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Home Buying in Statesboro : Real Estate Advice

  • All45
  • Local Info3
  • Home Buying8
  • Home Selling0
  • Market Conditions5

Activity 9
Tue Aug 23, 2016
Debora7206 asked:
Tue Jul 15, 2014
Paul Newman answered:
Please let me know if you would like some local lenders to see if you would qualify for a home purchase. If you do not get approved you could always rent for a year until your credit score improves. 135 ... more
0 votes 3 answers Share Flag
Thu Sep 19, 2013
mwanderson68 answered:
Hello, my name is Michael Anderson with Ranch Park Homes in Macon Georgia. I specialize in all areas of the Manufactured and/or Modular Housing industry and assist customers in finding land in the area they desire (up to 10 acres). Modular homes are built with the same and often higher standards then most site built homes. Most contractors serving the 80,000.00 to 150,000.00 bracket went out of business due to the housing fall due to lack of approvals or the plight of construction lending. Our industry stepped up to serve this bracket of consumers to satisfy NEW Construction buyers with better quality and loans with “One time closings” with the freedom of choosing your land away from congestion, but not too far from good schools or Wal-Mart..lol The Government, Appraisers, Lenders, Insurance Companies and the Tax Assessor’s now recognize these homes to be in the same class as any stick built home. Because, they are built in a single location (keeping labor cost down), in a controlled environment (assembly line and out of the weather), and materials are bought in bulk purchases (discounts ), we are able to keep the cost Lower than a home built on site with the same square footage. Would it not cost you more if you had your car built in your driveway instead of a factory assembly line. Every plant, not only, has Government safety standards to abide by like automobiles, but also has government employed inspectors working directly in each plant. Modular homes come with 10 year structure warrantee which gives the home owner piece on mind unlike a 90 day warranty offered by contractors... We not only offer newly constructed homes and various land options, but we have "on location" financing which is flexible to help overcome past credit issues or are just starting out with little or no credit as a first time buyer.
1. Financing- We offer rates, as low as 4.25% fixed. Ranch Park Homes mainly specialize in helping individuals with credit issues and/or have been turned down by other dealerships. Our approval success is mainly due to our exclusive lending programs that other dealers and realtors in GA, FL, and SC are not fortunate to have. Many cases, we have either got a customer approved when they were turned down doing it themselves, or got a customer more money, because the lender didn’t approve them for enough money to get what they wanted. We are the only USDA approved Modular Housing Dealer/Builder in GA, so the customers never have to go to branch offices and deal with a “DMV atmosphere,” and unwillingness to help the individual housing needs. There are conforming programs such as “First Time Buyers”, VA, FHA and USDA. We also have non-conforming chattel loans, for people who only want to finance the home and not get their land involved. We also have a credit rebuilding program for individuals needing their score raised for qualification. We help raise credit scores, on the average of, 40-60 points for 85% of our customers. This usually either helps them reach the minimum requirement for an approval or reach the next best program to lower their monthly payment. Not only do we get more customers approved by outside lending sources then our competitors, in many cases, we offer owner financing as well.
2. Land- We will take the time to help you locate land in the County or area you want to live, if you have difficulties finding land. Once the desired land is found we will either bid / negotiate a contract/or even, in many cases, purchase the land giving you bargaining power to lower the price on the land, only to help lower the payments on the overall land/home package. If you already have land in mind, and qualified, the quicker you get us the information, we are able negotiate with the seller to get you the best price. If you own your land or if someone is going to deed you land, you can use that as your down payment and we will do all the improvements, such as , well, septic, land clearing, driveways, electric, etc. and all is included in one affordable monthly payment with your new home. Or, you get just the home only without your land. Owning your own land will also qualify you for our GUARANTEED APPROVAL PROGRAM. We have a (NO MONEY DOWN) program to those who qualify. Ask about this program because it benefits many people.
3.. We have 7 lines of different manufactures (Destiny, Franklin, Clayton, and Cavalier, Live oak, Scotbilt, White pine and TRU). Therefore, we will have a home that fits your desires and needs. Our high volume purchasing power allows us to compete with all price points in the housing industry. To see some of our homes you may visit our manufacturer’s website www.destinyhomebuilders.com or www.franklinhomesusa.com. This will able you to see the high quality our homes have to offer.
4. We customize homes that will fit your needs. You can even draft your own floor-plan and choose your
... more
0 votes 5 answers Share Flag
Thu Sep 19, 2013
mwanderson68 answered:
Thu Sep 19, 2013
mwanderson68 answered:
