i am a first time home buyershouldi pay for transfer tax and also what is the difference between title searc and title exam,im being charge for both,should i be
thanks g
What state are you buying in? There are three taxes when you buy a home in MD. There are three taxes in MD when you buy. Unless it's new construction or a foreclosure these taxes are split 50/50 between buyer and seller.
They are MD tranfer, county transfer, and county recordation tax. The MD transfer is waived if you are a MD first time home buyer. Regardless of you owned a home and moved to the state the tax is waived. Some counties in MD have their own transfer taxes, some do not. They all have the recordation and it varies on loan amount and county. This answer assumes that you are buying in MD. If not sorry for wasting your time. As far as the title questions yes they are both seperate fees and are normal. An abstractor researches the title history filed with the courthouse. The attorney reviews it and that's the exam portion. I kind of nutshelled it for you but unless the fees are very high there should be no reason for concern. Hope this helps.
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I’m EU citizen and I leave in London.
I only got a temporary job, but I want to buy a house, which I’ll be renting and paying off the mortgage. Is it possible to get mortgage from somewhere, if i only put down 10% deposit?
My bank wasn’t really helpful, they said I need a permanent job and I can’t get a mortgage otherwise.
Please help
Kind Regards
Anna
Is it possible to get a mortgage and buy a home without a down payment. It would be my first home. I dont have perfect credit. The thing is, is i dont even know where to start. I have epilepsy and have a large (untrained) dog that i use for a service dog. Im sick of the whole trailer park and apartment scene and its harder than heck to find somewhere to live that will let me have a large dog. Somehow she knows that im going to have a seizure before i do. Now that im driving again it is vital that i have her. She is a necessity not a luxury. Im desperate to own my own home. Ive heard that there are grants out there for people like me. However i have no knowledge on how to access the paperwork to apply for these. Do you have any info on that? Yours tips would be greatly appreciated.
Hi I was wondering if there is any loan out for a construction to permanent mortgage. We have 1 and 1/2 arce of land and we really want to build. The land is free and clear. Not sure of the credit scores but they are not in the 700's. I also wanted to know if there FHA loans for construction as well Thanks.
I live in Mitchell, SD. I currently have owned my home for about a year and a half. I recently have been looking elsewhere career wise, and if I find a job soon I would be moving. Would it be smarter to sell my house or rent-out? Would it hurt my credit to sell already? How much would I owe the bank if I sold already?
Any information on the matter would be great
I am in the military and am stationed at Fort Stewart, GA. I am being moved back to Mississippi in the summer. I own a home in Richmond Hill, GA that is under contract to be sold to a buyer with a contingency that he sells his home, (which has been a rental property for the last 7 months. His bank says that he will be approved for a my home regardless of a sell in 5 more months. 12 month rental is their policy) Now I have found a great deal on a home in Mississippi. (buying price is 234,000 with a current appraisal of 360,000. It has a seperate guest house that has been rented out for the past 2 years at 650/monthly. But I am having trouble getting a loan for it becasue I have not closed on mine in Georgia yet. I do not want to miss out on this house. Please give some advice to qualify for this home. My credit score is 780.
My credit score is pretty good-high 700\\\\\\\'s. My husbands is mid 600\\\\\\\'s. We have been working on improving his score, i added him to some of my good credit cards, he is paying off medical debt and last week he got a $1000 loan from the bank to show payment history for a personal loan. He does have a released tax lein from a few years ago on his report as well as some late payments. We plan to sell our current home in the next few months which i have financed on my own and want to buy a new home later this year jointly so we can use both our income on the loan. Chase informed me i can add him to the current home loan, if he gets approved. Should we send in an application for him to be added to the current loan if we plan on selling this home in the next few months? Would the benefits of adding him right before we sell be greater than the hit his score will take just by being ran for a mortgage and then ran again for a mortgage later this year when we buy a new home?
We live in Maryland and have a Fixed rate 20 year Mortgage at 5%. We would consider refinancing at a lower rate if very low closing costs are available. We have a sterling credit rating and thus are low risk. Do you have any offerings with low closing costs?
Can I refinance a CDA loan. Been in the house for 3 plus years, have a 6.2 interest rate and would like to refinance. I'm a school teacher and it would be nice to have a lower mortgage payment. The house is underwater by 50,000, have never missed a mortgage payment and plan on keeping the house.
