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Home Buying in Pooler : Real Estate Advice

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  • Local Info10
  • Home Buying19
  • Home Selling1
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Activity 20
Mon Sep 19, 2016
Kendratara answered:
Your only option to finance the building of a home and get a USDA loan is to have the builder finance the land and construction and then apply for a USDA loan buying it from them. There are several builders out there who willing to do this, and not just on major housing development plots.
http://usdalenders.org
... more
2 votes 7 answers Share Flag
Tue Nov 17, 2015
Jeri Patrick answered:
I would contact a local real estate agent and sit down with them to help you connect with a lender. USDA is a great program and most agents should be very helpful with this program. Best of luck ... more
0 votes 8 answers Share Flag
Fri Jan 30, 2015
Jeri Patrick answered:
Have you contact a local real estate agent to see if they can help you with rentals? Also purchasing can be cheaper than renting in Pooler. Please let me know if I can help you please feel free to visit my website jeripatrickteam.com. ... more
0 votes 1 answer Share Flag
Mon Feb 17, 2014
Jenny Rutherford answered:
While we as professionals can't make any guarantee on the outcome, I would recommend writing the letter to clarify the situation!!! They can make exceptions and banks can write waivers for credit/income for USDA... So if they can make those exceptions, I think an explanation of the situation would be helpful. Certainly you did not intend to "cheat the IRS" and are showing good faith to correct the situation by amending your taxes. I've encountered several buyers in the same situation so don't feel alone! A knowledgable and motivated loan officer in this situation will be your best tool. It does make sense that you wouldn't have received 1099s because you weren't using a management company and most likely sounds like you own the property in your name.

I do recommend working with a CPA to find out the tax implications and make sure that they do not outweigh the benefit.... But going usda 100% financing will definitely be worth it! Excellent program for home buyers to purchase without downpayment. Good luck and I hope that this works out for you!!
... more
1 vote 2 answers Share Flag
Wed Feb 5, 2014
Ethan Atkinson answered:
If you already told the agents you are paying cash to buy the next home and they weren't trying to win your business every step of the way, then work with Jeanie who answered first on here. There is plenty of commission to help someone find a home up to $100k. If you are paying cash that makes things so much easier for everyone involved - the agents, sellers, and especially attorneys who will give you a better deal. Make sure and get one on your side too. Ask the agent for some advice on the Closing Attorney to choose when you make the offer. I would even drive down to help you out myself and stay for a week and show you houses if I new I would be getting 3% commission on even an $80k deal, because the seller pays the commission, you are paying cash and HEY-Savannah is a great town. We could find the house most likely by the second day with my expertise. ... more
0 votes 2 answers Share Flag
Sat Nov 30, 2013
Rodney Mason answered:
Hi Faith,
FHA mortgages are the least restrictive for a previous foreclosure. The standard waiting period for a new FHA mortgage after previous foreclosure is a minimum of 36 months.

In August 2013, HUD implemented a new rule concerning a previous Foreclosure, Short Sale, or Bankruptcy.

If you could use a fresh start at homeownership, Prospect Mortgage's Second Chanceâ„¢ program might be for you. If you lost your home to foreclosure, short-sold your home, or filed bankruptcy because of reduced income lasting over six months, you could qualify to buy again!

Second Chanceâ„¢ program benefits:

- Previous bankruptcy, foreclosures and short sales okay
- Only a 12-month waiting period
- Low down payment of 3.5%
- No income restrictions
- Gift funds permitted

To qualify, you must have experienced an "economic event," which is any occurrence beyond your control that resulted in a loss of employment, loss of income or a combination of both. The event must have caused a reduction in household income by 20% or greater that lasted at least six months or longer.

To be eligible, HUD requires that you must have recovered from the "economic event" with the re-establishment of satisfactory credit for a minimum of 12 months. HUD also requires that you must also attend housing counseling from an approved HUD Housing Counseling Agency. This class must be taken at least 30 days PRIOR TO your loan application date, but no more than six months before that date.

