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Home Buying in Waterford : Real Estate Advice

  • All100
  • Local Info7
  • Home Buying37
  • Home Selling4
  • Market Conditions2

Activity 46
Tue Aug 22, 2017
Kathy Burgreen answered:
Lenders will verify your bank statements - at the time you request a pre approval, at the time you submit an application for a mortgage loan and finally the day before or the day of you close on a home. If you receive a large cash transfer (deposit) your lender will question it and will ask for proof. You need to understand from the lender's viewpoint, they don't want to accept buyers who deposit large cash amounts which COULD be from illegal activity - drug dealers, fraud, etc. This may not apply to you but this is how lenders think. As long as you can provide proof where the cash deposit came from - your 100% safe. Criminals don't have paperwork to provide proof. ... more
1 vote 1 answer Share Flag
Thu Apr 20, 2017
Gwenshin answered:
Do you have to pay mortgage insurance monthly with the MSHDA loan? I heard that you do not, then another source says you still have to pay a PMI. Im confused now.
0 votes 6 answers Share Flag
Thu Jan 28, 2016
Tammy Hergarden answered:
We are no home buyer in New York.
0 votes 1 answer Share Flag
Fri May 8, 2015
Robert Torrey answered:
I think it is better to work on your score. You want to get up to at least a 620.Talk to a experienced lender they can help guide you in the right direction.
0 votes 8 answers Share Flag
Fri May 8, 2015
Robert Torrey answered:
The sooner the better. As soon as you find a agent you want to work with. They can recommend you to a proven and trusted lender for your pre approval. It benefits the buyers greatly when their agent and lender have a strong relationship together. I hope this helps. ... more
0 votes 3 answers Share Flag
Sat Nov 22, 2014
Robert Torrey answered:
You do have to wait two years before you can get a mortgage. The good thing is it gives you time to build a solid credit profile.
0 votes 7 answers Share Flag
Sat Nov 22, 2014
Robert Torrey answered:
As a consumer you always have the right to interview agents and choose the one you feel most comfortable with. Read reviews online and also ask friends and families for a recommendation.


Best Regards,

Robert Torrey
... more
0 votes 3 answers Share Flag
Sat Sep 13, 2014
Simon Campbell answered:
To qualify for a traditional loan, you are going to need a minimum credit score in the 620 - 640 range though most require 680. Accordingly, in April, Wells Fargo & Co., the biggest U.S. home lender, cut its minimum credit score for borrowers of Fannie Mae and Freddie Mac-backed loans from 660 to 620.

Additionally, lenders are going to look at your debt to income ratio even more than they will look at your credit score. As a general guideline, your monthly mortgage payment, including principal, interest, real estate taxes and homeowners insurance, should not exceed 33 percent of your gross monthly income. Your total monthly debt obligation should not exceed 40 percent of your gross income. Total dept includes housing expenses, car loans, child support and alimony, credit card bills, student loans and homeowner association fees.

This will help you to gauge your finances and the amount of mortgage that you can afford. But the best answer you can receive is to go down to some of your local banks and see if you can qualify for a loan and for how much.
... more
0 votes 1 answer Share Flag
Wed Jul 16, 2014
Robert Torrey answered:
Here is a link that should help you.

www.rurdev.usda.gov/mi/


Hope this helps,
Robert Torrey
Keller Williams
0 votes 1 answer Share Flag
Fri Jan 31, 2014
Andy Hargreaves answered:
Even if the lender wanted to schedule, the title company likely won't let you until the file is clear to close.
You'll want to make sure this is the case to prevent any re-draw fees for your paperwork if it's scheduled for a day and then doesn't close. ... more
0 votes 4 answers Share Flag
Mon Oct 28, 2013
answered:
Yes it is possible. The guidelines and requirements are a little bit trickier than the normal transaction, but there are options available. You need to be able to legally reside here and still need to demonstrate income and the ability to support the monthly payment

Feel free to give me a call and we can take a look to see if you'd be able to qualify.


Tony

Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842

tony.grech@pmac.com
... more
0 votes 1 answer Share Flag
Mon Sep 9, 2013
Wallace Radge answered:
Doesn't really matter where the agent is located. Find someone you are comfortable with.
0 votes 6 answers Share Flag
Tue Aug 13, 2013
Darrell Hudiburgh answered:
Feel free to email me or call me and I can work to help you . As a Veteran myself, I thank you both for the sacrifice and commitment that you have made.
0 votes 2 answers Share Flag
Wed Aug 7, 2013
Jillian Muldoon answered:
Hi Cat,

Please give me a call, 248-701-1677, or email me at jillmuldoonhomes@gmail.com with your contact info.. I can help do some research to find out what is going on with the house and when it might be listed. There are ways of finding out that information. Also I can help with contacting the owner on record if it is privately owned to see if they would possibly be interested in selling it. I am a local expert in the Waterford market and would love to help you! Look forward to hearing from you soon! :)

Jill Muldoon
Re/Max Royal
jillmuldoonhomes@gmail.com
www.jillmuldoon.com
... more
0 votes 3 answers Share Flag
Thu Jun 6, 2013
Darrell Hudiburgh answered:
JAckie,
As the others stated It is not binding until signed by both parties. Lay men terms. Once counter offer was made it voided your original offer. So process has to start over again on offers ... more
0 votes 7 answers Share Flag
Sun Apr 7, 2013
Pam Bava answered:
You can go to the city offices and check that
0 votes 1 answer Share Flag
Sun Mar 17, 2013
Russ Ravary answered:
I honestly don't know if each condo has a water softener. But if the city recommends it I would get a water softener. Who knows the condo may have one. Best way to learn about the noise is ask neighbors or go by the condo at different times of the day. Best answers come from the neighbors ... more
0 votes 4 answers Share Flag
Sat Mar 9, 2013
Russ Ravary answered:
I think you email me personally a while back. Home prices are rising. Dramatically in some areas. Waterford home prices are creeping up and I believe the will have a significant jump this year. I think the best deals will be this year. Next year prices will be higher. ... more
0 votes 14 answers Share Flag
Sat Mar 9, 2013
Russ Ravary answered:
I would take your tax returns to a lender and see what they make of them. You may have to stop doing that for 2 years in order to get a loan. But the best place to see what to do is with a lender ... more
0 votes 7 answers Share Flag
Sat Mar 9, 2013
Russ Ravary answered:
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