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Financing in Saratoga County : Real Estate Advice

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  • Home Buying5
  • Home Selling0
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Activity 18
Fri Oct 10, 2014
Very simple. We lender have to estimate what your taxes will be at closing. So in most cases the current taxes are higher than they will be when your tax assessor's office get around to reassessing them later that year or the next. So after the taxes are paid, we cannot have too much of your money in your impound account or we can get in trouble and have to pay you interest. So any excess is refunded to the borrower in order to bring the impound account to an acceptable balance. When I closed on my home, they impounded 12 months of taxes, at the end of the year I received a check for over $2,000.00. Came in handy right around Xmas. Always remember, "When in doubt...Reach out". If you are worried about it call your current loan servicer. ... more
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Sun Mar 23, 2014
Ted Rood answered:
As long as your credit, assets, income, and purchase price remain consistent with where they were, you'll be fine. A prior preapproval has no bearing (good or bad) on a new one. Make sure to keep the balances down on your credit cards, if they are near the credit limits you'll reduce your scores. Want to get pre-approved? Glad to help, I write loans in all states. I also wrote an article on the importance of being preapproved, you can read it by searching "Ted Rood" on the excellent website Mortgage News Daily. Thanks! Ted ... more
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Thu Feb 28, 2013
Alison Hillman answered:
Hi there-

I'd recommend you work with an agent:

Hope this helps!

Ali, Community Manager
0 votes 1 answer Share Flag
Fri Aug 3, 2012
Gregorio Denny answered:
Time frames depend on the lender you are working with. If they tell you that is how long it will take them, you should believe them. It may take someone else more or less time. Usually lenders prioritize purchase transactions so an FHA purchase can be easily completed in 30 days or less. ... more
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Thu Jul 12, 2012
Gumei answered:
I have one 2006 Challenger 604, and one 2010 Challenger 605.

If you are interested in it, Please contact me at; Cell 86-13553094572

Director of Secretary Division
Shandong Aviation Industry Association
... more
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Mon Jul 2, 2012
Aot2002 answered:
It's a 5 bedroom home in gansevoort and SGF district.

You should qualify
0 votes 1 answer Share Flag
Fri Jul 15, 2011
Dawn Mason answered:
Hi Margie,
As a single mom, I understand your situation. I have struggled to keep a roof over my little girl's head, too. It can be so tough. But you are doing the right thing, reaching out for help and finding a way to provide your kids a home. I'd be happy to help you in your search for that home, but your first step must be to talk to a lender. We need to know what your options are. Depending on your credit issues, you might be pleasantly surprised to find that you can purchase a home through some of the excellent programs available. If not, we can certainly look at rent-to-own properties. Please feel free to contact me directly. I'd be happy to help.
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Wed Jul 13, 2011
Annette Levinson answered:
You can refinance to take your spouse off the mortgage, if the applicant has sufficient income to carry the mortgage. NYS is not a community property state so that the lender doesn';t worry about your divorce. They would like the leaving spouse to be removed from the deed. If not they would have to sign the note. ... more
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Sun Mar 13, 2011
Terrence Charest answered:
This is a real estate site. The financing talked about here is for real property (ie - land and homes).
0 votes 1 answer Share Flag
Mon Apr 5, 2010
Hannah Fliegel answered:
Hi James,

Looks like you might be able to qualify for a mortgage even with a low credit score under 600, but why would you want to?

A low credit score will cause you to pay a higher interest rate on your mortgage with limited mortgage products available. You will also pay more for utilities, auto insurance, auto financing, credit cards and more.

Why not work to improve your credit rating through credit repair services first? Once you get your credit scores into the 700's then go shopping for a good mortgage product. Did you know that mortgage products get exciting once you reach the 720 threshold.

This way you set yourself up for success. Imagine what a good credit score is going to do for you. A larger home with a lower payment. with a good mortgage product. You will be in a home with a monthly payment that you can comfortably afford to make. Lower insurance premiums a nicer car with a lower payment.

You can get through life with a poor credit rating, you probably know that already. But let me share with you that life is much easier with good credit.

Good luck!

Hannah Fliegel
The Credit Repair Expert
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0 votes 4 answers Share Flag
Tue Mar 23, 2010
Debbies answered:
Thanks so much for all your answers.
Robin I heard if you have all your pulls done within a two week period it just shows as one pull.Isn't that right?

I agree.It is a great deal but to come to the table with $16,000 is not feasable.At least not for me.Can I ask the seller to pay closing cost?The seller being HUD.I read somewhere that HUD pays many of the closing costs.I just don't know how much.

Lew,I know NY State has some of the highest closing rates(if not thee highest)in the country.I'm going to contact the lender and have him go over those fees on the GFE so I know what they are and the charge.
Hopefully my real estate agent who deals in HUD deals can offer me some idea how much HUD will pay of those closing costs.
I'll be in contact with her this week so hopefully I get some good news.
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Fri Feb 26, 2010
Late payments on what? Mortgage lates? If so, you shouldn't have more than 2 X 30 days in last 12 months. If they are credit card lates, your score will be indicative of those lates and the lender takes that into account. If credit card lates, look for a broker that works with First Guarantee mortgage or AFR Wholesale. So far, those are the only two lenders I'm aware of that works with 580+ scores. ... more
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Fri Feb 26, 2010
Rachel A Kopp answered:
Hi Shannon,

Please email me at and I'll give you the name of a great loan officer who will be able to help you. I'll look forward to hearing from you!

Rachel A. Kopp
Keller Williams Saratoga Springs
... more
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Wed Jan 27, 2010
Lewis Beynon answered:
I agree with Erica. Below Ground SF is a very problematic area from the stand point that many agents and sellers will list "Finished Basement" and you get there and it is a joke. So, I never use it my Comparable Market Analysis, but I will add value to a home for a seller if it is quality. With that said, I'll only add $5,000 to $10,000 for a very nice finished basement. Recently I was at a listing appointment and added $10,000 for a finished basement to my suggested price. The seller kept saying "but I paid $30,000 for it". Needless to say I didn't get the listing. So, they "over priced" their home (by the $20,000) and it sat on the market for 6 months a finally sold for what I told them it would sell for. Keep in mind they also told me they were in a big hurry to sell!!! Good luck Tom. ... more
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Fri Jun 19, 2009
Bart Bergbom answered:
Have you allready attempted with your current bank or others?
What are you figures regarding equity of $193,000 based on?
If you would like I can put you in touch with a lender that may be able to assit you further.
Please contact me at to discuss further.
... more
0 votes 1 answer Share Flag
Sat Jun 6, 2009
Get-smart answered:
We are not the type of investment company that pays $10 for option consideration. Most real estate agents want sellers to think they have the magic bullet to kill their foreclosure problem. One thing an investor can do is contract to purchase the house from the homeowner which will open a lot doors since a lender won't agree to a short sale until there is an executed purchase agreement.

The quesiton for any agent that claims they are better because of ......, is "what can you do if my house doesn't sell, do you have some way to help at that point?". The reason for the question lies behind the concept that realtors belittle investors but what is the agent doing for the homeowners home they can't sell? Most of the time they pull up their yard sign and say sorry the market didn't produce a buyer.

There are a few options for homeowners that need to sell their house fast to an investor with the in full agreement then that is when the homeowner will have the best benefit.
... more
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