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Financing in Montgomery County : Real Estate Advice

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Activity 73
A few minutes ago
Frank S. answered:
Hello Jazmine, your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the purchase.

If you are both going on the loan the middle score of the lowest fico scored applicant will be the scores that the interest rate and program options will be determined. If you have lower scores between 500-579 you may consider 10% down FHA and minimum 580 fico score may consider 3.5% down FHA. A minimum 620 fico score may consider from 3% down conventional.

How much do you pay in rent and what is the maximum payment you are looking to afford? If you figure out what cities/zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are looking to achieve and you can be emailed listings to fit your search criteria. Check out the web reference link below...
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Tue Jul 25, 2017
Mark Howe answered:
Hello,

Bank of America has an excellent Doctor Loan program for permanent financing, where we allow up to 95% LTV with no PMI. This program is open to Doctors and Dentists, but unfortunately not Pharmacists. I was unsure if your comment is referring to you being a pharmacist and perhaps your co-borrower being a doctor, so I thought I would at least offer this information.

In your situation we could offer this loan for permanent financing only, so the construction would have to be near completion. Feel free to reach out to me if you have any questions about our Doctor Loan program, I am happy to help!

Sincerely,

Mark Howe
Senior Lending Officer
Bank of America
NMLS # 870634
Phone: 360-643-1471
Email: markhowe@bankofamerica.com
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0 votes 1 answer Share Flag
Sun Jun 18, 2017
answered:
Hi Anja_kiy,

Maybe on a refinance but not on a purchase.
I pretty do nothing but VA purchase loans & I never have a problem with appraised values.

What's interesting is typically the appraised value comes back right at the contract price.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
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0 votes 1 answer Share Flag
Fri Apr 7, 2017
Eric W Vander Werff answered:
Hi, I have helped dozens of borrowers all over the country to buy or refinance while in Chapter 13 bankruptcy. Please do reach out if you have questions about your particular situation.
0 votes 10 answers Share Flag
Sun Dec 25, 2016
Jonathan Lahey answered:
Yes i also agree .. all of the proof of income should be present upon purchasing a home to be approved.
0 votes 8 answers Share Flag
Mon Nov 21, 2016
Walsheappraiser answered:
Check the Fannie Mae guidelines for Lending for properties with accessory units. It is often impossible in some markets to meet the stringent guidelines.
0 votes 12 answers Share Flag
Fri Aug 19, 2016
Feng asked:
I am a green card holder and my wife has j-1 visa and she works for NIH.
We want to give an offer. The loan amount based my own salary is not enough.
Is it possible for us to apply mortgage…
0 votes 0 Answers Share Flag
Mon Aug 15, 2016
Jonathan Lahey answered:
You can ask some advice to those experts with this kind of situation!
0 votes 7 answers Share Flag
Tue Aug 2, 2016
Jonathan Lahey answered:
There are lenders who can help you with your credit scores so you can purchase a home.
0 votes 10 answers Share Flag
Wed Jun 8, 2016
Louispark1 asked:
I'm trying to close on a condo quickly and having some lender issues since the place isn't FHA eligible/Fannie Mae warrantable (whatever that means)

I have two quotes from lenders; one…
0 votes 0 Answers Share Flag
Wed Aug 12, 2015
Investinahome answered:
I am a realtor and my client is scheduled to close with her CHIP program instead of FHA due to it being a better program for her. The program is better due to she is Not a first time home buyer, not PMI, fixed rate and 100% financing. This is in the Charlotte, NC area.

So therefore, if I was looking to purchase a home today, I would go with the CHIP program.

Phyliss Twitty
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1 vote 8 answers Share Flag
Tue Aug 4, 2015
Irenelori answered:
Veterans Affairs mortgages, or VA loans, have become lifesavers for homeowners struggling to refinance with conventional loans.

Low mortgage rates and tighter underwriting standards have led to a huge demand for VA loans from refinancers, says Michael Frueh, loan guaranty director for the Department of Veterans Affairs.

The biggest advantage of refinancing with a VA home loan is that homeowners can refinance up to 100 percent of the home's value, and they don't have to pay for mortgage insurance. A non-VA home loan normally requires some equity in the house.

"As values in the market continue to stabilize, veterans can take advantage of lowering their interest rates to today's unprecedented lows," says Deborah Ames Naylor, executive vice president of mortgages at PenFed, the Pentagon's credit union.

If you are a member of the military on active duty, a veteran, a reservist or a member of the National Guard, here are some refinancing options you may consider when it comes to a VA home loan.



Read more: http://valoanguidelines.org/funding-fees-pmi/
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3 votes 5 answers Share Flag
Fri Jul 10, 2015
Kenji Inui answered:
To add to the correct answer from Cstumbaugh... if your appraisal is a VA or FHA appraisal it can be transferred to your new lender upon payment. If you would like to work with another lender let them know about this and they may be able to assist. ... more
0 votes 2 answers Share Flag
Thu May 14, 2015
Diana Rice answered:
The higher your score the more choices you'll have. You can get a loan with score under 600 but it will not offer you the best rate/terms; if increasing your score is an issue, then do the best you can and refinance in the future. I know lenders that will lend with 585, if you qualify. Feel free to call Diana 301 570 5420 ... more
0 votes 11 answers Share Flag
Fri Mar 21, 2014
freedomplace0012 answered:
Hello,

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Act fast and get out of financial stress, mess and hardship by contacting VAN DER MERWE RICHARD DANIEL Loan Corporation Today via Email at: freedomplace0012@gmail.com .You shall be treated with the best of our resources until you get this funds transferred into your account, and your quick and fast respond determines how fast you shall be receiving your loan. Without any delay Apply for your best and easy Loan here with us. Please email to us via

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Best Regards
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0 votes 6 answers Share Flag
Fri Mar 7, 2014
Brian Nguyen answered:
If you are not looking for FHA there are other options available to you that require less than 20% down. There are conventional loan options that only require 5% and 10% down. This may be a great route to take considering your situation. 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
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0 votes 6 answers Share Flag
Mon Jan 20, 2014
Charity Iheagwara answered:
Hi, congratulations on your decision to pursue a career in real estate. This is a great time to join the real estate industry. The first step is to take a course which you complete in the classroom or online. Then you get a licence. I am with a real estate company that provides you with more than just commissions; residuals, retirement... Please give me a call today for more information. I can be reached directly at; 202-640-0100. ... more
0 votes 3 answers Share Flag
Fri Jan 10, 2014
The Roskelly Team answered:
The underwriting process generally take 1 - 3 days. However, I am not familiar with the term "test case" and what the implications of that are. Did your lender provide you with an explanation? ... more
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Thu Oct 17, 2013
john124 answered:
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... more
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