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Financing in 77043 : Real Estate Advice

  • All5
  • Local Info0
  • Home Buying2
  • Home Selling3
  • Market Conditions0

Activity 109
Tue Aug 14, 2012
Tim Moore answered:
Why would a renter have any rights to the property? Are you secretly selling it to them? I do not understand why they would have one tiny problem signing a document saying they have no rights to the property. They have their lease which has nothing to do with rights of ownership. ... more
0 votes 7 answers Share Flag
Mon Aug 6, 2012
Don Groff answered:
Honestly not very likely. While I do work with lenders who can get loans done for those with 580 credit scores you do not really want to do that. For one, most people in that range they cannot help. You need to fit into a very small box and with scores that low you probably do not fit.

What you need to do is get with a lender who will work with you and guide you. You need to first understand why your credit is where it is and if it is still getting worse or stagnant. You need to make sure you are moving your credit in the right direction. I have given tips in previous answers telling that you can set up secured credit cards or installment loans to help rebuild your credit scores.

It's time to work on that with somebody who will take the time so you can get your credit to a 640 or higher. Once you can actually get the same rate as somebody with a credit score that is 100 points higher. So take the time to get your credit moving in the right direction and then you can buy that house if everything else is in order. Right now you need to find somebody to work with you over the next 6 to 12 months to get you where you need to be.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Austin Listed | 360 Lending Group
o 512.669.5599 m 512.633.4157 |
... more
0 votes 3 answers Share Flag
Wed Oct 30, 2013
Marla Van Overbeke answered:
Under 50K may be hard money only. However I have a friend that may be interested as a cash buy for himself if the location is right. Can you send me the listing details.
Thank you,
... more
0 votes 4 answers Share Flag
Wed Jul 18, 2012
Al Geffon answered:
Cindy ...

This is a question you'd need to ask Pulte ... but I don't know of any lender that offers a traditional residential fixed-rate mortgage beyond 30 years. If your objective is to lower your monthly payment, there are several avenues available to you, but you'd be required to come up with additional cash.

You needn't finance your home through the builder, although they might be providing incentives to use them. You really need to check with several lenders to determine which situation is best for you.

Incidentally, are you represented by a Realtor? Home builders are simply sellers, and all the paperwork is geared to protect their interests. You need someone on your side to level the playing field.

If I can be of further service, please feel free to contact me. I wish you the best of luck.

Al Geffon
(713) 213-6350
... more
0 votes 4 answers Share Flag
Thu Jul 26, 2012
Ron Thomas answered:
Yes, I would say that you can; probably.

But this should really not be a crital point for you:

If you are paying CASH, you will be depositing the money in the Escrow Account anyway.
If you are Borrowing from a Bank and putting down a down payment, you will have to deposit that down payment anyway.
If you are going to be paying Closing Costs, you will have to deposit that money anyway.
Only if you are doing a no-down loan with no Closing costs, would you not have to deposit something.

The size of your DEPOSIT/EARNEST money determines the strength of your Offer; were you planning on backing-out of the deal in the mid-stream?
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0 votes 6 answers Share Flag
Fri Jun 15, 2012
Ray Wade, CRS answered:
As long as your credit and income can support a mortgage, yes, you should be able to do this. Keep in mind Texas is a community property state, so assets acquired after marriage are equally owned, even if only your name is on the title.

I'd be happy to help - my contact information is below.

Ray L. Wade, REALTOR®
SFR, CHMS, CNE, C.P.M., HUD Registered
Powell Real Estate

T: (832) 531-2011
F: (832) 200-1541
... more
0 votes 9 answers Share Flag
Thu Jun 21, 2012
Robert Martinez answered:
Fri Jul 3, 2015
Ron Thomas answered:
First of all; thanks for serving.

Have you gone in to your local VA office?
Have you gotten your Certificate of Eligibility?
The people at the VA office are there to help you; tell them I sent you.

