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Pocahontas : Real Estate Advice

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Activity 5
Fri Mar 28, 2014
Carlota Carver answered:
Your first step is of course to determine the type of loan you qualify for or works best for you (be it Rural Development, FHA or VA). I can put you in touch with a very experienced and communicative lender. Next, you should determine what your comfortable budget range is that will allow you to not only make your payments but to be able to save for those unexpected personal emergencies or routine home repairs. This is not necessarily the same amount that you qualify to borrow.
With this loan prequalification and your budget in mind, it is now the time to actually begin looking for your property. The type of loan will determine what is required of the home itself. Rural Development and VA loans have strict guidelines as to the condition of the property so in this case, you will not be looking for a "fixer-upper". I can provide you with a list of condition requriements and provide guidance as to what would disqualify a property for your type of loan and see if we can negotiate with the seller to make any necessary repairs. FHA has some programs which allow for repairs and you will need to follow their specific repair bids and cost limit procedures.
I will be happy to help you navigate this sometimes complex home purchasing process. Call or text me at 870.378.0045
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Mon Nov 25, 2013
Tracy Marchese answered:
By speaking with your Realtor and your lender.
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Thu Oct 14, 2010
Ed Simpson answered:
Check the local county court records which in most area can be found in the counties website diectory or search engine. Usually property records are public and the info can be found online. If not visit the local county court house or district and inquire with the assessor. Good Luck. ... more
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Mon Jan 11, 2010
answered:
Rudy,

Your answer is flat out wrong. The borrower would not be charged as much as you claimed for having a 629 score. I have lenders who charge .375% to the ysp for a 620 mid score which would put them at 5% par for a 30 day lock on a 30 year fixed so please stop with the scare tactics and misinformation. ... more
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Wed Jun 3, 2009
Memphis Owners answered:
We offer no-money down loans in Pocahontas. Please call me at 901-672-2413.

I don't advise rent-to-own for a variety of reasons: you'd be committing to buying at today's prices when prices may go down in the future, the seller may keep your deposit money if there's a problem of any kind, there are fewer rent-to-own opportunities so you actually have fewer homes to choose from, and lastly you'd miss out on the $8000 first-time buyer credit.

As for owner financing, the rates are usually higher, you need a down payment usually, and you don't have the benefit of the mortgage being reported on your credit report.

We do offer no-money-down loans backed by the government in Pocahontas-- no down payment, low, fixed interest rate, and no monthly mortgage insurance. Please call me at 901-672-2413.

Thanks!
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