Financing in California : Questions & Answers

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Maria Esparza, Real Estate Pro in Chula Vista, CA
Maria Esparza answered:
Is there rent to own homes in 92139 area or modular homes for sale?
Hi John,
in this marker, rent to own does not favor the buyer. Your best bet is to go the normal route. contact me.
I have many years experience and can help you with your specific Re ... more
0 votes Share Flag Wed Mar 27, 2013 Financing in Chula Vista
Charles Lee, Real Estate Pro in Irvine, CA
Charles Lee answered:
Condo with HOA litigation
tough! most lenders req condo certification which involves a list of questions on litigation, rental vs owner-occupied ratio, delinquency, etc. only a handful of lenders don't ask for ... more
0 votes Share Flag Tue Dec 17, 2013 Financing in Irvine
Sheryl Arndt, Real Estate Pro in California
Sheryl Arndt answered:
need help to buy a with 620 credit score after 18 months of short sale e mail me akqwana@aol.com
Hello akqwana, You will need 20% down, minimum 660 fico score and 24 months from a short sale to qualify at the earliest. At 3 years from a short sale you may qualify with a minimum 580 ... more
0 votes Share Flag Sun Sep 1, 2013 Financing in 94588
Michael Abram, Real Estate Pro in Los Angeles, CA
Michael Abram answered:
Financing for a first time buyer, with FICOS in the 700 range & 3 to 5% down
Hello Susan,

Look no further! I have a lender that will go 5% down with no PMI on the loan. Feel free to give me a call or email to discuss.

Have a great day!


Michael Abram ... more
0 votes Share Flag Sat Mar 16, 2013 Financing in Canyon Country
Greg Cook 95…, Real Estate Pro in Temecula, CA
Greg Cook 951-265-4532 answered:
Help! Verification of Employment gone too far
Dear Lizzy, not all lenders underwrite the same and it may be as simple as getting an explanation letter from your employer explaining what you just told us.
The underwriter is just be ... more
0 votes Share Flag Wed Mar 13, 2013 Financing in Temecula
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
Mark Evans, Real Estate Pro in Saratoga, CA
Mark Evans answered:
Are there any lenders giving loan for buying raw land?
Yes, there are many funding options for buying land. They depend on the intended term, use and present zoning and location. Rates vary by the term in years and often land loans are gra ... more
0 votes Share Flag Sat Aug 24, 2013 Financing in 95070
Walter. S, Real Estate Pro in Los Angeles, CA
Walter. S answered:
Need VOE only mortgage for riverside San Bernardino counties. 685 Fico, 30% down.
The loan amount will be around $80-100k. No private loans please. Please leave your info i will call you. thank you!
0 votes Share Flag Wed Mar 13, 2013 Financing in Los Angeles
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Excess closing cost money question in California (purchase)
You should ask your loan officer how much it is to lower the rate 1/8th. You can always use it to buy the rate down. You may also be able to have it applied as a principal curtailment i ... more
0 votes Share Flag Thu Mar 21, 2013 Financing in San Diego
Ron Escobar,…, Real Estate Pro in 90019
Ron Escobar, Broker answered:
Hello, We are obtaining a loan from a lender we actually never want to work with again and they have a disclosure about "servicing" our
Yes. It is typical. It happens to most loans... all the time... you should be able to trust your loan officer, if you do not trust them why are you doing business with them? and vice ... more
0 votes Share Flag Tue Mar 12, 2013 Financing in Los Angeles
Sheryl Arndt, Real Estate Pro in California
Sheryl Arndt answered:
Can I get more than one home loan to buy a house? Like if I get approved for 100,000 but want a house that is 160,000. Could I get another loan?
No and yes. It only takes a few dozen questions to qualify you in minutes for the options you may qualfiy for with a first and second mortgage.

http://www.under640ficoscoreloans.com ... more
0 votes Share Flag Sat Mar 16, 2013 Financing in Pleasanton
Tori Murillo, Real Estate Pro in Palm Desert, CA
Tori Murillo answered:
I recently purchased a moble home in Palm Desert all cash. Do you have lenders that will refinance or provide home improvement loans?
Please contact 21stmortgage.com as they lend on manufactured homes. Call me if you have any questions.
0 votes Share Flag Tue Mar 12, 2013 Financing in Palm Desert
Thierry Abel, Real Estate Pro in California
Thierry Abel answered:
Should I refinance and convert my FHA loan to conventional so I can get rid of MIP (PMI)?
You just need a minimum of 10% equity to refinance and get rid of your PMI.

Thierry

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 46 ... more
0 votes Share Flag Mon Feb 17, 2014 Financing in Orange
Thierry Abel, Real Estate Pro in California
Thierry Abel answered:
Is there a penalty for paying off a mortgage early?
Not all mortgages have a pre-payment penalty period attached to them.
You might want to refer back to the Note associated with your loan. If there is a pre-payment penaly is should inc ... more
0 votes Share Flag Mon Apr 1, 2013 Financing in San Jose
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Anyone know of a lender who can finance on a condo with an HOA in litigation?
If that is the only issue, then I can assist you with that.
0 votes Share Flag Sun Mar 17, 2013 Financing in Los Angeles
Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence 727.420.4041 answered:
Is it common practice for home sellers to request a buyer be pre-qualified a second time by their own mortgage provider?
Depends on the date shown on the Pre-qual you submitted with your purchase offer.
Some brokerages REQUIRE a pre-qual from their preferred lender to vet a buyer. The buyer can use any l ... more
0 votes Share Flag Sun Jun 16, 2013 Financing in West Hollywood
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
Can we buy a house with no down payment?
Yes, there are some loans that require 0% down but they are few and limited to some locations. My gut feeling is you will not be able to do them and will need an FHA which requires just ... more
0 votes Share Flag Sun Mar 17, 2013 Financing in 91763
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Hi. Looking for 5% conventional mortgage on owner occupied duplex in the East Bay.
I'll make it easy for you... That's not going to happen.

I have no idea what Lowell is talking about but it certainly is not about getting conventional financing at 95% on a duplex. ... more
0 votes Share Flag Wed Feb 27, 2013 Financing in Alameda County
Charles Lee, Real Estate Pro in 90069
Charles Lee answered:
Can i get a home loan with a 560 credit score?
yes with 25-30% down.
http://www.theboydcapitalgroups.info/
0 votes Share Flag Wed Nov 13, 2013 Financing in 92301
Charles Lee, Real Estate Pro in 90069
Charles Lee answered:
When buying a mobile home can I look at it then go get the loan from lender first time buyer any advice would really be appreciated?
Look at funding before you do anything, you dont want to waste you time or the agents time,
0 votes Share Flag Sat Feb 23, 2013 Financing in Sylmar
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