To Own or Not to Own: October 2015

Monday, October 12, 2015

Want to own a home? Need help with down payment?

What is keeping you from owning a home? Don’t have enough money for a down payment? Did you know according to RealtyTrac ®, 87 percent of U. S. Homes qualify for down payment help.

Checkout the following article at http://www.realtytrac.com/news/home-prices-and-sales/down-payment-assistance-analysis-q1-2015/

If you just want to see if you will qualify for down payment help check out the following site http://www.workforce-resource.com/dpr/lopmt/DPC/CATHERINE_SEYBOLD

Then click on my name below and let’s get you into a home! Even if you do not want to live in northern Virginia, I have contacts throughout the U.S. that can help you.

Catherine Seybold
Sales Agent
Coldwell Banker Residential Brokerage
catherine.seybold@cbmove.com
571-510-0456
Military Relocation Professional
Senior Real Estate Specialist

"The postings on this site are my own and don't necessarily represents Coldwell Banker positions, strategies or opinions."

Saturday, October 10, 2015

Want to buy a Home? Have Derogatory Credit? Want ot use a FHA loan?

What's keeping you from moving forward with your dream of owning a home? Could it be that you are unsure if you will qualify for a loan because of past derogatory credit?

If you plan on applying for a FHA Loan the general waiting periods are as follows:

Foreclosures: 3 years or less than 3 years with extenuating circumstances (only some lenders) from the date of completion of foreclosure action *

Bankruptcy (Chapter 7): 2 years or less than 2 years but greater than 12 months with extenuating circumstances from date of discharge or dismissal *

Short Sale/Deed in Lieu 3 years if in default at the time *

Chapter 13: 1 full year of the payout period under the bankruptcy must have elapsed, all payments made on time and the court has given the borrower written permission to enter into the mortgage transaction.*

*Always check with a loan officer, credit report and financial institution. Then contact me to help you find your home.

If you do not qualify for a loan and you still would like to own a home in the future I might have another program for you. Even if you live outside northern Virginia I might be able to help.

Saturday, October 3, 2015

Want to buy a Home? Have derogatory credit? Want to use conventional loan?

What's keeping you from moving forward with your dream of owning a home? Could it be that you are unsure if you will qualify for a loan because of past derogatory credit?

If you plan on applying for a conventional loan the general waiting periods are as follows:

Foreclosures:7 years or 3 years with extenuating circumstances (only some lenders) from the date of completion of foreclosure action *

Bankruptcy: 4 years or 2 years with extenuating circumstances from date of discharge or dismissal *

Multiple bankruptcy filings: 5 years from the most recent dismissal or discharge date when borrower has more than 1 bankruptcy in 7 years *

Short Sale/Deed in Lieu 2 years with maximum loan to value of 80%, or 4 years with maximum loan to value of 90%, or 7 years maximum loan to value per program guidelines or 2 years maximum loan to value of 90% with extenuating circumstances *

Chapter 13: 2 years from discharge date or 4 years from dismissal date or 2 years from dismissal date with extenuating circumstance.*

*Always check with a loan officer, credit report and financial institution. Then contact me to help you find your home.

If you do not qualify for a loan and you still would like to own a home in the future I might have another program for you. Even if you live outside northern Virginia I might be able to help.

Catherine Seybold
Sales Agent
Coldwell Banker Residential Brokerage
catherine.@yourealestateneeds.com
571-510-0456
Military Relocation Professional
Senior Real Estate Specialist

"The postings on this site are my own and don't necessarily represents Coldwell Banker positions, strategies or opinions."