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Financing in Portage Park : Real Estate Advice

  • All48
  • Local Info9
  • Home Buying4
  • Home Selling0
  • Market Conditions2

Activity 4
Sat Sep 14, 2013
Matt Hoyt answered:
Yes you can! Try my preferred lender, Tschwartz@baytreebank.com
Any number of lenders should have a loan package for this.
0 votes 12 answers Share Flag
Mon May 20, 2013
Bill J Deligiannis answered:
It forces the borrower to have the funds available in a shorter time frame.
0 votes 5 answers Share Flag
Tue Mar 26, 2013
Sandro Gonzalez, ABR answered:
No, unfortunately first time mortgage loans of this type are not made… In the past, 6 years ago, lenders were tricked by unethical mortgage brokers who found a way to give buyers money back at closing. This caused mortgages to be taken on for amounts the home was not worth.

However, there does exist a 203K Loan product which gives the buyer money to repair the home after the lender approves of the repairs..
... more
0 votes 9 answers Share Flag
Thu Feb 28, 2013
Riccardo Wardlow answered:
FHA guidelines are you cannot do any loans if you have been through a short sale within the last 3 years. Conventional guideline is 4 years.
0 votes 9 answers Share Flag
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