U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
 [Register]
Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 01-27-2012, 04:26 PM
 
Location: New Hampshire
379 posts, read 1,299,034 times
Reputation: 219

Advertisements

A person has a job in place with strong employment history
650+ credit score
10K
VA entitlement certificate

Is financing possible? Are banks accepting short sales etc...with VA financing?

I am hearing it is nearly impossible to get financing in Florida.

Please advise.

Thanks.
Rate this post positively Quick reply to this message

 
Old 01-27-2012, 06:20 PM
 
Location: Palm Island and North Port
7,486 posts, read 20,711,645 times
Reputation: 2830
This is really a question for a mortgage broker. They need to look at your total financial picture. From what you've posted I don't think it would be too hard to get financing but I don't have all the pieces to the puzzle and I'm not a mortgage broker.

I have many short sales pending right now and lately the banks seem to be more willing to work with buyers and sellers.

Give Jeff Ballard at Goldstar Mortgage a call, 954-218-3547. He could probably give you an answer pretty quickly.
Rate this post positively Quick reply to this message
 
Old 01-27-2012, 06:24 PM
 
42 posts, read 90,326 times
Reputation: 31
Not a real estate expert, but we just refinanced our Florida house for a 4% interest rate a few days ago. We bought it 2 1/2 years ago at 5 1/4%. We had no problem financing it and it was a short sale and a second home. Our realtor was Jay Mitchell with Coldwell Banker and he is very knowledgable.
Rate this post positively Quick reply to this message
 
Old 01-27-2012, 06:28 PM
 
518 posts, read 1,094,967 times
Reputation: 213
You will have a hard time competing with all cash buyers with that credit score. I would stick with fannie mae repos since they give want to be owners that will live in the house first crack for 10 to 15 days or so before most investors get a chance to buy with cash. They also have loans to repair the units that you can apply for also. Good luck.
Rate this post positively Quick reply to this message
 
Old 01-27-2012, 07:07 PM
 
Location: Port Charlotte, FL
3,979 posts, read 9,090,342 times
Reputation: 1894
You really need to contact a mortgage broker and discuss your options with them.

Morningstar Mortgage
2256 Jasmine Way
North Port, FL 34287
Joseph Morningstar
morningstar.mortgage@verizon.net
941-426-7827
866-990-7827
Rate this post positively Quick reply to this message
 
Old 01-27-2012, 08:51 PM
 
Location: New Hampshire
379 posts, read 1,299,034 times
Reputation: 219
OK, thanks...doesn't sound too hopeless.
Rate this post positively Quick reply to this message
 
Old 01-27-2012, 10:11 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
3,590 posts, read 5,146,821 times
Reputation: 3477
Is financing possible? Are banks accepting short sales etc...with VA financing?

Some banks are willing to work with VA or FHA buyers on a short sale, but many won't. Some listing agents state the financing terms acceptable in the MLS info, but often you or your agent will have to call up and ask.

Since VA loans require the home to meet specific condition requirements, especially regarding the life expectancy of the roof, you'll also want to keep those requirements in mind when home shopping as home owners in a short sale are usually selling "as is with right to inspect."

Your first step is meet with a mortgage broker of your choice to see if you qualify for financing at this time. If you do, you'll want to get pre-approved vs just pre-qualified so that any offer you make would have more strength with the seller.

For a mortgage broker in the Sarasota area, I would suggest talking to Jeanine Thomas, J Thomas & Co at (941) 809-7484. She has a good track record with working with both FHA and VA buyers & I've always found her to be up front and honest regarding qualifying, loan terms and costs, etc.
Rate this post positively Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top