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Financing in Cape Coral : Real Estate Advice

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  • Local Info78
  • Home Buying410
  • Home Selling29
  • Market Conditions36

Activity 25
Fri Apr 12, 2013
Ronald Wolchesky answered:
I just posted in my blog that that will help you decide:

Hope this helps. Good luck with your decision.

Ronald (Realtor Ron W) wolchesky
"Success is when we work together to achieve your GOAL!"
License in Florida
Home: 239-349-4684
Cell: 239-209-1923
Fax: 800-632-3096
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0 votes 5 answers Share Flag
Mon Dec 24, 2012
Neil Blair-Bennett answered:
Marlos, what kind of vacant lot are you looking for? Dry? Fresh water? Gulf access?
0 votes 6 answers Share Flag
Mon Nov 12, 2012
Anthony Cincotti answered:
I have written them for as low as 10% down and as much as 25% it will really depend on the individual selling the home.

Let me know if I can be of any assistance.

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Mon Oct 1, 2012
John Pratt answered:
HAMP stands for Home Affordable Modification Program. It's purpose is to modify an existing mortage. I don't believe you can use it to purchase a home.
0 votes 1 answer Share Flag
Mon Oct 1, 2012
John Pratt answered:
HAMP stands for Home Affordable Modification Program. It's a program for modifing an existing mortgage, I don't believe you may use it to purchase a new home.
0 votes 1 answer Share Flag
Sat Sep 15, 2012
Paula Levasseur answered:
Hi I am paula Levasseur with Sovereign Realty and it is a great option to buy here in the Cape. The deals are still very good although the prices are increasing :o) ! Please call me today or email me I will be glad to help you through the process and find that perfect home in paradise. 239 910 4403 ... more
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Thu Aug 6, 2015
Frank Glaab PA answered:
Anything is possible Deanna! It sounds like you have a lot of good things going for you, let me know if I can help.

Frank Glaab
Gulf gateway realty, inc
0 votes 22 answers Share Flag
Mon Jun 18, 2012
Danielle Sharp answered:
Foreign national loans are obtainable but often depend on which country you call home. The downpayment is anywhere from 30% of the purchase price on up and there will be closing costs associated with the loan like any other buyer here in the States pays. Some countries have their own types of credit scores which are used for foreign national loans here.

There are a few people I would be happy to put you in touch with that provide these types of financing.
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Tue Nov 8, 2011
For a second/vacation home you'd be looking at a 10% down payment requirement. It doesn't matter if it's a foreclosure, REO, short sale or a regular sale.

If you are using Fannie Mae HomePath financing (only for homes at the website) then just a 660 score would be needed with 10% down, if you are using non-HomePath financing (i.e. just regular conforming financing) then PMI providers are looking for a 720 to 760 score for 10% down (score depends on the PMI provider). If you have 20% down, then a 620 score is the minimum score that Fannie Mae & Freddie Mac require for their loan programs.

There could be other non-conforming conventional loan programs, but I am sure their down payment & score requirements will be similar if not a little more strict.
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Thu Sep 9, 2010
Hi Pcm,

It can be a combination of things. What type of loan are you doing? With FHA,VA and USDA there are "funding fees" that are counted as closing costs that are rolled in to the loan.

Title/escrow fees are getting pretty steep these days as well so that certainly contributes.
Do you have a 2010 GFE?
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Thu Sep 15, 2011
Danielle Sharp answered:

Anything is possible! There are no restrictions for anyone outside the country to purchase property, tax liens or deeds in the state of Florida. I would recommend contacting an accountant that can guide you on the ins & outs of taxation though. ... more
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Mon Apr 5, 2010
Dan Chase answered:
A similar question was asked below. The answers there would apply to you also.
0 votes 8 answers Share Flag
Sun Jan 30, 2011
To be honest, Robert, your best bet is to contact a realtor who will make sure you don't run into any problems, such a chinese dry wall, overpriced properties or a house in an undesirable area.

If you'd like to call us or email us, we'd gladly send you all the available listings for what you're looking as well as represent you exclusively as a buyer to give you more protection. You can call us right now if you'd like.

Elena Ollick
Amerivest Realty
Faith Home Loans
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0 votes 7 answers Share Flag
Thu Jan 14, 2010
Barbara Q. answered:
Ketan - No Employment History = No Mortgage Financing
You need to verify income, assets and employment to qualify for financing unless yo take some sort of hard money loan.
0 votes 4 answers Share Flag
Thu Sep 23, 2010
Dan Craddock answered:
I work with a great mortgage broker, Mike Pfaff, who can help you out. His website is Check him out.

Dan Craddock
Zivkovic & Associates RE Services, LLC
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Thu Jul 16, 2009
My advice is to speak to a couple of reputable mortgage brokers. You may want to ask around to see if anyone you know has had a good transaction with someone near you. Find out which one you are most comfortable with and get them to determine what you qualify for. A knowledgable mortgage professional should be able to give you several different options and some can even advise you about improving your credit scores. ... more
0 votes 6 answers Share Flag
Wed Jun 24, 2009
10% down mortgages have become the minimum down payment for conventional loans. The down side is that you will have to pay mortgage insurance since you are putting down less than 20% (unless, you can find a lender in your area that may provide you a first mortgage at 80% of the value of the home and allow a second mortgage for 10% to avoid the mortgage insurance - In our area this structure is gone). I might assume by your question that you can put down 20% if you're wondering or trying to decide between whether to put down 10 or 20%, feel free to contact me as there are several questions I ask clients to consider as they ponder this thought - best of luck to you. ... more
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Sat Jun 20, 2009
LLoyd Nichols answered:

There is a home with possible owner financing, 4 bedrooms/3 baths, over 2100 square feet. For more info and photos, drop me an email or call.


LLoyd Nichols
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
Activerain Local Blog:
Active Rain Blog:
Search the MLS in Southwest Florida
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Mon Jun 15, 2009
Steve Koffman answered:
Dear Suzanne,

I have a seller that will do up to 95% financing, 4.5% fixed 30 year interest, no closing costs, no origination fee, no appraisal, no mortgage insurance, 7 year balloon for owner occupants on their own homes. I have several to choose from but you must be able to qualify. They are looking for 600 credit score and enough income to qualify. If you have questions please feel free to call my partner Tim at 239-443-2446. ... more
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Mon Apr 6, 2009
Kate Painkin answered:
I recommend you speak to a mortgage expert, like Patti Wilson at 888-220-1025 or Kim Russo at 239-443-8359. Tell them I referred you and they will be able to answer your questions. I am a real estate expert and I don't proclaim to be an expert in mortgages, I always prefer people speak to someone who is up-to-date with all the changes in the mortgage industry.

Kate Painkin
Prudential Florida Realty
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