Best answer:

Answer by Real Estate Guy
read this article. It should explain http://www.washingtonpost.com/wp-dyn/content/article/2008/04/11/AR2008041101914.html

What do you think? Answer below!

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I also filled out the offer contract today and faxed it to my Realtor for her to take care of the rest of the process. About how long should it take to get the seller’s response to it?

Best answer:

Answer by Cristina V
1) Usually 30 days, though you should get a commitment from the lender before that.

2) Depends on the seller. Banks can take up to 3 weeks to return an executed contract. An individual seller usually around 48 hours but often sooner.

What do you think? Answer below!

The Hindu Business Line : Banks step up retail loans
Retail lending by the country’s banks is back with a bang with nearly a 15-fold increase last year, if the RBI data are anything to go by.
Read more on The Hindu

Best answer:

Answer by wizjp
Try the FHA

Add your own answer in the comments!

Dallas, Texas (PRWEB) September 16, 2008

Texas Mortgage and Refinance, an experienced mortgage brokerage firm, launched its new company website in July of this year. The website offers the lowest interest rates in Texas, along with experienced Texas mortgage broker specialists who provide fast service for Texan homeowners and home buyers.

Texas Mortgage and Refinance offers Texans the opportunity to find Dallas mortgage loans, to refinance their current Dallas home loan and to consolidate their debts. Having been in business for several years, this Dallas mortgage lender is noted for the low interest rates they offer and the superior service they devote to each client. Their Dallas mortgage offerings are developed keeping in mind their goal of helping Dallas consumers purchase homes.

Providing low Dallas mortgage rates to their customers is Texas Mortgage and Refinance’s number one goal. In order to achieve this goal, they offer a free online consultation service, allowing interested parties to enter information that Texas Mortgage and Refinance then uses to make a rate quote customized to the client’s needs.

Texas Mortgage and Refinance also specializes in Dallas mortgage loan refinancing. Analyzing recent market trends for a falling Dallas mortgage rate, Texas Mortgage and Refinance leverages that knowledge of interest rates into Dallas, Texas mortgage restructuring so that home owners can save money over the life of their home loans.

Debt consolidation can also occur at the same time a client refinances their Dallas home loans with an experienced Dallas mortgage broker at Texas Mortgage and Refinance. Faced with a money crunch caused by the overuse of credit cards, homeowners look to Texas Mortgage and Refinance for their high level of customer service in producing refinance options that allows them to take equity out of their homes and use it to pay down credit card and other debt. The expertise that the brokers at Texas Mortgage and Refinance bring to this task is highly valued by their satisfied customers.

The high level of customer service that one receives in person is equally applied to the online applications received by Texas Mortgage and Refinance. Offering the lowest rates for Dallas home loans, fast service, years of experience, debt consolidation and refinancing, Texas Mortgage and Refinance provides professional service by looking out for their client’s best interests in every real estate financial transaction.

About Texas Mortgage and Refinance:

Texas Mortgage and Refinance is a Dallas, Texas mortgage lender offering the lowest interest rates in Texas and serving the greater Texas area. They offer home loans, refinancing and debt consolidation.

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Related Mortgage Press Releases

Michael Bolton: banks must give up fast-track liar loans
Michael Bolton says investors will never have the confidence to buy UK mortgage backed securities while banks persist in trying to save “fast-track liar loans” from the regulatory axe.
Read more on Mortgage Introducer

(PRWEB) June 23, 2005

Original Mortgage Source, a Christian owned and operated online home mortgage and life insurance firm, has created a For-Sale-By-Owner Program for homeowners who want to sell property without paying a realtor commission.

Timothy A. Primavera, President of Original Mortgage Source, said, Â?Our first goal is to help the homeowner sell property hassle-free. We will structure the sale in a way that will yield the seller what they want and get the buyer in the property with little to no money down. It is a win-win situation for everyone.Â?

The For-Sale-By-Owner program will help a homeowner sell property by listing the property on the Original Mortgage Source website. The property will remain listed until it is sold or the homeowner chooses to remove the listing. Original Mortgage Source further aids homeowners to sell property by giving them unlimited words to describe the property and space to include several pictures of the property on the website.

