Zillow Advice RSS: Question-Discussion-Guide,Mortgage,IL

I need loan bad. My credit is bad. Have a $170000 rental house thats paid for. Need to repair home $

Sun, 22 Nov 2009 16:23:00 GMT

9 replies

Mortgage

Fri, 20 Nov 2009 17:09:00 GMT

I would like to refinance my house, but need to know what it would appraise out to be.

5 replies

Question on repairs for home w/ 203k loan. Home also in estate, how should I structure the offer?

Thu, 05 Nov 2009 16:04:00 GMT

A few factors to consider that I want to make sure will all work together before jumping in.

1. Home is in estate, not currently being taken care of and it has some issues, including leaking roof and some basement seepage. Also would need some fairly considerable upgrades including kitchen renovation and possibly bathrooms, which is why we're interested in 203k.
2. The home also has a 3 car garage off alley with a 1 bed apartment over it that has been used as a rental unit, which also has a leaking roof and minor updates needed. So I think this would be considered a 2-unit property.

We were planning on offering $200k with a $12k roof allowance, but since we want to do 203k (to upgrade the kitchen and maybe bath), from what I can tell, we couldn't include it in the offer that way since FHA doesn't permit allowances. Should we just ask for sellers to pay the max 6% closing costs, since that equates to $12k anyway?

Will the home even pass the initial review by the HUD Fee Consultant based on the roof problem? Can I roll in the costs of the roof and the kitchen/bath renovations to the total repair estimate for the escrow of funds?

2 replies

Is it easy to change contractors on a 203k after closing?

Wed, 18 Nov 2009 20:04:00 GMT

I would like to fire my contractor...he has started demo, but has not come back to do anything else because he has no money. ( Initially, he had lines of credit, but they mysteriously vanished once I closed on the loan. My loan is scheduled to be sold to BOA and my mortgage company says that I can not change contractors until it is sold to BOA. Is this a simple process?

6 replies

what do you do if you have no credit to show. Yet, you have a house card evrything paid in full .

Thu, 05 Nov 2009 00:37:00 GMT

2 replies

What are the requirements for a loan that requires Fannie Mae and Freddie Mac backing? Thanks!

Sat, 21 Nov 2009 17:42:00 GMT

7 replies

how come a lot of people that I know they were qualified to get a no down payment loan.

Thu, 19 Nov 2009 16:12:00 GMT

what are the qualification to apply for a no down payment loan?

4 replies

CAN'T REFINANCE!!

Fri, 13 Nov 2009 17:07:00 GMT

I own a townhome that is valued between $180,000 and $190,000; I have an ARM mortgage that comes due in Dec. that I need to refi out of (the new payments are $200 more than what I'm paying now); I don't really have any cash available to paydown the principal balance either. Is there any hope that I could refinance my loan given that the value is possibly less than what I owe??? I need direction. Thanks!

10 replies

I did not get any quotes on my loan request (ZR-XDMXMNX). Can someone help me figure out why?

Thu, 19 Nov 2009 02:52:00 GMT

1 reply

I did not get any quotes on my loan request (ZR-SGCLTHC). Can someone help me figure out why?

Wed, 18 Nov 2009 13:05:00 GMT

2 replies

What is a PMI ?

Tue, 17 Nov 2009 15:27:00 GMT

4 replies

I did not get any quotes on my loan request (ZR-QZLHBCM). Can someone help me figure out why?

Tue, 17 Nov 2009 04:21:00 GMT

1 reply

I did not get any quotes on my loan request (ZR-PXTHSKD). Can someone help me figure out why?

Mon, 09 Nov 2009 18:02:00 GMT

1 reply

How much are lender costs for an FHA streamline refinance?

Tue, 10 Nov 2009 17:42:00 GMT

Current rate is 5.5% and loan amount is 347,00. I've received flyers in the mail claiming 4.0 - 4.5 % for a "no-cost" refinance.

5 replies

Who is the owner of your property . How can you find out.

Thu, 05 Nov 2009 00:31:00 GMT

3 replies

Wanted: Mortgage Broker experienced in VA financing .....

Mon, 05 Oct 2009 04:20:00 GMT

5 replies

How much FHA CAN REFINANCE IS THERE A MAX. DO THEY DO JUMBLE LOANS. CAN ONE REFINANCE SECOND MORGAGE

Thu, 05 Nov 2009 00:28:00 GMT

2 replies

Hi I need to get my mtg refinance and I have excellent CC score. how should i get best rate?

Thu, 29 Oct 2009 00:03:00 GMT

I have excellent CC score and also i am never late on my payment. how should i get the best interest rate and lowest closing cost? thanks in advance.

8 replies

2nd mortgage interest rates

Tue, 03 Nov 2009 13:44:00 GMT

What are 2nd mortgage interest rates going for in Illinois? It will be for 15% of the purchase price.

5 replies

are these fha approved?

Tue, 01 Sep 2009 05:57:00 GMT

is catalpa gardens FHA approved

6 replies