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Home Buying in Saint Petersburg : Real Estate Advice

  • All599
  • Local Info48
  • Home Buying203
  • Home Selling17
  • Market Conditions31

Activity 284
Fri Jul 28, 2017
Kathy Burgreen answered:
Some lenders will accept credit scores as low as 580 BUT you will be required to pay higher interest rates and higher fees. Lenders consider it a "punishment" for having bad credit scores. They reward buyers with better scores by charging low interest rates and low fees.

Your credit is only 1 part of getting approved for a loan. Lenders will verify employment, income, savings, credit, outstanding debts, debt to income ratio and tax returns. Also you need cash for a down payment + cash to pay for closing costs.
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Wed Jun 7, 2017
Skycoolestdad answered:
Good and Fair Question. I am sure there are other relevant questions relating to your inquiry. Your best bet is to work with a real estate agent who can lead you to the right decision and the buying process. I am part of a real estate company that can set you up with a Top Agent in this area where you are looking. There is no cost to you for our service. Go to y website for more details. Thank You. ... more
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Thu May 4, 2017
Kshore0824 asked:
Sat Apr 15, 2017
Scott Godzyk answered:
If you are buying a short sale, then yes the sellers bank will want a bpo and the sale will have to go through the approval process. The bank does not set the price, the seller does, the bank wants to make sure it is at or near market value less repairs. ... more
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Thu Mar 30, 2017
Myangels369 answered:
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Mon Mar 20, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

Yes, depending on your new job income that should help what you can qualify for.

I can help you with a pre approval.

If you have any other questions or would like help with this you are welcome to get in touch with me. ... more
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Tue Mar 7, 2017
Sandy Hartmann answered:
Hi there,

This is a tricky question. Right now, interest rates are historically very low, even with recent increases. Prices may be higher than they were 2 years ago, but with interest rates expected to increase in 2017, you might find yourself paying just as much on a monthly mortgage payment if prices go down, as you would now, in the event interest rates take a jump.
So though prices could sink and get cheaper, interest rates could rise, making it just as costly to buy now. Does that make sense?
The best thing to do is speak with a licensed mortgage professional (unless you are a cash buyer of course) to find out what you're approved for and how much your payment could change with interest rates going up and prices going down. In some scenarios, it could be a wash, meaning you could buy now or later- then the only problem would be locating the right property- which is why your 2nd call should be to a reputable agent :)
Hope that helps!
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Tue Jan 17, 2017
Portgulf4 asked:
Sat Nov 19, 2016
Thomas Martin answered:
We can help! We provide FHA/VA loans all the way down to a 580 fico. As a licensed real estate broker and mortgage broker over 10 years i can answer any questions you have throughout the process. ... more
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Wed Aug 17, 2016
Karen Peyton answered:
First off, a lease option is not a "buy" - it's money paid now to buy in the future. You may be able to buy (actually purchase) with Seller financing, but it will depend upon the way the contract is written.

So here's the question? Knowing you don't claim enough taxable income to qualify for a mortgage, are you willing to do so for the next two years (or more) as required by a lender??? This is the Achilles heel for independent contractors everywhere who have "legitimate" tax deductible expenses which then obliterates income.

Decide now - otherwise you may be where you are today - two years from now.

To find homes you need an agent in the area. To find one, use the "Find an Agent" tab at the top of the page and search by city and/or zip code. Write down the names and phone numbers of at least three and call them. Yes call. Calling is the best way to receive an immediate response.

Good luck to you! As agents we all know how tough it can be to "qualify" when self employed.

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Thu Aug 11, 2016
Chestnut68st asked:
Tue Jul 19, 2016
Angelica P answered:

We display property information on Trulia to provide consumers with transparent real estate information. We receive this information from public records gathered by a third-party data collector from your county. Our mission is to empower consumers with information and tools to make smart decisions about homes, real estate and mortgages. For this reason, we do not remove public record property information from Trulia.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

Thank you for using Trulia!

Consumer Care Advocate
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Fri Jun 17, 2016
K9lvr2 asked:
The plumbing was old and the the kitchen and bathroom wiring was new but the junction box for building is the original from 1956. Didn't run ground wire but added 3 prong outlets. They…
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Fri Jun 17, 2016
Lola H Walker answered:
Getting a loan depends on your debt to income, FICO scores, income stream and assets.
If you can demonstrate through the above, then you can qualify for a loan.
Your best strategy is to visit a loan mortgage broker who is local, gather the information for
them and they can tell you exactly what you qualify for.
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Sat May 21, 2016
John Tondreault asked:
Will be a short term loan and property will be primary residence. Please contact me - 407.967.5352 John
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Tue Apr 5, 2016
Jonathan Lahey Your Home SOLD Guaranteed answered:
Hi Alexlapinta87,

If you would like to see some homes in a particular area or areas based on a specific set of criteria, I would be happy to get a list together for you to review. Let me know if I can be of assistance!

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Thu Feb 11, 2016
Ann Ryan answered:
You need to talk to a mortgage profesional to see when you will qualify again.
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Fri Feb 5, 2016
Diane Christner answered:
If you want specifics on interest rates based on your credit scores (they look at all 3, not just 1) and your other financial information, talk to a local lender.

As to taxes and insurance, I have found trulia tends to underestimate. That is because the property taxes of the current homeowner are not going to be the same as what you will see as of January of the new year. A sale triggers a new assessment. Plus, if the current owner has a homestead exemption on the home and has been there for a number of years, the property taxes will have been held down because of the 3% cap on annual increases with the homestead. I've seen tax bills go up substantially after a sale because of this.

Insurance rates on older homes will be more expensive. Having an older roof on a home can also mean more expensive insurance rates. Being in a flood zone is definitely an added expense that sites such as this don't factor in.

So while trulia can give you a general idea on monthly payments, do not assume that it's going to have any kind of accuracy. For that you need to involve your mortgage broker/lender and your local real estate agent.

Good luck with your home search, I hope you find what you're looking for.
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