Original Mortgage Source also offers the best home warrantee to sell property on the market, and will include all closing costs in the property purchase price.

The For-Sale-By-Owner Program is available to any homeowner who meets the following qualifications:

They want to sell property

They want to avoid paying a realtor commission

They want to have a hassle-free transaction

For further information about the Original Mortgage Source home guarantee or to arrange to sell property on the website, call 800-262-5950. The properties currently listed with the For-Sale-By-Owner program can be viewed at www.OriginalMortgageSource.com. Original Mortgage Source also offers home mortgages and life insurance products in addition to helping homeowners sell property.

About Original Mortgage Source, LLC

Original Mortgage Source, LLC was founded in 1998 by Timothy A. Primavera, Sr. It is a Christian owned and operated company dedicated to providing the best mortgage solution to help the customerÂ?s needs. Original Mortgage Source is a member of the Cleveland Better Business Bureau (BBB), the National Association of Mortgage Brokers (NAMB), the Ohio Association of Mortgage Brokers (OAMB) and the Ohio Farm Bureau Federation (OFBF).

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Press Release Optimization for Search Engines by Xeal Inc.

(PRWEB) September 20, 2004

New home search is made easier with a loan pre-approval that lets you know the maximum mortgage obtainable.

With pre-approval, real estate agents are more inclined to work with you, and show homes in the specific price range of your maximum mortgage. Sellers and listing agents also take your offer more seriously if you are already pre-approved for a loan.

GoldMedalMortgage.com is a nationwide home mortgage loan company. With offices and affiliates nationwide they offer debt consolidation, home equity, FHA and home improvement loans. First time home buyer programs available.

For more information call 866 398 4664 or please go to:

http://www.goldmedalmortgage.com

We find many first-time borrowers confuse being Â?pre-qualifiedÂ? with Â?pre-approved.Â? Pre-qualification is a casual process, where we can tell how much you may borrow based on income, existing debt, and cash down payment.

A pre-qualification may be a form letter or personalized, but will contain disclaimers to protect us in case you fail to qualify. Some real estate agents feel that pre-qualification letters say little more than you have contacted a mortgage company. Before a lender will make the loan, a formal loan application will be required.

In contrast, pre-approval letters have far more validity and indicate to the seller that you have passed the credit check and have preliminary loan approval. To obtain pre-approval you formally apply for a loan and submit all the relevant documentation to us. We will verify this information and credit is checked, then we will arrange for a lender to agree in writing to make the loan to you. The loan will be subject to a satisfactory property appraisal and title search.

A formal loan process is an eventuality, so we recommend obtaining a loan pre-approval in advance. By doing this, you can avoid the disappointment of making offers outside your price range, and get more cooperation from agents and sellers.

About GoldMedalMortgage.com:

GoldMedalMortgage.com is a nationwide home mortgage loan company With offices and affiliates nationwide they offer debt consolidation, home equity, FHA and home improvement loans. First time home buyer programs available.

For more information call 866 398 4664 or please go to:

http://www.goldmedalmortgage.com

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Related Loans Approval Press Releases

RALEIGH, NC (PRWEB) July 9, 2006 -–

Michael G. Carlton, president of Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, has announced that Jonathan Taylor has been selected to lead the bank’s Raleigh offices. As Raleigh city executive of Crescent State Bank, Taylor will be based out of the bank’s loan production office at 4601 Six Forks Road but will also manage the office at 6408 Falls of Neuse Road.

Formerly city executive at Crescent State Bank’s Cary location, Taylor’s new responsibilities include development of the bank’s presence in the Raleigh market, operations of the bank’s Raleigh offices and all future growth. Taylor will oversee staff activities and maintain quality control throughout the Raleigh area.

With ten years of banking experience, Taylor received both his BS and MBA from Appalachian State University and is active in many civic and community organizations. He is a board member for the Banking and Finance Committee at Appalachian State University and is an active member of the Boy Scouts of America.