Hello, my name is Michael Anderson with Ranch Park Homes in Macon Georgia. I specialize in all areas of the Manufactured and/or Modular Housing industry and assist customers in finding land in the area they desire (up to 10 acres). Modular homes are built with the same and often higher standards then most site built homes. Most contractors serving the 80,000.00 to 150,000.00 bracket went out of business due to the housing fall due to lack of approvals or the plight of construction lending. Our industry stepped up to serve this bracket of consumers to satisfy NEW Construction buyers with better quality and loans with “One time closings” with the freedom of choosing your land away from congestion, but not too far from good schools or Wal-Mart..lol The Government, Appraisers, Lenders, Insurance Companies and the Tax Assessor’s now recognize these homes to be in the same class as any stick built home. Because, they are built in a single location (keeping labor cost down), in a controlled environment (assembly line and out of the weather), and materials are bought in bulk purchases (discounts ), we are able to keep the cost Lower than a home built on site with the same square footage. Would it not cost you more if you had your car built in your driveway instead of a factory assembly line. Every plant, not only, has Government safety standards to abide by like automobiles, but also has government employed inspectors working directly in each plant. Modular homes come with 10 year structure warrantee which gives the home owner piece on mind unlike a 90 day warranty offered by contractors... We not only offer newly constructed homes and various land options, but we have "on location" financing which is flexible to help overcome past credit issues or are just starting out with little or no credit as a first time buyer.
1. Financing- We offer rates, as low as 4.25% fixed. Ranch Park Homes mainly specialize in helping individuals with credit issues and/or have been turned down by other dealerships. Our approval success is mainly due to our exclusive lending programs that other dealers and realtors in GA, FL, and SC are not fortunate to have. Many cases, we have either got a customer approved when they were turned down doing it themselves, or got a customer more money, because the lender didn’t approve them for enough money to get what they wanted. We are the only USDA approved Modular Housing Dealer/Builder in GA, so the customers never have to go to branch offices and deal with a “DMV atmosphere,” and unwillingness to help the individual housing needs. There are conforming programs such as “First Time Buyers”, VA, FHA and USDA. We also have non-conforming chattel loans, for people who only want to finance the home and not get their land involved. We also have a credit rebuilding program for individuals needing their score raised for qualification. We help raise credit scores, on the average of, 40-60 points for 85% of our customers. This usually either helps them reach the minimum requirement for an approval or reach the next best program to lower their monthly payment. Not only do we get more customers approved by outside lending sources then our competitors, in many cases, we offer owner financing as well.
2. Land- We will take the time to help you locate land in the County or area you want to live, if you have difficulties finding land. Once the desired land is found we will either bid / negotiate a contract/or even, in many cases, purchase the land giving you bargaining power to lower the price on the land, only to help lower the payments on the overall land/home package. If you already have land in mind, and qualified, the quicker you get us the information, we are able negotiate with the seller to get you the best price. If you own your land or if someone is going to deed you land, you can use that as your down payment and we will do all the improvements, such as , well, septic, land clearing, driveways, electric, etc. and all is included in one affordable monthly payment with your new home. Or, you get just the home only without your land. Owning your own land will also qualify you for our GUARANTEED APPROVAL PROGRAM. We have a (NO MONEY DOWN) program to those who qualify. Ask about this program because it benefits many people.
3.. We have 7 lines of different manufactures (Destiny, Franklin, Clayton, and Cavalier, Live oak, Scotbilt, White pine and TRU). Therefore, we will have a home that fits your desires and needs. Our high volume purchasing power allows us to compete with all price points in the housing industry. To see some of our homes you may visit our manufacturer’s website www.destinyhomebuilders.com or www.franklinhomesusa.com. This will able you to see the high quality our homes have to offer.
4. We customize homes that will fit your needs. You can even draft your own floor-plan and choose your
... more
0 votes 5 answers Share Flag
Tue Aug 23, 2011
Steve Pate answered:
You shourl allways find an agent to represent you! The listing agent represents the bank, the bank is his client and you would be a customer. He would have NO fiduciary responsibility to you. He would have to negoiate the higest price possible for his client, the bank. Either the listing agent makes all the comission or he splits it with the selling agent, the one who represents you. Call me and I will let you know about the scheduled price drops and the closing costs that they will pay. I sold 54 Fannie Mae properties so far this year and know their pattern.
Steve Pate
678-707-0050
... more
1 vote 7 answers Share Flag
Sun Aug 21, 2011
Steven Ford answered:
Your agent probably does not have that information anyway. The listing agent can tell your agent anything the seller allows. Therefore, if your agent asks the lising agents for that information, you might get some that share it and some that don't.

