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Financing in 33109 : Real Estate Advice

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Activity 21
Tue Aug 2, 2016
Wenceslao Fernandez Jr answered:
It would help if you could specify whether this is for a single family home or condo. Either way...I'd like to see what responses you get from mortgage professionals. Even with 800+ credit scores, this may be a little tough, depending on how "super" much will the "super jumbo mortgage" be for. ... more
0 votes 22 answers Share Flag
Wed Jan 15, 2014
Steve Vinson answered:
With that score you can get one all day long
0 votes 17 answers Share Flag
Tue Jan 8, 2013
Jim Simms answered:
It sounds terribly wrong to me; we would require those comps to be used. The appraisal was ordered by the lender, I would question the lender in writing, an email for speed, followed up by a registered letter containing a copy of the email just to let them know you are serious. Hope this helps. Good luck,

I create my own problems:
http://www.trulia.com/blog/jimsimms/2011/11/i_cause_my_own_problems

Info on Lease Option or Rent to Own:
http://www.trulia.com/blog/jimsimms/2011/11/rent_option_or_rent_to_own
http://www.trulia.com/blog/jimsimms/2011/11/rent_to_own_continued

Criminal Credit Repair:
http://www.trulia.com/blog/jimsimms/2011/10/credit_repair_can_be_a_crime

Down Payment Assistance in KY:
http://www.trulia.com/blog/jimsimms/2011/03/down_payment_assistance_alive_and_well_in_kentucky
... more
0 votes 8 answers Share Flag
Tue Jan 8, 2013
Alistair Barrett-Powell answered:
Geraldine,

Without seeing the full appraisal and comparables used, I can't see whether or not this is a "fair" appraisal.

You can suggest that the appraiser revises his opinion based upon actual facts from your zip code and you can speak to your bank and say no this guy wasn't the right person to do the valuation.

My suggestion is to try getting the appraiser to revise amount and if not pay for your own appraisal and submit it to the bank to show the huge discrepancy.

At least they'll pay notice to it and you might get it revised.

Alternatively, speak to another bank and move! :)

Hope this helps. Sorry I can't resolve your issue entirely......

Alistair Powell
ONE Sotheby's International Realty
305.815.0880
alistair.powell@sothebysrealty.com
... more
0 votes 9 answers Share Flag
Tue Jun 28, 2011
Danielle Sharp answered:
Try another lender. Most lenders have the same general programs but guidelines (also called overlays) will differ. If this is a home you really want it might work out with a different company.

Best of luck!
... more
0 votes 5 answers Share Flag
Fri Nov 18, 2011
Tim Moore answered:
I would guess there are many mortgages in Florida. If you buy a house or condo and borrow money - that is a mortgage.
0 votes 4 answers Share Flag
Mon Feb 7, 2011
Scott Eric Klein, P.A. answered:
Wed Dec 12, 2012
Dallas Texas answered:
Best go direct to mortgage broker who can answer all your questions . Many more answer are required virtual opinion is not to your best interest.

You can also inquire for a loan from a bank you are a citizen in that country another option

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 6 answers Share Flag
Fri Dec 3, 2010
Sam Thompson answered:
If the issue is in regards to reduced equity in the home as a result of reduced property values and you have made your payments on time, you could possibly qualify for a refinance under the Home Affordable Refinance Program (HARP). To qualify, call your current loan servicer first and ask if your loan is serviced by Fannie Mae or Freddie Mac and if you would qualify for a refinance under HARP. ... more
0 votes 6 answers Share Flag
Fri Jul 6, 2012
Realestatemaximiliano answered:
call me I have a long list of seller finance deals 954-496-4922
0 votes 3 answers Share Flag
Sun Feb 20, 2011
Kdfiehjnkl answered:
there's a website that tells you if the landings are FHA approved. I believe that they are. http://activerain.com/blogsview/1703844/check-if-that-condo-is-fha-va-approved-
0 votes 1 answer Share Flag
Thu May 6, 2010
Mott Marvin Kornicki answered:
There are very few- if any banks that are willing to finance a condo-hotel. Some developers may consider seller or in-house financing. Private lenders are a better source. It seems like the condo-hotel concept has been harmed due to the difficulty in getting them mortgaged. ... more
0 votes 2 answers Share Flag
Sun Jan 31, 2010
Beth Jenkins answered:
Hi Silvia,
Thanks for asking your question on Trulia!
I believe the best route for you is th go to the largest bank in your countro see if there is a program for the foreign purchase of property. I am curretl saching for a lender that will finance client from Italy, so I would be gadonotify you if I find a progam.

