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Ed Slayton's Advice

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  • 23 Contributions
  • 0 Best Answers
  • 2 Helpful

Ed Slayton wrote:

If my husband purchased a home in 2001 and sold it in 2007. And recently bought a home in 2009 can h

Answer
The rules say have not owned a home for three years but they also say if you are a move up buyer and have lived in a home the last three out of the last five years you may qualify for the move up $6500 tax credit.
January 08 2010
(0)

Poor Credit / Any hope in becoming a first time home owner soon?

Response
It depends on what your score is.  Generally speaking you will need a mid credit score of 620 for an FHA loan.  There are things you can do to get your credit up but the most important is make all payments on time.  That counts for 35% of your credit score.
January 08 2010
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Is (pmi) tax deductible?

Answer
It can be but it depends on your income.
January 08 2010
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I did not get any quotes on my loan request (ZR-ZDKBZNT). Can someone help me figure out why?

Answer
Afternoon,  FHA requires you to put 3.5% times the sale price.  Seller can also pay 6% of your closing cost so you could get into the home for the 3.5% only.  Check out my profile and I can help you.  V/R  Ed
January 08 2010
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I did not get any quotes on my loan request (ZR-XQPPCVQ). Can someone help me figure out why?

Answer
I can recommend a reputable credit repair company or three.
December 29 2009
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WERE IS LOCATED THI HOME

Answer
Now is a great time to buy.  Rates are great, prices down sligtly, and tax rebate is available.
December 29 2009
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I?m looking for agents who have experience, know the area, and are good at negotiating.

Answer
Landa 1,  I can refer you to an agent in the HOU area, give you a 20% deduction in closing cost and get you a 20% rebate from the real estate agents commission.  Whatever you do if you are not happy with your agent you have the right to fire him/her and get a new one.  Depends on any buyers agreement you have of course.
December 29 2009
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We wanted to buy a new home..but

Answer
The best thing you can do is improve your credit scores.  The better the scores the better the rate on your new loan.
December 29 2009
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how many points on the front and back of a loan?

Answer
Also please remember that as of 01/01/10 a GFE will most likely only be provided after you have a signed loan application and a contract.  My total fees between front and back is normally 1.8%  I discount my origination fee to reduce cash to close, which is normally one of the issues with my clients.  I also offer to show my clients my rate sheet and teach them how to use it.
December 29 2009
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forclosure homes

Answer
Not sure of your question but forclosed homes can be purchased at below market prices.  For example:  North central TX, brick, 3 bed, two bath, brick, fireplace, two car garage, 2 acres and went for $114,000 early this year.
December 29 2009
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