that will do 14.99 second behind your 80 percent first and down payment allowing you to avoid pmi.
I you would like to discuss this further please contact me directly at 404-229-6575
Jim Clemente
Sunview Mortgage Inc
jclemente@sunviewmortgageinc.com
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Tue Jul 2, 2013
Randa Tyler answered:
I do know of a hard money lender. Shoot me an email if you would like his contact info.

RandaTyler@gmail.com
0 votes 2 answers Share Flag
Sun Feb 17, 2013
Darrell Hess answered:
If you are looking for financing to buy a home you will need to apply for a loan with a loan officer. If you would like some names and numbers for loan officers you can check on the professionals tab on Trulia.com or you can email me at thehessteam@gmail.com. ... more
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Sun Feb 17, 2013
Darrell Hess answered:
It is good you are jumping on this now. Prices have been trending upward for several months now and looks like rates are on the rise again too. The higher the rate goes the lower the purchase price you will qualify for. Talk with a few agents and get some of your questions answered. Hire the best one and complete your goals. I help others buy homes in all those areas you mentioned. My advice to you is to figure out which part of town you want to live in as you are covering a rather large area with those four cities alone. If you would like to bounce some questions off me feel free to call. ... more
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Mon Oct 1, 2012
William Polack answered:
I can understand the frustration of getting pre approved by a lender that is only licensed in certain states. Having to start from scratch is not fun. However, there is a reason why Michigan Mutual isn't lending in GA (licensing requirements etc).

One thing I learned over the years is when a company pre-approves you for a loan, it's not necessarily the lender doing this, rather the loan officer. Pre-approval comes at the point when all the documents are received for the underwriter as well as the appraisal. At that point, the underwriter gives a status of approved with conditions OR approved and clear to close. The loan officer is able to do 3 things: Pre-qualify the loan OR obtain a computer generated pre-pre approval.

I've named 2. The third is at the end.

The pre-qualification is basically an application and credit check. The auto generated system also known as AUS (automated underwriting system) is a pre-cursor to what the underwriter may ask for. There may be more requirements (conditions) asked by the underwriter.

The strongest letter a loan officer can give you is a Commitment letter to fund (banking terminology). Still, the underwriter or the compliance officer can kill the loan.

It's always better to work with someone local so that if the loan officer is no where to be found, you can visit the office.
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Mon Aug 13, 2012
Rodney Mason answered:
All loan programs today require a verified continuous 24 month employment history in the same line of work. There are only a very few of exceptions to that rule. Those exceptions are as follows:

1. If you are a recent college graduate, you can use your time spent in college to make up part up the 24 month history. A copy of your college transcripts will be required.
2. If, within the last 24 months, you have had a 6+ month gap in employment, then you must be employed at least 6 months since that gap ended.
3. For someone with a longer break in history, the same 6 month rule is followed.

If you are paid by anything other than a W-2 (i.e. a 1099, self employed, etc), then you must have 24 months of receipt of that type of income. Since you only have one year of 1099 income, then one more year would be required to meet het minimum lending guidelines for the length of receipt.

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
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