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Financing in Vermont : Real Estate Advice

  • All28
  • Local Info4
  • Home Buying11
  • Home Selling6
  • Market Conditions2

Activity 14
Tue May 24, 2016
Shurt8436 asked:
I have won a bid for a mobile home located in Sc. Long story short the lender I was working with gave me the run around until close to closing. The FDIC took the company over and tried to…
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Fri Jun 21, 2013
Bev West answered:
I would be calling the Seller's Agent Broker and find out what is going on. If certain deadline dates are not met, you could be out of contract or the Seller is in default.
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Fri Jun 14, 2013
Marlene Bienes-Realtor answered:
Hello Buyer,

What does your buyer's agent say? Am a little concern that you are asking in this forum and not consulting your Realtor? If you have a loan contingency and you do not have a commitment from your lender it will be wised to consult your mortgage broker or the financial institution that is processing your loan in order to get a time frame. If you only have three days left on loan contingency it would be wise to extend this contingency to be safe. Your buyers agent should be advising you and monitoring all your contract contingencies. Your Realtor is there to protect your interest as your buyers agent.

Best of luck
... more
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Sat Jan 26, 2013
Dina Yando answered:
Dina Yando, Realtor
Cher Real Estate
New England Rentals By Owner

Hello Rich,
I would suggest checking into a credit union for financing. Hopefully you may only need about 20% down. Of course you would be renting the new condo you finance, but do think about the possibility of buying a condo that you could do vacation rentals with. Your rental monies are much higher and you may have more profitability because of it. You could even use it part time yourself. ... more
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Sat Aug 25, 2012
Ruth Kempsey answered:
Try Merchants Bank, the only bank to my understanding that does not sell their mortgages but keeps them right here in Vermont. My experience is that they go to all lengths to help Vermonters. ... more
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Wed Apr 11, 2012
Richard F Dayton asked:
I would like to purchase a home again, but did a short sale for an upside down mortgage in Florida. Now living in Vermont and would like to purchase! Is this possible or must I wait the…
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Fri Nov 11, 2011
Annette Levinson answered:
Tue Aug 16, 2011
Gordon W Miller answered:
Opportunities Credit Union is a place to start. Mortgage Brokers usually work with lender who sell the loans to the secondary market, which will not accept a mortgage backed by a manufactured home. ... more
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Tue Jul 19, 2011
Debra (Debbie) Rose answered:
Jane - so sorry about your job loss...........

The best person to have answer this question for you is.....your on mortgage him or her tomorrow!

Best wishes........... ... more
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Mon Feb 28, 2011
Otis Clay answered:
Hi Kelly,
Getting the pre-approval letter is a step in the right direction. As Chuck stated, be sure it's a pre-approval and not a pre-qualification. A pre-approval represents that the lender/broker actually took the time to have your information reviewed. I'm assuming that you've provided them with a thorough application, pay stubs, W2s, tax returns, etc. If so chances are they have a good idea where you stand and when you actually find the home you want the loan closing process will be that much easier.
As far as finding multiple lenders, my suggestion is to find someone to work with that you can feel comfortable with. Purchasing a home is possibly the biggest purchase you may make in your life. Find a Broker/Loan Officer or Lender you know will be around and can provide you a service that is more than transactional. Many homeowners refinance there home multiple times and each time they're working with someone different. Your home is your biggest asset and it would be a good idea to work with someone that will be there for you through more than just this transaction. Just as you have a primary care physician for yourself or a pediatrician for your child, you should have someone that can get to know you and help you make good decisions when it comes to managing your home. Don't just settle for any one. After all, you're the one spending the money. I hope this information helped and if you have additional questions feel free to contact me. Good luck and congratulations on your decision to purchase a home.
Warmest Regards,

Otis Clay
... more
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Mon Jan 24, 2011
John Conklin NMLS#275915 answered:
Yes you can feel free to contact me for further detail. There are other parameters that you will have to meet.
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Fri Dec 26, 2008
Scott Godzyk answered:
Your best bet is to meet with a local and trusted mortgage broker. stay away from the internet lenders.... a goo dloan officer can prequailify you at no cost and let you know if there are any programs you do qualify for based on your income, credit score and self employeed status. it is the only way to stop guessing and know for sure. good luck in your search ... more
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Tue Dec 2, 2008
Marty S answered:
I work with a federally chartered credit union, and I would love to help with your mortgage needs. Email me, and let's discuss!


I am On Line now! ... more
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