Feel free to contact me with yo email adress so that can contact you if I find a lender that can do this.

Also tell me the criteria of the property you would like to purchase and I can send you some options.

It may be best to try to finance in a corporation, but a lender would have to determine the best route for your situation.

I look forward to assisting you,

Beth Jenkins
South Florida Broker
786-374-478
... more
0 votes 5 answers Share Flag
Sun Jun 14, 2009
Jason Diperstein answered:
Debbie,

An FHA loan will allow you to borrow up to 96.5% on a purchase, so your down payment can be as low as 3.5%. Any loan amount borrowed that's over 80% will require mortgage insurance, so be prepared for that extra expense.

As a side note, if you are a new home buyer the $8000 tax credit can be used towards your closing costs.

Good luck!

Kind regards,

Jason Diperstein
E Mortgage Management
800.793.9633 ext. 156
jdiperstein@emmloans.com
... more
0 votes 6 answers Share Flag
Wed Mar 4, 2015
Joshua Lerette answered:
I'm truly sorry to hear that Orlando! Have you tried to modify your loan to get favorable terms you can handle. I'm truly sorry to hear about your situation. Best of luck.
0 votes 4 answers Share Flag
Wed Sep 12, 2012
Robin Silverberg answered:
What the banks are looking for is for you to prove that you qualify not just to cover your payment with your income, but to have a debt-to-income ratio that is no more than 45%, most likely. That is a bit of a high number even. I do not know where your income is coming from. Are you employed somewhere that you get a regular pay check and will get a W-2? Or, are you self-employed and showing more income now? They will look to average your income for the last 2 years unless you have a great explanation of why you were not earning enough before. Are you behind on your payments now? Some people are advised to let themselves fall behind, but that is not the case. They do not want to see you behind on your payments, they just figure that you will still be behind so why should they do something for you. Also, has the value of your home dropped so that you now owe a lot more than it's worth? Do not pay anyone up-front to negotiate a loan modifacation, but there are some decent people out there who will look at what you have, and will let you know up-front if they can do something for you. They have contacts at the banks that you don't have if you call on your own, and sometimes get further than you do, so it is worth the money if they can get it done. ... more
0 votes 6 answers Share Flag
Wed Sep 9, 2009
Lindsey M. Bishop answered:
2) Q. How can I get a Condominium approved?
A. The guidelines for submission of Condos are set forth in HUD Handbook 4150.1 Rev-1, Chapter 11. Generally, the necessary documentation is submitted to HUD by a mortgage lender. Since most mortgage lenders are familiar with the information necessary for HUD to process the request, we strongly recommend that individuals, such as buyers and builders, use the services of a lender to make the submission. Copies of the handbook can be obtained from our Internet page at http://www.hudclips.org or may be ordered by calling (800) 767-7468. ... more
0 votes 3 answers Share Flag
Fri Mar 13, 2009
Tony Grech answered:
normally lenders will only modify a mortgage if it is owner occupied AND the owner demonstrates hardship.
0 votes 3 answers Share Flag
Wed Feb 25, 2009
Bill Eckler answered:
Sonia,

At this time, foreign nationals are being requested to provide a 30 to 40 percent deposit when applying for financing. Mortgages are available but with more upfront money involved. ... more
0 votes 2 answers Share Flag
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