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Financing in Saint Petersburg : Real Estate Advice

  • All604
  • Local Info48
  • Home Buying208
  • Home Selling17
  • Market Conditions31

Activity 18
Tue Jun 11, 2013
Sean Barber answered:

I have access to private and hard money lenders but I doubt they would want to JV on the loans and the interest rates and points would cut into your positive cash flow.

I would certainly enjoy discussing your goals with you and see if there is any creative or outside the box way to get you the contacts/money you need to make this happen.

Contact me anytime. Best of success.

Sean Barber
Charles Rutenberg Realty
727.481.5012 cell text
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0 votes 4 answers Share Flag
Tue Sep 18, 2012
Terry Bell answered:
I like to think in terms of a team approach when doing real estate transactions. Keeping in touch with their lenders from the beginning helps being ready to know that we're going to meet those loan contingency removal deadlines. The same with the inspectors and other real estate professionals, I find the more I'm at my client's side, the more likely we'll move to a successful COE. ... more
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Tue Sep 18, 2012
Margaret Hassani answered:
Hi Paul - It sounds like you are in a position to get a loan. I have seen it done with co-signers quite often as long as the lender's other criteria are met. If you need help finding a reliable mortgage agent, feel free to give me a call.

Margaret Hassani
Lightning Realty
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0 votes 7 answers Share Flag
Tue Jul 12, 2011
Kevin Cloutier answered:
Yes, it is. However, options that you have available vary based upon who you may be dealing with as a lender.

I would be happy to assist you with that and an MLS property search for the greater SW Florida area of Lee, Charlotte and Collier counties.

Just e-mail me back at and let me know what your looking for and I will tell you what I can do!

Kevin Cloutier
Southern Premier Realty
1716 Cape Coral Pkwy W
Cape Coral, FL 33914
1.877.840.3413 Toll Fee Real Estate Hotline
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0 votes 7 answers Share Flag
Tue Mar 8, 2011
Jon Trombetta answered:
If you were approved for a $98k loan, and you want to purchase a property at $120k, then you would need to just come up with the $22k difference as your down payment then add your lenders closing costs. On a $120k purchase price, $22k is just under a 20% down payment. If you can come up with just a bit more to get to the 20% down payment you will find that mortgage interest rates become more favorable giving you a better chance to hit that monthly payment you are looking for.

I hope this information was helpful.
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Wed Dec 29, 2010
Mott Marvin Kornicki answered:
From the sound of it- it does not seem illegal.

The agreement MAY not be valid- as the mortgage was assigned.

Lenders, understandably - do not make it easy for borrowers doing a loan mod or short sale. In theory and to some degree of reality - the lender is taking a loss.

Resubmit your request to the new lender.

Waterway Realty, Realtors
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Wed Dec 8, 2010
Anne Hensel Available Now !!! asked:
0 votes 0 Answers Share Flag
Thu Jun 16, 2011
Hi Anne,

I have a lender that will do them but the rates aren't great and they have some pretty stiff guidelines/requirements.
0 votes 3 answers Share Flag
Mon Aug 8, 2011
Fred Glick answered:
It's not about a local bank, it's about what programs are available.

You can get an FHA loan with 3.5% down and there are also 3% down conventional loans on Fannie Mae foreclosures called HomePath.

I can help you with either loan and educate you real estate agent into how to find those properties for you.

Contact me or 877-282-5789.

... more
0 votes 7 answers Share Flag
Thu May 20, 2010
Hi Robert

For the majority of lenders today, you'll need a 620 or better credit score. Talk to a lender you trust thats experienced in credit restoration to determine what you will need to do to increase your score. Almost everything required you can do yourself, thereby avoiding the need and cost of a credit repair company. ... more
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Mon Sep 7, 2009
Is your loan with a private investor? You should really try a speak with a Loan officer. You can call my office if you need some of your questions answered.
0 votes 5 answers Share Flag
Fri Oct 16, 2009
Hello Darrell,
There simply is not enough information here to tell you yes or no. I am located in St. Petersburg, FL and I'd be more than happy to assist you with your financing needs. As a disabled veteran, not only are you able to take advantage of 100% financing with no MI, if you are 100% disabled you also pay no taxes saving you thousands of dollars a year and hundreds a month. Give me a call and we can evaluate your loan situation.
Joshua A. Lerette - The Tampa Bay Mortgage Pro
... more
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Mon Feb 23, 2009
Dallas Texas answered:
GREAT QUESTION: you need contact a mortgage broker in the area seeking purchase a home. It will require additional paperwork for a non US resident, lenders will review financial records, debt ratio and etc. ... more
0 votes 5 answers Share Flag
Sat Jun 27, 2015
Jim Janolek answered:
Hi Merrill,

Also a veteran here, USMC - 12 years

I spoke with our lender and he thinks that you would have difficulty with a score under 600. However, finding a home now that will consider a lease purchase will afford you the time to work on building your credit score while you negotiate a sales price at today's market value.

Jim Janolek
... more
0 votes 10 answers Share Flag
Fri Nov 11, 2011
Scott Godzyk answered:
i have seen 20 to 35% depending on credit and verified funds for down payment and closing costs. Alot of banks are doing it on a case by case situation. It also matters whether it is an investment or if they are coming here to live. ... more
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Wed Sep 3, 2008
Phil Fowler answered:
Hello Steve and Joan,

It's very simple. They want proof of funds, especially if you are making an offer on a short sale or foreclosure. They have that right, after all, it is their property. ... more
0 votes 26 answers Share Flag
Sun Mar 9, 2008
Nathan Pawelkop answered:
You need to talk to your lender about that. I believe that you can take a little out as the appraised value is more than the sales pice but as to how much that will be up to the lender. Call them and ask. ... more
0 votes 11 answers Share Flag
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