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Rachel G Dunham

Premier Agent

Broker/Owner (19 years experience)

12 Recent Sales (last 12 months)

Buyer's Agent,
Listing Agent,
Commercial R.E.,
Property Management


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

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How can I get a home: first time home buyer with bad credit low 500s.


You will need to contact a mortgage lender that understands credit reports and can sit with you to review the credit report and then come up with a plan a action to help you clean it up or pay off debts.  This can be very tricky, so make sure that the professional you choose undertands the process.   In some cases, you may have to engage the services of credit repair specialist or attorney.  Every situation is different.  If you want more assistance, feel free to contact me and I can refer you to someone that can help. 

How do you convert residential property into commercial property?


In order for a property to be converted to Commercial, it must meet the zoning guidelines for that specific location.  Take a copy of a tax record or something that identifies the property's legal description, and address, to City Hall or the Zoning Department. 

Is there an FHA debt-to-income restriction, specifically regarding student loans?


FHA, does have debt-to-income restrictions as do most loans. If the loans are in repayment and current, they will be counted.  Unfortunately for you, with an FHA loan, your debts also have to be counted against the debt ratio if you are married..   Since your wife has a nice income, why not use a Conventional loan?  That way your income and debts will not be counted.   You can get a conventional loan with as little as 5% down if the credit scores are above 680You did not mention what the total debts are so its difficult to answer if a lender will give you a loan.  There are several other components that go into finalizing a decision.  Credit, employment, and of course income.  . 

I have a mid score of 623..sad i know. is there anyone out there that will give me an FHA loan? i


Matt,There are a couple of things that you might be able to do to improve your credit score.  Please give me a call and we can discuss your options.  If you are not able to increase the credit score, I have a few lenders that will do FHA loans with your existing credit score but it is a little harder to get the loan, and it requires other conditions.  Feel free to email or call me. .

My uncle is a foreigner and wants to buy a FSBO house. He's going to pay cash. What are the steps?


This is a very delicate transaction and will require the assistance and advise from a few experts.  Attorney, Foreing Tax Accountant, Title Company and possibly others.  When a Foreigner is purchasing  a home in the U.S., that person may have to report income if used as a rental, or gains from the future sale of the property.  The Title company will require for the buyer to sign a document that will need to be sent to the IRS at the time of purchase.