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Financing in Puyallup : Real Estate Advice

  • All88
  • Local Info10
  • Home Buying24
  • Home Selling6
  • Market Conditions3

Activity 4
Wed May 30, 2012
If your loan is CONV and you had it prior to May 09, you may have been eligible for HARP2 before being 30 days late on your last two payments. Now you'll need to wait 12 months from the most recent late for most lenders. ... more
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Fri Jun 25, 2010
Dan Tabit answered:
As Jurius says, you have several good answers, but let’s ask a couple more questions to help you out. Is this a presale in a large development, or a single site built home? Is this a large builder or an independent? Has construction begun, how far along?
Part of the issue will depend on when the home is finished. If you are in the final phases of construction and can lock a rate for 30-45 days and be complete, shop for your loan with various sources as best you can. If you are further out, you'll need a pre-approval with a lender to secure your site, but then you'll want to find out if the builder has a below market loan offering you can take advantage of. Some lenders participate with banks and have below market rates and long term locks I, as a lender can't compete with. If this is the case, I generally advise my buyers to go with builder’s financing. Other times I do the loan for very competitive terms. It really depends on all the options you have available.
I hope this helps.
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Wed Feb 25, 2009 answered:
Shop around as much as possible, but the likely answer is no. Banks are being very careful with their lending right now, and will need to see long-term proof of your business income.
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Tue Feb 24, 2009 answered:
No - any alternate financing source will be a higher rate, unless it's your grandparents. Stick to bank financing. If you can't qualify, look to seller-carried financing, which could be similar rates, or slightly higher.

Sam DeBord
Seattle Real Estate
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Financing in Puyallup Zip Codes