Financing in Orange County : Questions & Answers

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Art Welch, Real Estate Pro in 92692
Art Welch answered:
I know, I know, another 10% vs 20% down scenario
How did you do your calculations the 10% down should be a higher rate? The 20% has no MI did you look at all the closing costs 10 vs 20? Also you might look at 20% down but a fixed at ... more
1 vote Share Flag Wed Jul 22, 2015 Financing in 92692
Bill Caiazzo, Real Estate Pro in 92646
Bill Caiazzo answered:
Is anyone doing any ARV loans in California? I am rehabbing houses with min repairs but home value is at 1M Pls. email at wennie_oasis@yahoo.com
I have worked with several investors, and have hard-money lenders to provide financing. Terms of these loans vary, but the best terms I've found are: 90% LTV on the purchase price (not ... more
0 votes Share Flag Tue Jul 14, 2015 Financing in 92648
Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
How much of a down payment would someone need to purchase say a sixplex for 1,875,000 and what would the income requirements be?
Hi Mike
Anything over 4 units would be considered commercial property and thus would fall under different guidelines than financing a home for example. You'd need to speak to a bank th ... more
0 votes Share Flag Tue Jul 7, 2015 Financing in Huntington Beach
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
Can I get refinanced with 470 score. Mortgages is 280k. I have about 125k in equity.
There are some ways to do it. But each would require special circumstances. For example if you are over 62 there is a loan, there are hard money loans etc.

The best thing is to wor ... more
0 votes Share Flag Wed Jul 1, 2015 Financing in 92807
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
I am looking for brokers who would like a place to send their turn downs when they are unable to approve a clients loan request.
Matt, Please contact us to discuss the type of deals you are looking for: www.northcoastfinancialinc.com
0 votes Share Flag Mon Jun 29, 2015 Financing in Irvine
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
any lenders that offer a refi with no income verification?
All lenders are going to require some type of income verification. Hard money lenders will care much less about income than conventional lenders, unless the property is owner occupied i ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in Fullerton
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
Are there any "no qualifying loans" with 30% down?
Most all loans require some sort of qualification process. Hard money loans require much less qualification that a traditional bank loan. Hard money lenders require down payments of at ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in 92807
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
I applied for a hardmoney loan because i did a short sale,because we grown out of our home ,i told a lender i need to make sure i'm going to
Reliable communication with your lender is very important. Before committing to a lender it may worth the time to ask for previous clients of the lender to speak with and get an idea of ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in Brea
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
i need a hard money loan for 2 home in northern california. im an investor that needs a loan up to 95% LTV. Can anyone recommend anyone who does it ??
It will be extremely difficult to find a reputable hard money lender who will loan up to 95% LTV. Any lender offering 95% is going to have a very high interest rate (15-18%) and sky-hig ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in 92602
Jason Whiteh…, Real Estate Pro in San Diego, CA
Jason Whitehead answered:
Condo with HOA litigation
West End Mortgage Group is one of the ONLY companies still doing home loan financing for condos with Litigation and Low Owner-Occupancy issues. We do them all day, every day and have b ... more
0 votes Share Flag Tue Jun 23, 2015 Financing in Irvine
Richard Litt…, Real Estate Pro in Orange County, CA
Richard Littlefield answered:
Can a mortgage lender ask if you are related to your employer?
It is sounding like the underwriter is a bit overbearing to me. But you may want to just answer the questions and close your loan.
0 votes Share Flag Thu Jun 4, 2015 Financing in 92630
Andy Brown, Real Estate Pro in Carlsbad, CA
Andy Brown answered:
10% Down Jumbo Loan in OC at ~$900k purchase price?
We have 95% jumbo financing available up to $850k loan amount or just under $900k purchase price.

abrown@guildmortgage.net
760-607-6401
0 votes Share Flag Mon May 11, 2015 Financing in Orange County
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
Is anyone doing 75% ARV Hard Money loans in California?? It is an REO with no rehab. I need anything close to $692k.
Most hard money lenders will lend up to 75-80% of the current value of the property. Using ARV makes the loan riskier and thus more expensive for the borrower.
1 vote Share Flag Fri May 8, 2015 Financing in 92602
David LaVall…, Real Estate Pro in Irvine, CA
David LaVallee answered:
are the property taxes different if I am 60 yrs of age and selling my property and buying a new property?
With the passing of Propositions 60 & 90 you now have some pretty amazing options available to you. http://www.boe.ca.gov/proptaxes/faqs/propositions60_90.htm

Take a seat and read up ... more
1 vote Share Flag Sun May 3, 2015 Financing in 92886
jsoconno, Real Estate Pro in Asheville, NC
jsoconno answered:
True meaning of GFE "Required services that you can shop for"?
Regardless of what the rational might be, this is a bad practice that could result in tolerance cures to consumers who obtain loans through the Credit Union.

Only services that are ... more
0 votes Share Flag Sun Apr 19, 2015 Financing in Orange County
Sheryl Arndt, Real Estate Pro in California
Sheryl Arndt answered:
I had an accepted offer on a home using a FHA/HUD mortgage. The home didn't qualify septic/water issue, no one caught it until 24 h before closing
Hello lylith, no but if you are still in escrow you can ask the seller to reduce the price to fix it or buy it with 203k financing to do the repairs in the loan. You may qualify from a ... more
1 vote Share Flag Mon Apr 13, 2015 Financing in Brea
Sheryl Arndt, Real Estate Pro in California
Sheryl Arndt answered:
Conventional loan after 2 years past short sale?
Hello Karen, you can not qualify for conventional financing yet. You may qualify for FHA so do you need cash out as well? It only takes a few dozen questions to qualify and go over your ... more
0 votes Share Flag Thu Mar 26, 2015 Financing in 92626
Melvin List, Real Estate Pro in Florida
Melvin List answered:
my hone worth on zillow on 472k and my balance left is 300k. can i take cash out 150k for home addition?
Yes, I would contact someone that is familiar with the Homestyle Renovation Mortgage. If you are adding square footage to your home then it will be worth more once you are finished. T ... more
0 votes Share Flag Wed Mar 25, 2015 Financing in Anaheim
Jamie Tian, Real Estate Pro in Los Angeles, CA
Jamie Tian answered:
I had to foreclose on my 2nd home in southern California in March/April 2012. Can I refinance my existing home in Irvine? I have 20% equity.
Hi,

I would be happy to recommend a great lender to you to answer all of your questions about this if you would like. Just email me at Jamietian@RodeoRE.com and I will forward his in ... more
0 votes Share Flag Wed Jan 28, 2015 Financing in 92606
Riccardo War…, Real Estate Pro in Downers Grove, IL
Riccardo Wardlow answered:
Where can I find a super jumbo loan in CA with 90% LTV?
i do JUMBO loans in my sleep...

Riccardo Wardlow
Sales Manager
NMLS 219402
Cross Country Mortgage
630-670-8266
323 546 8066

Specializing in Illinois and California
RATED A+ ... more
1 vote Share Flag Mon Jan 12, 2015 Financing in Laguna Niguel
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