Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Inspection Central

Real Estate Signs

How To Advertise Here

More Good Ideas!
Content Marketing For Realtors

Branded Content Marketing for Realtors

Build your brand on a Real Estate Site

Topic Options
Rate This Topic
#77379 - 12/16/05 03:10 AM Prevalent financing???

This may be a dumb question, but this was asked on one of my BPO's. The most obvious meaning to me...."is there a type of financing that is most prevalent?" I can't help wondering if it has some more deeper meaning that I am missing. Any comments???

#77380 - 12/16/05 10:08 AM Re: Prevalent financing???
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio
I am not sure myself. It could mean how much or what kind.

Was the property in poor condition?

If so rehab and non-conforming lending.

I think a better answer that may be a qualifying answer would be "It depends on your credit and income type".

Typically investors look for BPO's so if you need some insight on credit scores and which qualifies for what let me know.

#77381 - 12/16/05 12:45 PM Re: Prevalent financing???
Dennis Teasdale Offline

Registered: 12/11/04
Posts: 231
Loc: Midland Texas
I've tried to research this term and my interpretation is type of predominate financing in the subject's pricee range and amount, or alternately adverse financing conditions. I would appreciate it if someone here could provide a better explanation.
Dennis Teasdale
RealtorŪ, GRI

Dennis Teasdale Realtors

#77382 - 12/16/05 01:06 PM Re: Prevalent financing???

It does give a choice for the type of financig, Conventional, FHA, VA, or Other. Then it wants a $ amount. That's the one I'm just not sure of what to put. Guess I need to call some local loan officers and see what I can find out maybe.

I appreciate both of you guys responding. It helps to get the wheels turning and maybe figure it out. eek smile

#77383 - 12/16/05 01:17 PM Re: Prevalent financing???
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio

Conventional is most popular.

FHA and VA cannot be used typically on a property with any structural or cosmetic problems unless is is 203k rehab or the seller will repair the property prior to closing.

#77384 - 12/16/05 02:56 PM Re: Prevalent financing???
Real Deal Offline

Registered: 08/15/05
Posts: 295
Loc: Northville

The answer is always no to that question. This is asked on Countrywide Bpo's and what they are really asking is if you know what all the costs inccured will be including but not limited to seller concessions,prorated taxes, title company costs to the seller, etc.. That question cannot be answered until there is an offer and even then the numbers can change on the day of closing.

#77385 - 12/16/05 03:02 PM Re: Prevalent financing???
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio
Thanks Art. I was not understanding the full meaning of the question myself.

Glad another agent helped!

#77386 - 12/17/05 12:09 AM Re: Prevalent financing???

Yes, Thank you Art. I really needed your help. Glad I put NO!! smile


Residential Warranty Services

Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.

Good Ideas!

Priority Mold Testing

How To Advertise Here

Newest Members
KyProperties, Vincent Vo, Micio, agrestic agent, Sjmnc
27693 Registered Users
Who's Online
2 registered (TRENDS Tony, 1 invisible), 148 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 52
John_Myers 34
David Hunter 26
OahuAgent 21
lucky 18
BMppp5vnG 16
gitmonee 14
LuxuryRealtor 12
Bigtoe 12
robbo33 10
Hunter 308 9 9
ceasetoplease 8
adambond 8
(Views)Popular Topics
No new orders today 10956664
Stupid MLS comments. 2416624
What do you know about Froy Candelario, top agent in USA 815101
Stupid QC comments and BPO requirements. 778964
New HUD Listing Brokers---Any Update? 729708
Is there religious content in Buffini class? 579146
Let's talk about our cars 466178
EML 459222
Pay it Forward - BPO/REO Tips & Tricks I & II 452216
Most common items found at an REO 424853
Name that Flick. Great movie Lines. 358570
Evalonline 300065
asset val seminar in colorado 294256
Land America 285046
Mainstreet 261856
HOMONYMS - There, Their, and They're 206623
assist 2 sell or 1 percent realty? 194979
Main Street 183545
Featured Member
Registered: 09/16/05
Posts: 1208

This site presented by RNC Internet Services