Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Sarasota : Real Estate Advice

  • All1K
  • Local Info85
  • Home Buying429
  • Home Selling27
  • Market Conditions70

Activity 31
Thomas Martin, Real Estate Pro in Hollywood, FL
Sat Nov 19, 2016
Thomas Martin answered:
We have private lenders/portfolio lenders that approve Florida borrowers case by case. Usually these days all lenders will want anywhere from 20-40% down and verify the ability and willingness to make timely payments and require a few trade lines for at least 12-24 months.

US Mortgage Lenders - Thomas Martin
Min Fico 580 FHA/VA Loan Approvals 7 days a week
PH: 954-667-9110
http://www.florida-mortgage-lenders.com/
... more
0 votes 13 answers Share Flag
Albert Woost…, Real Estate Pro in Sarasota, FL
Mon Oct 10, 2016
Albert Wooster answered:
It is easier to get $50K + loans because the loan origination fee for most mortgages is $900 and that would put the origination fee above allowed limits for a loan under $50K.
Why don't you try to get $50K loan?
If you want some mortgage brokers to talk to email me directly and I will send you my Wow list of local professionals including Mortgage people as well as home inspectors, insurance people, title companies, etc. my email is WoosterFLA@gmail.com
... more
0 votes 1 answer Share Flag
Britlneyladd, Home Buyer in New York, NY
Sat Apr 30, 2016
Britlneyladd asked:
I have no outstanding bills. I have impressive rental and work history, but no one is willing to work with me. Thank you for your help.
0 votes 0 Answers Share Flag
Joan Winters, Real Estate Pro in sarasota, FL
Thu Feb 25, 2016
Joan Winters answered:
You might want to look for a property with seller financing. Typically they will want a larger down payment and the interest rate will be more. Ask your realtor to use seller financing or even a lease option as search criteria. That will give you the time to build up your credit history so that at the end of the seller financing term or lease option term the banks will be willing to provide you with a mortgage.

Hope that helps :)
... more
0 votes 1 answer Share Flag
Diane Christ…, Real Estate Pro in Sarasota, FL
Wed May 27, 2015
Diane Christner answered:
Sarasota County's building department keeps permit records back more than 10 years, just not all data is available online. The city of Sarasota does have some records back more than 10 years but the information is difficult to obtain, you have to fax a written request. The question becomes one of what year was the conversion actually done. A lot of remodeling done in the 60's and 70's did not require the permits that are necessary today.

Just because the county is taxing you on the added living space does not make it legal. I am surprised your insurance company has not asked about permits as well as code compliance is becoming a picky topic of late with them.

Every appraiser I have spoken with is saying lenders will not include living square footage that is not in agreement with the property appraiser's information, most say the lenders also want to see proof of permits if there were garage conversions or enclosures of lanais and porches. If your addition was never permitted, there is the potential that the county (or city, depending on the jurisdiction) can now make you bring it up to CURRENT code requirements in order to obtain a permit, or sometimes even force you to tear down the enclosed structure and start over. Which may explain why you are having issues with the refinancing.

Have you spoken with anyone in the building department about your situation?

Regards,

Diane Christner, Realtor, GRI, SFR, CNE
Bright Realty
Sarasota, FL

www.dianechristner.com
... more
0 votes 1 answer Share Flag
Melvin List, Real Estate Pro in Tampa, FL
Mon Mar 30, 2015
Melvin List answered:
Depending on your situation you have other options such as the My Community program if you can meet the income restrictions. The My Community program has no upfront MIP and lower monthly mortgage insurance than FHA. You can also look into lender paid options at 3%-5% down.

Thank you,
Melvin List
Licensed Mortgage Loan Originator, NMLS# 243087
American Mortgage Services CO NMLS# 259805
Cell: 813.629.5478
www.flbestrate.com
... more
0 votes 1 answer Share Flag
Diane Christ…, Real Estate Pro in Sarasota, FL
Thu Mar 5, 2015
Diane Christner answered:
There are local lenders in the Sarasota area that handle financing for foreign investors. I know of both a bank and a mortgage broker that may be able to assist you.

Regards,

Diane Christner, Realtor, GRI, SFR, CNE
Bright Realty
Sarasota, FL

www.DianeChristner.com
www.DianeChristner.info
... more
0 votes 1 answer Share Flag
Tammy Hayes, Real Estate Pro in Port Charlotte, FL
Fri Nov 7, 2014
Tammy Hayes answered:
,  in
Sun Oct 19, 2014
answered:
I have a couple of programs that might assist you depending on your situation, we can go stated, use bank statements to qualify or full documentation. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been offering loans since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.

