Comments on: Yes, Virginia, You CAN Get a Loan in Charlottesville http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/ Tracking Charlottesville's Real Estate Market since 2005 Tue, 16 Mar 2010 21:50:16 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: 5 Real Estate Myths | Real Central VA http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-23843 5 Real Estate Myths | Real Central VA Tue, 27 Jan 2009 12:56:26 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-23843 [...] Myth 3 - You need 20% down to buy a home. We covered this a few months ago. [...] [...] Myth 3 – You need 20% down to buy a home. We covered this a few months ago. [...]

]]> By: 2009 Predictions | Real Central VA http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-20387 2009 Predictions | Real Central VA Sat, 03 Jan 2009 13:00:46 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-20387 [...] We demonstrated in October that loans are absolutely available - but buyers have to be, you know, QUALIFIED - quite a shift from the “a thin file is a good file” mentality of the boom years. [...] [...] We demonstrated in October that loans are absolutely available – but buyers have to be, you know, QUALIFIED – quite a shift from the “a thin file is a good file” mentality of the boom years. [...]

]]> By: Wrapping Up Tuesday’s Radio Appearance | Real Central VA http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-19636 Wrapping Up Tuesday’s Radio Appearance | Real Central VA Fri, 14 Nov 2008 12:27:00 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-19636 [...] Can you get a loan in Charlottesville? Absolutely. [...] [...] Can you get a loan in Charlottesville? Absolutely. [...]

]]> By: Matt Hodges http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-19162 Matt Hodges Tue, 14 Oct 2008 13:18:00 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-19162 65% seems to be the focal point here. I have clients who are closing next week right under 65% debt ratio. Their credit history is excellent and have 50% equity in their home. He has started a small business and income is low, but growing. She is working through her PhD and likewise income is low, but will be significantly higher in the mid-term. They are getting a cash-out refinance to unburden them from debt that will improve their cash flow tremendously. I did not "sell" this to them - they came to me with their plan. I saw the benefits to them (with no real down side to the lender with 50% loan-to-value) and agreed in this instance that it made sense. 65% seems to be the focal point here. I have clients who are closing next week right under 65% debt ratio. Their credit history is excellent and have 50% equity in their home. He has started a small business and income is low, but growing. She is working through her PhD and likewise income is low, but will be significantly higher in the mid-term. They are getting a cash-out refinance to unburden them from debt that will improve their cash flow tremendously. I did not “sell” this to them – they came to me with their plan. I saw the benefits to them (with no real down side to the lender with 50% loan-to-value) and agreed in this instance that it made sense.

]]> By: Jim Duncan http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-19160 Jim Duncan Tue, 14 Oct 2008 13:01:33 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-19160 I would hope that just because 65% DTI loans are available doesn't necessarily mean that they're being written. God help us. I would hope that just because 65% DTI loans are available doesn’t necessarily mean that they’re being written. God help us.

]]> By: Dave Phillips http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-19146 Dave Phillips Mon, 13 Oct 2008 21:29:13 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-19146 I agree with Jimmy, 65% is a surprise. Nice work Jim! I agree with Jimmy, 65% is a surprise. Nice work Jim!

]]> By: jimmy http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/comment-page-1/#comment-19144 jimmy Mon, 13 Oct 2008 12:43:04 +0000 http://www.realcentralva.com/2008/10/13/yes-virginia-you-can-get-a-loan-in-charlottesville/#comment-19144 65% DTI?! Haven't we learned?! Two Illinois banks failed this weekend. Even w/Fed now injecting capital, more "small" and perhaps regional banks are expected to fail.... 65% DTI?! Haven’t we learned?!

Two Illinois banks failed this weekend. Even w/Fed now injecting capital, more “small” and perhaps regional banks are expected to fail….

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