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Manhattan : Real Estate Advice

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Activity 49
Sun Mar 20, 2011
Beth A.Mitro answered:
What Manhattan are you refering to? Moving to or from? I can refer you to an agent exactly where your going, just unsure where that is.
Thank you,
Beth Mitro
MitroTeam@cox.net
702-285-7778 ... more
0 votes 13 answers Share Flag
Sat Feb 19, 2011
Matthew De Fede answered:
I would check with your mortgage broker, with VA loans you do not have to put that much cash down
0 votes 7 answers Share Flag
Sat Jan 15, 2011
Brandon Funk answered:
Visit the following City of Manhattan web page for answers to your question regarding rental property inspections. http://www.ci.manhattan.ks.us/FAQ.aspx?TID=21 There are several reputable property management companies in the Manhattan area. I would suggest contacting at least 3 to interview and get an outline of the terms and costs involved in employing a property manager as well as an estimate on the rent you can expect to receive. ... more
0 votes 1 answer Share Flag
Thu Sep 23, 2010
Kelvi Cunningham answered:
I hope that since April you were able to find a rental property that suits you. Do you still need help you evaluating your rental options in Manhattan? I see you did not get any answers to this post back in April. I would assume that is because your question did not include a specific address. If you are needing any future assistance, I'd be more than happy to help! Thanks! ... more
0 votes 1 answer Share Flag
Thu Sep 23, 2010
Kelvi Cunningham answered:
I see you posted a question concerning lending back in May. I seems like you have been doing a lot of thinking and a lot of research. Good for you! Doing research and making sure that you are making the right moves that are the right decision for you and your family is the best thing you can do! Speaking with professionals here on Trulia and here locally in Manhattan is a great decision. The next step would be to decide to meet with a Realtor here in Manhattan that can work for you and in your best interest.

Kelvi Cunningham
... more
0 votes 4 answers Share Flag
Sun May 23, 2010
Andres Munar answered:
Short answer: BUY! Your home is the biggest asset you will posess. Also, you qualify for the VA loan, which is wonderful.

A VA Loan is one of the only loan programs that still allows the borrower to finance 100% of the home's value and purchase with $0 down. Now more than ever banks are requiring large down payments for conventional loans. In many cases they require 10-20% down, putting home ownership out of reach for many prospective buyers.

Military families using a VA Loan offers two benefits that will substantially lower your monthly payment. PMI, or private mortgage insurance, is not required on a VA loan. PMI is an added monthly expense required for conventional loans where the borrower finances more than 80% of the home's value.

Interest rates are also lower with a VA Loan, typically 0.5%-1.0% lower than a conventional loan.

The qualification guidelines are less stringent for VA Loans. Because the loan is backed by the government, banks have relaxed the often strict lending rules for VA Loan applicants making them easier to obtain.

The Department of Veteran Affairs requires those who offer VA Loans go through a stringent approval process. We are proud to be a VA approved lender.
... more
1 vote 5 answers Share Flag
Thu Apr 1, 2010
Debra (Debbie) Rose answered:
Hi again Mikey..........it's me again!

Just because one "can" do something..... doesn't mean they should.
Sure - you might be able to find some program that can get you into a home with no money down, but I strongly advise against that.

As Dan and Michael have noted, home ownership is way more than just getting to the closing table.
You need to have the discipline to save (and that's what it appears you need to work on) for unforeseen home repairs and basic home maintenance.

In addition, any financial planner worth anything (think Suze Orman) will advise you to have a cushion of at least 3, with 6 being optimum, monthly expenses put away in savings.

You have none of the above.

You are young, and should start off on the right foot..................get into a habit of saving money........build up a reserve and cushion for that down payment and other expenses......and then you will be ready to move forward with a home purchase.

Don't jump in, and then find out you aren't prepared to stay afloat!

Just my advice ...........with my Realtor hat on, not my mommy hat!.

Best wishes...........
Debbie

ps While you're busy saving up for that downpayment and financial cushion, do start to educate yourself on the home buying process......so....when the time comes, you will be ready, willing AND able!
... more
0 votes 8 answers Share Flag
Thu Apr 1, 2010
Cw answered:
Good Morning Des,
You have a lot of good things going for you, but there is more information required to give an accurate answer to your question. We are a lender located in KC, and are an FHA, VA, USDA approved lender. Both of the answers already given are correct, but you mention you work for the Govt....have you ever been in the Military? Do you qualify for VA?

I would like to ask you a few questions, if you have the time to discuss in more detail over a phone call please call to discuss.

Craig Wells
Assured Mortgage
Kansas City
877-468-1209
... more
0 votes 2 answers Share Flag
Mon May 4, 2009
Katie Wolf answered:
I realize inspections are complete, but are you still within the inspection period? I would suggest since you are not represented that you call an attorney (and for future purchases find a buyers agent). You do hold quite a bit of risk in this situation. ... more
0 votes 1 answer Share Flag
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