Can you please tell me if there are still interest only mortgage loans? What are the interest rates for a 10/1 Arm? My husband and I are downsizing and am purchasing a short sale for $340K in Manassas. We would be looking for a loan in the amount of $272K.
Thanks for your assistance!
Hi I would like to re-finance an AHMSI ARM underwater mortgage to a fixed rate HARP mortgage on a property I own and currently rent in South Riding VA.
Hi, We are considering purchasing a foreclosure in annapolis MD. Purchase price $630k. We are above the conforming rate of $560 and still require money to renovate. Do you have options that include renovation? We have excellent credit. We are looking to put 10% down. thanks, Melissa Wittke
I live in VA and in the process of refinancing my current mortgage. Nothing on the loan will change as far as owners or co-signers. My GFE states in Block #8 that I am required to pay a transfer tax. The company I'm going through said I may or may not have to pay it, that it was up to the state I live in. Do you know if VA requires this tax for a refinance?
Thank you.
Hello, we will be in the market to refinance but we need to finish the construction on our property now. We had a fire back in 2010 and we were underinsuraned. We are not behind on our payment but we have ran out of money to complete the contruction. We are about $55,000 short of completing the project. The least we would need is $45,000. I can send you copies of some of the receipts that we have already purchased.
Keith and Lorraine Ross
I have 1st mortgage $73500 (fixed 5.5) and home equity line credit of $25,000 (variable interest). Considering refinance. Looking at lower interest rate. I have 10 yrs on lst and 9 years on equity (with option). How do I benefit from combining both?
Looking to refinance out of a hard money loan and place permanent financing on a two unit investment property in 20001 zip. Gross is a fully documented $14k per month and I have fair credit. I'm looking for LTV of at least 60%. No second mortgage on this property. Hard money loan term expires in July.
I have a customer who wants to purchase 6 unit investment property in Atlanta, Ga. Is there an FHA loan that only requires 15% down payment that we can apply for? All 6 units are fully occupied. Building is approx. 6 years old. Purchase price $330,000. Fico score 770.
hello, just filled out online info, have home valued through appraisal at 38,000 would like to leave the table with at least 30,000 for home improvements and small debt reduction. The home is free and clear and all other bills are less than 400/month.
I would like to fast track this loan. what are the options
Curent loan with Chase(held by Fanie mae), 220K -Ist 21K IInd, 240K(appraisal) 6.25 %,Escrow waived, loan self serviced by chase , 760+, 72k ( per year). Refinance offer by CHase 4.25 with 1/2 point + 2.8k closing cost under HARP, IInd loan Heloc to be subortinated only after reducing limit to 10k. Should I accept it in current market when rates are falling. Can any one help with it for better rates or should accept it as the best.
We have an investment condo on Brickell in Miami. Bought in 2006, 20% down on a 40 year old interest only loan through BoA Fanny Mae at a 6% interest rate.
The purchase price was 285000, current values are under 200000.
Our tenant pays 1400 which covers the mortgage but not the $323 HOA monthly fee.
We would like to refinance but BoA and Quickens wont do it as they say that Fanny Mae has a blockade on condo refinance. What can we do in order to get a shorter loan at a much lower interest rate? Are there any other lenders that would be interested?
We are considering building a house and are interested in the construction to permanent loan option. Are there any lenders that don't require at least 20% down payment for these loans? Our income and credit scores are both very good, but it would take us a while to save up 20% for a down payment. We're hoping to find a lender that only requires a 5% down payment. Thanks for your time!
I have a $665,000 mortgage, would like to refinance. I live in Randolph county NC, have a 780 credit score, but my dti is 47%. Are there any FHA loans that I would qualify for?
I'm interested in purchasing a property for the land to build a off-campus student housing mix use building. Can the land be used as collateral or is there another way to approach the financing.
Hi, I am buying a new construction home in Maryland, builder had agreed to give certain amount to closing cost. Now I am in final stage of settling and looking at the HUD statement I see they have included the State Transfer taxes that seller pays for the First time home buyers in the credit towards closing that we had agreed upon, is that right? After some research I learned the seller pays the state transfer taxes for first time home buyers in maryland, so can the builder claim this money towards the credit they had promised? Please help me , asap !!!
