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Sandy : Real Estate Advice

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  • Home Buying12
  • Home Selling1
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Activity 25
Sun Oct 22, 2017
Judiemaronfriend asked:
Can you please tell me how I can stop receiving results for properties for which I have absolutely no interest! I went to my saved searches and marked them accordingly and I am still getting…
0 votes 0 Answers Share Flag
Sat Apr 23, 2016
USMortgageRanger answered:
Hi James,

I am sorry to hear of your issues. As someone who is on disability income /Social security income, Your child Social security income and your social security can be added together and gross up 25% to qualify for a mortgage. As for down payment assistance all the programs that I am aware of requires a 640 credit score and home buyers class.

I would be delighted to provide you with some mortgage options, (this does not require us pulling your credit) that will allow you to make the best decision for your family. I can be contacted via my profile information for a no obligation consultation. My Office hours are 08:00 AM-08:00 PM Mon-Fri and Fri and Sat 08:00 AM-06:00 PM CST.

Lowell Sterling
Mortgage Banker
NMLS 968898
Wells Fargo Bank
Plano TX
Phone (469) 347-3572
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0 votes 1 answer Share Flag
Sat Apr 23, 2016
Jamesacamarata answered:
The other guys did a good job of answering this question. It rains far more than it snows. It is mostly cloudy from mid-fall thru late spring. When buying a home take a good look @ the roof and water drainage on and around the property. Western Oregon has many seasonal creeks, check your proximity to those. You are picking a nice area. ... more
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Sat Apr 23, 2016
Jamesacamarata asked:
I am single dad. I have found nice home for 44k. the payments would be less than 30% of my income, but I don't qualify for a loan and probably never will. Help?
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Fri Apr 15, 2016
Katie M Eberly asked:
Mon Apr 4, 2016
Sally Grenier answered:
Not sure what property you're referring to with no link or address. But...if you're an agent, can't you look it up in your MLS? You know the listings here on Trulia aren't very accurate, right?? Especially the so called "foreclosure" and "pre-foreclosure" listings?! If it's not in your MLS, it's likely not available for sale yet. ... more
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Fri May 29, 2015
Kirsten Prizzi 239-248-1667 answered:
Amanda, Unfortunately only Real Estate Agents can enter a home for sale on Trulia.
0 votes 1 answer Share Flag
Thu Nov 1, 2012
Douglas Bragg answered:
The Lease/Option in my opinion is not the same as Rent to Own.

My past experience with 'Rent to Own' is simple. Only about 5% of the time will the
renter stay long enough to complete the required down payment to obtain the home, and the rental amount is increased to accommodate a portion of the rental going toward the down payment.

Thus all the cash you pay into the rent, over and above the true rent .. will be lost, should you not stay there long enough to actually complete the time required to accumulate the 'down' payment from the additional rent proceeds.

You usually do not get that 'rent' money back.

I suggest you just find a rental and save toward a purchase. Your money will be better spent.

Best Regards,

Doug Bragg

Coldwell Banker Seal
Sandy, Oregon
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0 votes 6 answers Share Flag
Wed Oct 31, 2012
Douglas Bragg answered:
That is truly a quandry !

First off i suggest you ask lender #2 about the $8,500 closing costs. That to me seems high.

i suspect they added the down payment into the total to give you the $8,500.

That being the case both loans would probably be around the $4,500 mark or so.

Thus all things being equal ... I tend to like FHA. USDA can be troublesome depending

upon the county and the property you buy ... i.e. the home may need more repair than for FHA and may not even qualify after the appraisal is completed. Besides the Seller will have to pay some of the closing costs with FHA .. and should make your costs a bit less.

Good luck.


Douglas M. Bragg, Broker
Coldwell, Banker Seal

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0 votes 6 answers Share Flag
Wed Oct 31, 2012
Douglas Bragg answered:
Thanks for the opportunity to reply !

At present the USDA i believe is at 3.5% on a 30 yr mortgage loan.

Thus ... $145,000.00 mortgage loan @ 3.5% for 30 yrs. = $651.11 per month. P. & I.

30% of your monthly income to qualify would be approx $2,170.00 per month ...

Thus the annual income would be about $26,040 to obtain that loan. Note .. other factors

might also apply and the 30 % est. might be 28% or so.

Hope this helps. Best Regards .. Doug Bragg, Broker; Coldwell Banker Seal. 503-826-9207
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0 votes 2 answers Share Flag
Sun Sep 23, 2012
kthamblin answered:
I completely understand the money doesn't go to either of the only beef is that this other realtor is requesting the negotiator and then making us pay for it.
I had read web site after web site about how this fee is extremely unfair to be placed on the buyer.
We love the home, this transaction just feels unfair.

thanks for everybody's help though :)
... more
0 votes 7 answers Share Flag
Thu Jun 2, 2011
I am a RENOVATION LOAN EXPERT... and I say unto you...


