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Financing in Little Rock : Real Estate Advice

  • All201
  • Local Info15
  • Home Buying81
  • Home Selling25
  • Market Conditions6

Activity 14
Tony Grech, Real Estate Pro in Southfield, MI
Tue Mar 10, 2015
Tony Grech answered:
no she can't be added to the existing loan. However, you may want to refinance anyway and just add her on at that time.

Reason being is that as of January 26th FHA reduced their PMI requirements. So on a refinance you can lower your PMI AND add her on. Depending on what rate you're at now you might even be able to lower your rate a little too.

Just an idea...
... more
0 votes 3 answers Share Flag
Josh Barnett, Real Estate Pro in Chandler, OK
Fri Nov 7, 2014
Josh Barnett answered:
Brian Nguyen, Real Estate Pro in Mission Viejo, CA
Fri Apr 4, 2014
Brian Nguyen answered:
It can be extremely difficult to get a home loan without a down payment unless you are a veteran or seeking a USDA/rural approved property. If this applies to you then I suggest looking into a VA or USDA loan. Other than that, you will need a down payment. The smallest down payment would be an FHA loan which only requires 3.5%. There are also down payment assistance programs that you can look into depending on your area. Either way, the best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
... more
0 votes 1 answer Share Flag
Reggie Crouse, Real Estate Pro in Little Rock, AR
Tue Sep 10, 2013
Reggie Crouse asked:
Barbara Sall…, Real Estate Pro in Little Rock, AR
Tue Jun 18, 2013
Barbara Sallen answered:
Hi Chris,
If your credit is less than 'perfect', it probably took a bit of time and missteps to get it that way & it will take some time and work to get it into shape. If you are willing to put in the work, with a great agent and a mortgage banker on your team to guide you, it can certainly be done.
The first step is the first step: From TODAY forward, pay all of your bills on time. Then give me a call and we'll sit down and figure out where you are so we can route a path to get you to your destination.
Barb Sallen
(501)240-6001
GREAT agent with Keller Williams in Little Rock, AR
... more
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David W. Bol…, Real Estate Pro in Little Rock, AR
Thu Mar 28, 2013
David W. Bolick answered:
Scott Deaton, Real Estate Pro in North Little Rock, AR
Wed Dec 5, 2012
Scott Deaton answered:
As John references below, the guidelines are determined by FHA, not the specific lender that you choose. The lender is dictated to follow the FHA guidelines. The primary questions are which lenders will fund a FHA 203K loan and does the property qualify? There are not very many lenders in Central Arkansas who will fund a 203K loan. I have many different lender contacts and would be glad to make some calls to see who is available. You can contact me at 5015809151 or scottadeaton@sbcglobal.net and lets discuss the options. ... more
0 votes 2 answers Share Flag
 Kelso, Real Estate Pro in Little Rock, AR
Fri Apr 27, 2012
Kelso asked:
Roussel Team…, Real Estate Pro in Conway, AR
Fri Sep 9, 2011
Roussel TeamRealtors Blake Roussel answered:
David, I am sorry you had to go through that experience. I too have unfortunately had to do something similar. As for selling your home... I would definately wait until your plan is almost over. You don't want your house to sell and you not be able to get financing for a new home. So my advice for you is to wait until you have about 2-3 months left then you can look at putting your house on the market, and start looking at a new purchase. Most likely if you looked now, there wouldn't be any of the same properties on the market. If you have any further questions i would be more than happy to help answer any of them.

YourExitRealtor of Central Arkansas
www.yourexitrealtor.com
... more
0 votes 6 answers Share Flag
Linda Holman,  in Fresno, CA
Thu Jun 9, 2011
Linda Holman answered:
If your state is a community property state you may also have some issues, I suggest talk to a local mortgage broker. Your real estate agent probably know a few good lenders.
0 votes 5 answers Share Flag
ANDREW OLLICK, Real Estate Pro in NAPLES, FL
Tue Aug 31, 2010
ANDREW OLLICK answered:
Hope Path offers 97% LTV loans, however the rates for having such a high ltv are horrible.
Your best option would be FHA or USDA with 3.5% or 0% down if the area qualifies.

Elena Ollick
Amerivest Realty
Faith Home Loans
239-206-4500
eo@oceanhomesrealty.com
skype: napleshomes
www.andrewollick.com/realestateblog
... more
0 votes 4 answers Share Flag
Steve,  in 95624
Fri Jul 24, 2009
Steve answered:
FHA is a great way to go for low down payment loans that are owner occupied.
0 votes 2 answers Share Flag
David W. Bol…, Real Estate Pro in Little Rock, AR
Thu Apr 2, 2009
David W. Bolick answered:
Botttom line is the loan you get is based on the house and not you, so you can't pull money out.
0 votes 4 answers Share Flag
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