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Rent vs Buy : Nationwide Real Estate Advice

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  • Local Info59K
  • Home Buying255K
  • Home Selling42K
  • Market Conditions26K

Activity 1,391
Mon Feb 20, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

If you would like I may be able to help see what you would be pre approved for ?

We have programs that you can qualify for with as low as a 580 credit score. I can lend nationwide.

You can contact me through my profile if you have any questions or would like help.
... more
0 votes 2 answers Share Flag
Thu Feb 16, 2017
Ernest Avery asked:
I AM WAITING ON MY SSDI WHICH I HAVE BEEN APPROVED THEY SAY END MARCH OR APRIL FOR BENIFITS TO BEGIN I DO GET PAYED FOR THE MILITARY FOR MEDICAL CONDITION PLEASE CONTACT ME AT (401)206-8659…
0 votes 0 Answers Share Flag
Wed Feb 8, 2017
Michael Nolen answered:
Hi Wayne,

It seems you've been thinking about buying real estate in Ocean City, MD for a awhile. If you're really considering your options, you should be patient and get a feel of the market. The best way to accomplish this is to start getting listing notifications that are tailored and continually modified as your interest change. You should work with a Ocean City, MD RealtorĀ® to help you.

You should also start touring properties. Visit open houses, ask questions to your agent, and visually see your future home.

Your best action is to start getting connect with experienced local resources. I'd love the opportunity to guide you to own a beach place.

Great post!

Michael Nolen, RealtorĀ®
Condominium Realty, LTD
(410) 390-2032
(410) 524-6400
... more
0 votes 1 answer Share Flag
Wed Feb 8, 2017
Brenda McLaughlin answered:
WARNING: I received a phone call from someone looking for a Rent to own house. They called on one of the listing I have at 5530 Scottwood Drive in Paradise. This was listed on the MYRenttoown website. It is a fraud. When I called the first time and explained that it is a fraudulent posting the customer service rep hung up on me. I called back today to let someone else know. I gave the address and let them know this house is only for sale. The customer service rep let me know that you have to register to go on the site. I told her that's good than they should be able to see who posted the listing and turn them in. I gave them my name and web address so they could see I am really an agent with that listing. Beware of rent to own or Fraudulent for rent posting. I had one a couple years ago that some put on craigs list along with all my pic's and said it was for rent. They told the potential renter not to call me since the seller was going to fire me. It was a crazy low rent with all utilities paid. If it looks too good to be true.....well you know. Always call the listing agent if something doesn't seem right! ... more
1 vote 13 answers Share Flag
Wed Feb 8, 2017
Ernest Avery asked:
prefere rent with option to purchase in Johnston ri 02919 have my certificate of eligiabilty from the veterans affair for housing, please contact me at 4012068659 or email avery698305@yahoo.com,…
0 votes 0 Answers Share Flag
Thu Feb 2, 2017
Staceylee55sss answered:
How does the rent to own home program work in calif, ie credit score time allowance down payment,ect.
1 vote 7 answers Share Flag
Tue Jan 31, 2017
Luz Herrera answered:
Hi im looking for a 3bedroom apartment in the Bronx with cityfeps program it pays 1956 and i also have an income of 2011 monthly please feel free to contact me at 3473407224 or at Lucyherrera7409@Gmail.com
Thank you
... more
0 votes 4 answers Share Flag
Mon Jan 30, 2017
Meena Gujral answered:
Hello Janet,

Yes, you can search multiple locations at once. I would suggest that you find a good Realtor in your area and tell them what you are looking for; price and criteria. Let the agent set up the search from the local MLS and you can get properties as they come on the market

Meena Gujral
Broker/Realtor
Help U Sell Achievers Realty
Full Service, Big Savings. The Experts Next Door
925-425-9491
BRE# 00950378
... more
0 votes 2 answers Share Flag
Mon Jan 30, 2017
Sheryl Arndt answered:
Lease with option to buy are risky and usually require a 10% or more non refundable deposit as well as other fees. You may already qualify for traditional FHA financing with 10% down from a minimum 500 fico score.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

The purchase in 95448 zip code start from 325k for 3bd 2ba condo. Do you have down payment and closing costs or do you need down payment and closing costs assistance? You would need a minimum 620 fico score to qualify.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 2 answers Share Flag
Mon Jan 30, 2017
Sheryl Arndt answered:
The sellers pay the agent fees. Lease with option to buy are risky and usually require a 10% or more non refundable deposit as well as other fees. You may already qualify for traditional FHA financing with 10% down from a minimum 500 fico score.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

The purchase in 91730 zip code start from 172k for 1bd 1ba condo, 200k for 2bd 2ba condo and the single family homes start from 305k for 3bd 1ba home.

Do you have down payment and closing costs or do you need down payment and closing costs assistance? You would need a minimum 620 fico score to qualify.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 2 answers Share Flag
Mon Jan 30, 2017
Sheryl Arndt answered:
Hello Janet, sorry that no one answered you quickly. Is Fairfax the only city of interest or are you considering any other cities? It may not be easy to find many choices to consider.

The rentals in Fairfax start from $1,750 for 1bd 1ba and from $2,050 for 2bd 1ba apartment and they don't mention pet policies. The inventory is quite low. You should check with the local rental management companies.

The purchase in Fairfield start from 775k for 2bd 1ba single family home as the inventory is quite low currently.

You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Thu Jan 26, 2017
Barbara Johnson asked:
Tue Jan 17, 2017
Biocodes answered:
I've been trying to find a way to make extra money over the past year . Did some Binary Option trading . Not very good results . Now I'm looking for Real Estate Trading on line . Found this company Ownbrinx.com . As of this writing don't know much about it or how it works . Let me know if you or someone you know Know something about it . Thanks , Your Help would be greatly appreciated . ... more
1 vote 14 answers Share Flag
Fri Jan 13, 2017
Jennifer Anne Ray-Mitchell asked:
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