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Financing in 19131 : Real Estate Advice

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  • Local Info0
  • Home Buying24
  • Home Selling7
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Activity 161
Thu Oct 20, 2011
Michael Garden answered:
This is the best 203K lender working the city:

Mike McKeown
Senior Loan Officer
Allied Mortgage Group, Inc.
Phone: 609-206-1973
Fax: 202-521-9316
mike.mckeown@mindspring.com


I've been down that road too but Mike will explain the process to you in greater detail. When you are ready, I would be happy to work with you to find the right property. Feel free to contact me: mg@michaelgarden.com

Best,

Michael Garden
215 500 2981
... more
0 votes 9 answers Share Flag
Mon Jan 9, 2012
Tim Moore answered:
I would think you have to qualify for FHA before you can purchase the house. Maybe you mean how long after you make the application and that is about 45-60 days under normal situations. Delaying getting materials the lender asks for makes it take longer. Yes, 2 non married people can get an FHA. Speak to a lender to get better answers with your situation. ... more
0 votes 15 answers Share Flag
Mon Oct 24, 2011
Dean Bendall answered:
Absolutely! I am typing the required 25 characters required to meet the Truila minmum.
0 votes 10 answers Share Flag
Mon Oct 24, 2011
Charles Balducci answered:
Hi George,

No, not a straight FHA. The home must be fully functional.

So perhaps an FHA-203k streamlined package would be approved, where the alteration includes a sink in the bathroom.

FHA is trying to protect the consumer and the people who back their loans.

Charles Balducci 215.531.2000
Coldwell Banker Preferred
... more
0 votes 10 answers Share Flag
Tue Aug 23, 2011
Shane Milne answered:
If the 2nd mortgage was taken out more than 12 months ago, then refinancing and paying both mortgages off would be considered a "rate & term" refinance instead of a "cash-out" refinance, and to my knowledge, it should be OK for an FHA 203k streamline (I am not an expert on the 203k version of FHA, but the regular 203b & 234c versions of FHA would view it that way, and I don't see where it says a 203k refinance transaction would be treated differently). If it was obtained within 12 months, then paying it off would be considered a "cash-out" refinance and that would be limited to 85% LTV. I'll see if I can get an FHA 203k expert here for you. ... more
0 votes 1 answer Share Flag
Sun Apr 8, 2012
Ron Thomas answered:
I would consider a very good idea:

there are basically two downfalls;
It will take a very long time to do, possibly a year or more, and
It will stress you out teriffically.

If you have the patience of Job, call a Buyer's Agent and talk to him/her about it. ... more
0 votes 12 answers Share Flag
Thu Jun 9, 2011
Sally Grenier answered:
Closing costs can run anywhere from 2%-3% of purchase price, depending on your loan fees, title insurance, pre-paid items for taxes & insurance, etc. BUT, you can often get the seller to pay all or part of your closing costs. This is why you need a Realtor working for you as a Buyer's Agent. He/she will handle all of the negotiations for you. Having a buyer's agent doesn't cost you anything, as their commission is typically paid by the seller. If you need the name of someone in your area, let me know. Good luck! ... more
0 votes 2 answers Share Flag
Fri May 31, 2013
Phong Lam answered:
Hi Lorri,

How are you? Thank you for your inquiry. We have a direct lender that we use that does 203K FHA loans. And there is this one Senior Loan officer that is especially specialized in 203K loans. Here's his contact info:

Joseph K. Keller
Allied Mortgage Group
1033-A Mill Creek Drive
Feasterville, PA 19053
Mobile: (215) 817-9084
Office: (215) 355-5626
Fax: (215) 554-6970
Email: jkeller@alliedmg.com

If you have any questions, please feel free to email me at Phong.Lam@c21ag.com or call me at (267) 918-1880.

Hope that helps!

***** If you like the answer - please consider giving it a Thumbs-up & making it a "Best Answer" ! Thank you! *****

Best Regards,
Phong Lam, CSM
REALTOR®
CENTURY 21 Advantage Gold
2010 Oregon Avenue
Philadelphia, PA 19145
Business: (215) 465-1400, ext. 508
Fax: (215) 336-7793
Mobile: (267) 918-1880
Email: Phong.Lam@c21ag.com http://www.c21ag.com
Professional Profile & Testimonials: http://www.linkedin.com/in/PhongDucLam
To connect with me: http://www.retaggr.com/AddMe/PhongDucLam
Buyers' Info: http://www.facebook.com/TriCountyPhiladelphiaHomebuyers
Sellers' Info: http://www.facebook.com/TriCountyPhiladelphiaHomeSellers