I refinanced with Choice Finance (Craig Coleman) many years back and I am looking at refinancing again. I have a $345,000 outstanding balance (home original price is $459,900 in 2006) at 5.75% and am thinking of a 15 or 20-year loan with 0 points. I have an 800+ credit rating. What is the current mortgage rate in HarfordCounty? Can get an estimate of closing costs?
We are a church planning to purchase land and build our church in Silver Spring. Please let us know the requirements to get qualified for e construction to permanent loan of close a a million dollars. My name is Seme Ndzana, member of the church building committee. My email is seme@africanindependent.com
Hello! My hubby and I are looking to build our dream home in Harford County MD. We have great credit and a great income. We just haven\'t saved money for a down payment. We have our VA certificate and were really hoping to find a bank that would allow us a no down payment construction loan. I know it is a long shot but if this isn\'t possible maybe some other ideas to minimize the out of pocket expenses???
If I want to refinance a property, what criteria can be used to determine or verify that it is my primary residence. Also, any advise on selecting which lenders to talk to? Historically, I\'ve stuck with the bank that I initially had the loan with (assuming it would be less hassle) and am feeling like it\'s time to look elsewhere, but no idea where to start? Don\'t want to talk to too many lenders if I can help it, but wondering if I might find better terms and a better fit by going elsewhere. Oh, my whole goal is to lower monthly costs. thanks!
I am trying to get a preapproval letter to purchase a home with a va loan. I have cleaned up my credit but my score is still low. 592.
Is there anyone who will work with this?
Hi, I live and work in South Africa, I am looking to buy a second house in Atlanta Georgia area, I have a 20% down payment readily available. I will be repaying the loan with money earned in South Africa. I have a B1/B2 visa still valid to 2018. The loan amount is 200000 use. Please advise if you can help
Regards
Paul Kloppers
We are thinking about locking tomorrow so quick question. Is it better to keep money in bank accounts or throw it all at credit card? My husband has a high balance on his, Like 9200 with a 9500 limit. Its costing us a point with the chip loan we are using. I could throw like 500 now and next wk on it But would that help his credit enough to make a difference? My score is 722 his is 710. We are scheduled to close in late feb. also, the theory of buying down the rate...that something to consider if we are only staying in the house for less than 5 yrs?
I live in charles county and im refinancing after buying almost 2 years ago. My bank is telling me i may have to pay a transfer tax of ~$3100. Is this correct?
What is your best rate on a no points/no fees 3/1 or 5/1 ARM?
Property location: Cecil County, MD
Credit score: 740+
Down payment: 30%+
Loan amount: $250k
Hi, I currently have a Fixed Rate FHA mortgage. Should my condo complex still be FHA approved if I am only interested in an FHA streamline option?
Thanks!
Hello,
My credit score is in the 500s (as the result of acquiring medical debt while a new employee with no benefits and pay). I am now making $72,500k annually, have job security and I receive rent on an investment property that I own free & clear. Also, I don\\\'t have a lot of debt - my mortgage & $900 credit card balance. My car, which is paid off, requires approximately 3k in repairs and I need about $2,500 in home repairs. I need to get the home repairs so that I can rent it out to Johns Hopkins Hospital Residents/Graduate Students, etc. My credit union only looked at my credit score; not my monthly rental. I would like to know if you service people with similar circumstances. Thank You
HELLO MY NAME IS EBONEE BAKER AND I WAS TRYING TO BUY A HOUSE I WANTED TO SPEAK WITH A LOAN OFFICER BECAUSE I HAVE A FEW QUESTIONS REGARDING GETTING FINANCED THROUGH CDA CAN SOMEONE GET BACK WITH ME I CAN BE REACHED AT 410-497-2903 THANKS
I would like to refinance both my 1st and 2nd mortgage totaling 433,000. I am Carroll County MD so could I go conventional since it is below the Jumbo threshold. Median Credit Score 655, about a 96.5% ltv, would like to finance 30 years to lower payments and apply monthly saving to paying off high interest cards. What options exist? Would PMI have to be paid. I really don\'t have a ton of cash to bring to closing
purchased home in city of fairfax may 2010 with va loan....225,000 5%(SHORT SALE). In Sept 2011 I refianced with VA for 265,000 at 4.5% taking some money out (appraisel was at 365,000). I am looking into VA Interest rate reduction loan. Any info would be appreciated. I have the funding fee waived and am interested in the 6000 energy improvements.
