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Southeast : Real Estate Advice

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  • Home Buying1
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Activity 3
Thu Mar 3, 2016
Vrich811 asked:
We own a home & only have 2 yrs before the mortgage loan is paid off....
The house is in need of repairs & the yard has become more than we can handle due to health issues...
We…
0 votes 0 Answers Share Flag
Wed Apr 9, 2014
Paul Marzolla answered:
Doug,


The way credit scores are determined for mortgage financing is by the use of a "tri-merge report" which combines your scores from all three major bureau's; Transunion, Equifax, and Experian. The middle score of the three is used for qualifying purposes.

With a score in the mid 600's you absolutely have available options, even in the jumbo market. The thing is, especially with jumbos, many lenders will have varying underwriting guidelines. Please remember that credit is only one aspect of the qualifying process. While your income looks sufficient, I would still need a better understanding of the projected sales price, property taxes, and your monthly debts (minimum payments for credit cards, any loans, etc.) in order to determine ALL of your available options.

It's best that we speak so I may gain a clearer snapshot of your scenario and advise you with the most current, accurate information. Please contact me at your earliest convenience, I may be reached directly at (201) 957-6768 or via email; whichever is easiest for you.


Kind regards,


Paul F. Marzolla
Sr. Mortgage Consultant
____________________

(201) 957-6768
info@paulmarzolla.com
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Sun Jan 20, 2013
Donald Mituzas answered:
I live in Southeast and there are two train stations in Southeast. The Southeast station has about 1,000 parking spaces and the Brewster station has about 700. There are also some private lots near the Brewster station. The waiting list shouldn't be that long. If you are using an agent for your purchase they should be able to give you a good idea of wait time for a space. As you get closer to NYC there is less available parking and hence a longer wait. If you don't mind walking a few blocks there is parking near the Croton Falls train station where you can park on the street for no cost. This is something you might consider until you get a spot in Southeast. You might find the parking in Croton Falls is fine and end up commuting from there. Hope this helps.
Don
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