Financing in Santa Clara : Real Estate Advice

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Amelia Robin…, Real Estate Pro in Falls Church, VA
Amelia Robinette answered:
Hi, my dear friend's new husband had her sign away all interest in the house he bought before they were married. This document was notarized and
if her name is on the loan, she's liable for it.
0 votes Share Flag Sat Sep 26, 2015 Financing in 95050
Michelle Car…, Real Estate Pro in Coppertino, AL
Michelle Carr-Crowe answered:
Can a 15% down payment still get a jumbo non-conforming loan (say around 850-900K loan) in today's market?
Yes, I helped a client do this recently-at a price point of $1.5M, so it is possible with stellar credit and income. Text or Just Call 408-252-8900 for details.

Michelle Carr Crowe
0 votes Share Flag Wed May 20, 2015 Financing in 95050
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Sheryl Arndt answered:
Does applying for a loan jointly with spouse who has no credit history but equal income help or hurt getting approved?
Hello chashu, your spouse may qualify FHA with NO FICO score or traditional credit with alternative credit such as utilities, cell phone, car insurance, rent, etc. Ultimately your quali ... more
0 votes Share Flag Fri Mar 20, 2015 Financing in 95051
RonS, Other/Just Looking in Concord, CA
RonS answered:
I have a recourse loan financed in Michigan. Can I refinance it at all?
in reading your reply to Tina, you aren't asking the question you really want the answer to. It has nothing to do with recourse. You have a home that is underwater. Of course you can re ... more
0 votes Share Flag Thu Jan 8, 2015 Financing in 95051
RonS, Other/Just Looking in Concord, CA
RonS answered:
Hi, we have a rental that was our primary, but refi'd after we moved out. What is our risk if we walk away?
did you refinance it as an owner occupied property? You said you "Subsequently" bought and moved into another home, THEN turned subject property into a rental and refinanced. If you sai ... more
0 votes Share Flag Thu Jan 8, 2015 Financing in 95051
Randall Ortiz, Real Estate Pro in Elk Grove, CA
Randall Ortiz answered:
Can Bank of America close a loan in 30 days? I was told that they cannot, is it true?
I've worked on deals where BofA closed within 30 days, so yes they can.
0 votes Share Flag Thu Dec 18, 2014 Financing in 95051
Claudia Mull…, Real Estate Pro in
Claudia Muller Gravelle answered:
Can a person with 1 years of work experience, one and half six-digit salary after 5 years of career break get an FHA loan?
FHA requires one DAY back on the job after being out of the work force. A letter of explanation as to why there was a break in employment is always recommended so the underwriter can u ... more
0 votes Share Flag Thu Jan 9, 2014 Financing in Santa Clara
Robert Hanson, Real Estate Pro in Olney, MD
Robert Hanson answered:
I am looking to refinance my ( 5/1) arm Loan on my primary residence. My LTV ratio is 85% according to
Hi Prashanth,
It sounds as if your local bank may have what we call an underwriting "overlay". What this means is that they have stricter guidelines in place for themselves than may be ... more
0 votes Share Flag Wed Jan 8, 2014 Financing in 95054
Robert Hanson, Real Estate Pro in Olney, MD
Robert Hanson answered:
Planning to take a confirming loan for buying home and confused between 5/1 ARM and 30 yr fixed loan. Interest rate difference is 1.5 which is better
Hello,

There is a break even point on worst case scenario for the 5 year arm that is longer than 5 years. There are sevral non-numerical factors to take into consideration along with ... more
0 votes Share Flag Wed Jan 8, 2014 Financing in 95054
Andrea Gomez, Real Estate Pro in San Antonio, TX
Andrea Gomez answered:
When would lenders start giving loans using the new loan limits announced by HUD raising the limit to 729K?
Now. FHA goes up to 729k in some counties in CA
0 votes Share Flag Sat Aug 10, 2013 Financing in 95050
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Ruth and Perry Mistry answered:
How to get a mortgage approval for a new immigrant who has no credit score in the USA ?
Hi Seasaw

There are loan programs available for Foreigners, but with a slightly higher rates.

Feel free to call me or check our web site www.ruthandperry.com for homes.

While d ... more
0 votes Share Flag Mon Aug 6, 2012 Financing in Santa Clara
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Ruth and Perry Mistry answered:
Refinance and recourse vs. non-recourse loan
Hi Lean and Mean:

http://www.trulia.com/blog/perry_mistry/2010/09/foreclosure_process_how_state_laws_vary

also then read

http://www.trulia.com/blog/perry_mistry/2010/10/anti_de ... more
0 votes Share Flag Sat Oct 16, 2010 Financing in 95051
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Ruth and Perry Mistry answered:
Will refinance increase my house assessed value and consequently increase my property tax?
Hi Irwtfybb

No refinancing has nothing to do with your Property Value.

Trust you are looking into Refinancing again as rates since May have come down even more.


Two great ba ... more
0 votes Share Flag Sat Oct 16, 2010 Financing in 95051
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Ruth and Perry Mistry answered:
I need a loan to put an addition on a rental property. My credit is pretty bad but the additional rental income will cover the loan payments. Any?
Hi Bay Area 11

Sorry to hear about your issues. Yes there are a few in similar situation in the valley.

Even hard money lenders will have an issue lending as you have a home in f ... more
0 votes Share Flag Mon May 17, 2010 Financing in Santa Clara
Sam Shueh,  in San Jose, CA
Sam Shueh answered:
How is the LTV determined for refinancing?
They order a BPO if not an appraisal. If it is marginal then they ask for a desktop confirmation.
They also studied the neighborhood. I hope you are not in a complex where there have b ... more
0 votes Share Flag Sat Mar 20, 2010 Financing in Santa Clara
Hollie, Home Buyer in Tracy, CA
Hollie answered:
evicton & crime records
Glen, thank you very much. I will check credit by myself next time.
0 votes Share Flag Tue Mar 16, 2010 Financing in Santa Clara
homebuyer, Home Buyer in 95054
homebuyer answered:
in a home mortgage application process what does Verify Receipt Of Warranty Letter Issued By Bank Of America
Thank you Bill for quick response.

To clarify, this is a clear property (no REO or short sell) and lender is bank of america. I am curious on the reason for asking warrenty letter is ... more
0 votes Share Flag Sun Jul 12, 2009 Financing in Santa Clara
Brian LeBars, Real Estate Pro in Pleasanton, CA
Brian LeBars answered:
Would lenders/brokers give me a loan? Would my rate be close to the low advertised rates?
It would be contingent upon when the purchase took place.

Feel free to email me directly with any questions.

Best,

Brian
0 votes Share Flag Tue May 26, 2009 Financing in Santa Clara
Sam Shueh,  in San Jose, CA
Sam Shueh answered:
Will conforming loan limit raise?
According to my loan agent the new CONFORMING JUMBO LOANS up to $729,750 will be available very shortly.
It will be available through selective lenders.

Right now, the 30 year fixed ... more
0 votes Share Flag Wed Apr 22, 2009 Financing in Santa Clara
Michael Camp…,  in Entire U.S.
Michael Campanaro answered:
What about FHA loans for re-financing a home with lots of equity? Can we avail by this service? Also, will
Yes you can do a cash out refi with an FHA loan. You can go as high as 95% of the value of the home. Would you like to discuss this further?
I can be reached at 908-868-2021.
Best reg ... more
0 votes Share Flag Sat Jun 14, 2008 Financing in 95054
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