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Financing in 33351 : Real Estate Advice

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  • Local Info1
  • Home Buying1
  • Home Selling3
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Activity 66
Wed Apr 3, 2013
Angela Schrager answered:
Brandon - this is what is known as a Conventional Mortgage, where the buyer puts down 20% of the purchase price and finances the remaining 80%. Example: House costs $300,000. Buyer finances $240,000, so the mortgage will be for $240,000 and then comes up with the remaining $60,000 themselves.

Holders who finance with this form of mortgage do not have to pay PMI (private mortgage insurance) which is required by lenders where the borrower puts down less than 20%. This can save you about $270/month on these kind of numbers. A conventional mortgage borrower is often seen as more a more attractive prospective buyer to a Seller too.

Hope this helped! If I can help in any other way, or to help you find a property, just let me know,

Best regards,

Angela
Villa G Realty, Inc.
Tel: 954-816-7996
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0 votes 5 answers Share Flag
Wed Mar 20, 2013
Fred Glick answered:
Conventional, FHA, VA, USDA, Jumbo. Too much detail to describe differences but as of April 1, you must have 640 credit scores and a 43% debt ratio for automated underwriting.

There are no stated loans anymore and you usually need 2 years of tax returns if you are self employed that are averaged on the net. Also, all the money must be in the bank for at least 3 months.

Contact a mortgage broker to discuss your situation.
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Wed Mar 13, 2013
Barbara Easton-Irvin answered:
I assume that you are talking about your loan. You are paying back whatever you took the loan out for plus interest.
0 votes 3 answers Share Flag
Mon Mar 11, 2013
marc jablon answered:
To get the answers to these questions, call a mortgage banker that realtors rely on. Call Preston Ware at 561-329-0075. Or go to http://www.PrestonWare.com

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
... more
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Mon Mar 11, 2013
marc jablon answered:
The best person to ask is a mortgage banker that realtors rely on. Call Preston Ware at 561-329-0075 or go to http://www.PrestonWare.com


Marc Jablon, the Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
... more
0 votes 2 answers Share Flag
Sun Nov 20, 2016
Keith Jean-Pierre answered:
If the appraisal comes back high enough it is a possibility. You would need to draw up the contract with the option to have xx amount of closing costs covered. If the home does not appraise for the value of the purchase price plus the closing cost credit, you will get only what the appraisal was for. So for example purchase price of $250,000 + $5,000 closing costs but only appraises for $252,000, you will only get $2,000 toward closing costs. ... more
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Sat Mar 23, 2013
Ray Wright answered:
What is up with all the Am Favur posts? I've flagged her numerous times on different posts. Geez!
0 votes 3 answers Share Flag
Wed Mar 20, 2013
Tim Moore answered:
Correcting it can be the most frustrating thing you will ever deal with I am told (no 1st hand knowledge here thank goodness). Letters to the credit companies might help, getting the incorrect party to correct it to the credit company is a cure. It won't be quick or easy. Good luck. ... more
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Tue Mar 19, 2013
Stephen McRory answered:
-
After reviewing programs below, please call me to go over loan options.

1) 100% LTV- VA - pay off debt at closing on a purchases too!
2) 100% LTV- USDA - 12 mo. into Chapter 13 BK…OK Too!
3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property

------------STATED INCOME ALT Loan programs-------------
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX n’ FLIP Invest. Prop. – No min. credit!
13) 75% LTV-to Mega Jumbo
14) 75% LTV- Foreign Nationals-to Super Jumbo
15) 75% CLTV-after Short Sale, BK, Foreclosure to Super Jumbo
16) 70% LTV- Hard Money to Jumbo
17) Lot Loans / Land Loans Too!

Go to: WWW.PRO-OPTION-COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
WWW.PRO-OPTION.COM
Ph: 888 662 4404
#204296

Prior Service U.S. Marine Corps
====
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Sat Feb 16, 2013
Kevin Cloutier answered:
Because people do nasty things that don't come to light until a Titke search is completed. Like sell the property to someone else, pledge it as security for loans etc.

Where do these questions come from? ... more
0 votes 2 answers Share Flag
Sat Feb 9, 2013
Meir Aloni answered:
Well, that depends....one issue (out of couple of possibilities) will be how fast will your employer will react to the lender' request for documents from the employer...

With enthusiasm,

Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220 http://www.WeSellBroward.com

All Star Realty Inc.
... more
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Thu Jan 31, 2013
Maria Cipollone answered:
Yes. When you have at least 25 percent equity in your property is possible. Some mortgage broker they built the closing cost into the new loan amount and the borrower will not have to come out with that money at front.

Best of Luck,

Maria Cipollone

Century 21 Tenace

www.Flahomespecialist.com
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Mon Jan 14, 2013
Patricia Salerno answered:
Ask for detailed list of closing cost and pre-pay fees.
0 votes 4 answers Share Flag
Sat Jan 12, 2013
Robert Zeoli answered:
Hello,

A partition sale or lawsuit can be a complicated matter and you should seek legal representation if you haven't done so already. I don't think your question can be answered properly without providing more details on your situation.

Is the lender preventing the sale?
Is there enough equity in the home to pay back the lender once sale is complete?

Maybe someone can advise you better if more information was provided. I would definitely speak to an attorney specializing in this area to guide you.
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0 votes 1 answer Share Flag
Tue Dec 18, 2012
Julie Rosenthal answered:
I strongly recommend you ask an attorney and an accountant to advise you on your best plan before you make a decision. See all listed properties and get free valuable information at
www. BUY-SELL-RENT-FLORIDA.com Call Your "go-to" Florida Realtor
Julie Rosenthal (561)827-6789
julier6789@gmail.com
PROPERTY BROKERS INTERNATIONAL
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0 votes 5 answers Share Flag
Tue Dec 18, 2012
Tamika Moses answered:
Hello ,

In this market you will NEED a DOWNPAYMENT. You should see if you qualify for FHA financing which is a low downpayment of 3.5% of the purchase price. If you need a loan officer I can direct you to one who can qualify you.


Thank you,
Tamika Moses
Keller Williams Realty Partners SW
954-404-4646
tmrealtor@yahoo.com
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0 votes 11 answers Share Flag
Tue Dec 18, 2012
Meir Aloni answered:
The local tax authorities will action off the debt....

Meir Aloni & Team

CRS (Certified Residential Specialist)

CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!

Direct phone# 954-338-5220 http://www.WeSellBroward.com

All Star Realty Inc.
... more
0 votes 7 answers Share Flag
Thu Nov 22, 2012
Lynne Knapp answered:
Hi Fort Lauderdale,

Per your question on Trulia > Is it common for mortgage brokers to get a "finder's fee"?

Contact me 'Lynne Knapp' (954) 647-5335 Cellular, or email me the best number and time to call you to chat!

Lynne Knapp, Realtor
ReMax Consultants Realty 1
Ft Lauderdale FL
LynneKnapp@aol.com
http://LynneKnapp.com
http://LynneKnapp.ReMax.com
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0 votes 6 answers Share Flag
Tue Sep 25, 2012
Ron Thomas answered:
Interest Rates have been REGULATED since the '80's;
so you can be assured that any and every Lender will try to get the maximum Interest Rate that they car:
Their's is not an altruistic business; never will be.

It would be in your best interest to get at least two quotes:
It doesn't hurt your Credit Score to make a couple Mortgage applications.
Be sure to get your GFE from each, so that you can compare; do not let them give you an excuse; Federal Law requires them to give you a GFE (Good Faith Estimate).

Good luck and may God bless
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