Financing in Roseville : Advice

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Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Will low debt-to-income ratios help to qualify if the other requirements for a mortgage are not stellar?
Yes, a low debt-to-income ratio is considered a "compensating factor" that can help if other aspects of your profile are borderline - so it can help. However if there is one part of yo ... more
0 votes Share Flag Sun Jul 21, 2013 Financing in Roseville
Teri Andrews…, Real Estate Pro in Auburn, CA
Teri Andrews-Murch answered:
Is the owner's title policy an allowable VA fee?
My understanding is yes a VA buyer can pay the owners title policy costs.

The escrow fee needs to be paid by seller.

Check with your lender to be certain.
0 votes Share Flag Wed Nov 21, 2012 Financing in Roseville
Michele Rive…, Real Estate Pro in Rocklin, CA
Michele Rivenes Peterson answered:
Property has good paying tenant. How easy it to obtain a $1.2M commercial property with 20% down?
There are several great commercial lenders in the area.
Are you working with one already?

Many factors go into financing commercial property.

Call Jeff Compton - Owner of Comstoc ... more
0 votes Share Flag Sun Apr 15, 2012 Financing in Roseville
Jim Walker, Real Estate Pro in Carmichael, CA
Jim Walker answered:
score over 700. Property Value $135K Asking 99K approved for 80K wanting to get 2nd mortgage at same time as first for 19k.
Almost all banks keep their loan to value requirements as a ratio of the lower value of either the purchase price or the appraisal. The $80,000 bank approval might not allow more borro ... more
0 votes Share Flag Sun Mar 11, 2012 Financing in Roseville
Elva Wormley, Real Estate Pro in San Jose, CA
Elva Wormley answered:
What's the current minimum down payment for homes in the Sacramento area, given good credit/30 yr fixed mort. loan? Thanks, Richard
Hi Richard,

There is a down payment assistance program, CHF Access, for low to moderate income borrowers that provides a fixed rate second mortgage up to 3% of the purchase price.
... more
0 votes Share Flag Tue Nov 20, 2012 Financing in Roseville
Connie Wilda…, Real Estate Pro in Long Beach, CA
Connie Wildasinn answered:
Is it possible to buy a 6-plex as owner occupied. That is, live in one unit , and rent out the other 5.
sure if you want to live with 5 renter... live on... I personally would not tell them I am the owner... just the manager... less headache...good luck
0 votes Share Flag Mon Jul 22, 2013 Financing in Roseville
Anthony A. A…, Real Estate Pro in Roseville, CA
Anthony A. Alfano answered:
My wife and I own a 2700 Sq Ft Ranch home on 2.75 acres, built in 2007. Current appraisal at $630K. My lender cannot convert my construction loan and
Yes, I do know of a Sacramento Based Hard Money Lender that will lend up to 65% of the appraised value. Feel free to give me a call or send me an email and I can get the ball rolling fo ... more
0 votes Share Flag Mon Jan 4, 2010 Financing in Roseville
Michael Flynn, Real Estate Pro in Sacramento County, CA
Michael Flynn answered:
I recently purchased a home few months ago using a fha loan. I would like to know if I can refinance with a 203k?
Hello Robert,

What is a few months if it hasn't been 6 months you will have to wait. There are a lot guidelines that need to be satisfied in order for the refi. to be approved. ... more
0 votes Share Flag Fri Aug 22, 2014 Financing in 95678
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
Ute Ferdig - Atty. Negotiator answered:
are there any down payment assisiance programs available?
Hello Angela. I know there are assistance programs available. Unfortunately, they are not very well publized and a lot of red tape can be involved which can pose a challenge in this m ... more
0 votes Share Flag Fri Dec 25, 2009 Financing in Roseville
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
We are selling a home, & purchasing a newly built home. Re: local custom are we to pay all closing costs?
Vienne,

Closing costs are normally shared between the buyer and seller. Our recommendation is to be in touch with your "closing agent" for a clarification of the expenses y ... more
0 votes Share Flag Wed Sep 30, 2009 Financing in 95747
Chris Mabry…, Real Estate Pro in Tucson, AZ
Chris Mabry SRS,e-PRO answered:
is new construction 'just built' or can it be sitting for a bit waiting for the first buyer?
Hi Jennyfer,
It can be considered both. Typically new construction is defined as a home that has never been lived in before. Building a home from the start is an option which takes s ... more
0 votes Share Flag Wed Jun 10, 2009 Financing in Roseville
Steve Ornell…, Real Estate Pro in Fremont, CA
Steve Ornellas answered:
We just completed a BK in Nov of 2008 what are our options to purchase a home
Hi Andes, the bankruptcy will remain on the "derogatory page" of your credit report for 10 years. FHA will allow you to repurchase after 2 years have past, a minimum credit score of 680 ... more
0 votes Share Flag Tue Apr 14, 2009 Financing in Roseville
Jeff Marr, Real Estate Pro in Folsom, CA
Jeff Marr answered:
need money to purchase home. Chapter 7 discharged in Oct 08. Looking for 200K.
Wayne - best option is FHA financing in Oct 2010. All other options will involve a sizable down payment, 30% or more, and closing costs will be extreme!

Jeff Marr
Stanford Mortgage
0 votes Share Flag Fri Aug 21, 2009 Financing in Roseville
Alex Amaro, Real Estate Pro in 95819
Alex Amaro answered:
I am looking to make a second home purchase in the Sacramento/ Roseville area. Will it be easier to qualify?
Good Day Chase,
If you are considering buying a home in the same area then most likely the bank will not lend you the money unless you qualify to handle BOTH mortgage payments. The re ... more
0 votes Share Flag Thu Nov 6, 2014 Financing in 95678
Jim Walker, Real Estate Pro in Carmichael, CA
Jim Walker answered:
Financing options: I have an option to finance with 0 points with a higher interest rate OR pay points and
The banker is right. Not only is it a good idea to avoid paying "points" if you are likely to move in 5 years, it is also a better idea to take a 5 /25 7/23 or 10/20 If one of those p ... more
0 votes Share Flag Sun Oct 3, 2010 Financing in Roseville
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