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Opelika : Real Estate Advice

  • All27
  • Local Info2
  • Home Buying7
  • Home Selling0
  • Market Conditions1

Activity 28
Sat Nov 26, 2016
Kathy Burgreen answered:
I hope Trump's team takes away Section 8 because you people were stupid to vote for him. Hope you suffer under Trump. You don't deserve to rent anything.
0 votes 1 answer Share Flag
Mon Nov 14, 2016
Angelica P answered:
Hi,

At this time, unfortunately, we currently do not have listings for rent to own homes. You may try your luck though and search our website using the Keyword section of the search filter which can be found in the All Filters button. However, these listings are extremely rare.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/

Thank you for using Trulia!

Angelica
Consumer Care Advocate
... more
0 votes 2 answers Share Flag
Mon Nov 9, 2015
Kathy Lewis answered:
USDA is great for approved rural defined locations. Please contact us to discuss.

USDA Mortgage Hub
100% USDA Rural Housing Loans
Serving all 50 states
Ph: 800-691-8826 (7 days a week)
www.UsdaMortgageHub.com
... more
0 votes 4 answers Share Flag
Mon Oct 5, 2015
My NC Homes Team answered:
Honestly there's no such thing as it depends on what your building, how many levels (it's cheaper to go up than out) roof lines, finish materials, number of bedrooms, baths, the lot itself etc etc etc.

If you have a plan you need to take it and sit down with some reputable custom builders, this will be your most expensive option. If you're thinking of buying new construction there's likely a wide variety of national and regional builders working in and around Opelika and again prices will vary wildly.
... more
0 votes 1 answer Share Flag
Fri Aug 21, 2015
Javier Montiel - Top Local answered:
Thu Apr 9, 2015
aumoran asked:
I bought my house six months ago and notice it is still on this site as if it were still for sale WHICH IT IS NOT!
0 votes 0 Answers Share Flag
Tue Jan 13, 2015
Sarah Peace Friedman answered:
Good luck, there are not many rentals that allow pets. It's actually against the fair housing practices to discriminate against renters with pets, same as discriminating against folks for being a particular religion or color. However, I am in the same situation and therefore can tell you that its tough out there, unless you are willing to pay dearly (over 1k a month rent). Good luck and let me know if you find a landlord that allows pets, please! ... more
0 votes 1 answer Share Flag
Tue Apr 8, 2014
Jake answered:
We have a wonderful home for sale close to Beauregard. It is right by Southview Primary school. If you are interested in that area we could talk about lease to own options.
0 votes 2 answers Share Flag
Mon Mar 3, 2014
Jim Simms answered:
I would follow the advice of my realtor.

Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market. ... more
0 votes 3 answers Share Flag
Thu Jan 16, 2014
Aaron Sims answered:
Besides the excellent information provided already, most of the information on this site is public record information and would be very hard to have removed I would imagine.

Best of luck! ... more
0 votes 3 answers Share Flag
Thu Nov 14, 2013
Lars Estrem answered:
Here's a fire department Map

http://firedepartment.net/directory/alabama/lee-county/opelika
0 votes 3 answers Share Flag
Tue Apr 23, 2013
Rodney Mason answered:
I do not suggest doing lease purchases. There are simply way too many things that can go wrong with one from either side.

In order to do true owner financing, the owner must own the property free and clear of any mortgages. Very few sellers are going to be in that position.

If the property currently has a mortgage on it, the owner cannot legally transfer the title to a buyer without the mortgage first being paid in full. Most all mortgage loans have a due on sale clause. This due on sale clause requires that the mortgage be paid in full should a title transfer occur.

The buyer is also at great risk on a lease purchase transaction should the seller quit making their mortgage payments. Right now, many sellers cannot afford to make their mortgage payments or simply chose not to continue making them. I have seen where the buyer is making their rent payment, but then the owner is not paying the mortgage. The next thing the buyer knows is that the home is in foreclosure. That means the buyer will generally not get back any of the money they have given as earnest money or security deposits.

It is also a big risk on the buyer. If your credit is not where it needs to be now, there is no possible way of you knowing it will be acceptable in a set amount of time.

Before entering into any type of agreement like that, the buyer needs to make sure that they fully understand the potential pitfalls that could arise. Should the seller default on the mortgage, the buyer could lose ALL of the money that they have invested. Until you are able to purchase, renting is generally the safer option.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options to see if purchasing might be a possibility for you. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 4 answers Share Flag
Fri Apr 19, 2013
Curly Sue answered:
Fri Dec 28, 2012
Rodney Mason answered:
Hi Fay,
The minimum down payment will be determined by the loan program, the type of occupancy, and your qualifications as a borrower.

Only two 100% Financing programs are currently available. One of which is the VA loan program. VA financing is only available for eligible veterans. The second 100% option is USDA financing. USDA loans do have geographic restrictions to rural areas though.

For FHA and FHA 203K mortgages, the minimum down payment is 3.5%. That down payment can be from the borrower’s own funds or a gift from a family member.

Conventional mortgages typically require at least 5% down for a primary residence. Any conventional mortgage with less than a 20% down payment will require monthly mortgage insurance. Second homes will require at least 10% down while investment properties will require at least a 20% down payment.

Fannie Mae offers special HomePath Financing for eligible HomePath properties. It is only 3% down for primary residence and 10% down for Second Homes and Investment properties. For someone owning 5-10 financed properties, a 25% down payment will be required for Second Homes and Investment properties. Those owning 11-20 financed properties would need a 30% down payment to purchase any additional Investment properties.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
0 votes 2 answers Share Flag
Tue Nov 13, 2012
Terri Schaub answered:
1 vote 2 answers Share Flag
Wed May 23, 2012
Jim Simms answered:
Lenders do not discriminate because you are self-employed. Unfortunately, the same government that audits lenders is the same one that audits you. Have your realtor introduce you to the local loan officer they trust the most and set up a meeting to review your tax returns. They are required to tell you what the problem is if there is one. If you need mortgage insurance the MI companies are very strict about the back income ratio. It is carved in stone. Your LO can explain.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
... more
0 votes 10 answers Share Flag
Mon Apr 16, 2012
Pat answered:
if your score is 720-750 what kind of interest rate should I expect to get?
0 votes 2 answers Share Flag
Mon Aug 1, 2011
Dan asked:
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