Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Toledo : Real Estate Advice

  • All151
  • Local Info10
  • Home Buying57
  • Home Selling9
  • Market Conditions2

Activity 10
Mon Jul 10, 2017
First Guaranty Mortgage Corporation
Tom Martinson
(760) 419-7337

We do FHA and VA Construction loans in most States
1 vote 15 answers Share Flag
Wed Sep 21, 2016
Jessica Gerrity asked:
Hi all,

Im looking for a mortgage with 0-3% down and preferably no pmi in the state of Ohio. Ive found lots of options in other states and also many that are restricted to first time…
0 votes 0 Answers Share Flag
Sat Aug 1, 2015
Malekfinancials answered:

Do you have a bad credit?
Do you need money to pay bills?
Do you need to start up a new business?
Do you have unfinished project at hand due to bad financing?
Do you need money to invest in some area of specialization which will profit you? and you don't know what to do.

I am Mr. Maleek Johnson, a private money lender. I give out loans with an interest rate of 3% per annual and within the amount of 1,000.00 to 10,000,000.00 as the loan offer. 100% Project Funding with secured and unsecured loans are available. We are guaranteed in giving out financial services to our numerous clients all over the world. With our flexible lending packages, loans can be processed and funds transferred to the borrower within the shortest time possible. We operate under clear and understandable terms and we offer loans of all kinds to interested clients, firms, companies, and all kinds of business organizations, private individuals and real estate investors. Just complete the form below and get back to us as we expect your swift and immediate response. EMAIL:

We offer the following loans below,
*personal loans[secure and unsecured]
*business loans[secure and unsecured]
*combination loans
*students loans
*Auto Loan Refinance
*consolidation loans and so many others.

Interested applicant should please fill our application form below.


Full Name ..........
Age .......
Personal Phone Number .......
Country ......
Email ............
Address ........
State .....
Have you applied before? .....
Marital Status ............
Loan amount needed as loan ............
Loan Duration .......
Occupation ........
Monthly Income........
Do you understand English?..........

In acknowledgment to this mail, we can start with the processing of your loan. There is more to gain by getting a loan from this company.

... more
0 votes 2 answers Share Flag
Tue Mar 18, 2014
M R 330.338.5130 answered:
Yes there absolutely is. you may need to shoe proof of income for 60 days, but many lenders will finance you with this condition. You may need to write 60 days in the contract for closing. ... more
0 votes 4 answers Share Flag
Thu Aug 30, 2012
Jim Beatty answered:
Google search the "Lucas County Recorder's Office", you can search the website for that info.

If you have trouble finding it, you can call the recorder, they'll help you.
0 votes 4 answers Share Flag
Thu Aug 30, 2012
Sue Kiene answered:
It sounds like you are qualified to purchase a "summer home" if that is what you are asking. If that is what you are asking, let me know how I can assist you in proceeding with your real estate needs. I am licensed in Ohio and Michigan so I can assist you in both states. Let me know what I can do to assist you and have a terrific day. ... more
0 votes 2 answers Share Flag
Thu Aug 30, 2012
Chuck Bell answered:
"zahc" chaz backwards? how can i help you with your realestate needs in TOLEDO OHIO?
Chuck Bell 419-290-4431
0 votes 1 answer Share Flag
Thu Aug 9, 2012
Cindy Keil answered:
Check with your local lender and see if you can take a home equity line of credit to purchase a home.
0 votes 3 answers Share Flag
Thu Apr 21, 2011
Judy Stone answered:
i would strongly suggest you check your credit report and to work with a credit counseling service to clear up your credit report. I would also suggest checking with lenders to see what their input would be--and keep paying your bills on time. ... more
0 votes 8 answers Share Flag
Sun Jan 10, 2010
Jim Beatty answered:
One thing that the other answers don't cover is how it is that Fannie/Freddie influence the market and that sounds like the heart of your question.

Fannie/Freddie (the GSE"s) purchase loans made by other lenders, which frees up capital so they can make more loans.

Very few lenders make loans that they hold in their own portfolios anymore.

Since the GSE's are the biggest buyers of mortgage loans, they set the criteria for which they will purchase these loans. In other words, the GSE's can say "we'll buy loans with 80% loan to value, 36% debt ratio, and so on" (these percentages are just for sake of example)

Loans which "conform" to these guidlines are called "conforming loans". However, lenders do have the ability to make loans that don't conform to the Fannie/Freddie guidelines. The banks who do this are called "non conforming lenders" or "portfolio lenders" because when they make these loans, they can't sell them to the GSA"s since they don't meet the guidlines, which means the lender has committed that amount of capital for the life ot fhe loan.

To think of it in greatly simplified terms, think of it like this: Suppose you had a million dollars to lend to people. You could make 10 loans of 100,000 and then you would be "loaned out". But suppose you could make a loan and sell it to someone else who gives you, say, 98,000 back a few days after the closing, you could loan that money again and again and again.

Leading up to the time the real estate bubble burst, there were many other non-conforming lenders because there were many other entities who were purchasing loans on the secondary market who set their own guidelines. Some of these were hedge funds (I believe they invented the "option arm" mortgage), some were insurance companies and other institutional investors.

This started out as a good idea to make loans that don't fit the GSA's guidelines as a conforming loan, but the loan still makes sense. However, over time, the secondary market let the sight of short term profits in MAKING the loan blind them to the long term effects of their ever loosening criteria. In other words, the pendulum had swung too far to the "loose" side.

There are a couple small banks in the area, Croghan Colonial in Fremont, Citizens Bank in Sandusky and First Federal of Defiance (actually and S&L) who will still make their own "portfolio loans" or "non-conforming" loans, but there are darned few of these banks left.

I believe that 5/3 also makes a small number of portfolio loans under their Flex program, but i understand that their loan criteria has tightened with the housing bubble like many others have. You might also try NOIC, I believe they also portfolio a few loans, but I have no idea how many they can handle.

Someone mentioned FHA as an answer, but remember that you can only have 1 FHA mortgage which I believe they want the property to be owner occupied, (mortgage brokers please feel free to correct me on that) and there has been mention in the press that FHA will be tightening soon.

I hope that answers your question.

Please keep me in mind in your search for properties, I specialize in real estate investments.
... more
0 votes 7 answers Share Flag
Search Advice