Your website says there is no closing cost to refinance in Washington DC. Is this correct. I\'d like to refinance my property recently appraised at 658k(11/2011) outstanding mortgage $546k(1st $371K + 2nd $175K) what would the rate be and what would the cost be. Thanks.
Do you do loans to non US citizens, I would like to purchase USA property, would like to borrow up to 70% of purchase price. Ideally like to borrow 100000-250000. I am from Sydney, Australia.
My husband and I are planning to buy our first home. We will be using his credit and income. There are nine collection accounts on his credit report that we are going to pay off in the next couple of days. That will leave 2 collections that will remain on his credit report until we pay them in a few months. I tried to get a pay for delete with the collection agencies but they said no. These accounts will be paid in full. Will this better our chance to get approved for a loan? He makes a decent income. We have a car loan and 2 credit cards. We got a small personal loan from our bank to pay for the debts. Any advice will be appreciated.
I like to do 15 yr fixed ..currently I have 30 yrs...My home mortgage is $185,000 with home value of $275000. I am located in Lathrop California 95330. I am looking for best interest rates with zero fee refinance.
Hello. I am in the process of trying to buy a house in DE. I already found a house, and am under contract. The agreed sale price is $115,000. The previous mortgage company I was dealing with screwed me, after I already put money up for inspections and attorneys. My closing date is scheduled for 12/15. I have a credit score in the 635-645 range, which I was told is more then enough for a FHA loan. Can Choice Finance help me with my situation, and would we be able to meet my closing date. I already changed closing dates once.
My husband and I are looking to relocate to Delaware in late January to early February; We are currently living in Ohio. We would love to purchase a home rather than rent when we do move. We would be only putting the home in my husband's name due to my bad credit history. Now, his credit isn't where is should be either and that is where my main question lies. As of right now his highest credit score is 570. I have read that we would need at least a 640 to purchase a home. Can a loan officer help show us what we can do to help raise his score to get it where it needs to be or do we need to go to a credit agency? Also, are there loans that we can get with is low credit score? Any help on this would be great. Thanks
I am looking for someone that will loan to someone with not so good credit. I am looking for about 85,000. I am a veteran. Let me know if you can help. Thanks
I have a VA 4.74% VA loan with a bal. of 186,400. In Feb. 2010 I filed Ch 7 BK and was discharged in July 2010. My credit score is about 625 and my house is underwater at $159,000 value according to the agent who sold these properties. Since I went BK, Citimortgage is not not reporting my payments and basically wrote off the loan. My attorney failed to get the reaffirmation form and that's why my credit report shows 0 bal. due and 0 payments since Feb. 2010. Should I refi and if so can I avoid increasing my bal. other than by adding the VA funding fee which I know I have to pay?
We are interested in doing a Streamline Re-finance of our FHA loan that is currently with another lender. We do not want to obtain cash back, just to see about lowering our current monthly payments. Our current rate is 7.25% with a balance of $164.042.000. We have had this loan with this lender since11/2007 and our history shows no late payments. This is a fixed interest rate loan and we would want to stay with a fixed rate.
My property was appraised at 700,000, I need to refinance my loan of 502,000. The property is located in Montgomery County, MD, single family house built in Dec 2009. What is the best 30 year fixed refi rate I can get with no points?
I own and rent out a condo in DC, which I am looking to refinance. I have only found one lender which advertises even the possibility of refinancing an investment property. Can you provide me with any information on where to look for competitive rates for investment property refinance? I have excellent (800+) credit, and the ability to pay down the existing mortgage to achieve 75% LTV. Thanks.
Could you tell me if there is financing available on doublewides on perm. foundation on 15 acres in Va. We only have a credit score of 654. We would like to do a fha cash out loan to pay off some credit cards and home improvements. Please advise.
What state or county (AA) fees and closing costs can be waived/reduced/avoided in a private sale between parents and children? Parents will be holding the mortgage and children will use it as an investment property?
Dear Sir/Madame
I am an employee of the PG County public school and seeking additional information on the teacher next door program; additionally would like to be pre-qualified for the HUD program. I can be optionally reached at (301) 352-xxxx
Harold Bowens
I am looking to see if I can secure a USDA for about $325k, my top score right now is a 656, I make 75k and another 8k in child support and my monthly costs are about 2500 with 2 cars, rent & cc pmts, I have at least 2 yrs clean payment history,and a judgment for $300 which I can clear, but my utilization is high which Im getting down to about 30% in the next 4 wks. My savings went on medical bills so my options for a down pmt are limited. The property is in 23141. 6 people in house, fiancee makes about 28k, 3 kids under 18, and 21yr old (not working). Can you guys offer any insight? Thanks.
