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Financing in Michigan : Real Estate Advice

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  • Local Info32
  • Home Buying456
  • Home Selling82
  • Market Conditions9

Activity 451
Fri Dec 9, 2016
A. Edwards answered:
HUD guidelines say 580. Most lenders are going to require 620. If credit is iffy, I head up the credit coaching effort at my company and I would be happy to help you assess your situation. ... more
0 votes 91 answers Share Flag
Tue Feb 21, 2017
Alo.bolton answered:
Kiva is an international nonprofit, founded in 2005 and based globally, with a mission to connect people through lending to alleviate poverty. loans rate is 5.5% interest rate.

WITH NO UPFRONT OR ANY SORT OF PREPAYMENT FOR A LOAN

(kivacorp@web.de)

Bless up..
... more
0 votes 1 answer Share Flag
Thu Apr 18, 2013
answered:
i think it is. i would consider doing a shorter term and a premium priced loan where the bank covers all cost.
0 votes 3 answers Share Flag
Mon Apr 1, 2013
Angeline Brown answered:
Good Evening Tami,
You can't go wrong offering land contract terms. Where else can you make 10% on your money? Of course you would want to put some restrictions on the property until the balance was paid in full. It is all in the details and I would be happy to speak with you further about your options and what I could do to ensure your transaction is in your best interest. Call me anytime 810-652-2222 I am looking forward to working with you. ... more
0 votes 1 answer Share Flag
Sun Mar 31, 2013
Haig Istamboulian answered:
Hello,

The house on 6865 Jonathon is NOT on the market anymore. It was listed last November and just Withdrawn from the market 2 days ago on 3-29-2013. It is no longer available and when it was listed it said that it was NOT available on a Land Contract.

I hope this helps.

Thank you,

HAIG
(248) 379-6547
realtorhaig@aol.com
... more
0 votes 2 answers Share Flag
Fri Mar 29, 2013
stephen webber answered:
In most states the lender cannot go after your assests if the property was your home. Best to get to an acountant.

Best of Luck
0 votes 2 answers Share Flag
Thu Mar 14, 2013
Alain Picard answered:
Any lender will have a minimum amount of income they want to see to qualify you for a loan. They will most likely want to see your tax returns for the last two years for proof among other things. The best thing to do is to call around to some lenders and explain your situation and see what they can do. ... more
0 votes 7 answers Share Flag
Mon Mar 11, 2013
Barbara Hecker answered:
Loans are similar. Contact USDA direct and they can answer all your qualifying questions But hurry they are on limited budget and money is half gone already. Let me know if you need contact information. ... more
0 votes 2 answers Share Flag
Thu Feb 4, 2016
adeder answered:
Check out this website, we lend nationwide, large and small deals, investment property only.

www.privatemoneyexchange.com/dder

email me if you have any questions.

Danny Der
Private Money Exchange
deals4RE@adeder.net
... more
0 votes 3 answers Share Flag
Mon Feb 25, 2013
Terry McCarley answered:
You will probably have a hard time pulling 290k if it is valued at 306k - contact a local bank or mortgage broker in your area for assistance.
0 votes 5 answers Share Flag
Mon Feb 18, 2013
Karen Paytas answered:
Good Afternoon,

When financing with a Homepath loan an appraisal isn't required because one has already been done. You should have been given a copy of the appraisal when you closed on the house. Appraisals for refinancing are different that purchase appraisals. Your Realtor didn't do anything wrong. Hopefully, you were given comparable sales of like homes before you made an offer on the property. The bank lended to the appraised value at the time of purchase. Again, there was an appraisal done on the property you just weren't required to pay for another one. If you're asking about legal issues you would need to contact an attorney. Realtors are not allowed to give legal advice.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
... more
0 votes 5 answers Share Flag
Sat Jun 15, 2013
Gracie Mooney answered:
No, your closing was not valid and all the figures that were used for 1/31 need to be revised. The closing should have been canceled, until it was completely through underwriting. I would like to know who the loan officer is, as it was not handled properly. If there was no money disbursement than I am guessing that you are not out any money and you can just start over with someone else who can take you through a successful refinance. ... more
0 votes 3 answers Share Flag
Mon Feb 4, 2013
answered:
Unfortunately you're not in a profession where your offer letter is pretty much a guarantee. Physicians and Attorney's usually are allowed to start before their first day with just an offer letter (in some cases, the first day) because those offers are usually a guarantee and this is the norm for those professions.

Until you can produce a month of pay stubs, you'll have a hard time closing with anyone (you could still take application before, you just can't close). If your wife can go solo on the loan, you could run with it now but of course you'll have to decide what's best your family.
... more
0 votes 6 answers Share Flag
Sat Jan 19, 2013
answered:
There are not too many lenders in the market lending on land. And more than likely, they will require much more than 20% downpayment. My best bet is look online, for the very few lenders that still takek risk on vacant land.
Interest Rates are also a reflection of the risk that an entity is willing to take. So, for anyone serious to give you relevant information, would have to take a complete application, to see the four factors of analysis: Credit, Income/Employment, Assets and Collateral. With this information, they should be able to determine, LTV, DTI, and other risk indicatives.
Good Luck.
... more
0 votes 2 answers Share Flag
Mon Jul 21, 2014
Kevin Elam answered:
Good luck John! Most of them closed up during the mortgage crisis. Have you tried getting a mortgage?
0 votes 1 answer Share Flag
Thu Jan 17, 2013
Rob Moen answered:
I would be happy to help you secure financing. Please contact me at 810-691-0019.
Rob Moen
American Associates, Inc Realtors
0 votes 2 answers Share Flag
Wed Jan 16, 2013
Tina Lam answered:
Give your HOA manager a call and request a copy of the HOA status.
0 votes 3 answers Share Flag
Fri Feb 10, 2017
Jon Smith answered:
Pete St. John at Third Coast financial does "challenge" loan brokering. He may also know of other hard money options- http://thirdcoastfinancial.com/About.html
0 votes 4 answers Share Flag
Sun Feb 3, 2013
Vera Gonzalez answered:
Monique,

This is really a lender type question. There are many other factors besides credit score. Such as debt to income ratio etc. They can help you plan to get to the next step. Feel free to contact me to help you with the next big step to your future.

Vera
... more
0 votes 6 answers Share Flag
Thu Jan 10, 2013
Keith Jean-Pierre answered:
That would most likely require a refinance but you have to adhere to the banks guidlines. I would suggest calling your current mortgage company to find out more information. Best of luck ... more
0 votes 2 answers Share Flag
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