AGF Mortgage, Inc.

   Since 1993                                 (816) 361-9988 or (800) 930-4243

 9140 Ward Parkway, Suite 110  Kansas City, Missouri  64114        

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No Cost Pre-Approval

 

 Call for rates and no cost pre-approval

We have been providing our superior services to our customers in Kansas and Missouri since 1993.

The list below are what you need to know to buy home from foreclosure list in Kansas and Missouri.

   (816) 361-9988 Or (800) 930-4243

     
 

 

 

 

 
 

  Loan for foreclosed home

   

Is loan available for a home on foreclosure list?

Is the down payment on a foreclosed home different than regular purchase?

How much could seller  pay toward closing costs?

How soon can the loan  be closed?

Can we get  pre-approval?
 

Things you need to do

 

Visit the area where the foreclosed home is located

 Inspect  the home

Check the price of other  houses in the same subdivision

Estimate upgrading costs before offering purchase price

   
 

Conforming Loan Rate for Primary Home

Term Fixed

Rate

Origination

APRS*

30 Yrs

4.500

0.000

4.542

20 Yrs

4.250

0.000

4.306

15 Yrs 4.000 0.000 4.072
15 Yrs 4.250 1.000 4.320
On 07/26/2010 based on $250K  score of 740 or More, For others Please call at :
816 361-9988 or 800-930-4243

*APR numbers are based on the assumption that loans will be closed at the end of the month.

NMLS ID 248278, KS  No. MC.002312 & MO  No. 10-063
   
 
 

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Loan on fore- closed home

Does any of the homes on the foreclosure list qualify for home loan?

Yes, only if property is in good condition.

Some homes on the foreclosure list in Kansas and Missouri are in good shape and the previous owners have kept their homes neat and clean with no structural damage. If you find that type of home, then that property will qualify. However, some of the foreclosed homes are not in good condition and are in need of  major repairs before the loan closes. Since most of the homes on the foreclosure listing are owned by banks or other financial institutions and they are normally not in a position to repair, therefore they want to sell the home as is. One way to buy these properties is to buy them with cash, then repair, and refinance.  For this purpose, we offer home equity line of credit on your primary home if you have enough equity.

 
 

Down payment on a  foreclosed home

Is the down payment on a foreclosed home different from other purchases?

No.

Down payments for the homes on the foreclosure list are treated the same as in regular purchases, depending on your credit. The better your credit, the lower the amount of down payment. With good credit, you could get a loan with 5% down payment for a primary home and with 10% down payment for an investment property up to 2 units.

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How much can seller pay toward closing?

 

Can seller pay the closing costs on a foreclosed home?

Yes.

The amount of seller's contribution toward the closing costs and prepaid items depends on the loan program and the percentage of the down payment. If the down payment is between 0 and 5%, then some programs limit the seller's contribution to 3%, but if the down payment is 10% or more, the seller's contribution could be up to 6%. However, it can not exceed the actual closing costs and prepaid items.

 

The amount of seller's contribution toward closing costs of an investment property is limited to2% regardless of the down payment.

  Property Tax 2 to 3 months
  Hazard Insurance 14 months
  Pre-paid Interest 1 to 25 days

When we pre-approve the loan, we will give our borrowers the estimated pre-paid items along with the closing costs within $100 of the actual costs.  For more details, please call 800-930-4243

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How long will it take to close the loan on a foreclosed home?

How long will it take to close a loan  on a foreclosed home?

On our side, it takes about 2 to 3 weeks, if you provide all the required documents in a timely manner. But, some of the banks or financial institutions from which you are buying a home that is on the foreclosure list, require some time for processing. On several  occasions, we had our documents ready, but the seller was not ready. Specially, in  cases when you buy from HUD, more time is needed for processing.

Can I be Pre-approved?

Can I be pre approved to buy foreclosed home?

    Yes

But pre-approval will be based on an acceptable appraisal. If the appraiser or the inspector recommends that certain items are in need of repair, then we will not be able to close the loan until the appraiser re-inspects the property and re-issues a satisfactory report. Call for more details if you are buying a foreclosed homes in Kansas or Missouri.

                                                                                                                                                                                 

A Few Helpful Tips

Tip #1 Don't buy what you have been qualified for. Buy what you can really afford. After you close the loan, you are the only one responsible for the payments, not the loan officer. 

Tip #2 If you are short of cash for closing, ask the sellers if they are willing to pay all or part of your closing costs.

Tip #3 Don't get Option Arm Loans. Those could be disastrous and could ruin your credit if you are not careful.

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Area where the foreclosed property is located

Area where the foreclosed property is located

It is very important to see in what area the property is located. You may find two properties on the same street within 5 blocks of each other, one selling for $120,000 but the other selling for twice as much because they are in two different subdivisions.

