Archive for category Renting & Real Estate
What banks can finance a single family residence under 600 square feet?
Posted by Anthony in Renting & Real Estate on March 24th, 2009
maganda asked:
Hello. I am attempting to buy a foreclosure in San Diego that is a single family residence with a total square footage of 528. I was told it is difficult for banks to finance anything under 600 square feet. The house is in good shape but its tiny. I need financing asap since the bank already accepted my offer. Thanks.
Hello. I am attempting to buy a foreclosure in San Diego that is a single family residence with a total square footage of 528. I was told it is difficult for banks to finance anything under 600 square feet. The house is in good shape but its tiny. I need financing asap since the bank already accepted my offer. Thanks.
How possible would it be to finance a rather cheap house?
Posted by Anthony in Renting & Real Estate on March 18th, 2009
Casper K asked:
Ok, this is starting to get rather confusing. I am looking to buy a home in a surprisingly cheap neighborhood. The house I am interested in purchasing is under $50,000. My credit qualifies me for a bad credit loan, but no one wants to finance for such a small amount. I am definately trying to live within my means and do not necessarily want to purchase a higher value home just because I can. Does anyone have any idea where I can finance such a house even though my credit is tarnished (but getting fixed due to multiple discrepencies)? I know there are different requirements depending on the state. My state is PA, and I am first time homebuyer.
Ok, this is starting to get rather confusing. I am looking to buy a home in a surprisingly cheap neighborhood. The house I am interested in purchasing is under $50,000. My credit qualifies me for a bad credit loan, but no one wants to finance for such a small amount. I am definately trying to live within my means and do not necessarily want to purchase a higher value home just because I can. Does anyone have any idea where I can finance such a house even though my credit is tarnished (but getting fixed due to multiple discrepencies)? I know there are different requirements depending on the state. My state is PA, and I am first time homebuyer.
How to finance investment property with almost zero down?
Posted by Anthony in Renting & Real Estate on March 8th, 2009
Suresh P asked:
I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.
I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.
How do I finance a house down payment while I am still making payments on the home I am trying to sell?
Posted by Anthony in Renting & Real Estate on March 3rd, 2009
2bright4u@sbcglobal.net asked:
The buyer for our home just backed out and we have to close next Friday on the house we had made an offer on. We don’t have enough cash on hand without our equity in this house to make the down payment. Is there anyway we can get a loan to make the down payment so we can move ahead with the purchase. I would rather not get a bridge or finance 100%.
The buyer for our home just backed out and we have to close next Friday on the house we had made an offer on. We don’t have enough cash on hand without our equity in this house to make the down payment. Is there anyway we can get a loan to make the down payment so we can move ahead with the purchase. I would rather not get a bridge or finance 100%.