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Financing in Washington : Real Estate Advice

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  • Local Info39
  • Home Buying268
  • Home Selling29
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Activity 57
Thu Oct 13, 2016
Steve Tower answered:
Realize that they will always take the lowest of the applicants credit history into account. It may be a disadvantage to add someone.
You truly need to talk to a lender to see how to best proceed. They are very helpful in these types of situations and no obligation either. ... more
0 votes 1 answer Share Flag
Tue Aug 2, 2016
Markzjordanz answered:
No credit check, 1 percent interest 30 year fixed, 4.5 proof of funds in which u can use vet status or 401k, the property has to be appraised at 350 k and up. 30 day close, 8037576801
0 votes 4 answers Share Flag
Sat Jul 9, 2016
Tim Kochanski asked:
The building is no longer FHA approved (lapsed in March 2016), about 45% owner occupied now as board let some of the FHA buyers rent, were a few delinquencies but those were cleared up recently,…
0 votes 0 Answers Share Flag
Thu Jul 7, 2016
Rob1.4roc asked:
How long after signing a contract do you have to switch lenders?
0 votes 0 Answers Share Flag
Wed Feb 3, 2016
Amelia Robinette answered:
probably not - at least not at an interest rate that would be helpful.

work on your credit, when you're over 620ish you'll be eligible for better loan options. create a budget and stick to it, most households (even w/new babies, congrats BTW) can redirect about $12k/year to paying off debt or savings. i know it's expensive to live in DC and $95k may sound like a lot of money to a lot of people, but around here, it's livable, but doesn't allow for an extravagant lifestyle.

if you really buckle down, by the time your baby is walking you could be in great financial shape.

there are a few strategies here that might work for you
http://novahouseandhome.com/2016/01/05/saving-for-a-down-payment/
... more
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Thu Jan 14, 2016
maynardGkrebs answered:
Thu May 7, 2015
David West answered:
Hello Kindal of New Carrollton, MD,

My name is David West and I am a licensed real estate broker in Maryland so I am familiar with Maryland programs. This websit.e has a good list of programs for the state of Maryland http://www.mdhomeprograms.com/

Also another source I have personally used is NACA (www.naca.com). Feel free to reach out to me to discuss options at (202) 251-7056 or david.west@mosaicreal.com; I would be more than happy to help you in this process and share my personal experiences with using NACA, specifically.
... more
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Sat Nov 29, 2014
John Downs answered:
Hello Trina - that is a very interesting question to which you will get many different responses. The reality is one should look a little deeper at the delinquencies to see if there is a way to work around that issue. We have a variety of products that could work for a property like that as long as the loan is going to be owner occupied. If an investor loan, a larger down payment of say 25% would be required. Feel free to message me or call at 202.803.5505 to discuss your situation in more detail. I'm new on the social media sites however have been in the business for over 14 years now...my specialty the last five years has been working with tricky condo projects! Good luck!

JPDowns
... more
0 votes 1 answer Share Flag
Mon Nov 24, 2014
trina ali asked:
Hi I'm interested in a portfolio lender willing to provide a mortgage for a nonwarrantable condo in Washington D.C. My preference is a low down payment such as 5% or less as I was prepared…
0 votes 0 Answers Share Flag
Mon Jun 23, 2014
mark.ray answered:
Rabobank and I are closing these in 30 days or less I am happy to help
0 votes 4 answers Share Flag
Fri May 23, 2014
Bhaardt answered:
Yes we have 80/10/10 Avaliable, no 80/15/5 but can do 95% confirming up to $417,000.
90% NO PMI up to $625,500. We also do 85% NO PMI .
0 votes 6 answers Share Flag
Sat Apr 19, 2014
Morethanlending answered:
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Loan company approved by the Government, we give out international and
local loans to all countries in the world,Amount given out $2,500 to
$100,000,000 Dollars, Euro and Pounds.

We offer loans with a dependable guarantee to all of our clients. Our loan
interest rates are very low and affordable with a negotiable duration.

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Call.(646) 580-4839)
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Regards
Eric Jones.
... more
0 votes 6 answers Share Flag
Mon Jan 13, 2014
john.melvin answered:
Yes we can do this loan , would need more info call me John Melvin 410-961-5186 Banc Home Loans
0 votes 8 answers Share Flag
Sun Dec 29, 2013
Lanre Folayan answered:
Hello rfminc2,


How are you doing? Hope all is well. I know you asked this question over a year ago. However just wanted to let you know that many home buyers and sellers make their real estate decision based on how well the Real Estate Market is performing in their area. Here is the latest Columbia Heights/Mt.Pleasant Real Estate Market Report. If you have any questions,please don't hesitate to give me a call or text me at 202-378-0283. http://getdcsold.com/post/4272985/columbia-heights-mt-pleasant-dc-real-estate-market-report-nov-2013 ... more
0 votes 10 answers Share Flag
Mon Oct 14, 2013
Kevin Richards answered:
3.5% with, FHA for multi unit, you're also going to have to occupy one of those units. Too much cash flying around and chasing these deals, I know, I do several myself for, cash investors. Multi-family is one of the biggest selling sectors of residential/commercial RE. Stock market to high and volatile. Bond and money market have horrible returns. Investors are looking for return=IRR, so they've been going into multi-family for the last, two to three years. Institutional investors. Berkshire Hathaway (Warren Buffett) have already purchased over, $40M, in residential and multi-family units. Just make sure your, LO understands, IRR, Cash flows and can calculate how your loan, fees, etc.. calculate into the overall deal, based on your your anticipated holding period. These are the real numbers, along with some other numbers you throw into the mix to get your total operating income/expenses and your ability to figure out your investment performance. Doing the loan, sometimes hard, sometimes easy. Just b/c the property appraises, banks ok's the loan, doesn't mean it's a good deal. You can easily get a loan on a crap performing property, so make sure you run them numbers, my dawg! Happy Halloween!! ... more
0 votes 7 answers Share Flag
Fri Sep 27, 2013
Bola Williams answered:
Hi Joyce,

IF your credit score is a 780 you should have no problem obtaining financing for your mortgage, if the 780 is your Vantage score then I would suggest contacting Brent Mendelson, he's helped some of my client with challenged credit obtain financing.

You can find his trulia page here: http://www.trulia.com/profile/mdmortgage/

He's a good guy and very responsive.

Best of luck to you!

-Bola
... more
0 votes 6 answers Share Flag
Thu Jul 18, 2013
Miekeba Jones answered:
Hi Rita, it would have to be non FHA with a delinquency rate over 15%. I do have a list of condos that will be approved from a lender I know. Contact me and I will give it to you.
0 votes 12 answers Share Flag
Mon May 27, 2013
Miekeba Jones answered:
Hi MaeHamilton50. I know a lender that does the underwriting at first contact and the funds may need some proof. contact me miekeba@heymannrealty.com
0 votes 2 answers Share Flag
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