                                                                                                                                                                                                           

Inspect the Property

Inspect the  Property

Thanks to new technology, these days you could find answers to most of your questions through Google! But, unfortunately you will not be able to see how sound the foundation of a foreclosed property is unless you physically see the house!  So,  if you are not in a position to see the building, it is better to hire an inspector. A few hundred dollars inspection fee will save you big in the long run.                                                                                                                                                                                                    Back to List

Loan on Commercial Property

Loan on Commercial Property

States that we provide commercial loans are: AL, AK, CO, CT, DE, GA, ID, IN, IL, IA, KS, KY, LA, ME, MD, MA, MI, MO, MT, NH,  NC, NE, NM, OH, OK, OR, PA, SC, TN, TX, UT, VT, VA, WA, WV, WY

 

   For Commercial loans visit AGF Commercial Loan           Back to list

Check the price

Check the Price

When purchasing a home that is on the foreclosure list, to find out whether you are getting a good deal, add the cost of all the upgrading that you are planning to do on the house to the purchase price. Then compare to the price of a similar house that has been sold in the same subdivision in the past twelve months.

Estimate the cost of upgrading

 

Estimate the Cost of Upgrading

It is a good idea to estimate the cost of upgrading item by item before you purchase the property. If it is your first time, you may need to get some advice from the professionals or from the people who have done this before. Sometimes the cost of upgrading comes to much higher than you had anticipated!      

AGF Mortgage, Inc. is licensed in KS and MO. Missouri  Registrant NO. 06-063 and Kansas License Registrant NO. MC.0002312

We offer our services to all the cities of Kansas and Missouri including list below:

