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looking for a home remodeling loan

my income with my husband is 300k and our home value is approx 900k. our credit scores are 710 combined but we did have a short sale 3 years ago by countrybby77716 from Robbins, Tennessee. Jun 19th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Much more info would be needed.. you have a home worth $900K, but is there a balance? If so, how much? with a short sale, you can only get FHA financing, and your maxed out at $271,050 loan amount.. and you will have to pay an upfront MI charged (which can be financed) and monthly MI regardless of your loan to value. If you need more than $417K then you are in the Jumbo market, and most all jumbo lenders will not lend to you if you have a short sale, foreclosure or BK on your credit report. you'll have to wait a total of 7 years.. There might be a local credit union or community bank that would consider doing a 2nd with you, but again, without more info, it's difficult to advise you.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jun 19th 2015
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Nancy J Releford (nancyreleford)
#1 ranked lender in Tennessee - 214 contributions

i am located in Murfreesboro TN, give my office a call on Monday to discuss & review your situation.ThanksNancy Releford615-867-3060

Jun 19th 2015
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Lisa Brandon (lisa@justintimeloans.biz)
#1113 ranked lender in California - 10 contributions

Hello my name is Lisa Brandon. I am with Just In Time Loans, a direct Lender. We can give the remodelling loan. Please send your loan scenario to lisa@justintimeloans.biz or call (415) 439-0170. We would be glad to do business with you.Thank you.

Jun 19th 2015
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Korene Clopine-Seaman (korene)
#70 ranked lender in Arizona - 83 contributions

You should be able to obtain either a FHA 203(k) loan or depending on the circumstances of the short sale, you might be able to obtain a conventional renovation loan. There are a number of very qualified mortgage officers in Tennessee that would be pleased to help you. Check them out at http://www.nmlsconsumeraccess.org Thank you for the opportunity to be of service to you.Korene Clopine-Seaman, NMLS 218520, Branch Manager/ Senior Mortgage Originator, Geneva Financial LLC , 15396 North 83rd Ave., Suite F-101, Peoria, AZ 85381, Equal Opportunity Lender 623-340-0934

Jun 19th 2015
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