If you do not meet the above requirements, then it would be a waiting period of a minimum of 3 years from the foreclosure date. Once you are ready to purchase, 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 get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.

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 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 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 3 answers Share Flag
Mon Nov 18, 2013
Rodney Mason answered:
Only a Conventional mortgage with a least a 20% down payment or a VA mortgage would have a 24 month waiting period for a previous Deed In Lieu. Unless you are VA eligible, anyhting less than 20% down will require that you either have to wait at least 36 months for FHA or meet the requirements of the Second Chance program. ... more
0 votes 3 answers Share Flag
Mon Nov 18, 2013
Rodney Mason answered:
Hi Faith,
FHA mortgages are the least restrictive for a previous foreclosure. The standard waiting period for a new FHA mortgage after previous foreclosure is a minimum of 36 months.

In August 2013, HUD implemented a new rule concerning a previous Foreclosure, Short Sale, or Bankruptcy.

If you could use a fresh start at homeownership, Prospect Mortgage's Second Chanceâ„¢ program might be for you. If you lost your home to foreclosure, short-sold your home, or filed bankruptcy because of reduced income lasting over six months, you could qualify to buy again!

Second Chanceâ„¢ program benefits:

- Previous bankruptcy, foreclosures and short sales okay
- Only a 12-month waiting period
- Low down payment of 3.5%
- No income restrictions
- Gift funds permitted

To qualify, you must have experienced an "economic event," which is any occurrence beyond your control that resulted in a loss of employment, loss of income or a combination of both. The event must have caused a reduction in household income by 20% or greater that lasted at least six months or longer.

To be eligible, HUD requires that you must have recovered from the "economic event" with the re-establishment of satisfactory credit for a minimum of 12 months. HUD also requires that you must also attend housing counseling from an approved HUD Housing Counseling Agency. This class must be taken at least 30 days PRIOR TO your loan application date, but no more than six months before that date.

If you do not meet the above requirements, then it would be a waiting period of a minimum of 3 years from the foreclosure date. Once you are ready to purchase, 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 get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.

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 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 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
1 vote 1 answer Share Flag
Mon Nov 18, 2013
Rodney Mason answered:
Hi Faith,
FHA mortgages are the least restrictive for a previous bankruptcy. HUD requires that a minimum of 24 months must have elapsed from the DISCHARGE date of a Chapter 7 Bankruptcy before a borrower can be eligible for an FHA mortgage.

In the time since the Bankruptcy, there should be no new derogatory items such as late payments, collection accounts, liens, judgments, etc. Having late payments after a Bankruptcy is often viewed as a disregard for the importance of credit. It also reflects that you are still having financial struggles.

If a mortgage was included in the Bankruptcy, HUD requires that you must wait at least 36 months from the foreclosure date to be eligible for an FHA mortgage. Sometimes, the foreclosure happens well after the Discharge Date of the Bankruptcy. If the mortgage was not re-affirmed, there is not much that can be done until the property get foreclosed on.

Also, if the original mortgage was a government backed loan (i.e. FHA, VA, USDA), you must wait at least 36 months from the date that HUD paid the claim on the defaulted mortgage. This can sometimes be several months after the original Foreclosure Date Until the 36 months on the claim has passed, you will not have a clean CAVIRS report which is required for an FHA mortgage.

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. Once you are ready to get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.

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 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 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
... more
0 votes 1 answer Share Flag
Fri Aug 9, 2013
Christine Q. Durrence answered:
I know of some lots closer to the Rincon area that fit that description if they would be interested in being closer to that area.

Just let me know! My number is 912-657-6174. Thanks!

Christine Durrence
Keller Williams
... more
0 votes 2 answers Share Flag
Thu May 30, 2013
Johnathan Kenyon answered:
Good Evening Ronda,

Thank you for your question here on Trulia Voices. As Trisha said it is Groves High School. Here is the link to the school web page: http://internet.savannah.chatham.k12.ga.us/schools/ghs/default.aspx

It is currently under contract at this time. I would be happy to setup a custom real estate search for you.