“As a Crescent State Bank executive, Jonathan has already had a positive impact on our success and growth,” said Carlton. “Even though Cary is our home, we see Raleigh as a great place to grow. Jonathan’s banking expertise, combined with his understanding of our organizations community values, will help our bank succeed in its growth plans.”

About Jonathan Taylor:

Jonathan Taylor, a native North Carolinian originally from Statesville, has ten years of successful banking experience and received both his BS and MBA from Appalachian State University in Boone, North Carolina. As City Executive of Crescent State Bank, Taylor directs all commercial and retail bank operations, manages the operations of the organization’s offices, and oversees the activities of the commercial lenders. He is married and presently resides in Cary. Taylor is active in a number of local civic and community organizations, including the Cary Chamber of Commerce and Cary MacGregor Rotary Club. He is a board member for the Banking and Finance Committee at Appalachian State University. As an active member of the Boy Scouts of America organization, Taylor earned his Eagle Scout recognition, the highest advancement rank in Scouting, in 1988 and was recognized for his skills in leadership, service, and outdoor activities.

About Crescent State Bank:

Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank opened in December 1998 to cater to the financial needs of the communities it serves. The bank has total assets of approximately $ 445 million, deposits of approximately $ 350 million, and loans of $ 351 million as of March 31, 2006, with ten full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Raleigh and Pinehurst, North Carolina.

Information in this press release contains “forward-looking statements.” These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial Corporation’s recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.

Patty Briguglio

MMI Associates, Inc.

7406-H Chapel Hill Road

Raleigh, NC 27607

(919) 233-6600 • (919) 233-0300 (fax)

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(PRWEB) December 30, 2005

American small business owners can learn how to take advantage of the federal government’s small business loan programs at http://SmallBusinessCenter.com.

The process of getting a government business loan is fairly simple. The business owner submits a loan application to a participating lender for initial review. A copy of the application and a credit analysis are forwarded by the lender to the U.S. Government’s Small Business Administration (SBA). Following SBA approval, the lending institution closes the loan and disburses the funds.

Start-up and existing small business may use the loan proceeds to:

expand or renovate facilities;

purchase machinery, equipment, fixtures and leasehold improvements;

finance receivables and augment working capital;

refinance existing debt (under some circumstances);

finance seasonal lines of credit;

construct commercial buildings; and/or

purchase land or buildings.

Congress created the SBA in 1953 to “aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns.” Since its founding on July 30, 1953, SBA has delivered about 20 million loans, loan guarantees, and other forms of assistance to small businesses.

In 2005, the SBA guaranteed 88,912 small business loans through its flagship 7(a) business loan program for a total of $ 14 billion, a 23% increase in the number of business loans compared to the previous year. In the Certified Development Company loan program, also known as the 504 program, 8,979 loans were made for $ 4.9 billion.

Business loans to women were up 39% over 2004. Loans to African Americans were up 41%. For Hispanics, the increase in loans was 19% and for Asians it was 17%. Women received $ 3.3 billion in government small business loans, representing 17% of total dollars, an increase of 27% over the previous year. Minorities received $ 5.8 billion in small business loans, representing 31% of total dollars, an increase of 26% over the previous year.

Small businesses turned to the U.S. Small Business Administration for commercial financing in record numbers in 2005, securing 97,891 small business loans through its two main small business loan programs, setting a loan volume record for the fifth consecutive year. The figure is more than double the number of small business loans made in 2000.

“This is fantastic news for small businesses and we’re very pleased with the results our two main loan programs showed in 2005,” said SBA Administrator Hector V. Barreto. “This positive growth trend means that the President’s mission of providing an economic environment in which entrepreneurs can succeed is working. It is further evidence that small businesses are continuing to power the economy and create jobs. It’s also a positive thing for the taxpayers,” Barreto added. “In 2004 it cost $ 100 million in government dollars to operate the 7(a) program. In 2005, modest fees paid by the lenders and borrowers have allowed us to meet the extraordinary demand for these loans and dollars without taxpayer expense. We’re proud these cost-effective programs have been a win-win for small businesses and the American taxpayer.”

Be sure to check out http://www.SBASmallBusinessLoans.com for more detailed information on how to take advantage of various government programs and services for small businesses.

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