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Ottawa : Real Estate Advice

  • All25
  • Local Info3
  • Home Buying11
  • Home Selling0
  • Market Conditions0

Activity 24
Fri Aug 12, 2016
Kendratara answered:
The USDA Rural Housing Service offers the following programs to assist rural areas:

Single Family Housing Direct Home Loans
Single Family Housing Guaranteed Loan Program
Housing Preservation & Revitalization Demonstration Loans & Grants
Community Facilities Technical Assistance and Training Grant
Multi-Family Housing Loan Guarantees
Rural Community Development Initiative Grants

The most popular are these are the Single family guaranteed and direct programs, which finance residential SFR properties in eligible rural areas.
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Sat Jan 30, 2016
Nabih Kanaan answered:
Its always best to speak with a lender as soon as possible. In doing that you will identify and address any hurdles up may have front related to credit or assets. In addition you should be given a clear picture of funds required to close and expected payments. It seems as you may qualify for a USDA loan. You do have a number of options that do not require 20% down. Feel free to contact me to discuss. ... more
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Thu Jan 28, 2016
Mason Taylor asked:
I am looking to buy a home this year in the LaSalle county area. Last year in went through a bunch of hoops to try to get a usda loan just to be turned down 2 days before the loan was suppose…
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Wed Jun 10, 2015
Franceakite answered:
Do some research about agents in your area that specialize in listing bank owned properties by looking thru local real estate magazines and newspapers. Agents usually advertise these properties as "investor specials, bank owned, corporate owned or REO's". Introduce yourself in person to those agents and give them your contact information, card etc. It is hard to find good help these days and putting a face with name makes you look more professional and eager to work.

Good luck.

Web Reference:
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Tue May 19, 2015
Mason Taylor answered:
The reason for the usda pulling out was because the well was too close to the septic. But still within building code. Okay whatever I've got the money saved up to do %5 down. They come back with nope can't do that either now. Because, I haven't been at my current job for 2 years and they can't count all of my contractual overtime pay which is constant (weekends are overtime) and that my credit history isn't long enough. Not that I have bad credit it's just not long enough for their liking. No one is entirely to blame. But I feel like this should have all been discovered with the amounts of information I provided before I spent all this money to do all this stuff they require ... more
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Tue May 19, 2015
Karen Peyton answered:
A suggestion from my understanding...

While two years is the rule, it is typically not with your current employer but work history in the same field. For example, if you worked for ABC as a producer for 2 years and then went to CBS and worked as a producer 1.5 years - your "total" employment history should be satisfactory.

If this is the case with you, remind your loan officer you didn't change "fields" but simply took a better paying job. Ask him or her if writing a letter of explanation to the underwriting would be helpful and provide greater clarity in the matter.

Best of luck!
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Fri Jan 30, 2015
Aaron and Cheree Tiry answered:
Have you checked out the "rent" section at the top of Trulia? There may be something in there. Otherwise you could also check to see what they have for posted for rentals. ... more
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Wed Sep 10, 2014
Patty Harrison answered:
Hi Cory:

We may be able to help you. We offer financing for scores as low as 560. Please call or email me with more information.

I look forward to helping you!

Best regards,

Patty Harrison
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Mon Jul 14, 2014
Wk.blanchard asked:
We had been looking for property in communities along the Illinois river, but have since learned about the fracking boom and need for the area's sand. So there is also a boom in sand…
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Thu Apr 24, 2014
Laura Karambelas answered:
Hi Karen -

Below is an information page for Ottawa IL. It references LaSalle County flood maps as well as pages from FEMA. You can search property locations and maps through various websites or you can visit the county for more information.
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Fri Jan 31, 2014
Matt Shekarloo answered:
Please contact me with your parameters, and I quickly will refer your request to our office in Ottawa.
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Thu Dec 19, 2013
Phil Makarewicz answered:
Assessed values have been decreasing in the last 3-4 years due to the market decline. Overall market has dramatically improved in the last year and values jumped up by around 12%. Many homes are over assessed and some are under assessed. You can file a complaint with the tax treasury and appeal your tax assessment, if you have a legitimate case you have good chance of getting your tax bill down. ... more
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Tue Nov 26, 2013
jenniferleonard7 answered:
I have a 5 bd, 3 ba with 2 car garage, fenced yard, finished basement with bar and newly remodeled kitchen for 1200 month. south side, quiet neighborhood, Lincoln school. 815-343-2406. 1st, dep and 12 month lease. ... more
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Tue May 28, 2013
twinstarsdowney answered:
Sat May 11, 2013
Phil Makarewicz answered:
You are using a website that does not carry reliable information. I would recommend contacting a local real estate broker and request direct MLS feed. Hope that helps.
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Tue Jul 31, 2012
Nazma_wardak asked:
how much is fire and flood insurance in canada,ottawa and which insurer is great to contact?
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Tue Jun 26, 2012
Alice Green answered:
He needs to call the lender, identify which type of loan it is and talk to them about a short sale process. This is better than foreclosure, it does affect your credit, but in the long run offers you the option to buy down the road sooner than foreclosure. I do not live in Michigan, but most banks have similar requirements. Good luck. ... more
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Tue Jun 26, 2012
Alice Green answered:
We have a lot of distressed properties in our area. I would be glad to send you some searches with properties in our area. Let me know more criteria via an email or phone call and we can start there. My email is or go to my website, or phone me at 815-488-9712. ... more
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Wed Aug 31, 2011
Anthony Cavalea IV answered:
Did the lender actually pull his credit? Does his credit report actually show unpaid student loans? If you don't know, then have him pull his credit and find out. If he's had a job for 4 years and caught up on the payments or made an arrangement with the lender, it shouldn't affect the credit anymore. If he's still behind in some way, then he needs to get caught up right away.

Your monthly payments on a rent to own are probably not triple, but are likely to be close to double what you'd pay if you purchased the house. Also beware that if you don't become eligible for financing by the time the rent-to-own option expires, you've lost all the extra money you've paid for that option.
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