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Financing in Saint Louis County : Real Estate Advice

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  • Local Info3
  • Home Buying32
  • Home Selling1
  • Market Conditions1

Activity 40
Atxaviermar…, Real Estate Pro in New York, NY
Mon Nov 28, 2016
Atxaviermartin answered:
I think there will be definitely some professional lenders in your area. Consult with one of them. they will surely help you in this regard.
0 votes 11 answers Share Flag
CY2STL, Home Buyer in Saint Louis, MO
Sun Aug 21, 2016
CY2STL asked:
My agent wrote into the contract that the seller would pay up to 4% of the value of the home in closing costs. However, we are putting 5% down on a conventional mortgage which only allows…
0 votes 0 Answers Share Flag
Willohwisp, Home Buyer in Texarkana, TX
Wed Apr 13, 2016
Willohwisp asked:
Our lender indicated to us that they would handle a 50/50 residential/commercial building as a standard loan with 20% down. After appraisal they say the condition of the building disallows…
0 votes 0 Answers Share Flag
Five Stars, Real Estate Pro in Jacksonville, FL
Tue Mar 8, 2016
Five Stars answered:
Shouldn't be an issue - we offering the following options:
1 loan up to $850,000 - 95% financing, no monthly PMI.
Combo 1st and 2nd mortgage up to $1,000,000 - 95% financing. No PMI
90% financing up to 1.5 mil
680 credit score needed.

These programs are full documentation (assets and income) We offer other solutions for reduced documentation, investor and vacation homes has well, please contact us below to discuss the details.


Five Stars Mortgage
National Jumbo Loan Resource
7 days week - 9am-8pm
Ph: 800-871-2636
http://www.FiveStarsMortgage.com
... more
0 votes 3 answers Share Flag
 Jvicson, Real Estate Pro in Scottsdale, AZ
Fri Sep 11, 2015
Jvicson answered:
Shannon, I think it's something that is more commonly seen since many are looking for more affordable housing. There are actually more than you'd think in a higher price point, too, but you need to look a bit more to find them sometimes. If you need some help with this please feel free to reach out and shoot me a message. ... more
0 votes 1 answer Share Flag
Excel_anders…, Home Buyer in New York, NY
Wed Aug 19, 2015
Excel_anderson17 answered:
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Loan Offer
... more
0 votes 15 answers Share Flag
Derek Zasare…, Real Estate Pro in saint louis, MO
Fri Jul 3, 2015
Derek Zasaretti answered:
Your contract would actually depend on when the tax sale is going to happen. The current owner can quit claim it to you and then you would be responsible for the back taxes. (the price of the building) You may want a title company to do a title check to see if that is the only lien. Sewer bill, mechanic lien, mortgage etc. ... more
0 votes 2 answers Share Flag
Ron Krauch, Real Estate Pro in Crestwood, IL
Tue Mar 24, 2015
Ron Krauch answered:
Although I rarely endorse online lenders, I did have a transaction of less than $50,000 with Quicken last December. They did make the buyer jump through flaming hoops all the way to closing, but close it did!

The person they worked with was a man named Cort Johns, here is his contact information:

Cort Johns | Quicken Loans Home Purchase Specialist
Direct: (313) 338-2230 | Toll Free: (800) 226-6308 x82230
Cell: (248) 835-3508 | Fax: (877) 470-2174 | NMLS# 1127340

Good Luck!

Ron Krauch
Managing Broker
Emerald Estates Realty, Inc.
Palos Heights, IL 60463
... more
0 votes 1 answer Share Flag
Joel Holtman, Real Estate Pro in St Louis, MO
Fri Jan 23, 2015
Joel Holtman answered:
Hello, as soon as possible is the best time to get started. I would love to help you out with your Real Estate search. You can contact me at 314-413-2972. However for your mortgage pre-qualification, Please call Brad Bleich at Superior Mortgage, 618-978-1595. ... more
0 votes 8 answers Share Flag
Debbie Dutton, Real Estate Pro in chesterfield, MO
Thu Nov 27, 2014
Debbie Dutton answered:
Not sure if you're still needing the physicians loan but someone else may need one. Give Dean Pilcher, VP at First Bank. They have professionals loan -- Drs and Attys. Dean's telephone # is 314-616-2888. Plus they have great rates! ... more
0 votes 14 answers Share Flag
Jim Olive, Real Estate Pro in Key West, FL
Wed May 21, 2014
Jim Olive answered:
Look for private money lenders and expect to pay a little more in interest. Big lenders are a lot harder to find at that low dollar amount. Best of luck...
0 votes 1 answer Share Flag
Ted Rood, Real Estate Pro in Maryland Heights, MO
Sun Mar 23, 2014
Ted Rood answered:
I just did one of those, we had to document the improvements, and went Fannie Direct to avoid lender overlays. I'm in St Louis, but write loans nationally. Questions? Give me a call or shoot me an email! Thanks, Ted ... more
0 votes 7 answers Share Flag
Ted Rood, Real Estate Pro in Maryland Heights, MO
Wed Jan 29, 2014
Ted Rood answered:
We do those as well, I'm in St Louis, glad to help if you'd like to look at another option.
0 votes 3 answers Share Flag
MelvinC, Home Buyer in Miami, FL
Wed Dec 11, 2013
MelvinC answered:
I think it all depends on the lender. I saw online there is no credit score minimum for Vets but then all the lenders I talk to say you need to have a 620 or 640. I would say you need to talk to a lender or a broker that works with multiple lenders to get a straight answer. ... more
0 votes 4 answers Share Flag
Dan M. Kimm, Real Estate Pro in St Louis, MO
Thu Nov 21, 2013
Dan M. Kimm answered:
I worked with 1 closing for 6 months sending and resending the same docs to the NACA processors, it was a mess.
0 votes 3 answers Share Flag
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Wed Nov 20, 2013
Debra (Debbie) Rose answered:
Actually, that's not necessarily so.

My buyer did lose his job 2 weeks before the closing..........the mortgage company went to verify employment, and since he had been let go, he lost his mortgage commitment - he couldn't buy the home.

Since the purchase was subject to a mortgage, and through no fault of his own, he lost his job.......the deal was cancelled..... and he got his deposit back.
... more
0 votes 2 answers Share Flag
Dale Weir, Real Estate Pro in Chesterfield, MO
Wed Nov 20, 2013
Dale Weir answered:
I'm not quite sure what your question is. If tou have a legally binding contract, there are provisions in it go protect both tjhe buyer and the seller, including provisions for both sides to be sble to take legal action against the other if the other side suddenly doesnt perform and fulfill thrir obligations under the terms of the contract. That said, loan commitment is typically a couple weeks before closing and thats the pount the buyer has to have their loan in place . If it can be shown that the buyer is purposely not applying to get the loan or giving the mortgage lender the required documents, the seller can take legal action, but a job loss is a jib loss ... more
0 votes 1 answer Share Flag
Frank Ruzicka,  in Saint Louis County, MO
Sun Oct 13, 2013
Frank Ruzicka answered:
It all depends on your note. You may received an interest credit at time of closing then you may have a payment due the immediate 1st of the month. Typically the first 5-7 days of the month could go either way so you need to check your note. ... more
0 votes 3 answers Share Flag
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