There really is no accurate average. There are a variety of factors that will go into determining an actual home owner's insurance premium. Some of those will include: the insurance company selected, your credit score, your previous claims history, property zip code, flood zone, age of roof, type of construction, location to near fire hydrant/fire station, age of home, etc.
If you are looking to purchase a property, working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your mortgage options. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com to get started.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.... more
If by "released" you meant "discharged", then if you have 12 months of re-established credit since the Ch 13 BK filing, and no delinquencies (late payments, collections, etc.) since, then with adequate credit scores (600 to 640 with most lenders) you should have a really good chance of qualifying for an FHA or USDA mortgage - right now. FHA mortgages just require 3.5% down, and USDA doesn't require any down payment.
USDA Rural Development financing is 100% financing (you can even finance costs into the loan up to the appraised value, if it appraises over the purchase price). The catch is you have to buy in an eligible area (which Wilmer is), and you can't make too much income, you can check both at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do - there are two income limits, the "Direct" limit is lower and enables you to apply directly with USDA, and the "Guaranteed" limit is higher and requires you to apply through a mortgage lender.... more
That sounds like a bad situation that hopefully can be remedied quickly. You should consult with a real estate attorney on this. It may depend on the HOA bylaws, about how an HOA board can be ousted and a new one put in place. But again, speak with an attorney who can better advise you on this - do so asap. HOA insolvency drives down property values, so it is important to maintain a healthy HOA.
Best of luck,
Keller Williams Realty... more
A minimum of 2 years from the discharge date on a Chapter 7 and for a Chapter 13 verification for a minimum of a 12 month period that all court ordered payments have been made on time. For Ch 13 you would also need a letter from the courts trustee allowing you to proceed with a mortgage in order to even start with your mortgage application.
In both cases you must have reestablished credit, have a solid work history and provide an explanation for the bankrupcy.
Just as a warning, if you have even one late since the bankrupcy, most underwriters will not approve you loan.