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Financing in Kansas City : Real Estate Advice

  • All498
  • Local Info52
  • Home Buying202
  • Home Selling32
  • Market Conditions12

Activity 36
Sun Mar 23, 2014
Julie answered:
It seems to me you are going to have to pay something, either in points or closing costs or both. I do not know anyone who is offering money and/or loans for free anymore, especially for condos when they are higher risk and may not qualify for owner occupanats to get normal conventional financing because of too many investor-owners. Good luck. ... more
0 votes 2 answers Share Flag
Mon Apr 22, 2013
Suzanne Montague answered:
Dear Brandy,

There are companies that can help you get your credit score up and you only pay them once they have accomplished that task. Please call me and I will be glad to refer you to someone that can help so you can purchase a home (since the interest rates are at an all time low). Will you be buying by yourself or is your future husband going to be on the new home loan as well? Does he have a better credit score than you or are you wanting to buy without him on the loan? I will be glad to refer you to a company that can assist you in your search. Please feel free to call me.

Sincerely,

Suzanne Montague
Realtor
Century 21 All-Pro
8904 NW Hwy 45
Parkville, MO 64152

816-547-4889 (Cell)
816-505-3338 (Office)
... more
0 votes 6 answers Share Flag
Wed Apr 4, 2012
Dale Weir answered:
It depends on many things, none of which we can answer here

Your credit will be affected for 5-7 years from the foreclosure, but if your credit scores are really high, they may still be high enough to qualify. They will also look at your debt to income ratios and how much money you have to put down for a downpayment.

I HIGHLY recommend that you sit down face to face with a GOOD, LOCAL lender to discuss your situation. Note that a bank will typically only lend only their own loan packages, while a mortgage broker can look at different banks to see which has the best package for you.

You may also want to talk to a local HUD/FHA counselor about your situation. They will have no vested interest in whether you buy or not
... more
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Mon Apr 2, 2012
Debra (Debbie) Rose answered:
Well, several things might be at play here:

1. sellers are giving the home a "rest" (not what I would suggest , however)...and this is a strategic move - it may be relisted soon

2. the listing period is often for 6 months, so it may have expired........and they simply decided not to relist the home..........and, perhaps not to sell at this time

3. they are currently deciding who to relist with (might be looking for a new agent), so keep an eye out as it may pop up on the mls again soon....hopefully with a lower list price

4. they tried selling at a certain price, and that number didn't work out...........maybe they can't sell for a lower number.............they might be upside down on the mortgage at a lower list price

You can always call the former listing agent (or ask your own agent) and ask if they know what the current status/plan is.

Good luck!
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0 votes 8 answers Share Flag
Wed Mar 21, 2012
Marie Souza Team answered:
This is a question for a mortgage officer. Contact one directly to see what you qualify for.
0 votes 9 answers Share Flag
Fri Feb 17, 2012
Joel Upchurch answered:
Izzy the basic answer is you will have to have been discharged over 2 years ago The homepath program is basically underwritten with conventional loan guidelines Generally speaking you have to have a credit csore of 660 or better and your debt to income would need to fall within the Guidelines for conventional underwriting I noticed that you are in Kansas City I am in Georgia but will be more than happy to put you in touch with a mortgage that can answer questions more specific to you situation . Homepath .com also has loads of information

Have a Great Day and Good Luck!!!!

Joel Upchurch
Re/Max Results LaGrange
706-845-7000
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0 votes 3 answers Share Flag
Thu Jul 18, 2013
Scott Godzyk answered:
Beth becuase you had a short sale in 2010 the availability of a mortgage is limited as most loan crieria states you have tio wait 2 years. There are conventional programs that require a larger deposit. Your best bet is to seek for a local and trusted mortgage company, they will have more access to types of loans than a bank. beware of internet or out of town companies that make promise stoo good to be true. Good luck working things out ... more
0 votes 9 answers Share Flag
Mon Jan 9, 2012
Tim Moore answered:
It will be pretty unlikely for either. A home that has been foreclosed will be owned by the bank and they are not going to do a rent to own. A builder usually can't get the construction loan converted to a rent to own either. ... more
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Mon Jan 9, 2012
Doc & Ellen Stephens answered:
Hi, Gordon,

In the current market environment, you will need to find a competent lender partner who can advise you on the latest market rules and conditions. If you don't have a local lender you like, ask your agent for a referral, If you are going to be a serious investor, a strong agent and a smart lender are the first two team members you need to put into place. Investing is not a do-it-yourself activity.

