Profile picture for Jeff Derp

Jeff Derp

Agent

14 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Short-Sale,
Purchase Loan

Advice

  • (25 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

What is the current score needed to secure a home mortgage?

Answer

Good news . You're almost there. You need a 640 to qualify. Contact your mortgage officer and ask him how to up your score a little bit. They have ways and contacts that can increase your credit score it will take 30-60 days but it is a great way to get you to the 640 score needed.

  (0)
How soon can I buy after a short sale?

Answer

Rod,The quick answers are as follows: After a short sale the borrower can not borrow again for 2 years. With a foreclosure the borrower cannot borrow again for 7 years. So the short answer for your short sale is 2 years and 1 day. That's when you can go to the settlement table with a new mortgage assuming you get approved. You may pay a slightly higher rate b/c of the previous short sale but I'm not positive about that. Best of luck.

  (0)
Houses for rent Boca Raton Florida

Answer

Michael.If you're looking for a way to find rentals in Boca, just contact a local real estate office and they can let you know what's out there. Also craigslist.com is a great way to find rentals in your area.

  (0)
Could a rehab loan be the way to go when purchasing a foreclosured fixer-upper needing major repair?

Answer

Absolutely yes! The 203k loan is very effective and the best way to renovate because it doesn't tie up your cash. In the Philadelphia area the only issues we've run into is choosing the right contractor. Make sure you use someone who is bonded and insured. The bank actually makes sure of this for you at application process because they want to make sure the contractor is legitimate before they commit to lending the money.

  (0)
i want to buy a forclosed home. how?

Answer

cindy,your best bet is to contact a local realtor that can assist you with the process. you will most likely have to talk with a bank as well to see whether or not taking an existing mortgage over. It's not possible in every scenerio. Best of luck.

  (0)
Closing cost on a new house

Answer

It's really difficult to get an exact figure but you should estimate 3-3.5% of the sales price for your closing costs. The lender and realtor should be able to provide you with a close figure. The lender will calculate your real estate taxes, and any other fees involved to get your closing cost number.

  (0)