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Financing in Lancaster County : Real Estate Advice

  • All21
  • Local Info2
  • Home Buying10
  • Home Selling2
  • Market Conditions1

Activity 17
Tue Oct 24, 2017
Kim asked:
2.7 acres, add'l rooms added, 2 car garage, sold to me as single dwelling modular and refinanced in 2011 as the same-now appraisal states different.
0 votes 0 Answers Share Flag
Mon Jun 13, 2016
Hi Maureen,

Great question.

The only way it could really "count" against you to pull money from your IRA to pay off your credit cards is it reduces the amount of reserves you have. If you're going to do an FHA loan, having reserves isn't generally required for an approval.

Another little know option is you maybe able to take a loan against your IRA (or 401K) & the payment doesn't have to be counted against your income!

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online:
NMLS# 787231
... more
0 votes 2 answers Share Flag
Sat Jul 18, 2015
Bgrld answered:
hard money lenders will lend from 65%- 70% and will let the sell carry a second note for the rest. try it. i just did it. good luck on your investments.
0 votes 6 answers Share Flag
Wed Sep 17, 2014
Dan Tabit answered:
Trulia is not a mortgage company or real estate sales company, it's a website with a number or pros participating at various levels.
The rate you get will depend on more than just your credit score, although it's a big part. Find a great local lender to consider. One that does FHA may be a good option for you. Another option for Mobile Homes are Portfolio Lenders, often regional banks may be open to financing a Mobile Home.
Please realize that mobile home rates are typically higher and harder to get. In general mobile homes are not considered good investment that appreciate the same way that a conventional stick built home does. On the other hand, they are much less expensive to begin with, so they serve a purpose. Best of luck.
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0 votes 1 answer Share Flag
Fri May 2, 2014
Endre Barath answered:
Randa this is very common, a good example is people live in New Hampshire and commute to work in Boston, MA. There are many other examples, just talk to your lender and Realtor and they will be happy to help you.

Endre Barath,Jr.
Berkshire Hathaway
Beverly Hills, CA
... more
0 votes 3 answers Share Flag
Fri Nov 1, 2013
Eric Miller answered:
What is the address for this home?
0 votes 1 answer Share Flag
Sat Sep 28, 2013
Jessica Bateman answered:
Yes there are, you just are not speaking to the Lenders probably.. FHA loans require a 580 score, Conventional require a 620.. I recommend The Lenders Network, they can refer you to an agent to help you find a home and a Lender or two that can get you pre approved.

Good Luck!
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3 votes 16 answers Share Flag
Sun May 13, 2012
This is an awesome program with many benefits. You can also contact the local USDA office for additional information and lender resources. I work throughout Lancaster County and NYC so please feel free to text, email or call me anytime. I am happy to provide you with the resources to take advantage of the market opportunities with this 0%down financing. I look forward to talking to you soon. Let me know what size home you looking for too! Cell for fast response- 717-669-7894

Daniele Seldomridge- Realtor
Prudential Homesale Services Group, 150 N Pointe blvd, Lancaster, PA 17601
CELL- 717-669-7894
Office- 717-560-9100
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0 votes 4 answers Share Flag
Mon Apr 4, 2011
Len answered:
Just another Govnmt program to put Joe the taxpayer on the hook for people who made bad decisions. After buying with no money down, using the home as a revolving ATM or both people are in shock that their inderwater. Seems they always look to pass off the blame to their neighboors by taking their tax dollars. What about the poor folks who continued to rent during the bubble. They knew what they could afford and didn't liston the the realtor or mortgage guy telling them what they could afford. I say toss them out and let those who were prudent reap the benefit of a lower home price. Keeping people from walking away by writing down the principle is rewarding bad decisions and bad behaviour. It's unfair to those who were and are responsible homeowners ... more
0 votes 2 answers Share Flag
Sun Aug 15, 2010
Deborah Madey answered:
The following link provides several mortgage calculators that are helpful when evaluating your options as a buyer.
1 vote 5 answers Share Flag
Wed Aug 11, 2010
Kellie Saari answered:
The challenge is the lender. You may refinance a loan after 6 months of ownership. However, they do reserve the right to lend or not lend to whomever they choose. I would call the manager in the branch and demand any money you have paid out back and go to another lender. ... more
1 vote 7 answers Share Flag
Wed Aug 11, 2010
Chris Lyon answered:

No you are not obligated. I recently refinaced a past customer that was ofered 5.0% by there current lender. They called me and I did it a 4.5%. The only downside is you will probably have to pay for another appraisal. Rates are now down to 4.25%.

Good Luck
... more
0 votes 5 answers Share Flag
Fri Jul 2, 2010
One to Two Unit or 5+ multi-family. Stay away from Three to Four Unit.
Expenssive to finance and hard to sell.

Happy funding, Rudi
0 votes 4 answers Share Flag
Sun Apr 18, 2010
Matt Taylor answered:
Hey Rwdfinch,

I am assuming your home will not qualify FHA due to the septic/well distance or some other FHA formality. Regardless of that, a conventional loan at less than 50% ltv with a 687 fico should be more than sufficent. If you want me to check out the other qualifications (income) please feel free to contact me.

Thank you,
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0 votes 5 answers Share Flag
Tue Jan 19, 2010
Dallas Texas answered:
If there is an argument best have a real estate attorney resolve your issues than a divorce. If you don't agree can cause many problems within your family.

Lender will do a title search determine who is on deed it will show your name

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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1 vote 4 answers Share Flag
Thu Feb 19, 2009
Amy asked:
We purchased our first home in 2008 but were told we did not qualify for the tax credit because we did not take the downpayment money from a retirement plan or 401K and incur penalties but…
0 votes 0 Answers Share Flag
Mon Feb 16, 2009
sherlyn harrison answered:
Hi Justin,
How are you, if you are talking about Keystone, think they can just work the numbers so you don't have a payment for a year, but you are still paying over the long term.
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