Bart Gabe - Lending Nationwide Since 1987

800 315 8803

www.bartprequalifies.com

bart@bartprequalifies.com
... more
0 votes 4 answers Share Flag
appraisalsic…, Home Seller in Charlotte, NC
Sat Jul 26, 2014
appraisalsiccmortgage answered:
Flexible, short term loans that give you lots of control.

DEAR VALUED CUSTOMER,


ICC MORTGAGE is here to help with occasional car flow, Have you ever searched for fund, loans, financial Assistance or need an accredited lender to help you meet up with your needs and demands? Do you want to buy a Car or any other property? Or have your bank turned you down? Are they delaying? Your plans with too much paper work? Is your monthly income disappearing due to high interest? Rate on your Loans, Credit or Bonds? Have you been blacklisted? Or you want to make Debts Consolidations ?

Then you have no alternative than to get an instant and reliable service from our loaning Agency. We offer Personal Loans @ 3% P.A ranging from ($2, 500.00 ! $500,000.00). While Business Loans @ 3% P.A ranging from ($500, 000.00! $20, 000,000.00). Loan duration is 1 to 300months (Maximum). Very easy and all you need to do to apply, Send us your PERSONAL DETAILS First.Your Full Name * Surname * ID Number * Cell No * Email,Address * Nationality * Send your details: appraisalsiccmortgage@gmail.com

We will always do our best to determine what you can comfortably afford to repay by taking your Current personal financial circumstances into consideration and then set your loan amount accordingly.Refer to the Loan Options Table below which was calculated at 3% P.A Personal Loan as a mere Guide. Choose the installment and loan term that suits you.

ICC MORTGAGE,1600 Stewart Ave, Suite 404 Westbury, NY 1159.

Best regards
Mr.Jason Rappaport
... more
0 votes 2 answers Share Flag
 jbcromwell7, Real Estate Pro in Port Charlotte, FL
Tue Mar 4, 2014
jbcromwell7 answered:
0 votes 10 answers Share Flag
Scott Fisher, Real Estate Pro in 34236, FL
Tue Feb 25, 2014
Scott Fisher answered:
Carolyn Hardy Movement Mortgage Awesome! 941.907.9595
0 votes 4 answers Share Flag
Stephen McRo…, Real Estate Pro in Tampa, FL
Fri Feb 14, 2014
Stephen McRory answered:
Mike, I'm likely the best Mortgage contact this side of the Mississippi for your situation. In my mind, I think I'm the very best Mortgage Broker on the planet! LOL Seriously though, with the deals I've been able to close in the 2011 to 2014 mortgage market, even my Mortgage Broker and Bank Rep friends tell me there is no way I'm getting these deals closed!....That is exactly what I love to hear! But enough talk and telling about the pregnancy, I need to show the Baby right? click on my website, review the programs and call me.....WWW.PRO-OPTION.COM ... more
0 votes 9 answers Share Flag
SunCoast Mtg…,  in Florida
Fri Feb 14, 2014
SunCoast Mtg Wholesale Direct answered:
Citadel Servicing Wholesale Smart Non Prime Lending

? Up to 80% LTV Available for Owner Occupied
? Up to 70% for Non Owner Occupied and Second Home
? 24 Month Bank Statement For Proof of Income Program for Self Employed
? Programs for 1 Day out of BK, Foreclosure or Short Sale
? Owner Occupied with Short Sale >1 Year to 80%LTV
? Owner Occupied Cash Out w/550 FICO to $1,000,000
? Owner Occupied with a Bankruptcy or Foreclosure > 3 Years to 80% LTV
Acceptable FICO Score Starting at 500!
30 Year Amortization, No Balloon!
No Prepayment Penalty – Period!
50% Debt To Income Standard!
FTHB is 43% DTI - FTHB with a score > 650 a 50% DTI Allowed.

Call Arthur for Broker Referral 941.536.6748
... more
0 votes 4 answers Share Flag
SunCoast Mtg…,  in Florida
Fri Feb 14, 2014
SunCoast Mtg Wholesale Direct answered:
Citadel Servicing Wholesale Smart Non Prime Lending

? Up to 80% LTV Available for Owner Occupied
? Up to 70% for Non Owner Occupied and Second Home
? 24 Month Bank Statement For Proof of Income Program for Self Employed
? Programs for 1 Day out of BK, Foreclosure or Short Sale
? Owner Occupied with Short Sale >1 Year to 80%LTV
? Owner Occupied Cash Out w/550 FICO to $1,000,000
? Owner Occupied with a Bankruptcy or Foreclosure > 3 Years to 80% LTV
Acceptable FICO Score Starting at 500!
30 Year Amortization, No Balloon!
No Prepayment Penalty – Period!
50% Debt To Income Standard!
FTHB is 43% DTI - FTHB with a score > 650 a 50% DTI Allowed.