Listing agents are not at liberty to share anything that is confidential between them and their seller...to do so is a violation of our ethical code and the agent could be subject to discipline from their local board or state.
... more
0 votes 10 answers Share Flag
Sat Oct 9, 2010
Monir Mamoun answered:
Hi Trace, yes, barely :) -- you need to be able to put 10% down to keep things simple with an FHA loan.

I got two relevant things for you to read -- this is a blog excerpt from Bill Zielinski...

----

The FHA is introducing new guidelines on loan to value ratios and the minimum credit score required for FHA borrowers. As detailed in a Mortgagee Letter from the Department of Housing and Urban Development (HUD), the following credit requirements will apply for FHA borrowers, effective October 4, 2010.

* To be eligible for maximum financing, borrowers will need a minimum credit score of 580 or higher.
* Borrowers with a credit score between 500 and 579 will be limited to a loan to value of 90%. A sub 580 FICO credit score borrower will henceforth need to make a 10% minimum down payment on a purchase transaction.
* All borrowers with a credit score below 500 will not be eligible for FHA-insured mortgage financing.

HUD’s newly introduced minimum credit score and loan to value requirements will apply to all single family loan programs, except for Reverse Mortgages (Home Equity Conversion Mortgages) and Hope for Homeowners.

The new credit requirements are not expected to dramatically change the number of FHA mortgage approvals. Most lenders had already imposed a minimum credit score requirement of 640 or higher for FHA borrowers. In limited cases, borrowers with scores between 620 and 639 could still obtain mortgage approval.

Many potential FHA borrowers with scores below 640 who cannot obtain mortgage approval may be left wondering why this is the case if the FHA has established a minimum score of only 580. The explanation for this is that the FHA does not make mortgage loans but rather insures FHA loans made by lenders. Despite the FHA insurance, banks do not have an iron clad protection from loss.

---
... rest of that blog at http://seekingalpha.com/article/223956-the-fha-s-new-minimum-credit-score-requirement-won-t-change-much


And I wrote a 10 part blog called "Top 10 Credit Myths" which is good..

http://www.trulia.com/blog/monirmamoun/2010/10/top_10_credit_myths
... more
0 votes 2 answers Share Flag
Sun Sep 12, 2010
Lori Beardslee answered:
Steven, for an FHA loan with 3.5% down payment, you need to be 2 years and 1 day after discharge of the bankruptcy before you could close on a loan. You also would have needed to re-establish new credit during that two year credit. Possibly a secured credit card at the bank to start with. You can have NO late payments at all after a bankruptcy. For conventional financing with 10% down you would need to wait 3 years. Good luck to you and if you have any questions, do not hesitate to ask. We are here to help. ... more
0 votes 3 answers Share Flag
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