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Financing in 14612 : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 8
Mon Nov 12, 2012
Michael Cheng answered:
You can probably qualify for a high leverage mortgage like an FHA loan. But, your main challenge will be in winning a home and still be able to cover any appraisal differences or get lucky that you don't have to bid that high. ... more
0 votes 12 answers Share Flag
Sun Feb 2, 2014
Mark Melich answered:
Do not feel bab about missing the tax credit, with interest rates below 4% you are much farther ahead than the receiving 8k credit. IE a $500 principal and interest payment when the credit was available would get you a $79,105 principal amount, at today's 4% rate the same $500 gets you $104,730. So you can see you now have $25,625 more purchasing power.
There are many different 1st time buyer programs and I can put you in touch with the experts.
... more
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Wed Apr 25, 2012
Anna M Brocco answered:
You can try Wells Fargo...
0 votes 3 answers Share Flag
Tue Sep 24, 2013
Mark Updegraff answered:
Typical banks don't want to lend on properties under 50K. Some will though. I think 75% LTV would be about the best you could hope for with no personal guarantee and that may be a stretch. ... more
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Mon Nov 12, 2012
Dallas Texas answered:
Only professional render an opinion is a mortgage broker who will review your loan application and financial statements and etc

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
... more
0 votes 8 answers Share Flag
Wed Sep 29, 2010
Michael Walker answered:
Hello Paul,

I work with an Austrailian Investor with whom I manage their properties as well as help them find and purchase their investment properties. He currently uses an international bank HSBC to finance his properties. It's convenient since I can then deposit the remainder of the rents collected into his account easily as we have many HSBC's in the area.

If you would like more information or a reference to a particular mortgage banker that I recommend ... please don't hesitate to contact me at
... more
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Wed May 6, 2009
Raymond E. Camp answered:
Good morning, Looking at the web site I would suggest contacting the bank you have the account set up with. good luck and happy house hunting. Thank you, Ray
0 votes 0 Answers Share Flag
Mon Mar 9, 2009
Leif Mermagen answered:
Hello Dan,
I think that the credit is to be only applied to a single family home, condo, or townhouse. I will be learning much more about the situation tomorrow, as I am attending a meeting on the subject. I will attach a quote from an email I recieved about the matter. This quote shows the criteria that must be met to recieve the credit.


1. To qualify, purchaser (and purchaser’s spouse) may not have owned a principal residence in the three years previous to purchase.

2. Maximum credit amount increased to $8,000 (or 10% of cost of home, whichever is less).

3. No repayment requirement – unless home is sold within three years, then credit recaptured on sale.

4. Eligible dates are January 1, 2009 – November 30, 2009 (program expires December 1, 2009).

5. Must be primary residence – can be single family, condo, co-op, townhouse.

6. Income limitations – full credit available with adjusted gross income of no more than $75,000 (individual)/$150,000 (joint); phase-out above those caps.

7. Can be claimed on:
 2008 Tax Return;
 An amended 2008 Tax Return; OR,
 2009 Tax Return.

This is what I know at the moment. As I said I will know a bit more tomorrow. If you would like feel free to give me a call or email me and I will help you figure it all out and get you into a home that works for you.

Talk to you soon,

Leif Mermagen
LSP for Nothnagle Realtors
... more
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