Good luck,

Doc
... more
0 votes 3 answers Share Flag
Sun Dec 16, 2012
Annette Levinson answered:
Julia,
Unless you are a vet or buying in a USDA area, you are not getting 100%financing. If you can afford the monthly payments for a house, why aren't you saving money.
0 votes 3 answers Share Flag
Sat Jul 9, 2011
Ron Thomas answered:
A Preapproval, just like a lot of Real Estate documents is "time sensative" meaning that it is only good for about 60-90 days.
No one will give you longer than that.

Also, the loans in place next year will probably be different than what we have now; different requirements, etc.

It would however be a good idea to get advice and start planning:

Good luck and may God bless
... more
0 votes 4 answers Share Flag
Mon Apr 11, 2011
Domenic Zappia answered:
Hello,

I have a half duplex listed in which the owners would consider a lease purchase. 6902 Fisk KMCO 64151. If your interested let me know and I'll get some specific terms for you. You may want to check Craigslist also.

Thanks,
Domenic Zappia Platinum Realty KC
816-835-0289
... more
0 votes 2 answers Share Flag
Sun Apr 3, 2011
Jon Adams answered:
Credit score goes a long way, but so does LTV. I could give you recommendations locally, but I don't know how much I could help in Iowa.

I have three people I recommend for the KC market & I know they're with banks, so they should be able to help, but no guarantees. You can contact me directly at [info at toddappraisal dot com]. I don't want to give their info out in an open forum like this for fear of attracting spammers. ... more
0 votes 10 answers Share Flag
Thu Sep 23, 2010
Chris Lengquist answered:
Charlie Hill at the Olathe Bank of Blue Valley. Small to medium size banks tend to be my best sources.
0 votes 0 Answers Share Flag
Wed Aug 25, 2010
Bob McClure answered:
good evening jrd.....yes, you should refinance...hopefully you haven't been a victim of falling home values .....
best regards
bob mcclure
mortgage one
brighton, michigan
0 votes 4 answers Share Flag
Wed Sep 1, 2010
The Sherri Oaks Team answered:
Sandor,
Robert Hastings with Plaza Mortgage said he would consider it, but will need additonal info. Give him a call
816/655-6584

If I can assist you in any way, feel free to contact me.
Sherri Oaks
816-365-8660
... more
0 votes 1 answer Share Flag
Thu Aug 5, 2010
Sándor Lau asked:
0 votes 0 Answers Share Flag
Tue Aug 3, 2010
Darrell Hess answered:
FHA basically states that an appraisal of the property is not a home inspection and really does not guarantee that a home may be without flaws. FHA will take steps to make sure a home is safe and sound and in a clean sanitary condition. The FHA approved appraiser is expected to find anything that requires repair or replacement that may affect the habitation of the home according to their standards mentioned. If any repairs are needed then the appraiser will hand the seller/buyer a list from the lender itemizing needed repairs to secure the loan.

That said, every flaw found is really at the discretion of the individual appraiser even though set guidelines are in place. Every inspector I've ever dealt with treats cracks in foundation as normal settlement if no standing water/moisture is found at the crack site. Most contractors fix these cracks with hydraulic cement. So in effect if there is no dampness resulting from the cracks then allegedly you really should not have a problem with the inspection. I would be more concerned if you have any type of sump pump or fixture that is not operational within the basement itself then the cracks in the walls.

The website I've linked may help you as well as the FHA or rather Hud.gov site.
... more
0 votes 2 answers Share Flag
Sun Jan 24, 2010
Mack McCoy answered:
Yes, but you need to speak to a local commercial bank.
0 votes 2 answers Share Flag
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