Was just curious on what the current fixed rates were for a va mortgage loan. I'm in Ohio and currently have a 4.75% interest rate and was wondering if it would be worth it to refinance. I was told that there may be no closing costs with a va mortgage loan? Thanks for any info, Andrew Skipworth
Eric--we are interested in a loan to construct an addition to our primary residence. Is this a "construction" loan or a "renovation" loan? My husband and I have excellent credit. How hard it is to be approved for this type of loan.
Thanks,
Mary Andrews
I am looking for a Home equity loan. 90%LTV. My home is valued at $135,000.
My Fico score is 729
Do you have home equity loan for 10years, and if you do what are the closing cost (if any) and rate?
I\'m looking for $55,000-$60,000 loan.
Thanks
Mike
Do you or anyone you know finance Apartment buildings? I am an investor looking to purchase a 10 -25 unit building with existing tennants. I need to get with a lender or bank and get my financing situated. thanks for your help
John
My mortgage was $1,657.73 a month and that includes my insurances and taxes paid out of it as I am on the road all the time working and racing. Fannie Mae a year ago bought the mortgage on October 1st, 2010. I received my monthly bill and it now has gone up to $1,893.52. I checked with the town of Waxhaw, NC and my taxes have not gone up and also with Union County and those taxes have not gone up. My home insurance went up $100.00 more. My Escrow is showing now from $292.00 to $593.00 a month. I am a bit puzzled here. Serterus which handles the collecting the mortgage says that is because they under estimated escrow projection and had to raise it. I have never received a letter are any intent of this. Is this legal and should I look to re-finance my home? The County Tax Office said something does not sound right.
My wife and I would like to rent our current home which is a VA loan and purschase another home in the same city. What are the procedures/requirements in doing this?
I am looking for a construct to perm loan to build a log home in Carol County MD. I need a loan of about 250-270 K Am able to put down 10% This includes cost of land. Have excellent credit rating. Can you help?
What is the current rate for a 30year fixed NO CLOSING COST refi in Silver Spring Md.
Townhouse. 80% LTV. $400,000 principal. High FICO Score.
Thanks for the quote.
Ray
What are your fixed fee closing costs for refinancing a 280k condo in zip code 22203 for a 30 year fixed rate and a 10 year arm? My credit score is 750
Does anyone have a program that allows the number of unit owners who are more than 30 days late on their condo dues, to exceed 15%?? If so, what is the minimum down payment requirement. Is it a portfolio product. HELP!
I would like to use a HELOC to pay off some collections, which would drastically improve my credit. Unfortunately, the banks and mortgage companies I have spoken to all say the collections need to be satisfied before they can give me a HELOC. Now what? If I had the money, I wouldn't need a HELOC.
Thanks!
Can I streamline refinace my non-owner occupied condo? If so, what would my rate be for a 15yr-fixed loan with 1pt? My credit scores are above 730, I have never been late on any of my payments, and the condo fee delinquency rate is less than 15%. The property is located in Howard County, MD.
I am looking to purchase a second home in Florida, USA. Are you able to assist in relation to Foreign National Mortgage Loans and if you are what products are available? Many thanks.
I am looking to purchase a second home in Florida, USA. Are you able to assist in relation to Foreign National Mortgage Loans and if you are what products are available? Many thanks.
Answer #1
What state are you buying in? There are three taxes when you buy a home in MD. There are three taxes in MD when you buy. Unless it's new construction or a foreclosure these taxes are split 50/50 between buyer and seller.
They are MD tranfer, county transfer, and county recordation tax. The MD transfer is waived if you are a MD first time home buyer. Regardless of you owned a home and moved to the state the tax is waived. Some counties in MD have their own transfer taxes, some do not. They all have the recordation and it varies on loan amount and county. This answer assumes that you are buying in MD. If not sorry for wasting your time. As far as the title questions yes they are both seperate fees and are normal. An abstractor researches the title history filed with the courthouse. The attorney reviews it and that's the exam portion. I kind of nutshelled it for you but unless the fees are very high there should be no reason for concern. Hope this helps.