Financing in Fremont : Advice

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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
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
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
Huey Nguyen, Real Estate Pro in San Jose, CA
Huey Nguyen answered:
If I co-borrow a house loan now, will it affect my ability to purchase my own home in the future? how will it affect me as a 1st- time buyer later?
Hello maescoupon,

Yes, if you sign as a co-borrower to a home, this will be a debt on your credit report affecting your ability to purchase a home of your own in the future.

Ther ... more
0 votes Share Flag Sun Sep 7, 2014 Financing in 94555
Ali Qureshi, Real Estate Pro in Pleasanton, CA
Ali Qureshi answered:
Looking for investment mortgage after 4 yrs of Foreclosure on credit .
There are some programs out there. You should be fine, depending on over all scenario
0 votes Share Flag Wed Jul 23, 2014 Financing in 94539
Ali Qureshi, Real Estate Pro in Pleasanton, CA
Ali Qureshi answered:
why does my mortgage company want the loan number and their name added to my existing Ho6?
It is probably for the county records and to update the information.
0 votes Share Flag Wed Jul 23, 2014 Financing in 94539
Richard Litt…, Other/Just Looking in Orange County, CA
Richard Littlefield answered:
I am looking for mortgage brokers/agents in the bay area who offer Fresh Start program to folks who have short sale/foreclosure on their credit report
I wonder if you have taken care of this, but what this is is a FHA program you have to take a free class before I can take a loan application.

contact me if you need help finding one ... more
0 votes Share Flag Tue Jun 3, 2014 Financing in Fremont
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Changing lender when under contract
Well it definitely sounds like you aren't getting good communication from your loan officer or this "associate". The associate may be feeling embarrassed (for the other loan officer) a ... more
1 vote Share Flag Mon Mar 24, 2014 Financing in Fremont
The Medford…, Real Estate Pro in Fremont, CA
The Medford Team answered:
non-occupant co-borrower affects on credit score and tax return
Great answers below - bottom line, it will affect your ability to get credit down the road and, if there are any delinquencies, your credit rating will also be affected.
0 votes Share Flag Sun Mar 9, 2014 Financing in 94555
Ali Qureshi, Real Estate Pro in Pleasanton, CA
Ali Qureshi answered:
"no fees, no points" - does that mean I'll have no out of pocket costs for the refinance, or are there other costs that are not included?
Lender is charging a higher interest rate to cover your fees. Every loan transaction involves closing costs such as Title and escrow charges, Pre-paid interest and miscellaneous costs. ... more
0 votes Share Flag Tue Nov 26, 2013 Financing in 94536
Ali Qureshi, Real Estate Pro in Pleasanton, CA
Ali Qureshi answered:
How have low interest rates affected the Fremont housing industry?
One of the driving factors behind home appreciation across california in the past year was low interest rates. Buyers compare the amount of rent they pay with mortgage payments. As a re ... more
0 votes Share Flag Tue Nov 26, 2013 Financing in Fremont
Ali Qureshi, Real Estate Pro in Pleasanton, CA
Ali Qureshi answered:
Contingency Release from builder states builder can sue me for full price of home, legal fees etc. I have loan commitment & signed sales contract
If you have a genuine hardship you should talk to the builder first. Generally, they don't want a bad reputation in the market because they're selling a community and not just one house ... more
0 votes Share Flag Tue Nov 26, 2013 Financing in Fremont
Grace Tam, Other/Just Looking in Dublin, CA
Grace Tam answered:
Any Lender to approve conventional mortgage 3 years after foreclosure?
By avoiding PMI, you need to have 20% downpayment for conventional loan. And there is another conforming loan and loan amount up to $417k call lender paid PMI.
0 votes Share Flag Mon Sep 23, 2013 Financing in 94539
Jim Rosa, Home Buyer in Key Largo, FL
Jim Rosa answered:
Do I have to buy HO6 when refinancing loan? Bank don't fund the loan after signed all the documents week ago. What should I expect if I?
What a deal? If you ever have to use this insurance they will nickle and dime you, charge you a huge deductable and then raise your future rates! Thats the order! The banks love this in ... more
0 votes Share Flag Sat Jun 15, 2013 Financing in 94539
Grace Tam, Other/Just Looking in Dublin, CA
Grace Tam answered:
The house i bought is classified as condo instead of single family by appraiser. Anything I can do?
I have a similar experience by one of my client's refi. Lender will ask for documentation to verify. And you may need to find out from Fremont City.
0 votes Share Flag Thu May 9, 2013 Financing in 94539
Claudia Mull…, Real Estate Pro in
Claudia Muller Gravelle answered:
Wire Money Before funding?
In California, there is a good funds law.

Funds must be verifiied by title to be 'good' (ie; personal check must have cleared, cashier's check cleared or funds wired)

If you are ... more
0 votes Share Flag Wed Jun 20, 2012 Financing in Fremont
Dawn Rivera, Real Estate Pro in Fremont, CA
Dawn Rivera answered:
What is Homepath Renovation Mortgage Financing?
the homepath renovation loan is a loan where you get the loan for the home and extra to do repairs. I am an agent for Realty World Viking and we have a mortgage division that does 203K ... more
1 vote Share Flag Thu May 10, 2012 Financing in Fremont
Kenneth Lee, Real Estate Pro in Piedmont, CA
Kenneth Lee answered:
Which is riskier for banks/mortgage lenders to lend money on ?
Investor loans generally require a higher down payment (25% or more) and carry a higher interest rate. If the property is already rented and generating income your lender may include t ... more
0 votes Share Flag Fri Apr 20, 2012 Financing in Fremont
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