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Financing in Sun City : Real Estate Advice

  • All122
  • Local Info6
  • Home Buying38
  • Home Selling6
  • Market Conditions11

Activity 7
Mon Apr 18, 2016
Karen Peyton answered:
This is a time when a real estate professional is worth their weight in gold!

Mobile/manufactured home sales and mortgage loans are a niche market in the Phoenix area with only a fraction of agents and lenders doing business in the arena.

If you don't have an agent of your own (which I highly recommend) you might pose your question to the Seller's agent. One of our jobs as agents is to identify possibilities of financing when we list a property for sale.

If neither you nor the Seller have an agent, I suggest the person "here" does some investigation to locate agents. The old fashioned way is best, driving the neighborhood and general vicinity in search of "for sale" signs. Call them. Agents will be the best source of information in finding a suitable lender.

Gird your loins! It will be a challenge!

Best of luck!
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Fri Dec 18, 2015
My NC Homes Team answered:
I am unaware of any traditional lenders that offer "no income verification loans" whioch only leaqves you speakign to hard money lenders who will likely be asking for an interest rate in the 8-12% range. ... more
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Thu May 29, 2014
Gregorio Denny answered:
You might want to add some detail to your question as to why you were told this. What was the reason they said you could not get a VA loan?
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Mon Feb 24, 2014
Steffy Hristova answered:
I can help you look at rental prices and also I can help with evaluating some financing decisions. Please email me or call to discuss.
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Thu Jul 12, 2012
Just to clarify on another answer, there is NOT a 125% limit to the availability of a HARP refinance. Depending on whether you have a Fannie Mae owned loan or Freddie Mac owned loan will determine what lenders might be able to do your refinance. We do have the ability to do a Fannie Mae or Freddie Mac owned loan with NO limit to the Loan To Value (LTV). FHA streamlines with no appraisal use the original appraised value at the time of your current loan, but they do have a 125% limit to the LTV. However, if you got the current FHA loan more than a couple years ago, then there is a good chance your last appraisal was much higher than where your property value is now, so your LTV will likely be much lower.

While short sales are an option, you should definitely check into your refinance options if your rate is higher than current rates and you're able to make your payments. Property values are rebounding quite well this year and you should take your entire financial picture into consideration before any decision. You don't want to damage your credit for the next several years by short selling if you could potentially see your property value get back above your loan balance in the shorter term.

Brian Cardenas, Sr. Mortgage Banker
AmeriFirst Financial, Inc.
Mobile: 480.233.7897
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Tue Jul 14, 2009
Barry answered:
These answers are right on. Down Payment Assistance programs such as AmeriDream that were helping 100,000 himeowners a year achieve the American dream were eliminated in October 2008. These were Seller participated programs where the Seller was willing to make a contibution to the AmeriDream Non-Profit from their proceeds at closing. In turn AmeriDream would gift the funds to the Buyer upfront to qualify and close the loan. It's a shame that the Government has hurt Buyers like you from participating in these programs. There is a stong effort by AmeriDream to have these programs inacted back into law. HR600 is a bill introduced in Congress to Modify Down Payment Assistance Programs with Seller participation. Get
involved and have your voice heard that you want these programs back so you too can have the American dream. Go to the link below and it will take you to AmeriDream's 'Call to Action'.

Good Luck!
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Sun Sep 9, 2007
Mr.P answered:
Hi Louis
Of course you can pay for this Information, However I think you will find your answer In one or both of the free web sites below.
If you want, email me a address.
Good Luck - Scroll Down for this one
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