This is a good question for your CPA an your Real Estate Agent. Area and Location will need to be address, property taxes and closing cost. Also remember you are retiring. I alway advise to put together a team and look at all your options. Make sure you pick the right place. With the interest rate being as low as they are and your net worth. You should be able to get what youre looking for.... more
Anyone quoting rates without an APR and without so much as even a hint of qualifications should have their license pulled; that is if they even have one. HomePath mortgages have HUGE pricing adjustments based on loan to value and credit score and for anyone to even think of quoting a rate with the information given is reckless and clearly a violation of TILA!... more
The answer is AA South Florida Mortgage. They have been in business here for over 15 years, and have more lenders / programs then others. What ever your need, they will get it done for you.
( 239 ) 936-2139... more
I've sold several homepath loans and the process is usually very quick. If this is a renovation loan, then the process will take much longer. Fannie Mae is usually very good about extending commitment dates IF you respond to them with an extension request before the deadline (I would do this first thing tomorrow).
If you're using a REALTOR, make sure they are on top of this. If you use attorneys in Ohio to close real estate transactions, contact him/her immediately. Remember, we are rapidly approaching a holiday weekend and Fannie Mae will be closed Friday - Tuesday! The request for extension can be submitted online through the homepath website.
John Proto, REALTOR
2620 Whitney Avenue, Hamden, CT 06518
Much will depend on just how bad is your credit....without your overall finances--consider visiting with any qualified loan officer(s), after reviewing your overall finances and credit, he/she can make a determination on qualification--if you don't yet qualify, your loan officer may offer great suggestions as to what needs to be done, so that you can purchase in the near future--then go from there.... more
Our recommendation is to "shop around." The location of the source of funding is of little consequence and you can make financing arrangements with a bank in New York City.....if it serves your best interests.
The important thing is that you understand the ins and outs of financing, the terminology, and are not shy about asking questions when something isn't crystal clear.
Many borrowers miss out on opportunities to save by not completely understanding the borrowing process and not taking time to shop for the best rates.