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Home Buying in Terre Haute : Real Estate Advice

  • All90
  • Local Info7
  • Home Buying27
  • Home Selling1
  • Market Conditions5

Activity 28
Wed Jan 4, 2017
Angelica P answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Wed Jul 27, 2016
chastity bruner answered:
Seek out of town. They all know each other and its best to get a outsider for a true estimate and or proper inspection. Thanks.
0 votes 1 answer Share Flag
Wed Jul 27, 2016
chastity bruner answered:
No pets ,no smoking, you pay utilities and it starts around $ 400/month for a 1 bedroom. I wouldve went there if it wasnt for the pets.
0 votes 2 answers Share Flag
Fri Apr 1, 2016
Flaxengates asked:
Mon Nov 30, 2015
pascal pelat answered:
You can get a mortgage.still but guarantees asked may be a bit more than usual.
We got a mortgage through a foreign bank in New York who does not care at all AND especially if you are foreigner and non resident, which is rather rare.

Good luck.
... more
0 votes 11 answers Share Flag
Mon Aug 18, 2014
Annette Lawrence answered:
The difficulty in selling a house in Terre Haute depends on location, condition and price.

Consult a local REALTOR to get started correctly.
0 votes 2 answers Share Flag
Fri Jun 13, 2014
answered:
Have you tried to get pre-approved? Now is a great time to buy.

For mortgage help, call (855) 893-1177 or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states and you can apply online at http://www.myccmortgagebn.com. We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 893-1177.

Brad Neumann
Branch Manager
Crosscountry Mortgage Inc.
Phone: (855) 893-1177
Email: bneumann@myccmortgage.com
NMLS# 948036
... more
0 votes 1 answer Share Flag
Fri Nov 29, 2013
Robert Martin answered:
This home is a foreclosure and the bank that owns it will not consider a contract sale.
0 votes 1 answer Share Flag
Mon Nov 11, 2013
Charles Parks answered:
Fri Nov 8, 2013
Charles Parks answered:
In Indiana the only First Time Home Buyer program that I am aware of is part Indiana Housing. They have a 3 year requirement. Vigo County is considered a "target" county by Indiana Housing. Therefore there is no waiting period. ... more
0 votes 1 answer Share Flag
Wed Oct 16, 2013
answered:
What is minimum credit score for a FHA Loan in Kentucky?



What is minimum credit score for a FHA Loan in Kentucky?

article by Bill Zielinski






The FHA is introducing new guidelines on loan to value ratios and the minimum credit score required for FHA borrowers in Kentucky. 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.

Kentucky FHA 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 Kentucky FHA borrowers with a credit score below 500 will not be eligible for FHA-insured mortgage financing in Kentucky.

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 ofKentucky FHA mortgage approvals. Most lenders had already imposed a minimum credit score requirement of 640 or higher for Kentucky FHA borrowers. In limited cases, borrowers with scores between 620 and 639 could still obtain mortgage approval.



Many potential Kentucky 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.



To protect themselves from loss exposure, FHA lenders impose various requirements that may include establishing higher minimum credit scores. Some of the factors that influence banks in their assessment of risk on FHA loans are discussed below.



More and more banks are increasing the minimum credit score on FHA loans to attract a better overall execution (sales price) on their securities which improves profitability. Nonetheless, the increase in the minimum credit score isn’t always about protecting the bank on a potential future loss. In a lot of cases a bank feels more comfortable with a profit model that positions itself as a mortgage seller with a higher weighted average credit score on their pool for many other factors.



A credit score is an 18 month predictive measure of future performance but is not as reliable when a state or region is hit by some unpredictable negative economic factor. An increase in the minimum credit score can be used as an override to protect against losses resulting from a sudden downturn in the economy.
... more
1 vote 11 answers Share Flag
Thu May 30, 2013
Angela Burch answered:
Most sellers do not have the ability to sell there home on contract due to a clause in their Mtg. that the bank includes, its usual for sellers to have to sell the home out right so they can take their proceeds & buy somthing else. The best bet for you to figure out if this home would be able to be bought via a contract sale would be to contact the listing agent. I think the listing agent for this home is Jim Thomas, call him & he should know the sellers situation & be able to advise you. ... more
0 votes 1 answer Share Flag
Thu May 30, 2013
Angela Burch answered:
I have had the opportunity to use all the inspectors mentioned, I have been a Realtor in Terre Haute for 19-years & when I have to do a whole house inspection I use Rick Louderback (812-236-6325). He is very honest, fair & does a complete job & communicates well W/my clients. He supplies every inspection with a written report explaining what he has found along W/pictures to back up his written observations. Rick is also licensed to do termite inspections, Radon measurements, water samples: Bacteria/Lead/Chem. & for a house less than 2500 Sq. Ft. he charges $210.00 & over 2500 sq. ft. $260.00. BUT... I would caution anyone using a whole house inspector, they are not licensed or bonded in all of the trades that they inspect. Example: Once the inspector figures out the A/C is not cooling properly (from a thermometer they put in the vent) they will tell you to contact a licensed HVAC person for further investigation. Then you have to turn around & pay another company to come in & figure out what the specific problem is that the whole house inspector has thrown up the red flag on. If I have multiple areas of concern I line up the specific tradesman & have everyone come 15-20-min later than the last & I am able to get specific areas inspected & if an issue is found I can get an estimate for repair instead of having to hire multiple people/companies for the same job. ... more
0 votes 4 answers Share Flag
Thu Apr 4, 2013
answered:
With an FHA loan, it's normally 2 years after the date of discharge on a Chapter 7. It could be as soon as 1 year if extenuating circumstances caused the BK, such as death of a coborrower or a prolonged uninsured illness. But this is a tough exception to get.

On a conventional loan it is normally 4 years from the discharge date, 2 years if you have extenuating circumstances.

The waiting period alone does not make you automatically eligible though. You'll need to re-establish good credit as well. That means a minimum of a couple tradelines with at least a 12 months history and also, ZERO late payments or collections accounts since the discharge. Either of these can set you back to square one.

Hope this helps!
... more
0 votes 1 answer Share Flag
Sun Mar 3, 2013
Derek Crager answered:
FHA does have a provision where they will allow a purchase on a new home immediately after a short sale provided the mortgage that is going thru the short sale be current for the past 12 months. Attached is the full rule and below is the snapshot. All other loans would require a delay of a few years before being eligible. As long as our loan amount stays under 270k it would appear we could proceed with a new loan.

CLICK Thumbs Up if this answer is useful to anyone you know.

*Actually, I'm not able to attach the graphic to this answer.
Email me for graphic or use the following DropBox link to view the .PNG graphic file.
... more
0 votes 4 answers Share Flag
Sun Feb 17, 2013
Angie Picklesimer & Jeff Dierks answered:
John, you need to read the details and discriptions. This verbage is usually there. Not necessarily in the body of the listing sheet. Please call if I can help further. Angie- 812-870-8561 ... more
0 votes 2 answers Share Flag
Thu Nov 15, 2012
Pamela St. Amour answered:
ask a pro in your area who he/she uses for their pre-approvals and call them to get started
0 votes 2 answers Share Flag
Sat Nov 26, 2011
Gina answered:
i have the answer USAA is a joke failed me at every step of the way ..lies lies lies....never trust them they say one thing and do another.
1 vote 19 answers Share Flag
Tue Sep 13, 2011
ashleesue answered:
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Home Buying in Terre Haute Zip Codes

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