Arnold,  Arrow Rock,  Ashland,  Aurora,  Ava,  Ballwin,  Belton,  Bethany,Black Jack,  Blue Springs,  Bolivar,  Boonville,  Bourbon,  Bowling Green,  Branson,  Brentwood,  Brookfield,  Brunswick,  Buffalo,  Butler,  California,  Camdenton,  Cameron,  Cape Girardeau,  Carl Junction,  Carrollton,  Carthage,  Caruthersville,  Cassville,  Centralia,  Chesterfield,  Chillicothe,  Clayton,  Clinton,  Columbia,  Crestwood,  Creve Coeur,  Cuba,  Dexter,  Eagleville,  East Prairie,  Eldon,  Ellisville,  Eureka,  Excelsior Springs,  Farmington,  Fayette,  Fenton,  Festus,  Florissant,  Forsyth,  Fort Leonard Wood,  Fulton,  Granby,  Grandview,  Greenview,  Hale,  Hallsville,  Hannibal,  Harrisonville,  Hazelwood,  Hermann,  Higginsville,  Hillsboro,  Hollister,  Houston,  Malden,  Manchester,  Mansfield,  Maplewood,  Marceline,  Mark Twain Lake,  Marshall,  Maryland Heights,  Maryville,  Mexico,  Moberly,  Monett,  Mongomery City,  Monroe City,Mount Vernon,  Mountain Grove,  Mountain View,  Neosho, Nevada,New Franklin,   New Haven,  New Madrid,  Nixa,  Noel,  North Kansas City,Oak Ridge,  Odessa,  O’Fallon,  Olivette,  Osage Beach,  Owensville,  Ozark,  Pacific,  Paris,  Park Hills,  Parkville,  Parma,  Perry,  Perryville,  Piedmont,Platte City,  Pleasant Hill,   Poplar Bluff,  Raytown,  Republic,  Richland,  Richmond,  Richwoods,  Rock Port,  Rolla,  Saint Ann,  Saint Charles,  Saint Clair,  Saint Genevieve,  Saint John,  Saint Joseph,  Saint Louis,  Saint Peters,Saint Robert,  Salem,  Salisbury,  Savannah,  Sedalia,  Sikeston,  Slater,  Smithville,  Springfield,  Sturgon,  Sullivan,  Sunrise Beach,  Theodosia,  Tipton,Town & Country,  Trenton,  Troy,  Union,  University City,  Vandalia,  Versailles Warrensburg,  Warrenton,  Warsaw, Kansas, Missouri, Washington,  Waynesville,  Webb City,  Weldon Spring,  Wentzville,  West Plains,  Weston,  Whiteman AFB,  Wildwood,  Wright City. Kansas Abilene,  Agra,  Alden,  Aliceville,  Alma,  Almena,  Altamont,  Alton,  Andover,  Angelus,  Anthony,  Argonia,  Arkansas City,  Arlington,  Arnold,  Ashland,  Atchison,  Atlanta,  Attica,  Atwood,  Axtell,  Baldwin City,  Basehor,  Baxter Springs,  Beeler,  Belleville,  Beloit,  Belpre,  Bentley,  Bern,  Bird City,  Bison,  Blue Rapids,  Bonner Springs,  Brainerd,  Bremen,  Brookville,  Bucklin,  Buffalo,  Buhler,  Burden,  Burlingame,  Burlington,  Burr Oak,  Burrton,  Bushton,  Caldwell,  Cambridge,  Canton,  Cassoday,  Cawker City,  Cedar Vale,  Chanute,  Chapman,  Cheney,  Chetopa,  Cimarron,  Clay Center,  Clearwater,  Clifton,  Coffeyville,  Colby,  Columbus,  Colwich,  Concordia,  Council Grove,  Countryside,  Courtland,  Crystal Springs,  Cunningham,  Dalton,  Damar,  Danville,  Delphos,  Denmark,  Derby, Dexter,  Dodge City,  Downs,  Dresden,  Durham,  Edgerton,  Edwardsville,  El Dorado,  Elk City,  Elk Falls,  Elkhart,  Ellinwood,  Ellis,  Ellsworth,  Emporia,  Enterprise,  Erie,  Eskridge,  Eudora,  Eureka,  Florence,  Fort Riley,  Fort Scott,  Fowler,  Frankfort,  Fredonia,  Freeport,  Frontenac,  Galva,  Garden City,  Garden Plain,  Gardner,  Garnett,  Gas,  Gaylord,  Geneseo,  Girard,  Glasco,  Goessel,  Goodland,  Gove,  Grainfield,  Great Bend,  Greensburg,  Grenola,  GrinnellHaddam,  Halstead,  Hardtner,  Harper,  Haviland,  Hays,  Hazelton,  Herington,  Herndon,  Hesston,  Hiawatha,  Highland,  Hillsboro,  Hoisington,  Holton,  Holyrood,  Hope,  Horton,  Howard,  Hoxie,  Hudson,  Hugoton,  Humboldt,  Independence,  Ingalls,  Inman,  Iola,  Jennings,  Jetmore,  Jewell,  Johnson City,  Junction City,  Kanorado,  Kansas City,  Kechi,  Kingman,  Kinsley,  Kiowa,  Kirwin,  Kismet,  La Crosse,  La Harpe,  Lakin,  Lansing,  Larned,  Lawrence,  Leavenworth,  Leawood,  Lebanon,  Lebo,  Lecompton,  Lenexa,  Lenora,  Leon,  Leoti,  Lewis,  Lewisburg,  Liberal,  Lincoln,  Lincolnville,  Lindsborg,  Linwood,Little River,  Logan,  Long Island, Longton,  Lost Springs,   Louisburg,  Lucas,  Luray,  Lyndon,  Lyons,  Macksville,  Maize,  Manhattan,  Mankato,  Marion,  Marquette,  Marysville,  McCracken,  McPherson,  Meade,  Medicine Lodge,  Melvern,  Merriam,  Minneapolis,  Minneola,  Mission,  Moline,  Montezuma,  Moran,  Moundridge,  Mullinville,  Mulvane,  Neodesha,  Ness City,  New Cambia,  Newton,  Norton,  Nortonville,  Oakley,  Oberlin,  Olathe,  Onaga,  Osage City,  Osborne,  Oskaloosa,  Oswego,  Ottawa,  Overbrook, Overland Park,  Oxford,  Palco,  Paola,  Park, Park City,  Parsons,  Peabody,  Phillipsburg,  Pilsen,  Pittsburg,  Plains,  Plainville,  Plevna,  Potwin,  Prairie Village,  Pratt,  Pretty Prairie,  Protection,  Quinter,  Ramona,  Randall,  Raymond,  Rose Hill,  Russell,  Russell Springs,  Sabetha,  Saint Francis,  Saint John,  Saint Marys,  Salina,  Scandia,  Scott City,  Sedan,  Sedgwick,  Selden,  Seneca,  Sharon,Sharon Springs,  Shawnee,  Shawnee Mission,  Smith Center,  Solomon,  South Hutchinson,  Spring Hill,  Stafford,  Stark,  Sterling,  Stockton,  Strong City,  Summerfield,  Sylvan Grove,  Syracuse,  Tampa,  Tonganoxie, Topeka,  Toronto,  Towanda,  Tribune,  Udall,  Ulysses,  Valley Center,  Valley Falls,  Vesper,  Victoria,  Wa Keeney,  Waldo,  Wamego,  Washington,  Waterville,  Wathena,  Waverly,  Wellington,  Wichita,  Wilmore,  Wilson,  Winchester,  Windom,  Winfield,  Yates Center,  Yoder,  Zenda ,overland park, Kansas  Lee summit, Liberty, Missouri.

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