Financing in San Ramon>Question Details

Anil, Home Buyer in San Ramon, CA

10% down in San Ramon

Asked by Anil, San Ramon, CA Wed Feb 13, 2013

Hi..looking for a 10% down loan in San Ramon for a $650k property..780 credit score, no debt, $230k income. Interested in ARM or fixed. What would my options be..thanks!

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You have a lot of options. 10% down is the sweet spot I believe, as it is a lot less money than 20% down yet the mortgage insurance is much lower than 3% or 5% down options. Let me know if I can assist. I have written articles on my blog about how 10% down.
0 votes Thank Flag Link Sat May 11, 2013
This sounds like an easy deal since we have loans 10% down to $850k, and some up to $1Mil

You'll be working with Dave on this one
0 votes Thank Flag Link Sat May 11, 2013

I would suggest talking to a lender or mortgage banker. They will be able to tell you what your options are.

Good luck,
Susie Kay, Realtor®
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240

Servicing your real estate need is my priority!
0 votes Thank Flag Link Sat May 11, 2013
You may qualify from half percent down or for 10% down with a few dozen questions in minutes. Here is a needs list to gather for processing a loan approval, DU Approval or pre-approval letter. Let's go over your loan program options and rates and terms...
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
DRE# 01140252
NMLS# 297251
9am till 9pm 7 days
0 votes Thank Flag Link Fri May 10, 2013
You have good income and good credit score. You have lots of choices as well. Speak to loan broker and one will take care of you.
0 votes Thank Flag Link Tue Feb 19, 2013

Your best option is to get together with a local mortgage professional to find out what your best option is. Why not give Claudia Gravelle (below) a try.
0 votes Thank Flag Link Mon Feb 18, 2013
Hi Anil,

Based on those criteria, you should have no problem getting an ARM or a Fixed Rate Loan. It really depends on what your preference is and how long you intend on occupying the home.

We lend in 47 states and I'd be glad to review your options with you and some rates.

Feel free to contact me at 866-936-5363 ext 278 or via email at

0 votes Thank Flag Link Thu Feb 14, 2013
Hello Anil,

You are doing the right thing by first looking into the loan before starting the home search.

It appears that you should be well qualified just based on the senario you gave above, but getting a loan is a very complex process. There are several options in your situation, but I am not a loan agent, however we have a Company that does loans as well. I would be happy to refer you to the loan agent .

I can tell you that the market conditions are such that whoever can put the most money down or can pay all cash, be willing to pay more than asking price, has the best terms etc. is the winner and gets the property. There are multiple offers in San Ramon as in almost all of East Bay.

You need to get an agent who can help get you pre-approved, send you listings as soon as they come on the market and be willing to advice you on how to get the best offer to the sellers.

If I can help further, I would be happy to.

Meena Gujral
Achievers Realty
0 votes Thank Flag Link Thu Feb 14, 2013
Hi Anil:

Your choices are many!

You could go with the 10% down and have mortgage insurance (which is currently tax deductible).
You can choose to put 10% down with a 10 % second avoiding mortgage insurance completely.
Or you may choose a slightly higher interest rate and opt for the lender paid mortgage insurance.

Your best interest rate option is going to come from the second option as the first lender's risk exposure will be reduced allowing them to offer you a much better interest rate.

The risk of the lender paid mortgage insurance option is that the mortgage insurance will always be with that loan as it will not be removed with any principal pay down nor any equity increase.

The options are numerous.

Email me if you would like to discuss further:
0 votes Thank Flag Link Thu Feb 14, 2013
Hi Anil,

I work with a great lender and I would be happy to get pass you on his contact info if you send me an email.
When putting in offers in on a house agents are requiring a Pre Approval letter from a lender.

It is in your best interest to get one.
925 699 3337.

Good Luck

0 votes Thank Flag Link Thu Feb 14, 2013
Hi Anil,

I work with several local lenders that can surely help you get pre approved. Email me and I'll forward their info.


Kelly Paulsen
0 votes Thank Flag Link Thu Feb 14, 2013
You sound well-qualified. Shoot me an email and I will refer you to a great mortgage specialist who can help you.

Bernard Gibbons
J Rockcliff Realtors
0 votes Thank Flag Link Wed Feb 13, 2013
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