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Financing in 46208 : Real Estate Advice

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  • Home Buying1
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Activity 43
Wed Mar 27, 2013
Iyad Allis answered:
Hello. In addition to a good credit score, some other factors which lenders will take into consideration is LTV (Loan To Value) and DTI (Debt To Income). With a low income, currently, your DTI will likely be too high to qualify for another mortgage. To counter that, you would need a pretty big down payment.

Your best option, other than selling your existing home, is to rent a home for one year in IN and rent out your existing home. Make sure that you claim the property than as a rental on your following years tax return. At that point, you could counter that debt from your credit with the rental payment coming in and have a better chance of getting a mortgage for another home in IN or whereever you end up.

I hope this information will help you. If you have any other questions, I am more than happy to answer you if you would like to email me directly at

Good luck with your move.

Iyad Allis
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Sun Jul 7, 2013
Sathya Kattragadda answered:
Hello, how are you doing? I had a client in your same position recently and unfortunately, we were not able to get them financed. Unless you are a permanent resident, I don't believe you're able to get financing. If you have an H-1 visa, that would work though. If you have any other specific questions, feel free to contact me.

Mr. Katt
CENTURY 21 Scheetz
(317) 833-2000
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0 votes 7 answers Share Flag
Fri Jan 11, 2013
Chance Schubert answered:
They have to keep you informed as to why it is needing extended...
Is it the lender??? If it is the lender, I would highly recommend you move to a new lender after 6 months of waiting. Anything of 60 days after application is unacceptable...

If it's not the lender, then maybe it's the title company? Surely not though...
Who have you talked to about this issue?
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Wed Mar 27, 2013
Peter Knight answered:

I am not aware of that requirement, but keep in mind that the condo complex must be certified by HUD.

Peter Knight
0 votes 4 answers Share Flag
Tue Jul 16, 2013
Tom McCollister answered:
I have some contacts that may be able to help. Is your main goal to get a loan to consolidate some of the debt or working towards getting a loan approval for a home purchase? Send me an email and we can discuss more details.

Tom McCollister
Keller Williams Realty
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0 votes 2 answers Share Flag
Fri Nov 9, 2012
I lend in Indianapolis if you want to contact me at 800 315 8803.
0 votes 8 answers Share Flag
Tue Aug 28, 2012
Brett Martin answered:
Here are a couple of locals:

Local: Union Savings Bank, Raymond Hardie

Call: (317) 658-3505 or 843-1006


Flagstar Bank, Heather Meyer

Call: (888) 615-2800 x 232


I hope this helps you!

brett Martin
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0 votes 3 answers Share Flag
Mon Aug 6, 2012
Adam Catron answered:
If you have good job security, some bank statements and good credit you should be able to get financed. Contact Tony Hart at Tucker Mortgage 317-849-5050.
And for finding the right home I can make it easy and enjoyable.
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Thu May 31, 2012
Michael Weaver answered:
I would call Chris Minor for some mortgage advice. He is with Great Western. His number is:317.563.1122.
0 votes 15 answers Share Flag
Tue May 15, 2012
Michael Weaver answered:
I would ask your Realtor who is working on helping you purchase the duplex. They should be your first go to. Best of luck.
0 votes 2 answers Share Flag
Tue May 15, 2012
Robint asked:
I just opened a secured credit card with Capital One and one with First Premier Bank with low credit lines. How long will it take for me to get approved for a mortgage.
0 votes 0 Answers Share Flag
Thu May 10, 2012
Michael Weaver answered:
Mon Feb 27, 2012
Shannon Thomas answered:
It would have to be resolved but I would do it under the direction of your lender and get exactly what they need to be able to do a loan. I have seen loans done as soon as items were paid. It depends on the lender and what kind of bill. Let me know if I can be of service. ... more
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Mon Dec 28, 2015
David Mennen answered:
Hi Ellyn - Yes you can. I am a mortgage broker and work with serveral VA lenders... Most of the loans that we do are government loans... Please call/txt me at 765-714-8894. Thanks, David Mennen - Tippecanoe Mortgage. ... more
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Wed Nov 16, 2011
Michael Weaver answered:
Tue Jul 12, 2011
Shane Milne answered:
Without any income verification, probably looking at fairly high rates from a private or hard money lender. I'd start with local real estate investing groups. ex.

Do you have rental income? I can't imagine qualifying for a lower loan amount would take much income to do. You would have to figure in your primary housing expenses though.
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Tue Apr 5, 2011
Carl Henker answered:
The max LTV on an investment property is 80 % due to the fact that MI (Mortgage Insurance) is unavailable for investment properties. Currently you will find most lenders limit the loan to an LTV of 75% on an investment property rate and term refinance and cash out loans. You should check with local community or regional banks and credit unions for one that hold their loans as portfolio products. They may have the ability to provide an 80% LTV. Good Luck ... more
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Tue Mar 1, 2011
Otis Clay answered:
Hi Jenn,
Currently guidelines for FHA require a 640 credit score. There may still be a few lenders claiming to do 620 scores but I'm not confident in them. My recommendation is to have your credit reviewed to see if there are items you can adjust to maximize your abilities to increase your score to the minimum requirement. The process could be less than $15. If your credit score is the only issue you could be on your way obtaining financing in no time. If you'd like more information regardng programs available to assist you please feel free to contact me.

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Tue Dec 21, 2010
Kimberly R. Walsh answered:
Tammi, the first time home buyer tax credit expired in April of this year. In order to get the credit you had to purchase a home prior to April 30 and close on the home no later than June 30. The credit would then be issued to you by the federal government. Currently, there is no first time home buyer tax credit in place. ... more
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Sat Oct 23, 2010
David Cassidy answered:
Call me David at 317-538-7790, I can get you connected with a very good mortgage professional and possibly get you into a new home.
0 votes 4 answers Share Flag
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