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Quincy : Real Estate Advice

  • All16
  • Local Info0
  • Home Buying7
  • Home Selling1
  • Market Conditions2

Activity 13
Thu Apr 13, 2017
Naturalenquirer asked:
Looking at county records for a foreclosure and see that there is a "mortgage" that is not listed as a party in the foreclosure. It appears that mortgage is a revolving credit line secure…
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Tue Aug 30, 2016
Jenniferhall0485 asked:
I was told to fill out a form for pre registering for a rental place...Im not sure if that's the exact wording but I'm looking for a place to rent, it's a $35 fee for filling…
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Thu Oct 1, 2015
Dan Tabit answered:
Katrina,
If it's a RealtyTrac listing, it probably isn't for sale. Check with a local agent, but most of what RealtyTrac posts here isn't for sale and when or if it does come on the market, it's not priced the same. ... more
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Mon Jan 19, 2015
Anna M Brocco answered:
Since there are other factors besides credit involved in determining mortgage qualification, for a personalized answer visit with any licensed loan officer, all else would really be just speculation; be aware that a mortgage pre approval letter is necessary to determine your price range and for any offers to be taken seriously. ... more
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Fri Feb 21, 2014
Robn1955 asked:
This question was asked from http://www.trulia.com/property/3144173576-392-Holt-Ln-Quincy-FL-32351
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Fri Dec 13, 2013
Earl W. Mills answered:
A very few sellers will finance the sale. It is simply a contract with the seller to take back a mortgage at a certain interest rate for a certain number of years with a specified down payment. All the same rules apply. If payments are not made on time or not at all the seller will forclose and you will lose all that you have paid. It generally is a higher rate of interest but there is less in closing costs.
Please contact me with the specifics of the home that you would like to have along with the payments you can make and the amount of downpayment that fits your budget and I will search to see if anything is available.
Thanks,
Earl W. Mills
Frog Realty
850-443-7769
... more
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Fri Dec 13, 2013
answered:
Do you mean you have no job or do you mean you don't have money for a down payment?

If you have no job, then you cannot qualify for a mortgage. Lenders look at 3 things primarily when evaluating an applicant: Credit, Income, and Down Payment.

If you don't have any savings, then there are a couple things you can do.

1. Wait until you can save some money
2. Get a gift from a family member
3. Seek out a 0% down program

Saving money is important if you want to be a home owner. Being able to afford the payment is only one aspect of owning a home. In addition to saving up for a down payment, you also need to be prepared for the unexpected. When your furnace goes out or you need a new roof there is no landlord to take care of it for you. If something like this would cripple you then maybe it's better to rent.

FHA loans permit you to get a gift from a relative for any funds needed to purchase a home - down payment, closing costs, taxes, etc. This is a good program for people who are well qualified but maybe challenged in the funds department.

There are a small handful of 0% down loans available, but usually the require special qualifications and not every one can get them. VA, for example, is a loan program for Veterans only. To get a USDA loan, you need to be purchasing a home in a qualified area AND your household income cannot exceed certain limits.

Feel free to give me a call and I can walk you through your options.

Tony

Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 | Fax (248) 945-4842 | Direct (248) 728-0078
tony.grech@pmac.com
... more
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Sun Jul 28, 2013
Earl W. Mills answered:
Searching online is a great start for a home buyer. However, once you have decided on an area it more effective to select a Realtor that know the area and has up to date information on the status of homes for sale. Given your criteria that Realtor will be able to provide for your review only homes that are available for sale.
Earl Mills, Frog Realty
850-443-7769
Email: earlmills5@gmail.com
... more
0 votes 7 answers Share Flag
Sun Jul 28, 2013
Earl W. Mills answered:
Some fees are negotiable, however it will depend on what this 3.5% covers as there are many other items paid by the buyer at closing. I suggest that you contact at least two other lenders that are local to the area in which you are planning to build . They will give you a Good Faith Estimate showing all the costs in involved on your particular loan amount.
Earl Mills, Frog Realty
850-443-7769 email earlmills5@gmail.com
... more
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Sat Oct 6, 2012
Debra (Debbie) Rose answered:
Please be very careful before entering any rent to own transaction. Make very sure you understand the pitfalls and liabilities.

If you are looking for this kind of arrangement because you don't qualify for a mortgage now, make VERY certain you will qualify when the time comes, otherwise you will lose any deposit you put up.
Most rent to own sales involve non-refundable upfront (also known as "option") money. If you dont buy the home, you will forfeit that money.
... more
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Fri Sep 5, 2008
Barry Lynn Miller J.R. answered:
Lease to own is not a very hard thing to do and as far as qualify totally depends on who the owner is ultimately they will have the finally call on whether they will agree to a lease option contract. If you decide not to use a Realtor I would strongly suggest you consult an attorney to insure your interest are considered ... more
0 votes 1 answer Share Flag
Fri Sep 5, 2008
Barry Lynn Miller J.R. answered:
Lease to own is not a very hard thing to do and as far as qualify totally depends on who the owner is ultimately they will have the finally call on whether they will agree to a lease option contract. If you decide not to use a Realtor I would strongly suggest you consult an attorney to insure your interest are considered ... more
1 vote 1 answer Share Flag
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