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Financing in Wyandotte County : Real Estate Advice

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  • Home Buying2
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Activity 8
Sblcbgconsult, Home Buyer in Kansas City, KS
Thu Jun 25, 2015
Sblcbgconsult answered:
John Samuel, Real Estate Pro in lenexa, KS
Sun Jul 21, 2013
John Samuel answered:
If this is for a home purchase, no. And most lenders in the area will not do less than 30k for a mortgage, and that needs at least a 630 score.
0 votes 2 answers Share Flag
Rudy McDowell, Real Estate Pro in Bloomfield Hills, MI
Tue Jul 3, 2012
Rudy McDowell answered:
No. If the home does not require it, you don't have to utlize the reno/repairs aspect of the Homepath.
0 votes 1 answer Share Flag
Dfrog, Home Buyer in Longmont, CO
Wed Jul 7, 2010
Dfrog asked:
loan now is adj. currently at 30 yrs.amort. at 3.67% It adjusts each yr. against LIBOR yr. 2.75% LIBOR. Option to reduce principle and have it reflected in payment amount. IL believe…
0 votes 0 Answers Share Flag
Scott Schroe…,  in Escondido, CA
Wed Apr 28, 2010
Scott Schroeder answered:
I used to own an insurance agency in another life, so let me weigh in on this. :)

The insurance replacement value is the amount that it should cost to rebuild your home and replace your things in today's market. In most cases, your insurance agent is going to try to keep this on the high side of estimates, so that in the event that there is a catastrophic event, you have enough money to be "made whole."

The realtors and mortgage companies are not looking at the value of your things, or the replacement cost of rebuilding the home. They are only looking at the sales price that homes similar to yours have brought over the last few months.

If you have other questions, please feel free to contact me. You could also contact your insurance agent and ask for a recalculation of the replacement cost. That could lower the cost of your homeowner's insurance in the event you want to make a change (which I don't think I would suggest as a rule).

scott@scott-schroeder.com
... more
0 votes 4 answers Share Flag
Jpt,  in Kansas City, MO
Thu Oct 1, 2009
Jpt answered:
I have been in the mortgage business for over 18 years and have worked for Brokers, Banks, Large Mortgage Companies, and now a Credit Union.

I can say without hesitation that from a consumers point of view, the credit union is the way to go.

They are member owned and therefore; rates and fees are some of the best you will find.

If you add a credit union to your list of lenders you are getting quotes from, you will be doing yourself a big favor because at the very least they will be a good barometer of the local market, and probably be the best deal.

Feel free to contact me if you want more info:

John Thompson, 816.820.4471
... more
0 votes 1 answer Share Flag
Jay Knorr,  in 36830
Tue Aug 11, 2009
Jay Knorr answered:
In the next year? Doubtful. However, if you have TWO years of excellent pay history (paying all your bills on time), you can apply for an FHA loan.
0 votes 1 answer Share Flag
Daniel Casta…, Real Estate Pro in Forest, VA
Thu Jun 4, 2009
Daniel Castagna answered:
Duane,

It all depends on the lender. Most places are around 45-60 days, but if you find the right place, you can get it closed in a couple of weeks. Our turn times are always fast because we have in-house underwriting. If things start getting a little backed up, the UWs have to put in the OT. ... more
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