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Price Rent Ratio All Locations : Nationwide Real Estate Advice

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  • Home Selling45K
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Showing results for Price Rent Ratio [Clear search]
Wed Jan 30, 2013
Leigh-Jo Anzures answered:
Hi Melinda,

Get in touch with me so that we can privately discuss all your options and work on ways to improve your credit.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
0 votes 7 answers Share Flag
Mon Dec 10, 2012
Thom Butts, CRS, ABR answered:
As long as one of the units is owner occupied, that would be fine for FHA financing. Small-plex complexes can be a great way to build equity! I'm pretty familiar with the Gresham area (and own a tri-plex myself); if your son needs the assistance of a realtor, please have him contact me.
-Thom
... more
0 votes 3 answers Share Flag
Thu Dec 6, 2012
Johnathan O'Gorman answered:
It really depends on the loan program you choose. Different loan programs require different amounts of funds to be unused after you pay your bills. It is all based on your debt (monthly bills including your house payment) to income ratio. ... more
0 votes 4 answers Share Flag
Thu Dec 6, 2012
Ron Thomas answered:
Back in the "dark ages", it was a lot easier to do this; Lenders would help you with Loans that had a CONTINGENCY FOR SALE, or "Bridge Loans", which bridged the gap between the sales.

In this new Market, the best you can hope for is good timing:
But the odds of that happening are remote, at best, and could be disasterous for you.
My recommendation would be to resign yourself to the situation, get a Storage Unit for most of your belongings, and plan on renting for a few months.
You will have to move twice, but the benefits and stress will far outweigh the consequences.

Good luck and may God bless
... more
0 votes 10 answers Share Flag
Mon Dec 17, 2012
Persis Behramsha answered:
Hello,
If you have looked online, you may have an idea of the many homes that are available in the market. However, in order to help, I would first like to find out if you want to rent or buy.

There are a number of homes available in and around Cypress and depending on your specifics, we can search for what is best suitable for you.

If you are buying a home for the first time, I can give you an overview of what this process is all about, how to get started and what steps to take to continue. One of them would be to find out how much loan you will get approved for, and of course, what your budget is.

If you are interested in renting, there are specific questions too that will help narrow the search to what you need. Landlords are specific about certain things so that would need to be screened.

Persis
713-294-7747
persis.realtor@gmail.com
... more
0 votes 18 answers Share Flag
Wed Feb 20, 2013
Morgan Campbell answered:
Hello Stephanie! I would love to help you pre-qualify for a mortgage. I will contact my underwriting team and see if there is anyway that we can work around this road block! Which loan program are you interested in applying for?

Morgan Campbell
Mortgage Banker
NMLS#957183
Envoy Mortgage, Ltd.
229-563-5903
... more
0 votes 18 answers Share Flag
Mon Aug 12, 2013
Susan Bo'ur answered:
I would suggest you speak with your lender to begin with.
If you need a lender I would be happy to recommend one.
Please feel free to contact me directly with any questions.
Best,
Susan Bo'ur
Realtor/Coldwe Banker
Susan@SusanBour.com
... more
0 votes 7 answers Share Flag
Fri Dec 28, 2012
Maria Cipollone answered:
Your best option will be get in touch with a mortgage broker, they have access to many banks, private lenders and many different programs. Choose one that can answer all your questions in the first meeting and give at least two financial options.

Best of Luck,

Maria Cipollone

Century 21 Tenace

www.Flahomesepcialist.com
... more
0 votes 11 answers Share Flag
Sat Dec 1, 2012
Marilyn Bell answered:
The best way is to see what rents are being charged for similiar properties. You can look in the classifieds, on craigslist or drive the area and check rent signs. If rate is not on the sign you can call, but be courteous to the landlord and don't take a lot of their time just to find out market rents. ... more
0 votes 6 answers Share Flag
Sun Jan 27, 2013
James & Stephanie Crawford answered:
Your current rent won't count, but your new mortgage payment will. As for debts, I believe you only count the ones that will take more than 6 months to pay off. But I'm not 100% sure about that. Any reputable mortgage broker will be able to easily calculate your debt to income ratio (for free). They will pull your credit and ask for your most recent paycheck stubs as well as your past two years of tax returns. ... more
0 votes 5 answers Share Flag
Tue Dec 4, 2012
Skye Creech answered:
I as well am looking to do the exact same thing in the coming months. I have been doing much research as I don't want to let me current home go. Putting 20% down would be best and I doubt the bank would deny you a loan. Or I would try to get the mortgage balance of your home now to $193,000 and still come with a down payment of 5%. Overall I would speak to your bank or lender, as they will know better than any agent. ... more
0 votes 6 answers Share Flag
Fri Nov 30, 2012
Laquita Baez answered:
Depending on income and a few other variables, you may qualify on your own s his credit is a bit low.
Important question, will you be transfering with your employment to GA?
In order to qualify for a loan in GA, i believe you will need to show a number of months of employment here unless transfering with your current employer or will be working in the same line of business.
I am not a mortgage lender, so you may want to contact a lender here in GA to see about your options.
I'd be more than happy to refer lenders to you.

