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Financing in Romeoville : Real Estate Advice

  • All52
  • Local Info1
  • Home Buying17
  • Home Selling2
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Activity 3
Thu Feb 2, 2012
Terry Farnsworth answered:
Hi Dorothy,

This property is a short sale, and it doesn't look to have a rent with option to buy at this time. My advice would be, to work dilligently on getting any credit issues you have cleaned up first, and then begin the home search. Additionally, there may be some other options in the area that I'd be happy to send you. Please feel free to contact me at any time if you need additional information.

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Fri Apr 23, 2010
Steve Smither answered:

I guess the question is are you just adding an owner?
Is this a sale from a relative??
What is the scenario and what are you trying to accomplish?

Steve Smither
Ardain Mortgage Corp
847-942-5151 Cell
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Wed Feb 10, 2010
Chris Covalle MBA, CPA answered:
Yes, having a non-occupant co-borrower on the loan can be used to lower the overall debt to income calcuation used in the loan approval process. Keep in mind that not only will the co-borrowers income be added to the application, but that their liabilities will be included as well. FHA loans will not require you to maintain a specific debt to income ratio while conventional (Fannie or Freddie) loans will, depending on your overall down payment. Please do not hesitate to contact me w/ any additional questions, Thanks ... more
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