Century 21 Advantage Gold Top 21 Percent Award for 2009!
A referral from you would be the biggest compliment you could give me!
If you're interested, please ask me for your FREE Local Market Report for home values in your area!
... more
0 votes 13 answers Share Flag
Thu Apr 14, 2011
Julie Hankins answered:
Benjamin,

I know a couple different lenders that you can connect with that may be able to help you.
Call me at 267-528-0145.
0 votes 5 answers Share Flag
Wed Apr 13, 2011
The_wza asked:
0 votes 0 Answers Share Flag
Tue Mar 29, 2011
Bruce Lang answered:
try st edmonds, td bank, valley green bank and any west philly community banks....depending onthe type of housing you may qualify for a loan from HUD
0 votes 1 answer Share Flag
Sun Aug 30, 2015
Community Mortgage Officer answered:
Yes.....I'm a loan officer with Citizens Bank and we do VA mortgages. Please contact me when you ready to start the process.
0 votes 8 answers Share Flag
Mon Mar 14, 2011
Hannah Angert answered:
Hi Bruce,

Jien Fung at Mercury can refer you to a selection of Indonesian-speakers in the business. I have a few lenders' names at my office, too. Email me and I'll get back to you with them.

Hannah Angert, Realtor®
PA License RS-295442

Cell 215.869.9571
Office 215.271.3000
Fax 215.271.0988

William Festa Realty
3001 S. Sydenham St.
Philadelphia, PA 19145

hannahangert@comcast.net
... more
0 votes 1 answer Share Flag
Sat Jul 9, 2016
Dan Tabit answered:
Andrea,
There is no reason to sign up for one of those companies. First, you are entitled to a free copy of your credit report every year. If you are trying to track your score as it changes, you can do one every 4 months and get a sense of the changes, although each will vary from the start.
As a lender I've met with clients early in the process and assisted them in getting their credit issues resolved. In general it starts by creating a budget so you can track your expenses. A copy of your report will allow you to determine if there are errors you can correct and which accounts to focus on paying down.
Speak to a local mortgage lender and see if you can find someone willing to help. Best of luck.
... more
0 votes 17 answers Share Flag
Sat Dec 3, 2011
Kevin Tran answered:
Yes, I'm pretyy sure there're stil hard money lenders out there but the last 2.5 yrs, I haven't use any of them. Very tough criteria, high interest (@ 12%- 20%), and often charges at least 3-5 points. My best advivices is to fix your credit and hopefully within 12 - 24 months, you should be able to go regular route. You don't have to pay them off, just make payment arrangement with them and pay it on time for at least 12 months....then you should be ok. Hope this help. Pls call or email me for any additional questions. 215-816 2054 "Kevindtran123@Yahoo.com". Thank you. Kevin ... more
0 votes 5 answers Share Flag
Wed Dec 29, 2010
Alan Openshaw answered:
Hello Bruce,

I believe TD Bank will do in LLC They also charge the same for investment as owner occ.
If you have no luck there give me a call.

Best Regards,
Alan Openshaw
Cornerstone Lending Inc
720 Second St Pike Suite 104
Southampton Pa 18966
Office 215 953 0800
Fax 215 953 1706
Cell 267 992 7276
Voted Best of Bucks 2010
... more
0 votes 0 Answers Share Flag
Tue Jan 3, 2012
Dallas Texas answered:
You need to contact a mortgage broker and submit a loan application APPLY for a loan with cash out options.

OR contact a local bank (small not national) if they would allow you borrow against your home.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 7 answers Share Flag
Mon Feb 7, 2011
Ed Fallon, MBA answered:
0 votes 18 answers Share Flag
Tue Nov 23, 2010
Lorri Paster answered:
Hi Elainech,

It sounds to me that you would qualify for a mortage, but if you'd be willing to speak with my financial loan officer she will be able to determine the answer quickly. Email me your pone number and/or email and I wll reach out to you tomorrow.

Best regards,
Lorri Paster
Weichert Realtors
267-240-5767
lpaster@weichert.com
... more
0 votes 13 answers Share Flag
Fri Nov 5, 2010
Matt Grace answered:
You can try a Lease purchase program. That is were you sell your house to a investor and pay back it back in monthly rent installments. You have to be placed into a credit and budget program to help you out. Then once you are back on your feet you can repurchase the house back off the investor. If interested I may have a program that may be interested in helping you. However 8 months of back morgage is a lot to overcome. Good luck. ... more
0 votes 2 answers Share Flag
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