Profile picture for amypoo1

I want to buy a farm /house built in 1806 for $700k, fico 620-670, 5% down, Bucks County PA. Advice?

  • July 04 2010 - Hatfield Township
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Answers (7)

Profile picture for wetdawgs
What sort of advice are you looking for?
  • July 04 2010
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I am very familar with bucks county PA. Where is the property located is it near Lake Noximixen,Revere, I have contacts up there and could possibly do some research for you.I am also licensed in all 50 so don't hesitate to call.
  • July 06 2010
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Do all the right things.

Use an experienced professional real estate agent
Use an experienced reputable mortgage professional
Have the property inspected - from every direction
Make sure the appraiser uses good comparables - don't wait until closing to take a look at it

Trust the professionals and you should be fine.
  • July 06 2010
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Profile picture for workabee
"Trust the professionals and you should be fine."

That tired line expired in 2006. Didn't you get the memo?
  • July 06 2010
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@ Martin, you say you know the area very well so why not address the OP's question, can they buy for $700k and 5% down? Since FHA and Freddie/Fannie cap at $420K it is extremely unlikely.
  • July 06 2010
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cap wouldn't matter in this case anyhow, can't get the PMI.
  • July 06 2010
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Caps wouldn't matter on conventional but would matter if the house was in Pike County where they could do FHA up to $729,750.
  • July 07 2010
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