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Financing in Peachtree City : Real Estate Advice

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  • Local Info3
  • Home Buying19
  • Home Selling7
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Activity 5
William Pola…, Real Estate Pro in Suwanee, GA
Tue Aug 6, 2013
William Polack answered:
PTC? phenylthiocarbamide? Just kidding. I know it's Peachtree City.

Rodney is right about the employment and credit requirements. Having a score is not the only focus of financing. If you worked for a US company and filed US returns, you should be okay. For FHA, you'll need to have at least 3 lines of credit that have been active within the last 12 months.

FHA (Federal Housing Authority) also allows you to participate in programs like Georgia Dream Foundation. Just be aware that it is income based and if you make too much, you won't qualify. Same goes for USDA. FHA is capped (per county) on how much they will lend and the mortgage insurance premium is redunkulous (not misspelled).

With good credit, a private lender will buy a house for you and give you the time to correct your financial situation so that you can buy it later. Rate is usually higher (starts around 8.5% interest only), fees are higher than normal. This is a person lending you money, not a bank. With 5-10% down, you can qualify for financing for yourself. Foreign Nationals require 40% down.
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Gene Hacker,  in Lake Isabella, CA
Mon Jan 3, 2011
Gene Hacker answered:
30yr fixed are very close to 5%

For full info visit:
http://www.bankrate.com/
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Tina Carroll, Real Estate Pro in Peachtree City, GA
Wed Oct 13, 2010
Tina Carroll answered:
Get the 12K and deposit in your account and use as part of down payment. The 12K could be treated as a one time bonus perhaps.
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Lew Corcoran, Real Estate Pro in Easton, MA
Sat May 1, 2010
Lew Corcoran answered:
Your mortgage will be based on the lower of the appraised value or purchase price. If you put less than 20% down on a purchase, you will have to pay monthly mortgage insurance premiums. After at least 1 year (some lenders require 2 years or more) of paying PMI and so long as you had no late payments on your mortgage, if you can show your lender that you have at least 20% equity in the home, you can apply to have PMI removed.

You will need to contact the lender to find out what their requirements are before going through the process. You will also want to ask before you apply for a mortgage how long they will require you to maintain PMI before youcamn pply to have it removed.
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Dallas Texas, Real Estate Pro in Dallas, TN
Sun Sep 13, 2009
Dallas Texas answered:
If you are wanting receive tax credit you need get going you have be closed title transferred to you by 11.31.09 of this year. It takes approx. 30 to 45 days close.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Financing in Peachtree City Zip Codes

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