94585 : Questions & Answers

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Claudia Mull…, Real Estate Pro in Fremont, CA
Claudia Muller Gravelle answered:
How soon after closing on a new home loan can you refinance?
You can refinance the day after you close your escrow.
The original appraisal must be utilized. If the borrower is trying to take advantage of the new value, he must wait for six mont ... more
0 votes Share Flag Mon Apr 21, 2014 Financing in 94585
Claudia Mull…, Real Estate Pro in Fremont, CA
Claudia Muller Gravelle answered:
With so many choices for refinancing, which route would you recommend going with? Traditional bank, online only bank, or credit union?
R You purchased the home from a real estate agent.
Contact them and get a good referal. The loan agents that are referred from a know source are your best bet.
On line lending? You ... more
0 votes Share Flag Mon Apr 21, 2014 Financing in 94585
Rob Spinosa, Real Estate Pro in Mill Valley, CA
Rob Spinosa answered:
I just got turned down for my student loans :(. They're not in repayment til 4/2017. I wanted to refinance my fha -> conventional. Anyway to bypass?
R Ojeh,

Here is the specific conforming guideline, so this will apply to those lenders who would offer you the best terms on fixed rate loans, for example:

"Deferred installment d ... more
0 votes Share Flag Fri Jun 14, 2013 Financing in 94585
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
Is your tax refund part of income used to determine your DTI ratio when refinancing?
No your tax refund is not used in your income.

If you want me to prequal you:

1. There is no cost or obligaion
2. I am more likely to do the mortgage than most lenders out there
... more
0 votes Share Flag Fri Jun 14, 2013 Financing in 94585
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
Would I qualify for a conventional 30 year fixed refinance if my DTI is 42.18%?
That should be OK, where you turned down somewhere?
0 votes Share Flag Fri Jun 14, 2013 Financing in 94585
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
my renter wants to buy my home but is not quilfyed for the entire amount of my morgage, can he take over my payments legaly, all payments are current
Yes there are creative finance options, but you need to do it correctly, you can have some real ramifications if not done right. As the seller are often held liable for any borrower de ... more
0 votes Share Flag Tue May 7, 2013 Financing in 94585
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
what is involved in doing a refinance? what are the similarities and differences of a refinance compared to a fha loan for a fist time home buyer?
Sounds really simple. the question is what is your home value. From there we can tell what the best loan for you would be. Then we have to be sure that the benefit to you is sufficient ... more
0 votes Share Flag Tue May 7, 2013 Financing in 94585
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
Is it possible to refinance an fha loan into another fha loan?
Do this all of the time. First though I would try to get you away from the FHA loan if possible. Many people save $500 a month just doing that.

I would need to have more numbers to ... more
0 votes Share Flag Tue May 7, 2013 Financing in 94585
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
Does having a collection show up on your credit report disqualify you from a refinance?
It can but there a a lot of variables. I deal with them in a variety or ways.
1. I try to get the loan approved as is. Many times this is possible
2. I try to get the collection remo ... more
0 votes Share Flag Tue May 7, 2013 Financing in 94585
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
What documents can be accepted in lieu of a green card? Do lender have access to system similar to E-verify?
You can request a replacement of your card. I am always loosing my SS card and when I need it for a mortgage, I get a replacement card.
0 votes Share Flag Sun Nov 18, 2012 Home Buying in 94585
Deanna Decka…, Real Estate Pro in Suisun City, CA
Deanna Deckard answered:
if i short sale a house in 2012 can i short sale another house I own in 2013?
Yes, you could start the process of short selling a second home but ultimately it will be up to your lender(s) to approve the short sale.
0 votes Share Flag Thu Sep 6, 2012 Home Buying in 94585
Triss, Renter in 94534
Triss answered:
Can I buy a house with $300,000 in medical collections?
Hello Scott

I can relate to your frustration with high rent & desire to save even a few hundred dollars amonth & have a place of your own. I can also understand your frustrat ... more
0 votes Share Flag Fri May 27, 2011 Home Buying in 94585
LUXURY HOME…, Real Estate Pro in El Segundo, CA
LUXURY HOME LOANS CA answered:
looking for finance on approximately 23 rental homes in Norhtern California. 50-60% loan to values
We can finance any amount of investment properties through a California FDIC Bank. This is not hard money. If you haven't found a lender please contact me.
1 vote Share Flag Mon Oct 25, 2010 Rentals in 94585
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