Why? for something with a small repair, I can issue you a "Repair Escrow" loan, on ANY loan. Conventional, VA, FHA, USDA, you name it... You can get this house with the best rate and terms possible and have money to fix that roof after you settle. :)

Contact me and I will gladly tell you about it! :)

... more
0 votes 17 answers Share Flag
Wed Jun 1, 2011
Dave Sutton answered:
Homes that have been foreclosed by one of several US government programs can be purchased with little or no money down, and sometimes assistance with closing costs as well.

There are several commercial "lookalike" web sites, but the one from Housing and Urban Development is the best place to start. It's at
... more
0 votes 7 answers Share Flag
Thu Sep 23, 2010
To further clarify... The closing costs structured with seller concessions with ANY loan program will usually mean an increase to the offer and/or accepted sales price. The difference being which program allows how much and value will always have to be there. FHA will currently allow up to 6% with talk of reducing it to 3%, VA allows 4%, USDA has no "limit" and conforming maxes out at 3% to 9% depending on the down payment amount%. Although USDA might be a good choice if you have no down payment to work with it also carries the Guarantee fee in place of mortgage insurance of 3.5% which is pretty hefty and is added into the loan if not paid in full at close by the buyer, seller paids on the guarantee fee is not typical in this area to which the appraiser would have to comment. Also the income is limited so you may not qualify if you make too much, $81,850/ year combined in Clackamas County. I recommend comparing both loan types to make sure you choose the one that works best for your situation.

Best wishes!
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0 votes 11 answers Share Flag
Sat Sep 18, 2010
If the remaining lots are foreclosed on the only thing that changes is who'll be selling the lots the troubled Realtor vs the "troubled" bank.
0 votes 6 answers Share Flag
Thu Dec 3, 2009
Freddie Mac is the one that had a $2500 maximum amount of closing costs that could be rolled into the loan. That amounts has since been increased to $5000. What that means is that if the closing costs exceed $5000, you have to pay the remainder out of pocket. Fannie Mae doesn't have a limit. If your closing costs are $10,000 and there is room in the appraisal to cover the costs, so be it. The HARP program allows a person that is over 80% of the loan to value (LTV) to refinance without having to incur mortgage insurance (MI) if they didn't have it before. If the person had MI before and refinance to a higher LTV, then they have to get MI again and if the LTV is higher, they will pay the higher MI rate. Kind of confusing..sorry. Example: I bought a house for 100,000 and the value at that time was 130,000. I had an 80% LTV. Now I refinance. I owe 98,000 and the value dropped to $100,000. I'm at 98% LTV. I didn't have MI before, and I don't have to have it now (that's HARP). Now let's say that in the beginning I had MI and I had 10% equity when I bought the house. My MI rate would have been at .50% (.0050 X loan amount). Now I refinance and I have no equity. The MI rate will increase to 1.03% (.0103X loan amount). My MI payment has almost doubled (yikes). If you go over 100%, the lenders will charge on average 1.5% in discount points in addition to closing costs. Up to 125% is 3 discount points. ... more
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Sun Jul 26, 2009
Kelly Gebler answered:
Hi Ann - Without knowing the whole situation with the property, it's hard to answer that question....there are different reasons why an agent's name might not be on the home. If you want to send me the address - I'd be happy to provide you with the listing agent's name and phone number. I would also be happy to answer any questions you might have and/or show you the home if it's available. Just let me know how I can help.

Kelly Gebler
Real Estate Broker & Loan Officer
Keller Williams Realty & Sunset Mortgage Co.
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Sun Jun 14, 2009
Liz Warren answered:

I recommend you contact an attorney. An attorney can advise you how to protect your legal rights and your investment to help your father at this time.
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Sat Feb 7, 2009
Dirk Knudsen and Kirra Krussman answered:

Your probably in trouble here. You may have rights against the owner in civil court but the rights he had appear to be gone and your rights went with him. Maybe get some legal advise.

But hey....there may be a silver lining. Prices have continued to Fall and rates have too. In addition we may have a $15,000 dollar Tax Credit by this time next week. There are some very good financing programs out there too.

Call me and let me help figure out how you can take advantage of the money you have lost and turn this bad situation around to the good!

Best wishes;

Dirk Knudsen
Re/Max Metro Gold
... more
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