Financing in Alameda County : Real Estate Advice

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Ankit_ab, Home Buyer in Brentwood, CA
Ankit_ab asked:
How much money can I cash out if I refinanced my primary home? Hello,
I have about $430K left on my current loan at 3.625%. I had refinanced beginning of 2015. My house value on extremely conservative end is about 780K (Lower than any of the online…
0 votes Share Flag Wed Jul 27, 2016 Financing in 94568
Goesmoo101, Home Buyer in Pleasanton, CA
Goesmoo101 answered: seems to have one of the lower mortgage rates. Does anyone have any experience (good or bad) with them?
I would not do any loans with as they will adjust your Impound amount and then charge you a late fee for not submitting the changed amount and send you to collections. Yes, ... more
0 votes Share Flag Mon May 23, 2016 Financing in Pleasanton
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Sheryl Arndt answered:
streamline 203k loan specialist
I am not local. You can only do a streamline 203k with cosmetic repairs between 5k and 35k. If permits are required you would have to use a 203k and an assigned cost/coordinator.

It ... more
0 votes Share Flag Wed May 18, 2016 Financing in Santa Clara
Eastcoastrea…, Home Buyer in Rockford, IL
Eastcoastrealtor4321 answered:
Is it worth it to do an FHA Streamline on an existing FHA loan?
It's always worth it if it's going to give you any benefit whatsoever. Your best bet is to talk to Home Loans For All. I will include a link to their website.
3 votes Share Flag Sat Jan 16, 2016 Financing in Oakland
Claudia Mull…, Real Estate Pro in
Claudia Muller Gravelle answered:
we are using fha loan, i got our good faith of closing cost, i notice we have to pay lenders origination fee and processing fee. does fha guideline?
You do need to pay origination fee.
A lender will offer you a rate with a loan origination fee.
If you prefer not to pay a loan origination fee, you have the option to increase your i ... more
0 votes Share Flag Mon Dec 7, 2015 Financing in Hayward
Claudia Mull…, Real Estate Pro in
Claudia Muller Gravelle answered:
Does FHA require removal of fixed wrought iron on home windows in order to finance??
Correct, Steve.
If the windows have a quick release mechanism, then the wrought iron odes not need to be removed.
Without this mechanism, it is considered a safety issue.
0 votes Share Flag Mon Dec 7, 2015 Financing in Hayward
Craig Bosse, Real Estate Pro in Walnut Creek, CA
Craig Bosse answered:
Jumbo (portfolio) loan with 20% down, 2 years after short sale
We do these all the time!

Our portfolio "2nd Chance" Jumbo loan allows a recent Short-sale or Foreclosure with no waiting period.

You'll need 20% down of your own funds and 6 mo ... more
0 votes Share Flag Thu Nov 19, 2015 Financing in 94501
Claudia Mull…, Real Estate Pro in
Claudia Muller Gravelle answered:
how long is it taking to obtain a mortgage after a short sale?
Hi I am a lender and can answer this question.
You may obtain FHA financing three years after your short sale has been deeded to the new owner.
You may obtain conventional financing a ... more
0 votes Share Flag Thu Nov 19, 2015 Financing in 94588
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Can I use multiple hard money loans to purchase investment property?
Hard money lenders will require that you bring a down payment into the deal. They are not limiting the percent they are able to lend because they don't have enough funds, they are ensur ... more
0 votes Share Flag Thu Jul 30, 2015 Financing in Oakland
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After a year of foreclosue and with a 50% downpayment, will I qualify forf a hard money loan?
Due to recent government regulations, if the property is owner occupied you must have sufficient income in order to qualify for a hard money loan (or any loan). A large down payment wil ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in Hayward Highland
Louisdicosta…, Home Buyer in Woodridge, NY
Louisdicostanzo answered:
can I ask my mortgage broker what their Yield Spread Premium is .. and do they have to answer? Better yet, do they have to tell me the truth?
Does anyone know where to look on the GFE to see if im being charge the YSP?
0 votes Share Flag Sun Apr 5, 2015 Financing in Fremont
Smita Patel -…, Other/Just Looking in Aliso Viejo, CA
Smita Patel - Lender answered:
Construction Loan OO requirement.
It really depends on the Lender, I work with a few some of whom have a clause that the property cannot be sold within a period of time. Reason: these lenders typically charge higher int ... more
0 votes Share Flag Tue Mar 24, 2015 Financing in 94610
Arpad Racz, Real Estate Pro in San Jose, CA
Arpad Racz answered:
Should I first sell my home or buy a new one first?
Hi Karam,

It depends on your loan qualifications or finances. Could you carry 2 mortgages if you bought another home, till you sell your current one?

All the best,

0 votes Share Flag Thu Mar 12, 2015 Financing in 94550
Alex Greer, Real Estate Pro in San Jose, CA
Alex Greer answered:
Is it required for the Lender to be insured as an additional interest on the HO6 policy?
Yes. The Lender needs to be listed as a lender loss payee or as a first mortgagee clause.

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortg ... more
0 votes Share Flag Tue Feb 3, 2015 Financing in 94539
Cindy Davis, Real Estate Pro in San Diego, CA
Cindy Davis answered:
For a developer, what are the benefits for using a preferred lender on a condominium project? What are the downsides?
Typically, there is a benefit offered by the seller for using a preferred lender. However, you must do your diligence..explore the rates, costs, and basic competence of that company or ... more
0 votes Share Flag Tue Dec 2, 2014 Financing in Oakland
Tristam Biel…, Real Estate Pro in South Pasadena, CA
Tristam Bielecki answered:
Can I get 80-10-10 loan on a work H1-B visa?
Yes, it is possible. I know because I did it myself (and I didnt even have much of a credit history). You will be limited in choice because so few lenders will offer this but the loans ... more
0 votes Share Flag Sun Oct 19, 2014 Financing in Fremont
Valli Lopez, Real Estate Pro in San Diego, CA
Valli Lopez answered:
I am self-employed IT Consultant with less than 2 years of self employment. Do you think I can a mortgage loan of $400k for home buying in Bay area?
In short, yes. Should not be a problem. Lots of long answers here, but to compare, I closed a purchase for a Bravo TV star who only had 6 months of verifiable income as self employed ... more
0 votes Share Flag Fri Sep 26, 2014 Financing in Fremont
Steve Mandich, Real Estate Pro in Redondo Beach, CA
Steve Mandich answered:
cash-out LTV 90%
What I typically do in your case is a 1st loan of 80% and a 2nd loan or HELOC for 10% of the value. So, the total is 90CLTV. If your current 1st is at a good rate, keep it and just do ... more
0 votes Share Flag Wed Sep 24, 2014 Financing in Fremont
Richard Litt…, Real Estate Pro in Orange, CA
Richard Littlefield answered:
Refinance of a condo in mixed use bulding. Any reccomendations?
I have money for that type of property, but the rate is higher than a regular property. There is no cost or obligation if you would like a quote. Give me a a call my cell is 714-421-103 ... more
0 votes Share Flag Tue Sep 23, 2014 Financing in Berkeley
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