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Financing in 79940 : Real Estate Advice

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Activity 5
Sun Feb 14, 2016
Michael Bray answered:
I may have just the answer for you. I am working with 2 other similar transactions. If you are not already represented by a Buyer's Agent we need to talk. I can be reached on my mobile at (915) 549-1770.

Michael Bray, ABR, AHWD, CSP, eCertified, GRI, TAHS
2010 Texas REALTOR® Hero
EXIT West Realty
El Paso, TX 79912
(915) 549-1770
mailto:mbray@elp.rr.com

Presiding Officer, Texas Department of Housing & Community Affairs, MH Board
Vice President, El Paso Housing Finance Corporation
Commissioner, City of El Paso, Building and Standards Commission
Member, City of El Paso, Zoning Board of Adjustments
Member, City of El Paso, Health Facilities Development Corporation
Former Director, National Association of REALTORS®
Faculty Instructor, Texas REALTORS® University
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0 votes 4 answers Share Flag
Sun Mar 3, 2013
SH answered:
Ivan, I work with this lender she is awesome to work with and will always answer any questions that your clients my have. Her name is Evelyn Bonilla 469.939.3913
0 votes 6 answers Share Flag
Fri Jan 3, 2014
Dp2 answered:
I don't know about any government bonds, but you might want to consider buying with creative financing.
0 votes 8 answers Share Flag
Fri Jun 10, 2011
Angela Ochoa answered:
You probably qualify for an FHA Home Loan which is 3.5% Down Payment. It works off the sales price of the home, so it depends on what house you pick. There are also Down Payment Assistance Programs out there, you can view a couple at: http://www.tdhca.state.tx.us/homeownership/fthb/buyer_intro.htm

Not every mortgage company is approved to do each Bond Program, so if you want to use a bond, you need to work with their approved lenders. Also, most bond programs have requirements about repayment policies and about how long you have to live in the home as your primary residence.

There are also 100% Financing/No Money Down Loan Programs if you purchase in rural areas. That is basically anywhere that is not in the City of El Paso or City of Socorro.

All of these programs are subject to qualifing for the loan with the mortgage company reviewing your income, debts, credit score, and credit history.

If you need help figuring it all out, please let me know. I'll be glad to help. Angela
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0 votes 0 Answers Share Flag
Wed Aug 27, 2008
Leesa Sandoval answered:
In order to remove anyone from the loan a refinance will be required. There is no way of switching out or replacing borrowers.
0 votes 5 answers Share Flag
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