Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in North Carolina : Real Estate Advice

  • All460
  • Local Info33
  • Home Buying255
  • Home Selling49
  • Market Conditions10

Activity 404
Fri Jan 5, 2018
Ndwilli6 asked:
Value - $80,000.00, currently owe - $49,500.00, looking to receive new loan of $60,000.00 with minimal closing costs (will accept higher interest rate for lower CC).
0 votes 0 Answers Share Flag
Thu Dec 28, 2017
Jesse answered:
We have a Jumbo product that will fit your needs. I'm with Caliber Home Loans, you can email me at jesse.rivera at Caliberhomeloans.com
0 votes 1 answer Share Flag
Thu Nov 30, 2017
Tatiana asked:
I’m working with a lender to buy my first home using a 30 year FHA and a grant for downpayment assistance. I am an under contract on a home that is $14,000 more than the lender is saying…
0 votes 0 Answers Share Flag
Tue Nov 28, 2017
Searchingforhomes2018 asked:
I've been searching for days and I cannot find the current interest rate for a Fannie Mae HomeStyle Renovation mortgage. I have a 760 credit score and this lender is giving me a 4.75…
0 votes 0 Answers Share Flag
Wed Nov 22, 2017
Edith Kimball asked:
Went under contract today for 417k home. Lender pre approved us and was told could get 3 of the 3.5% down payment grant. Nothing has changed since pre approved but was told income too much…
0 votes 0 Answers Share Flag
Thu Nov 2, 2017
Jpotter92 asked:
can my lender request the child support order if it no longer shows as garnished from my check?
0 votes 0 Answers Share Flag
Tue Oct 24, 2017
Kathy Burgreen answered:
I've worked with lenders as a former realtor. Lenders will NEVER loan you money against an ESTIMATED value of a home. In order to qualify for a loan, your home MUST BE appraised by a LICENSED appraiser. All online estimates are worthless because they have not seen your home in person.

Website estimates are based on public information provided by your county tax assessor. Public information includes property taxes paid, last sold dates and prices, lot size, square footage, number of bedrooms, bathrooms, etc.
Online estimates do NOT include: condition of your home, layout, neighborhood information, school district information, style of home, etc.
... more
0 votes 2 answers Share Flag
Mon Oct 2, 2017
Kat Vance asked:
Cash ready for down pymt, self employed w/ LLC . We do our own taxes, no professionally done P&L, but can show regular bank deposits of income. This business is less than 2 years old.…
0 votes 0 Answers Share Flag
Mon Oct 2, 2017
agency_position asked:
Looking at doing some home improvements, maybe 25K worth, and exploring the option of an IO refi loan versus a HELOC. We have about $100K in equity so Im not worried about zero equity over…
0 votes 0 Answers Share Flag
Tue Sep 19, 2017
Jszalay answered:
CONDOTEL FINANCING NC and SC -

Good Afternoon,

I wanted to post that our bank, CresCom Bank lends in NC and SC and has over 145
condo projects approved to lend in that are either CONDOTEL or NON-WARRANTABLE CONDOS.
Fixed rates are available
Please email or call me anytime

CresCom Bank
John Szalay
Retail Mortgage Loan Officer
910-726-1504
jszalay@haveanicebank.com
NMLS# 147134
... more
0 votes 2 answers Share Flag
Thu Sep 14, 2017
Bsm0525 asked:
I'm trying to find a lender who is able to use Fannie Mae's new Alimony rules which allow alimony to be deducted from income instead of raising the DTI

"For alimony obligations, the lender…
0 votes 0 Answers Share Flag
Sun Aug 27, 2017
Bcrandall03 answered:
Fri Jun 9, 2017
Ndwilli6 asked:
Purchased home for $90,000.00, received loan amount of $95,900.00, which is 70% of ARV. The ARV is no less than $137,000.00.

Again, here are details:
Closed on home—05/26/2017
Renovations…
0 votes 0 Answers Share Flag
Wed May 10, 2017
answered:
There are now mortgages for CRNAs that offer lender paid mortgage insurance and only count your current monthly student loan payment in your debt to income ratio. This is a really great option for CRNAs with high student loan debt. ... more
1 vote 12 answers Share Flag
Fri Mar 3, 2017
Simon asked:
4 years tax records. Have a full-time job. In the middle of applying a non-profit H1b visa. But in F1 (OPT) visa with EAD card (work permit).

Can people with above situation get a home…
0 votes 0 Answers Share Flag
Tue Feb 28, 2017
answered:
Hi Rob,

There are two things that factor into whether or not a debt will be excluded when there is less than ten months remaining.

The first one is are we talking about a car lease? If so, an underwriter will not excluded it because they know once the lease is up you are going to lease or buy a car to replace it so you will still have a payment.

The second factor has to do with the actual payment. The exact guidelines state:
If the amount of the debt will affect the borrower's ability to pay the mortgage during the months immediately after loan closing, especially if the borrower will have limited or no cash assets after loan closing.

As you can see, this is not as simple of an answer as it seems.

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
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
... more
0 votes 2 answers Share Flag
Tue Feb 7, 2017
Scott Godzyk answered:
Just like a full appraisal, a bpo will be only as good as the person doing it. You can ask if you can hire the bpo agent so you can choose an experienced one. If not you should be there for the bpo, Have a list of all improvements, upgrades, what is new and or adds value to your home. If you know an agent, have them pull comps for you so you can go over and give to the bpo agent. ... more
0 votes 1 answer Share Flag
1 2 3 4 5 6 7 ...
Search Advice
Search

Followers

89