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Financing in Lawrenceville : Real Estate Advice

  • All428
  • Local Info50
  • Home Buying112
  • Home Selling4
  • Market Conditions17

Activity 15
Solomon Gree…, Real Estate Pro in Duluth, GA
Wed Sep 7, 2016
Solomon Greene answered:
Hey Ms. Coleman,

I mean no disrespect to my colleague, but a trusted, local, direct lender has advised that you can no longer remove PMI from an FHA Mortgage once your equity position reaches 22%. You can, however, refinance into a conventional mortgage after one year.

You can find out what other properties have sold for near your Gwinnett County home at the link below.

Good luck.
Solomon Greene
678-775-2677
... more
0 votes 2 answers Share Flag
John Hutson, Real Estate Pro in Lawrenceville, GA
Wed Mar 25, 2015
John Hutson answered:
The answer involves a in depth conversation with a Real Estate professional, Please contact me at 4046430356 or email at jhhutson@gmail.com
0 votes 7 answers Share Flag
Jimmy Payne, Real Estate Pro in Alpharetta, GA
Sun Jan 4, 2015
Jimmy Payne answered:
This is a question for your divorce attorney. The biggest issue is the money you would be using for a down payment may be considered joint funds. Also, the lender may not allow a loan since you are married and there is a risk of having a lien placed on the home by your soon to be ex once the divorce is settled. Good luck and I hope your attorney and lender will allow you to purchase now, it is a great time to buy. ... more
0 votes 4 answers Share Flag
Cottell Coop…, Real Estate Pro in Duluth, GA
Tue Dec 16, 2014
Cottell Cooper answered:
Hello New Home Buyer,

I am a full time real estate agent that researches and markets local homes in your area. I work with ALL transaction big or small and provide the same service in any situation. You are in the best possible position to make an investment now.

My company has in house financial services division which works with all lenders to help secure your next home.

Cottell Cooper
BHGRE Metro Brokers
678-886-2111
cottellcooper.metrobrokers.com
newgwinnetthomesforsale.com
... more
0 votes 6 answers Share Flag
Joycelewis412, Home Buyer in Sacramento, CA
Sun Aug 25, 2013
Joycelewis412 answered:
You don't have to wait for 2 years. Some private lenders are very flexible with their requirements. Check if you qualify for a mortgage. Try www.whywaitbuytoday.com
0 votes 4 answers Share Flag
Morgan Campb…, Real Estate Pro in Valdosta, GA
Mon Dec 3, 2012
Morgan Campbell answered:
A social security number is required for a mortgage. Loan approval is dependent on your credit history and credit score, not the amount of your down payment. If your credit score is at least 620, I can pre-approve you for a conventional loan. You can do 15% down payment with mortgage insurance or 20% down payment with no mortgage insurance. I can also do a Home Path Investor Loan for you with only a 10% down payment with a minimum credit score of 700. I can close loans in 10 business days or less. Please let me know if you need any further assistance.

Regards,
Morgan Campbell , NMLS #957183
Mortgage Banker
Envoy Mortgage, Ltd.
Mobile: 229-563-5903
mcampbell@envoymortgage.com
Apply Online at http://www.ValdostaMortgages.com
Licensed in Georgia

Envoy Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
0 votes 2 answers Share Flag
Rick Payne As…, Real Estate Pro in Norcross, GA
Thu Aug 30, 2012
Rick Payne As Seen o n Hgtv House Hunters answered:
Hi Luz Rogel,

I work with several Mortgage Lenders that would be able to guide through the process of improving your credit score. You can contact me at 678-427-5512 or email me at repayne7@bellsouth.net to discuss which one of my Mortgage Lenders would best fit your needs.

I look forward to hearing back from you.

Have a Good Day,

Rick Psayne
Keller Williams Realty
... more
0 votes 3 answers Share Flag
William Pola…, Real Estate Pro in Suwanee, GA
Sat Jul 7, 2012
William Polack answered:
My apology for thinking inside the box. With your score and 5% down, you may also want to consider Freddie Mac loans. Freddie allows up to 50% of your gross income AND the mortgage insurance payment is a lot lower than FHA which means (from my previous reply) you would qualify for more house! So, ask your lender (probably Wells Fargo) to take you through Freddie Mac. ... more
0 votes 9 answers Share Flag
Bob Modesitt, Home Seller in Lawrenceville, GA
Sat Jul 7, 2012
Bob Modesitt answered:
Not too sure about the 550 for VA but I have a program that is not based on a "credit score." Please call me at (864) 546-0137 so I can explain.
0 votes 6 answers Share Flag
Sonja Tani, Real Estate Pro in SNELLVILLE, GA
Mon Mar 12, 2012
Sonja Tani answered:
Hi Bobby,

Your best bet is to contact a Private Lender. Foreign National financing can be tricky. If you are looking for a home to live in, you will need a lender who is licensed in the State of Georgia. They will finance you for an extended period of time.
If you are intending to purchase Rental Properties or buying to rehab and flip, you will need a Hard Money Lender. They will usually only finance for 6 to 12 monthe. Occasionally you'll find one that will finance for as long as 3 years. You need to make sure that they are versed in the Foreign National Regulations.
I can give you the information on a Lender who will finance either Owner/Occupant Mortgages or Hard Money Loans, depending on what you need. They fit either criteria. They will lend on a home or for investment purposes and they do not include a pre-payment penaly clause. Here is their contact information:

The Westmoore Group, LLC
www.westmooregroup.com
Ph: (646) 801-6190
Fx: (646) 619-4291

Best of Luck.
... more
0 votes 4 answers Share Flag
Rob Weber, Real Estate Pro in Plainfield, IL
Wed Dec 14, 2011
Rob Weber answered:
Katie is correct, those two programs are the best of the 'standard' programs to minimize your down payment. For a HUD home, you'll need to place a full price offer to get the $100 down incentive IF you're eligible for a loan at all by your lender.

Often times when you have no credit score, a lender will build a non-traditional credit report for you but you'll be required to put down a larger down payment (10-20%) as you have no credit score. I can't speak for all lenders but this is comon practice amongst major lenders.
... more
1 vote 11 answers Share Flag
Shawn Ryan R…, Real Estate Pro in Belleville, NJ
Wed Dec 14, 2011
Shawn Ryan Rosa answered:
question does not really make sense. please repost and try to be a little more clear so that we can help
0 votes 2 answers Share Flag
Shawn Ryan R…, Real Estate Pro in Belleville, NJ
Wed Dec 14, 2011
Shawn Ryan Rosa answered:
up front. most appraisers wont conduct the appraisal without being paid first. appraisal will be ordered when you apply for a mortgage after the contract is finalized
0 votes 9 answers Share Flag
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