Profile picture for Chuck  Paulson

Chuck Paulson's Advice

Contributions are sorted newest to oldest.

  • 25 Contributions
  • 1 Best Answers
  • 3 Helpful

Chuck Paulson wrote:

How do the mortgage brokers on Zillow make money?

Answer
No mortgage is the same. Get 3-5 GFE's from different lenders and compare them. 
September 12 2013
(0)

My middle score is currently @ 620-630. MN, seeking FHA loan. Possible?

Answer
Yes but be prepared to pay a higher amount for FHA mortgage insurance. If you buy a home, monitor your credit and refi when you cross into a conventional loan credit score. It will save you tons in the long run.
September 12 2013
(0)

How do I list my house for sale on Zillow?

Answer
Nationally in 2012, FSBO's sold 14%-18% less than homes listed by brokerages. Hiring an agent will cost you 6%, you profit 8%-12% more by hiring an agent. Not every transaction is the same but do you have the time to list it yourself? Probably not. Do you have the ability to market the home for sale? If your relying on Zillow and Craigslist, the answer is no. The bottom line is hire and agent. 
September 12 2013
(0)

We are self employed and have owned our business for 24 years. We are looking to buy two more renta

Answer
Diversify your income, great idea. If your in the position to purchase properties, do so. You will benefit both short term and long term with little risk if done well. Remember when you are purchasing, investors purchase by numbers and not emotion.
September 12 2013
(0)

We are looking for a buying a house and was previously burnt due to lighting.What should we look for

Answer
Your realtor should give you no other advice here but to hire a inspector(s) to check the integrity of the house. 
September 12 2013
(0)

Are there any lenders out there lending to people with less than perfect credit?

Answer
Maybe repair the credit to a higher level before purchasing. Conventional vs. FHA rates over the course of an amortization schedule can amount to a scary number. Especially when you consider FHA mortgage premiums.But even in a low credit situation, it can still be cheaper than renting. Especially in the Twin Cities where rent is outrageous.
September 12 2013
(0)

Sold before accepting offers???

Answer
As Larry states, this home 100% sold over ask. I have been involved in about thirty of these situations this summer and all have gone over ask. Cash is king when it comes to those properties. 
September 12 2013
(2)

how do i find potential sellres on Zillow?

Answer
Go pound the pavement and pick up the phone! Make things happen, don't wait for them to happen.
September 12 2013
(1)

Negotiating Pre-closing Repairs to Please Insurance Company

Response
Absolutely shop for another insurance company, that is ridiculous. There are foreclosed properties that are in terrible shape that carry homeowners insurance. Why can't you? The answer is find a different company.
September 12 2013
(0)

Requirements to remove PMI?

Answer
Absolutely look to refi if you can. Another lender would be happy to earn your business but the 24 month is typically the magic number if you stick with your current lender. I would contact your original loan officer directly for answers, not some mortgage customer care line with Wells.
September 12 2013
(0)