Terri Vellios answered:
Should I shop for a mortgage lender or have my broker do it?
I do not recommend you ask your Broker to shop for a loan for you. This is a personal decision and your private financial information will be needed. Your Broker may recommend a trus
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Gregory Yadgaroff answered:
I need a refi on a 3 family in queens. we owe 471k on an IO ARM. Home worth 525 to 550K. we can pay down mtg if we have to.
You will need to talk to one of our loan officers in order to see what options we have to offer you.
Please contact me and will coordinate a time and date for your consultation.
Tha
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Annette Levinson answered:
I cannot get mortgage for an investment property. Does anyone know any reliable lenders for such a property. I have good credit scores.
Elmoe,
It is not only the score that counts. What is your DTI? Is the house rented currently? What is your down payment? These are some of the questions you must answer before we can
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Joseph C. Hastings answered:
If I rent out my COOP, which will cover my COOP mortgage and maintenance is this debt calculated in my Debt to Income ratio when qualifying for a hous
Hi Leterps. I'll add one thing here in an effort to round out the responses. Your Coop house rules may limit the amount of time you can sublet the apartment. You need to check into
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Anna Brocco answered:
NY Laws: Name on Deed, not on Mortgage
Why not establish some credit before considering the purchase; for any necessary legal advice consult with an attorney who specializes in real estate...
Richard Littlefield #287206 answered:
Can I refinance under the new Obama Plan?
You can not take out cash under any of the government bail out plans. But you can refinance under FHA to 85% cash out. I am sorry I am not licensend in NY, if I were I could do this for
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Annette Levinson answered:
how much closing cost for Refinance home $263000.00 without cash out and do I have to pay tax transfer fee or do CEMA.
Thank you for your answer
Sam, a CEMA definitely helps since your mortgage tax is 1.8%. Unfortunately most banks charge you over $875 to bring the original note to closing-that is if they can find it. The new le
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S.A.C. Properties answered:
Can you advise if a rent to own a home is the right move for someone with a low credit score and bad credit? How doI go about finding an agent?
Good Morning,
It all depends so there is no true right or wrong answer to your question. It depends what you can afford and you need to have full disclosure from the owner that'
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Annette Levinson answered:
Are 80/15/5, 80/10/10 or 90/10 still available in NY for 2 family houses?
Your best bet is FHA which goes up to $934,200 in Queens. This should be enough to cover you with 5% down. You may want to put 3.5% down since in Queens the mortgage tax is 1.80%.
Scott Butcher answered:
Mortgage for 1st time home owner with Contruction loan included
A full FHA 203k (not a Streamline program) could work for you if your buying an existing house. Under a FHA 203k, you can take the home basically down to the slab and rebuild. Otherwi
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Real Coop answered:
Anyone ever heard of the direct lender Lyons Mortgage Services, Inc. in NY/NJ? Do they have a good reputation?
Yes you were the loan officer, Vincent. And an awesome one at that. I appreciate you hanging in there when it looked like the deal wouldn't work out. I'm happy in my new home,
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Vincent Carrieri answered:
Looking for a private lender to buy a co-op in Jackson Heights??
you may want to concider finding a free and clear home and ask for seller financing. Fannie, Freddie and FHA all have time restrictions on short sale buyers. Many times, sellers like th
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Vincent Carrieri answered:
Do brokers or mortgage bankers normally charge an application fee.?
Ive worked at variouse brokers and lenders over the last 10 years and all of them had some form of an application fee. from one man broker shops to national lenders and commercial banks
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Yanni raz answered:
Refinance, Hard Money.
here is a website that can get you different hard money lenders in your area.
try there to find someone, I've found lenders there my self.
good luck
Fairyeric answered:
Fidelity bond (Employee Dishonesty) Insurance coverage for the coop is not enough, What can I do to get the mortgage
Hi Sherry, I am currently working for a Direct Lender (which means have money in own pocket )and can help you getting a loan from our portfolio products. If you still have hard time wit
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Lew Corcoran - Your 'Best Choice Agent' answered:
how does owner concession work?
Seller concessions are a seller's agreement to pay all or part of your closing costs. Concessions can be as much as 6% of the purchase price of the home - depending on the type of
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Robin Silverberg answered:
condo no maintenance cost
Carlos, is it possible that you saw a condo with no property tax because of an J51 abatement? If you are looking at the public MLS site, and someone did not put on maintenance, that doe
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Kathleen A. Scanlon answered:
Can one close an FHA with a 203K loan without Cof O?
The details of the FHA 203k program can be found here: http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
HUD indicates that to be eligible for FHA 203k financing, the property mus
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Terry Korahais answered:
Looking for a local FHA lender in the St Albans, Jamaica, Ridgewood, Springfield, and Laurelton any suggestions
Hi Nancy-Happy Healthy New Year to you and yours...... I have a buyer right now getting his financing thru Wells Fargo with an FHA loan in Laurelton- We should be closing by next week-h
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Luke Allison answered:
I'm a deployed soldier looking to buy a home when i return. Does anyone know if a VA loan is better than an FHA loan or vice versa?
A VA loan is much better than an FHA loan if you are eligible. Some reasons:
* A VA loan can grant 100% financing, whereas an FHA loan will require 3.5% down
* A VA loan has no month
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