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Midland : Real Estate Advice

  • All135
  • Local Info9
  • Home Buying45
  • Home Selling6
  • Market Conditions10

Activity 124
Wed Aug 9, 2017
asdf answered:
If you are applying for a loan, they want to see what assets you have.
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Fri Mar 17, 2017
Hello Feign.brio, you can raise the interest rate slightly and cover costs. You may also consider a lesser down payment program.

You may consider 5% down Jumbo with a minimum 720 fico score from 424k up to 1.5 million and 10% down from a minimum 680 fico score and up to 2.5 million. You will need 20% down to purchase over 2.5 million.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA or CalVet loan specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
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Thu Mar 2, 2017
Elavonne asked:
Thu Feb 9, 2017
Betenbough Homes answered:
Hi Frank,

We are excited that you're considering building a new home with Betenbough Homes! We know looking for a new home can be somewhat overwhelming, and wanted to provide a couple of resources we hope will be helpful in your new home search.

Our Foundation of Quality website explains more about our building process and how we make an effort to curb our costs in order to provide our customers with an affordable home that still has great products and options.

You can also find Betenbough homeowner reviews here:
... more
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Fri Dec 9, 2016
Jeremy Morgan answered:
FHA loans provide great assistance to many first time home buyers by offering mortgage loans with lower down payments. While this is a benefit for many people, recent changes in policy may have put the loans just out of reach for some would-be homeowners with questionable credit history.
Credit History and Score Requirements
For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, which is currently at around 3.5 percent.
If your credit score is below 580, however, you aren't necessarily excluded from FHA loan eligibility. Applicants with lower credit scores will have to put down a 10 percent down payment if they want to qualify for a loan.
So if you're planning to buy a house, and your credit score doesn't meet the minimum, you should weigh the advantages and disadvantages of putting down a larger down payment or using those funds to try and improve your credit score first.
Benefits of an FHA Loan
The reason why FHA loans are so popular is because borrowers that use them are able to take advantage of benefits and protections unavailable with most traditional mortgage loans. Loans through the FHA are insured by the agency, so lenders are more lenient. Here are a few benefits you can enjoy with an FHA loan:
Easier to Qualify
While most loans exclude applicants with questionable credit history and low credit scores, the FHA makes loans available with lower requirements so its easier for you to qualify.
Competitive Interest Rates
You've heard the horror stories of subprime borrowers who couldn't keep up with their mortgage interest rates. Well, FHA loans usually offer lower interest rates to help homeowners afford housing payments.
Lower Fees
In addition to lower interest rates, you can also enjoy lower costs on other fees like closing costs, mortgage insurance and others.
Bankruptcy / Foreclosure
Just because you've filed for bankruptcy or suffered a foreclosure in the past few years doesn't mean you're excluded from qualifying for an FHA loan. As long as you meet other requirements that satisfy the FHA, such as re-establishment of good credit, solid payment history, etc., you can still qualify.
No Credit
The FHA usually requires two lines of credit for qualifying applicants. If you don't have a sufficient credit history, you can try to qualify through a substitute form.
For many home buyers, using an FHA loan can really make the difference between owning your dream house comfortably or turning it into a financial nightmare. The FHA provides a wealth of benefits for applicants that qualify, so make sure you're making full use of them.
... more
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Mon Dec 5, 2016
Good morning Bonnie529,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. It is unlikely you could be approved for mortgage financing with that credit score at this time. You need first to embark on a serious campaign to increase your credit scores.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Get a referral to a Local Mortgage Banker. Mortgage Bankers in your community will provide you with a much higher quality of service and financing options than any "Big Bank." Local Mortgage Bankers have long been the source of excellent financing options for homebuyers and homeowners. Further, Loan Originators who work at Mortgage Banks are LICENSED whereas Loan Originators who work for the "Big Banks" are only REGISTERED. There's a BIG difference.

Sit down face to face with your Mortgage Banker to be thoroughly prequalified. The Mortgage Banker will review your credit report and assist you in identifying areas where you can immediately begin improving your scores.

Trevor Curran
NMLS #40140
... more
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Wed Oct 19, 2016
Jasonskate4 asked:
The way the site was set up before was much better.
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Wed Oct 19, 2016
Jasonskate4 asked:
The way the site was set up before was much better.
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Fri Sep 9, 2016
K_fowler82 answered:
My house is for rent if you're interested.
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Wed May 25, 2016
Feign.brio asked:
Price of homes have dropped, but should i wait and see if they lower more and can I negotiate price. Also should i buy new or old.
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Wed May 25, 2016
LystHouse answered:
At LystHouse, we only charge 1% on the seller side vs the traditional 3% because we leverage technology to do the heavy real estate lifting. This allows us to save our clients thousands of dollars. If you are thinking about selling give us a call at 855-866-8339 or sign up free at ... more
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Sun Apr 24, 2016
Godzillabride asked:
It's only a very small shed but she would be close and able to use our facilities, etc. She would have some privacy.
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Fri Aug 28, 2015
Cindy Roberts Richardson answered:
we have our house for sale by owner! 4001 edgebrook drive. has the listing. Tons of updates on a 4 br 3.75 ba 2 living 2 dining 3 car garage with pool. call 337.349.0311 if you are interested. $539,000 asking price and if you do not use a realtor we would negotiate. ... more
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Thu Aug 27, 2015
Cindy Roberts Richardson asked:
our home is 4001 edgebrook dr midland tx. we bought it in january 2014. we have just listed it for sale by owner august 25 2015. Delete the old listing please. we have it listed with…
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Sun Aug 23, 2015
Joseph Lamont answered:
You can always submit your best and highest offer and see what comes of it. We are in a strong sellers market. Just have your realtor work their magic.
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Sun Jun 28, 2015
Kirsten Prizzi 239-248-1667 answered:
First at all set up an appointment to view the property. If no one is available to show you the property I would walk away.

I had my own house listed for sale about 2 years ago. While my house was already pending I received a call from a realtor colleague asking me if my house is for rent as well. I find out that somebody from out of the country took my listing information and pictures from some website and listed it at for about $ 500 under rent rates in my neighborhood. I contacted this person and asked to take it down. They responded I must be mistaken. I clearly was not mistaken about my house and my furniture and I had to contact Hotpads myself to take my house down.

Be careful!
... more
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Tue Mar 10, 2015
laurie6904 answered:
My husband and I moved to Midland and purchased a Betenbough Homes and felt very comfortable not using a realtor. We saved money for my husbands company and Betenbough was very honest during the entire process. ... more
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Sun Jan 18, 2015
Tim Moore answered:
I would call a local Realtor and ask for their help.
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