The VA loan has several unique characteristics, (most good, some not so)
* No down payment
* Higher Interest Rate
* a little harder to qualify
* a little harder on the Seller

go talk to them; they can probably recommend a Lender too.
... more
0 votes 9 answers Share Flag
Sat May 19, 2012
John Eley answered:
No, I would not pay off the second rental because the cash flow (hopefully positive) should help your debt ratio. Plus, the monies that you use to pay it off could also hurt your debt ratio.

John, CEP
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0 votes 2 answers Share Flag
Sat Dec 17, 2016
Carolyn Wolfe answered:
Nothing is free in this world, but Legalzoom may have a form you can pay to download.
You may also find something at Office Depot, but be very careful.

Hopefully you are using a title company to document everything, this of course is not free either, but they have lawyers to draw up docs.

If I was selling my property with out a Realtor, I would want to get a Real Estate Attorney.

Realtors have access to these documents since we pay our dues and fees every year.

Good luck to you!
... more
0 votes 8 answers Share Flag
Fri May 11, 2012
Christy Hempel answered:
We would be happy to help. Just give me a call and we can go over your scenario and take a look at what would be the best plan of action for your needs. Look forward to hearing from you. ... more
0 votes 12 answers Share Flag
Mon May 14, 2012
Elias Anguiano answered:
As long as you don't own a home now or if you do you can buy a second home for personal use not closer that 50 miles apart. Make sure you check with your local lender.. Normally you don't qualify for an FHA purchase if you had owned a home in the last 3 years.. ... more
0 votes 6 answers Share Flag
Sun Apr 22, 2012
Carolyn Wolfe answered:
Depends on the property. Some foreclosures are Cash As Is only, and others can take an FHA
Most lenders are requiring 640 score and 3.5% down plus closing costs.
Let me know where the property is, and I can tell you more! ... more
0 votes 7 answers Share Flag
Sun Apr 22, 2012
Don Tepper answered:
Generally 620 to 640 or higher, though some mortgage brokers who post here say that they've got programs for people whose credit scores are slightly below those levels.
0 votes 7 answers Share Flag
Wed Apr 4, 2012
Christy Hempel answered:

I have helped a lot of investors and home buyers living outside the United States purchase property with in the United States. Feel free to contact meand we can talk. Take a look at my testimonial page to see what my customers and realtors say about the job I do. Hope to hear from you soon ... more
0 votes 8 answers Share Flag
Tue Jan 31, 2012
Grant Olsen answered:
Sounds like you're considering renting out your home in Missouri? Have you tried posting your home as a rental on Craigslist?
Otherwise, if you know a realtor in the Missouri you could contact them and they could help find you a tenant.
If you find a realtor, they could help you with the rental documentation (leasing the property), along with finding property mgmt. to take care of the property while you're in Texas.

Let me know if this helps!
... more
0 votes 9 answers Share Flag
Wed Apr 4, 2012
Christopher Lefebvre answered:
Many pool companies offer financing. I would try talking with your preferred pool dealer and see what they can do for you. You can also try your local banks for a personal loan.
0 votes 2 answers Share Flag
Wed Apr 4, 2012
Ron Thomas answered:
As a rule, Mortgage inquiries do not affect your Credit Score:
If you had 6 in a month; maybe.
You didn't mention why you weren't able to do it in Novenber?

Good luck and may God bless ... more
0 votes 2 answers Share Flag
Wed Apr 4, 2012
Ron Thomas answered:
The fact is, BoA didn't even have to give you a reason.
They also don't have to give HUD a reason.
This is why so few MODIFICATIONS have gone through.
Which means; that you cannot even hang your hat on their REASON.

FAIR does not enter into the equation.

Good luck and may God bless
... more
0 votes 14 answers Share Flag
Fri Jan 6, 2012
Elliott R. Oliva answered:
Bank of America is not exactly the easiest lender to work with. With them it's either a yes or a no and they don't show what needs to be done to turn that no into a yes.

Can you provide some more details about what you are trying to accomplish as your post was a little unclear. Are you trying to purchase a home with a 1st and 2nd mortgage to avoid mortgage insurance?? ... more
0 votes 5 answers Share Flag
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