Financing in Oakland : Real Estate Advice

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Richard Matus, Real Estate Pro in Oakland, CA
Richard Matus answered:
Does building a "green" home necessarily mean a more expensive home (material-wise)?
Not always, sometimes it is a decision of using a different product at a similar cost. There is an organization called Build It Green ( that has lots of good info that ... more
0 votes Share Flag Wed Apr 3, 2013 Financing in Oakland
Michael Bard…, Real Estate Pro in Berkeley, CA
Michael Bardales answered:
Will lender give buyer a loan if a garage is converted into room without permit?
Possibly. They may require a larger down payment. I have a great lender who can help you with that. Let me know.
0 votes Share Flag Sun Mar 31, 2013 Financing in 94603
Richard Matus, Real Estate Pro in Oakland, CA
Richard Matus answered:
if i buy a 4 family house, do i have to live in one of the units to qualify for a traditional loan?
You'll get the best terms and rates if you live in one of the units. Investor loans will have a little higher rates and require more down than a 4 unit building that is owner occupied. ... more
0 votes Share Flag Thu Mar 14, 2013 Financing in Oakland
Suzanne MacD…, Real Estate Pro in Morristown, NJ
Suzanne MacDowell answered:
Is it possible to change contractors midway through a 203k (streamline)? I am getting bad feeling on the person I have used.
It is possible but it can be messy and time consuming. And he does have to be paid for the work he's done so far. Call the FHA supervisor and tell him the issues you are having. He o ... more
0 votes Share Flag Thu Jan 24, 2013 Financing in Oakland
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Right time to get a Good Faith Estimate?
It probably takes about 5 minutes to have them change & run a new GFE.
They are required by Federal Law to give you a GFE, so don't be put-off.
You should get at least two Loan estima ... more
0 votes Share Flag Thu Sep 13, 2012 Financing in Oakland
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
How are refi appraisals affected by pub record errors w/# rooms,SqFt?Title Co comps show smaller homes,lesser values.Halt refi til corrected w/County?
Most appraisers use mls listings and not public documents for comps.
0 votes Share Flag Mon Aug 13, 2012 Financing in 94605
Lance King, Real Estate Pro in San Francisco, CA
Lance King answered:
TIC loans in Oakland, CA
I don't know of any lenders specific to Oakland for these products. I think Sterling Bank and NCB are the only ones who do these loans.
0 votes Share Flag Thu May 23, 2013 Financing in Oakland
Bob Willett,  in Sacramento, CA
Bob Willett answered:
Is it worth it to do an FHA Streamline on an existing FHA loan?
If your case number was pulled after October 4, 2010 you have annual MMI of .9%; if it was pulled before that it is only .55%. Since it’s now 1.25% you will be increasing your M ... more
0 votes Share Flag Sat Jan 16, 2016 Financing in Oakland
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
Any tax benefits to changing OR to CA residency?
When it comes to any tax issues, it's always best to consult with your tax profesional, and or, tax attorney...
0 votes Share Flag Mon Jan 23, 2012 Financing in Oakland
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Can I get a FHA loan or any other loan?
Hi Gil, it sounds like the bumpy credit was 24+ months ago and so your credit history should be in good condition for FHA financing, you'll have more lending options (and easier un ... more
0 votes Share Flag Tue Dec 13, 2011 Financing in Oakland
Bill & Elijah…, Real Estate Pro in Oakland, CA
Bill & Elijah Fletcher answered:
can i buy a house with a itin # in texas 77038?
Call your favorite mortgage broker and have a conversation about your issues
0 votes Share Flag Mon May 14, 2012 Financing in 94610
Michael Abram, Other/Just Looking in Los Angeles, CA
Michael Abram answered:
Hello Honeytoast4U,

Can you give a little more information about the medical bills? Did they appear on your credit report as collection accounts?

Michael Abram
First Capital Mor ... more
0 votes Share Flag Tue Jun 21, 2011 Financing in Oakland
Roswell Moore…, Real Estate Pro in Scottsdale, AZ
Roswell Moore, answered:
are there any options for jumbo non-conforming piggy-back loans? have 20% for $1M purchase; looking for options with LTV > 80% if we go more
Hi Joshua,

Yes, there is an alternative. I work for a mortgage bank that provides Jumbo loans up to $5 MM with as little as 10% down.

Please feel free to contact me directly; I ... more
0 votes Share Flag Mon Jun 13, 2011 Financing in Oakland
Troy Staten, Real Estate Pro in Alameda, CA
Troy Staten answered:
Multi Family 5 units Financing
With 5+ lending the lenders are usually looking at the buildings ability to pay for itself. If the rental income does not cover the payments, taxes and insurance plus a vacancy factor ... more
0 votes Share Flag Wed Aug 17, 2011 Financing in Oakland
Edie Clark, Real Estate Pro in Portland, OR
Edie Clark answered:
I recently bought a home and have a 30 year fixed with a major bank. What are the implications of pre-paying a considerable portion of the mortgage?
You should contact your Accountant or CPA for any tax consequences. In regards to the sizeable principal reduction (curtailment), you should contact your current Lender's Loan S ... more
0 votes Share Flag Mon Mar 7, 2011 Financing in Oakland
Rudi Hofmann, Real Estate Pro in El Segundo, CA
Rudi Hofmann answered:
What are the ownership % rules for condo buildings to maintain FHA financing& refinancing? We are new owners and coming up with rental rules.

Here are some main ones and a link to FHA that you can ask questions by key word.
1. 51% owner-occupied
2. No one entity can own more than 10% of the units, builder include ... more
0 votes Share Flag Mon Feb 28, 2011 Financing in Oakland
Richard Mals…,  in Fresno, CA
Richard Malsed answered:
Could a broker help me get an FHA loan ???
With the info you provided, there is no reason why you couldn't qualify for a loan. Seek out a mortgage broker or a loan officer and get a pre-approval! I use a lender that regular ... more
0 votes Share Flag Sat Jan 22, 2011 Financing in Oakland
Kyle,  in Scottsdale, AZ
Kyle answered:
Can we use Fannie Mae homepath program with 3.5% down?
Sure, sounds like it would be fine. Dont get too hung up on the job thing, with 2 years history its fine. And the min down is actually 3%. We are a preferred Homepath Lender if you want ... more
0 votes Share Flag Tue Dec 14, 2010 Financing in 94607
Kamal Randha…, Real Estate Pro in El Sobrante, CA
Kamal Randhawa answered:
Does the Calhfa program include the purchase of owner occupied multi-unit properties or only single family homes?
Hello Ruth :)

While FHA Loan Guidelines do require that the property be Owner Occupied (OO), they do allow you to purchase condos, planned unit developments, manufactured homes, and ... more
0 votes Share Flag Sat Nov 27, 2010 Financing in Oakland
The Chris Fr…, Other/Just Looking in Alameda, CA
The Chris Freck Team, CMPS answered:
I am interested in getting a 203k FHA loan with down payment assistance. Any ideas? Is this possible?
FHA does not allow any secondary financing behind 203k loans, most lenders are now requiring 640 minimum.
0 votes Share Flag Sat Nov 27, 2010 Financing in Oakland
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