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Financing in Tampa : Real Estate Advice

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Activity 113
Thu Sep 21, 2017
connoranne answered:
my personal experience i had to get some of my collections removed before buying a home, my mortgage rep had told me it would be better to get them removed. WHICH I HAD NO CLUE WHAT TO DO..... we got recommended to a company called select us which was great, they had all four collections removed my score jumped up higher and it also all happen in less then 6 months i was so so happy ... more
1 vote 8 answers Share Flag
Sat Jul 8, 2017
kitty kelleher asked:
The mtg is in my deceased mother's name but I have been making the payments since she passed away. I was thinking of doing a cash out refi to make some repairs up dates but the fees are…
0 votes 0 Answers Share Flag
Tue May 23, 2017
answered:
Hello, I'm a mortgage professional.

We have programs for your situation.

If you have any other questions or would like help you are welcome to get in touch with me.
0 votes 1 answer Share Flag
Mon Apr 17, 2017
answered:
FHA and VA down to 500 credit score with compensating factors.
Bank Statements
No Doc

I work with all type of credit situations including trying to help you raise your scores if possible.

Melvin
http://www.flbestrate.com/
813-629-5478
... more
0 votes 7 answers Share Flag
Sun Apr 2, 2017
Henry.jeannine7 answered:
If I signed a letter to gift my portion of a house away how many days do I have if I wanted to cancel it .
0 votes 11 answers Share Flag
Wed Mar 8, 2017
answered:
Hello, I'm a mortgage professional.

We actually have programs avialable that will lend on mobile homes on land.

I would need more details to determine how I can help you.

You are welcome to get in touch with me if you would like help with this. ... more
1 vote 1 answer Share Flag
Mon Feb 6, 2017
answered:
If you are looking to do an FHA loan, then yes you will likely need to wait 6 months. They're not gonna take that much higher of a value without it seeming extra risky. Conventional, however, shouldn't pose that much of a problem depending on what your objectives are.

What is your goal in refinancing? Are you looking to cash out some of that equity or just refinance the current balance into a better rate? Also, is the current loan a recorded lien against the property or is it unsecured?

If you are trying to take cash out, then you need to wait. These limits are put in place to discourage fraudulent lending based on inflated property values. If the loan is not secured against the property, you need to wait. It's because the loan will be considered cash out anyway.

If you are just looking to refinance the balance on a recorded, secured, mortgage, then you should be able to refinance and use the newly appraised value without waiting 6 months. Now, that doesn't mean a bank will necessarily approve the loan. You may have to justify why/how the home is worth that much more in such a short time after buying it - document improvements made via receipts, work orders, etc.

Could be that the bank may have a 're-capture fee' meaning that if you pay off the loan within 6 months then they are required to pay back any commission they earned on the original loan. That would certainly be motivation to tell you that you MUST wait
... more
1 vote 1 answer Share Flag
Sat Nov 5, 2016
answered:
Hi James. Possibly. It depends on your monthly liabilities (debts) and your defined retirement. Do you have time to discuss? I'm a local lender in St. Petersburg and would love to discuss what we have to offer. My number is 727-877-5684. You are also welcome to email me at tmayo@baywaymtg.com. ... more
0 votes 1 answer Share Flag
Sat May 21, 2016
Bill Cook answered:
I can do this under a few programs but not with an LLC on title.
0 votes 6 answers Share Flag
Sat May 14, 2016
Brianscottlambert answered:
Call Frank Gemma (pronounced Jemma) at Caliber Home Loans. Amazing experience! He can reached at:

1715 N. Westshore Blvd. Suite 860
Tampa, FL 33607
Office: 813 518-7114

I am also in the process of obtaining a home through the 203K process and regardless of what you may read, the 203k process is NOT a difficult process so do not be intimidated or frightened away. The "tricky" part is making sure you have a cooperative contractor who is responsive and detail oriented with the inspection paperwork and associated estimates. As long as the contractor completes all paperwork in a timely manner and how the FHA requires, you will not have a problem at all.

As a result of my experience, I have combined my 17 years of real estate experience with my career as a renovation/rehab specialist and created a full service 203k consulting and construction service. Feel free to reach out to me and I will be happy to help answer any questions you may have.

Brian
... more
0 votes 23 answers Share Flag
Sun Dec 6, 2015
Five Stars answered:
This is common with all large builders, they can't make you use their in house lender. However, they can only offer the closing costs if you do... but everything is negotiable.

Five Stars Mortgage
National Home Loan Resource
7 days week - 9am-8pm
Ph: 800-871-2636
www.FiveStarsMortgage.com
... more
1 vote 8 answers Share Flag
Thu Nov 19, 2015
Fscballer asked:
I have approx. 25% equity in the first house. It has been rented consistently for more than the mortgage and income is reported on Schedule E.
My FICO score, depending on the source, ranges…
0 votes 0 Answers Share Flag
Sat Nov 14, 2015
Usda Mortgage Source answered:
There are some locations just east and north of Tampa (pasco) that are still eligible for USDA, As long as you have proper continuance of the income, and your debt to income falls into the requirements, you should be fine. Contact with any questions..

USDA Mortgage Source
Florida USDA Loans, 7 days a week
Ph: 904-302-6060
www.UsdaMortgageSource.com
... more
0 votes 3 answers Share Flag
Thu Nov 12, 2015
raymond frey asked:
Wed Nov 11, 2015
Kathy Lewis answered:
The Loan officer should have checked the USDA turns times in advance and set the proper expectations on closing in advance.

USDA Mortgage Hub
100% USDA Rural Housing Loans
Serving all 50 states
Ph: 800-691-8826 (7 days a week)
www.UsdaMortgageHub.com
... more
0 votes 5 answers Share Flag
Tue Oct 27, 2015
floridanewhomes answered:
are CDD's taxes deductible on your yearly income taxes such as the interests?
0 votes 11 answers Share Flag
Mon Oct 26, 2015
Tomp7879 answered:
If anyone else is looking for a construction loan. I just got mine from Eduard Gubarik at National Residential Mortgage. Financed the project at 100%. Bank financed. Great experience! Would recommend Eduard to anyone looking to buy land or to build a home. Look him up on Linkedin
https://www.linkedin.com/in/landloanguy
... more
0 votes 8 answers Share Flag
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