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Financing in Miami Beach : Real Estate Advice

  • All949
  • Local Info40
  • Home Buying242
  • Home Selling19
  • Market Conditions27

Activity 14
Tue Aug 2, 2016
Markzjordanz answered:
No credit check, 1 percent interest 30 year fixed, 4.5 proof of funds in which u can use vet status or 401k, the property has to be appraised at 350 k and up. 30 day close, 8037576801
0 votes 22 answers Share Flag
Wed Jan 15, 2014
Martha B. Babot answered:
Yes ,of course!...

You can have a loan with that credit score,also you need to prove the Income,and we have to checks your debt obligations.
Contact me any time.I am here to work for you!

Martha B.Babot
... more
0 votes 16 answers Share Flag
Tue May 28, 2013
Pedro Acosta answered:
Hello if you are interested I can put you in contact with our preferred Lenders and They will let you exactly for how much you qualify and the kind of program they can offer. Send an email or call me for more details.
Thank you in advance and best regards,

Pedro P. Acosta
Broker Associate
District Manager
Real Living-First Service Realty
975 Arthur Godfrey Rd. #101
Miami Beach,Fl,33140
Cell 786 326 1975
Off 305 531 9990
Fax 305 531 9996
... more
1 vote 3 answers Share Flag
Tue Jan 8, 2013
John Bennett answered:
I have done several thousand BPOs and I have some thoughts on this, issue.

When ever I see sales of homes, condo, etc done by developer people, It is normally Higher than
sales done by REALTORS. You know the developer sales people work for the developer, their JOB is to get the highest price. It is not their job to give the buyer a CMA (BPO) to buyer to show them what the market value is - it's their job to move their bosses property at the best margins to the boss.

Just this morning, had 5 comps in same development, all built by same builder, all sold in past 6 months, homes very similar. 3 of the sales by Realtors came in from 415k to 456K. The two by Developer people (no Realtor buyer agent involved) came in at 575 k and 585K.
It is my policy not to use comps that do not follow the market in fair market arms length transactions, and I bet that just might have some of the same thoughts.

... more
0 votes 7 answers Share Flag
Tue Jan 8, 2013
Steve Vinson answered:
Geraldine...below are the different requirements for streamline refi's. You may have to copy and paste. But the best thing you can do right now is confirm information through these sites before you smack your banker for costing you money. The 3 addresses below are for different loan types. One is fanniemae/freddiemac, the other is FHA.

Yes, appraisals expire 6 months after the date issued. But the bank should have told you about the streamline, but hey they make more money with a new loan. See, your loan was probably sold off to one of the people below and your bank only services your loan, in other words they don't own it. They make on average .25% of your payment to collect money for one of these 3 below. If they do a new loan, which is what your'e doing, then they make all the fees....again, then they sell your loan to the same people, and the cycle starts over. Do some homework this weekend then go for the smackdown!! ! I'm teasing of course
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1 vote 8 answers Share Flag
Sat Oct 6, 2012
andypsm answered:
what is the requirement for Foreign Investors Mortgages and what sort of rates apply
1 vote 7 answers Share Flag
Fri Jul 6, 2012
Salvador Caballero answered:
I'd be happy to introduce you to City24 on
Biscayne Blvd. It is minutes to the Beach.

0 votes 3 answers Share Flag
Fri Nov 18, 2011
Steve Vinson answered:
Just for you Zerty.......

Steve Vinson
Clearwater Federal Mortgage
NMLS #314005
0 votes 4 answers Share Flag
Sun Jun 26, 2011
Alma Kee answered:
Hi Ivan,

It doesn't sound right that Fannie Mae would not agree to lower the sale price to the appraisal value. You may want to ask your agent to get the Fannie Mae Amendment form and complete it and send with a copy of the appraisal to the listing agent. Of course, if they had multiple ALL CASH offers above your $186k appraisal then they may question the validity of your appraisal.

Then as far as your mortgage, you may want to do a Fannie Mae HomePath Renovation mortgage. Not many lenders will do these loans but I do know that Regions Bank will. They have a local office in Miami Beach :

Also Colonial Mortgage will do the HomePath Renovation. Here's an outline of Colonial's process on a HomePath Renovation mortgage:

Hope this helps.

All the best,
... more
0 votes 4 answers Share Flag
Mon Feb 7, 2011
Obdulio Pete Mateo answered:
There are private lenders that will generally jump on a loan at 50% LTV (loan to value). However if the property is a condo, the actual stability of that condo will be a bigger influence on you obtaining the loan, a high foreclosure rate will be a concern as to the general welfare of the buiding. ... more
0 votes 14 answers Share Flag
Sun Jan 31, 2010
Andre Shambley answered:
Hello Silvia,

My name is Andre. I'm a real estate agent with MBRET/Herman Group, Inc located in Aventura and an investor as well. I work directly with an agressive local lender that has a foreign national lending program. I contacted the Account Executive over there after reading your post. Below is the information the AE sent me on their current foreign national program:

Send me an email if you need more information.

Foreign National Programs

We have a variety of foreign national program specifically for many types of circumstances such as properties types, Loan-TO-Value, Country of Origin and types of purchases.

Today's HOT program: Foreign national condominiums purchase up to 65% LTV.

Loan Programs Available:

+ Loan amount $50,000 to $2 millon
+ 1-3-5 year fixed

Property types:

Residential Property Types

+Single Family Homes
+ Townhomes
+ Condominiums
+ Condo-hotels

Loan Types

+ Owner Occupied
+ Refinance
+ Refinance Cash-out
+ Investment (more than one OK)
+ Second Home

Commercial Property Types

+ Multifamily
+ Office Building
+ Retail Centers

Loan Types

+ Purchase
+ Refinance
+ Refinance Cash-out
... more
0 votes 5 answers Share Flag
Sun Jun 14, 2009
Josh Lerette answered:
Hello Debbie,

I hope you found all the information you needed. It looks like you received some very good answers. If you would like to discuss your financing options any further, feel free to contact me. Not everyone is truly trained on FHA financing and handling purchase transactions which are two of my fields of expertise. Contact me today for a complimentary home buyer handbook that has everything you need to know about home financing.

Joshua Lerette - The Tampa Bay Mortgage Pro
Innovative Mortgage Services, Inc.
... more
0 votes 6 answers Share Flag
Wed Feb 25, 2009
Catherine Kim Owens answered:
do you have a green card? I am a realtor and a mortgage broker. I can get foreign nat'ls a loan w 30-40% down. However, the rate will be determined by the risk, i.e. which property you're buying...a house or a condo? and whether that building meets the FNMAE's new regulations. Also, if you are fr Columbia, Venezuela, the criteria is a little different.

Let me know when you get ready to start looking at properties. I'll be more than happy to hellp you search and get financed. Catherine Kim Owens P.A. 954-536-0648;
... more
0 votes 3 answers Share Flag
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