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Home Buying in Saint Louis : Real Estate Advice

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  • Local Info50
  • Home Buying183
  • Home Selling39
  • Market Conditions20

Activity 240
Mon Sep 18, 2017
answered:
From the perspective of a mortgage professional, my opinion is that the seller has no right to renegotiate the contract. The daughter perhaps DID sign onto the note agreement on a refinance, but if the current deed/security instrument does not show her on title, than she is, quite simply, NOT AN OWNER. It is possible to obligate yourself to pay a loan back (on the note) while NOT being an owner (on the deed/security instrument). If the daughter feels she put herself in a bad position, she is right! However, it was her failure to take ownership legally that prevents her from having any standing over this matter. I believe you are in a strong legal position, but I am not an attorney so I recommend you contact one to get this sorted out. ... more
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Wed Jul 12, 2017
Pam answered:
I am going thru the same issue and I am having issues getting approved for a $146,000 mortgage even with a 800 FICA score, $4000 a month income, low debt of $483 a month, 29 yr mortgage with no late payments, and excellent income for the past 18 mos. My 2015 was low due to the fact I didn't have to work to meet my debt obligations and now I am paying the price. ... more
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Thu Jun 1, 2017
answered:
Hi Dreux_perkins,

The short answer is yes, you are able to get another VA home loan.

The long answer is it depends on whether or not you have enough entitlement left.
For example: If your previous VA home loan was for $150,000 you have used $37,500 of your entitlement. Your remaining entitlement will be based on the VA county loan limit which in most counties is $424,100. Using the example above here is how we figure out how much entitlement you have left.

Starting with the VA county loan limit of $424,100 and multiply that by 25% to get your total entitlement = $106,025.00. Now subtract the entitlement that was used on the first home to figure out how much you have left. $106,025 - $37,500 = $68,525. Now take the available entitlement by to get your maximum loan amount without putting money down.
So it would look like this: $68,525 * 4 = $274,100.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
... more
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Thu May 4, 2017
Adam Hull answered:
A good real estate attorney could help you draw up the documents to protect yourself in that instance. I've worked with an attorney I'd be glad to recommend to you; let me know if you're interested

Adam Hull
Wintrust Mortgage
314-447-7128
ahull@wintrustmortgage.com
... more
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Thu May 4, 2017
Adam Hull answered:
I know an agent who would be able to send you more complete STL condo listings than the ones you see on Trulia/Zillow. If you'd like their information, let me know

Adam Hull
314-447-7128
ahull@wintrustmortgage.com
... more
0 votes 1 answer Share Flag
Thu May 4, 2017
Adam Hull answered:
Hey Ramo,
I'm a lender in St Louis and would be glad to look over your information and see if we could help. There are a number of different options in a situation like the one you're describing.

Adam Hull
314-447-7128
ahull@wintrustmortgage.com
... more
0 votes 1 answer Share Flag
Thu May 4, 2017
Adam Hull answered:
Hey Kesh,
Each lender will have different standards and regulations. It sounds like your current one may be rather strict. I'd need to know more but I'd love to see if we could remove that condition.

Let me know if I can help.

Adam Hull
Wintrust Mortgage
314-447-7128
... more
0 votes 1 answer Share Flag
Thu May 4, 2017
Adam Hull answered:
Hi Robert,
The short answer is "it depends". You can offer to buy a house contingent on your house selling. Then you can take the money you got from your home sale and use that as a down payment. In the current STL market, you will likely have no problem selling your house quickly and getting a healthy profit perfect for your next down payment.

Let me know if I can help further,
Adam Hull
Text or call me at 314-447-7128
ahull@wintrustmortgage.com
... more
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Sat Apr 29, 2017
Kesh5986 asked:
I have been asked to pay off a couple of collections at or prior to closing. Can I use a credit card to pay off these collections?
0 votes 0 Answers Share Flag
Sun Feb 5, 2017
Bohntimbohn answered:
You can Call me Tim Bohn Loan Officer for st. Louis Metro at First Bank 618-514-0874
0 votes 25 answers Share Flag
Wed Jan 25, 2017
Qloubertha asked:
Fri Oct 28, 2016
Lrenee5462 asked:
I currently live in an apartment but would love to move into a home. I pay $770 a month and each year the amount rises, of course. Other expenses averages an additional $300. No credit…
0 votes 0 Answers Share Flag
Fri Oct 21, 2016
John Watson asked:
Some neighborhoods have less number of incidents yet are red. While some have a higher number of incidents and remain green.
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Sun Sep 25, 2016
Ewendj asked:
Your search doesn't understand how to find "Saint Louis County Missouri" and it won't accept multiple zip codes?
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