Laquita Baez
Licensed Realtor in GA and NJ
Better Homes and Gardens Real Estate Metrobrokers
770.901.0956
findurhome@laquitabaez.com
www.LaquitaBaez.com
... more
0 votes 6 answers Share Flag
Wed Dec 5, 2012
Krystal Villarreal De'Newton answered:
Hello, next line I specialize in working with investors with very similar properties to what you're inquiring about. I am also a master certified negotiation expert. I would be happy to help you in anyway I can, but this is a lot of information to try to answer on Trulia. Please feel free to contact me via email at Brandon Newton at Gmail.com or call me directly at 713-890-9108. Thank you. ... more
0 votes 7 answers Share Flag
Wed May 21, 2014
Stephen Gold answered:
It really depends on your lender. Give me a call to strategize your out and discuss 8134203394 steve
0 votes 14 answers Share Flag
Wed Aug 6, 2014
Philip Cabral answered:
Hello again Nigel,

As I mentioned in one of your other questions I grew up in San Francisco and currently live in Santa Clara which is in Silicon Valley. I have rental properties in both areas so I know both areas very well.

At a budget of $700K you have some restrictions. Condo/Townhouse vs. single family residence? Do you want more of a suburban feel or are you interested more in the middle of the city? How much of a down payment do you have? If you have a large enough of a down payment there is the possibility that you can have a positive cash flow from the start. Are you looking for a certain size of home? How many bedrooms, baths, square footage, size of lot, backyard, etc? There are a lot of details that you need to fill in.

I can certainly help you or you can contact any one of a number of great realtors in the area.

Good luck!
... more
0 votes 10 answers Share Flag
Tue Dec 4, 2012
The United Home Team answered:
"MEETING YOUR NEEDS AND EXCEEDING YOUR DREAMS!"

As stated in the other posting credit typically does not present a problem with most landlords. That is unless you have a past history of eviction and things of that nature that would give the landlord the sence of future problems. Most of the time the majority of faults can be over looked with a larger deposit. In order for me to properly assist you I must ask at this time to contact me directly. I stand by waiting to get the full details of your situation.

Keller Williams Realty
3xUS Army Veteran
Joseph Fernandez
cell: (817)975-7258
off: (817)635-1157
website: http://www.blissful-estates.com
... more
0 votes 3 answers Share Flag
Tue Nov 20, 2012
CubbieFan answered:
We are looking to sell Primary Residence, and downsize. Current balance on it is $ 273,000, and we are looking to purchase a home with mortgage of $ 180,000 (Using the proceed from sale of the current home to use as down payment, est... about $ 80k)

Credit Union would only pre-approve us for $ 80,000 loan... short by about 100k...
... more
0 votes 4 answers Share Flag
Tue Nov 20, 2012
Mike Hill answered:
Iris, there are often classified ads in the Valdosta Daily Times for "lease to own" properties, but while I've seen exceptions, there are problems with the entire concept from both the owner and tenants side. The tenant often wants a lease/option because poor credit scores mean buying is out of reach. Owners will often turn to lease/options because they can't sell an over-priced property.

Some of those owners are savvy investors who'll charge more rent and a higher purchase price than the property is worth, so don't care whether you ever buy it or not, especially if you've made a cash deposit they'll get to keep, if you don't eventually buy. Many will also make you responsible for the repairs and maintenance as part of the lease/option agreement.

Usually, the only way rent-to-own or lease/options work for the tenant/buyer is for the tenant to nail down a specific price today and stay in the property long enough, even at over-priced rent, for the property to increase in value higher than the "own" or option price, while the tenant cleans up credit problems.

It's not always possible, of course, but the best position is to have the credit and income to get a mortgage for what you want, so you can offer the seller cash. Interest rates are so low right now (below 4% for owner occupied houses) that payments on a $100,000 mortgage (30 years) are less than $100,000.
... more
0 votes 7 answers Share Flag
Tue Nov 12, 2013
Suzanna Woodhead answered:
Yes commissions can be negotiated with the broker. You are wise to offer a higher commission.
0 votes 19 answers Share Flag
Wed Jan 29, 2014
Monica Neubauer answered:
That depends on several factors.

1. What is your tolerance for having two mortgages or for owning two houses at the same time?
2. How important is it to you to be settled when you move here? Since you do have that option.
3. What is it like in your home market? Do you feel you can make the house there a good option for buyers and sell it within a short period of time?

I suggest you discuss this with the agent who can help you here and with the agent you are working with in California to get their insights after having a conversation with more specific information.

I would be glad to discuss this further with you if want to give me a call.

Thanks,
Monica
615-568-8384
... more
0 votes 15 answers Share Flag
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