Financing in Danville : Advice

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Elliott R. O…, Real Estate Pro in Falls Church, VA
Elliott R. Oliva answered:
Just when we think changing financing terms at the closing table doesnt exist anymore listen to this! My husband is a loan officer and he received
Joanna, you are assuming the higher rate the LO charges the more money he gets. It's not that way but it was before April 1st, 2011 but that was not a bad thing either.

On Apri ... more
0 votes Share Flag Fri Mar 2, 2012 Financing in Danville
FHA 203k Mor…, Real Estate Pro in California
FHA 203k Mortgage Lender answered:
Interested in a foreclosed home in California. Priced 750k so plan to use FHA loan. But it's been trashed and we need 30 to 50k to repair. Does?
To accomplish combining the purchase price and renovations into the max FHA loan limit some negotiations will be needed if you are interested in a 203k loan

You can confirm the max ... more
0 votes Share Flag Fri Dec 30, 2011 Financing in Danville
Robert Chome…, Real Estate Pro in San Diego, CA
Robert Chomentowski answered:
Hubby self employed we have a lot of write offs so income is pretty low. Excellent credit 725 66k down. A lot of debt. Likely hood of getting approv
There are some things you can add back to your income if you are self-employed. To name a few:

-depreciation
-business use of home
-about 40% of the vehicle mileage deduction

B ... more
0 votes Share Flag Thu Dec 1, 2011 Financing in Danville
John Arendsen, Real Estate Pro in Encinitas, CA
John Arendsen answered:
Found home for $625K to buy w/ FHA. But needs $350K remodel/renovation.What are loan options for reno?
It's all about "After Repair Value" (ARV). You need to consult with an experienced "Distressed Property Professional" in your area. They have very astute buying ... more
0 votes Share Flag Fri Nov 11, 2011 Financing in 94526
LUXURY HOME…, Real Estate Pro in El Segundo, CA
LUXURY HOME LOANS CA answered:
What's your take on 'Operation Twist', the Fed's newest plan to boost the economy and keep interest rates low?
John T.,

What would be some examples of "overly rigid underwriting requirements that you have run into?"

I don't do a ton of loans, but I do my fair share. From pr ... more
0 votes Share Flag Thu Sep 22, 2011 Financing in Danville
Melissa Zava…, Real Estate Pro in Escondido, CA
Melissa Zavala answered:
The Obama administration is working on a new mortgage relief plan & could unveil it soon. Do you think this would work, or end up costing us more?
That's interesting. The last plan was a refi for people who were upside down only 105%, so it was not too helpful to many folks in states with so many distressed properties. I' ... more
0 votes Share Flag Fri Sep 9, 2011 Financing in Danville
Gilbert Rich…, Real Estate Pro in Santa Clara County, CA
Gilbert Richards answered:
What lender is best used to finance a purchase of acreage with a manufactured hom eon a permanent foundation???
Yes. Here are the Questions:

1) Do you plan to keep the property as-is?
2) Are you going to build anything else on it
3) How much acreage is on the property

I have several inves ... more
0 votes Share Flag Wed Feb 23, 2011 Financing in Danville
Kamal Randha…, Real Estate Pro in California
Kamal Randhawa answered:
Are banks in CA writing 95% OR 93% loans on homes in contra costa? (strong credit, $250M income)
Hello Dg8trs,

These loans are very possible. You can go to any mortgage broker or bank and get pre-approved. Good luck :)

Kamal Randhawa
Broker
510-932-1066
0 votes Share Flag Sat Jul 24, 2010 Financing in 94526
Robert Green…, Real Estate Pro in 08003
Robert Greenblatt, MBA answered:
Rate lock for my home equity line of credit . How?
Hi Gigi. All lenders are different. Call the lender which issued the line. Many lines of credit have the "lock" option on the open balance.

~Robert Greenblatt
Keller Wi ... more
0 votes Share Flag Sat Jan 30, 2010 Financing in Danville
Suzanne Look…, Real Estate Pro in Lafayette, CA
Suzanne Looker, SRES answered:
Loan during maternity leave
Dear Whacko,
How exciting! I helped another pregnant couple find an adorable home late last year. I have names of fantastic lenders that can answer your question with the most up to ... more
0 votes Share Flag Mon Jan 19, 2009 Financing in Danville
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