Have a great evening and Good Luck!
... more
0 votes 2 answers Share Flag
Thu Feb 2, 2012
Jeri Patrick answered:
Fri Oct 21, 2011
Kenny asked:
Is this property still available ?
0 votes 0 Answers Share Flag
Mon Mar 7, 2011
Lori Beardslee answered:
The 2nd mortgage on the GNND indeed is forgiven if you live in the home long enough. Problem is as stated by others below....there are only 3 or 4 homes in the ENTIRE state of GA that qualify for that program, so it is done very little. I personally have been doing mortgages for 25 years and have only done 2 of them in the past few years! You will need to see if you can find the $100 down HUD home or the USDA 100% financing if the property is in the USDA qualified area. Othewrise a gift of your 3.5% down payment for an FHA loan might be something to look into from a famiy member? Call with any questions you have about any and all loan options. Lori Beardslee, Branch Manager, Silverton Mortgage Specialists (770) 527-1375 or lbeardslee@loriandlori.com ... more
1 vote 7 answers Share Flag
Tue Oct 27, 2009
answered:
There were two homes that came up in my quick search for a one story home with a three car garage in Chatham or Bryan County. The two that came up are: mls#62128 and #60389. Neither are brand new homes, but are within a few years old. There are quite a few story and a half homes though. Unfortunately, many of the new construction neighborhoods won't have lots that will support a good sized ranch and a three car garage, so you'll be looking at a more custom neighborhood. Please let me know if I can help you in any way if you're not currently working with an agent already.
thanks, Robin
RAWLS REALTY
912-655-2554
... more
0 votes 2 answers Share Flag
Sun Aug 23, 2009
answered:
My best advice is for you to talk with a good lender. I can certainly suggest one if you don't have one in mind. Anyways, there are a few different options for you in getting the financing together to purchase the short sale house. As Michael had said, the cash out refi is definitely a good option for you. Is your home currently listed for sale? The lender may or may not allow you to have it for sale if it's being refinanced...again that's why it's so important to speak with a good lender. Have you already put an offer on the short sale house? Depending on the bank who has the short sale financed and also whether the listing agent for the short sale is experienced in short sales can sometimes drag out the short sale process. I recently waited over four months for a short sale to be approved through the bank. There are many properties out there that are good prices right now including foreclosures and short sales. I would be happy to help you in any way if you're not already working with a realtor. I can be reached on my cell at 912-655-2554 or at robinsellssavannah@gmail.com ... more
2 votes 2 answers Share Flag
Thu Aug 20, 2009
Steffany Farmer answered:
Wanda,

Are you in Towne Park Pooler? When did you purchase? The orginal builder is no longer building. However, if you have a warranty issue, chances are you have a 2-10 Warranty. Feel free to contact me at Steffany@coldwellbanker.com. ... more
0 votes 2 answers Share Flag
Tue Jul 15, 2008
Maricela answered:
You will be moving into a great area... for young children Elementary and Middle schools definately consider West Chatham Elementary and Middle school... (right next to each other)! I've only been here one year and may probably be selling our house in the next couple of months :( , I love the area., very peaceful, very quiet. Both of my boys love it as well... we might be relocating out of state so definately selling my house will be sad. Good luck to you! many subdivisions are nearby the school... Mine is at Hunters Ridge Subdivision... many others nearby! ... more
0 votes 7 answers Share Flag
Sun Jul 15, 2007
Moshe Benny answered:
There are lots of communities in Pooler/GA. None as nice as Park West which is located in Effingham County. Which, if you are not familiar has a substantially better school district than neighboring Chatham County. Park West crafts beautiful homes for amazing prices. ... more
0 votes 3 answers Share Flag
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