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Home Finance Options in CMH?

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Started 1 year ago by lifeontwowheels
Latest reply from lifeliberty

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lifeontwowheels
Highland West
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Trying to find some basic info on what's out there (loan programs, banks etc.) in CMH for a first time buyer w/ not the best credit looking to invest in a foreclosure/short sale in one of the up and coming neighborhoods. Basically are their places or programs willing to work provided you have steady income, not looking to flip the house for a profit or rent it back out.

Thanks!

Posted 1 year ago #
Chris Sherman
East Franklinton
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if your thinking franklinton holla at jim down at the FDA. may not be a foreclosure but rehabbed and surprisingly affordable.

Posted 1 year ago #
Snarf
Dystopia
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I saw Wells Fargo has a new program offering loans to folks with lesser credit...went something like score 500-579 and 10% down, 580-599 5% down and 600+ the normal 3.5% for FHA loans.

Thought that was pretty fantastic of them.

Posted 1 year ago #
lifeontwowheels
Highland West
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Chris Sherman wrote >>
if your thinking franklinton holla at jim down at the FDA. may not be a foreclosure but rehabbed and surprisingly affordable.

A bit further west and higher on the hill.

Snarf, thanks. I'll take a look at that.

Posted 1 year ago #
dmerkow
Uptown Westerville
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MORPC had some info on programs. There is also the Ohio graduate money (though you'd have to graduate from high school in Ohio and college in the last 18 months).

Posted 1 year ago #
phaedrus
Clintonville / Beechwold
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I had a great experience with Judy Shephard from Priority Mortgage out of Worthington on an FHA.

Posted 1 year ago #
Walker
The KLD / Downtown
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We utilized Huntington's Community Access Mortgage (CAM) when we bought our house a few years ago. It's normally a low-income mortgage, but through a partnership with the City of Columbus, they've opened the ceiling on the income levels to allow anyone access to the mortgage if they're willing to invest in specific areas (I believe Weinland Park, KLD, Franklinton, and Merion Village are those areas, but you'd have to double-check.

More info:

https://www.huntington.com/creative_renovations/

Posted 1 year ago #
lifeontwowheels
Highland West
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Thanks Walker, think I have that book marked now.

Posted 1 year ago #
Walker
The KLD / Downtown
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Just a word of caution... some people at Huntington have no idea what the CAM program is, or the non-low-income extension to certain neighborhoods. The guy we dealt with with our mortgage a few years ago had to do some research on it before proceeding. I was told by someone awhile back it was discontinued, but then just spoke to someone looking at homes in the KLD who was using the program. Not to mention that it's on the Huntington website.

So anyway, yeah... save that bookmark for whoever you talk to at Huntington as well. ;)

Posted 1 year ago #
lifeliberty
Here
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Jamie Sutton knows about the CAM is is awesome to work with https://www.huntington.com/mortgage/jsutton/index.htm

she is who I got my first home loan through when she was with Wells Fargo and she was so awesome to work with that I never considered using anyone else when searching for my 2nd home. she is now with Huntington, is extremely helpful and understanding, and excellent at letting you know your options. she is someone I completely trust to help anyone the best way possible.

Posted 1 year ago #