Call Arthur for Broker Referral 941.536.6748
... more
0 votes 4 answers Share Flag
SunCoast Mtg…,  in Florida
Fri Feb 14, 2014
SunCoast Mtg Wholesale Direct answered:
Citadel Servicing Wholesale Smart Non Prime Lending

? Up to 80% LTV Available for Owner Occupied
? Up to 70% for Non Owner Occupied and Second Home
? 24 Month Bank Statement For Proof of Income Program for Self Employed
? Programs for 1 Day out of BK, Foreclosure or Short Sale
? Owner Occupied with Short Sale >1 Year to 80%LTV
? Owner Occupied Cash Out w/550 FICO to $1,000,000
? Owner Occupied with a Bankruptcy or Foreclosure > 3 Years to 80% LTV
Acceptable FICO Score Starting at 500!
30 Year Amortization, No Balloon!
No Prepayment Penalty – Period!
50% Debt To Income Standard!
FTHB is 43% DTI - FTHB with a score > 650 a 50% DTI Allowed.

Call Arthur for Broker Referral 941.536.6748
... more
0 votes 3 answers Share Flag
Ray Stevens, Real Estate Pro in Cape Coral, FL
Fri Jan 17, 2014
Ray Stevens answered:
Mark,

GSF has a Foreign National program if you are able to come up with 40% down and meet other conditions.

Why don't you have a credit history in Germany?



Sincerely,



Ray R. Stevens
GSF Mortgage Corporation
Branch Manager
Branch NMLS #1122003

NMLS #177825
Office: 239-471-7971
RStevens@GoGSF.com
... more
0 votes 2 answers Share Flag
Rebeccatrulia, Renter in United Amigos, Mesa,...
Tue Oct 8, 2013
Rebeccatrulia answered:
Hi Property Owner

I can't understand what you say. I have a reverse mortgage . Its name is reverse mortgage lenders direct. They are very helpful. You can get any question by search


http://www.reversemortgagelendersdirect.com/ohio-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/who-qualifies-for-a-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/hecm-programs/
http://www.reversemortgagelendersdirect.com/jumbo-reverse-mortgage/
... more
0 votes 2 answers Share Flag
Albert Woost…, Real Estate Pro in Sarasota, FL
Thu Dec 20, 2012
Albert Wooster answered:
Hi Sanjay,

I would suggest a mortgage broker who deals with 30+ banks.
The big banks like Bank of America and Wells-Fargo are going to have similar rigid policy and not be very creative in helping you.
To that end I would suggest this mortgage broker:
Mark C. Kach
Sentrix Financial Services
941.313.4000 (c) 703.574.3644 (o) 941.893.3274 (f)
M.kach@sentrixmortgage.com

I will give him a heads up that you might be contacting him for quote(s) and ideas.

If you are wanting to pull cash out of your real estate, possibly this is good time to sell one or more of your properties.
Our market is hot, inventory is low and prices are increasing.
Recent published numbers show that sellers are getting 95.6% of asking price.
For deeper stats see this Sarasota Association of Realtors Dec. article: http://www.sarasotarealtors.com/Dec2012Stats.pdf

If you want expert help feel free to contact me I have other valuable resources.

Best regards and Happy Holidays,

Stephen "Albert" Wooster - Realtor, P.A.
Allen Real Estate Services, Inc.
(941) 350-1220
www.SarasotaWowHomes.com
... more
0 votes 5 answers Share Flag
Lynn Brock, Real Estate Pro in Sarasota, FL
Wed Nov 21, 2012
Lynn Brock answered:
Franck, how you take title will not be an issue.

An individual will have to apply for the loan and go through the loan process. At closing the individual takes title and then places it into the entity. You will have to pay doc stamps twice for both titles.

If you paid cash then the entity could close the transaction.

Best regards,

Lynn Brock
Brock Realty Inc.
941.313.1234
www.brockrealty-inc.com

If you'd like to search the MLS like an agent in real time, you can visit our website and sign up for a free Listing Book account. You will be able to change the search criteria to suit yourself and received morning reports regarding new listings, price changes and recent pendings.
... more
0 votes 6 answers Share Flag
1 2
Search Advice
Search

Followers

500