Financing in Los Angeles : Questions & Answers

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WhaleyRealty…, Real Estate Pro in Sevierville, TN
WhaleyRealtyCRL answered:
I'm trying to get preapproved for an FHA and/or 203K Loan and I keep getting varying amounts.
The accurate preapproval will be done when you give all your documents to a direct lender. W2's,pay check, bank statements, credit ran..etc.etc...until one gets all those plus a few mor ... more
0 votes Share Flag Mon Aug 31, 2009 Financing in 90041
,  in
MIP/PMI Insurance premium is built into the loan but I still have to pay it?

It seems you are taking out an FHA loan. You pay two different Mortgage Insurance (MI) payments with an FHA loan. An up front MI fee equal to 1.75% of the loan amount. And ... more
0 votes Share Flag Thu Aug 13, 2009 Financing in Los Angeles
Dee, Other/Just Looking in Charleston, SC
Dee answered:
If there any chance for me to get a low income apartment if I don't have any credit?
First of all, are you employed full-time and have some time on the job? How many people are in your family? If you are single or married have children or not, make little or no wages, h ... more
0 votes Share Flag Sun Aug 2, 2009 Financing in 90026
Steven Ornel…, Real Estate Pro in Fremont, CA
Steven Ornellas answered:
How do I calculate the interest earned on my security deposit, with a different interest rate each year, and?
Depends. Is it Simple or Compounding Interest?

Simple interest is calculated only on the principal amount, or on that portion of the principal amount which remains unpaid.

Compoun ... more
0 votes Share Flag Wed Sep 28, 2011 Financing in 90067
M.D.J,  in Los Angeles, CA
M.D.J answered:
FHA streamline refinance.....I purchased my home last November and was told that this past April or May would

That would really depend on your current loan amount and rate. You might need to take advantage of what is available now instead of waiting for something that might never appea ... more
0 votes Share Flag Wed Jul 29, 2009 Financing in Los Angeles
Lynn  Crosby, Real Estate Pro in Dallas, TX
Lynn Crosby answered:
I am in the process of refinancing the loan on my condo with Bank of America.
Why would it take 3 months for a budget would you not all ready have on in place.

However I understand budgets don't happen over night or have HOA speak with B A determine what wou ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in Los Angeles
Robert Spino…, Real Estate Pro in Mill Valley, CA
Robert Spinosa answered:
Condo loan rate

My guess is that your real issue is not the condo hit, but that this lender is making you feel like they're putting the genie back in the bottle. Consider these two scenar ... more
0 votes Share Flag Tue Jul 21, 2009 Financing in Los Angeles
,  in
a lender is seeting me up with an outside credit repair person, another atty to negotiate my trust, even
The answer to your general question is yes...but I am not sure if I would call it scammy, or more likely unnecessary. Credit repair people are typically unnecessary, as there is not mu ... more
0 votes Share Flag Mon Jul 6, 2009 Financing in Los Angeles
Christian Bo…, Real Estate Pro in Celebration, FL
Christian Bohyn answered:
In the short-sale of my condo, how do I know that my mortgagee complied with the new game-changing HVCC rules?
I suggest that you ask him.
I don't know about CA but here in FL we have a sellers disclosure form and that is where the seller has to write down all repairs and modifications.
And th ... more
0 votes Share Flag Thu Jul 23, 2009 Financing in Los Angeles
California H…,  in Los Angeles County, CA
California Homes & Mortgages answered:
Been pre-qualified but now will have a collection on my account for old medical bill how will this affect me?
Hi Claudia,

My advises would be, yes, pay.

With interest rates being so low, 1. you are making an excellent decision to buy. 2. You are getting the lower rate than if your colle ... more
0 votes Share Flag Fri Jun 19, 2009 Financing in Los Angeles
Corey Grushin, Real Estate Pro in East Brunswick, NJ
Corey Grushin answered:
Is this a trick from the builder preferred lender?
Bobaboba, it does sound like a bunch of BS. Wholesale lenders market to other lenders or brokers, so the public wouldn't deal with them directly unless they had a retail division. Sta ... more
0 votes Share Flag Fri Jun 19, 2009 Financing in Los Angeles
Luke Allison,  in Asheville, NC
Luke Allison answered:
I have to refinance a 490k loan, Im located in LA County, CA. Is it considered a jumbo loan?
No, in LA county you can now refinance this loan as a jumbo conventional loan. You can do this through Fannie Mae, Freddir Mac or FHA. All 3 would have considerably better interest ra ... more
0 votes Share Flag Fri Jun 12, 2009 Financing in Los Angeles
Realtorbradr…,  in Encino, CA
Realtorbradroth answered:
Do not lock your interest rate unti the price has been approved by the bank. You only get a 30 to 60 day lock and sometimes it takes far longer on a short sale.

Brad Roth
E ... more
0 votes Share Flag Wed Jun 10, 2009 Financing in Los Angeles
Hannah Flieg…, Real Estate Pro in ,
Hannah Fliegel answered:
Hi Friend,

There are two items here. We are talking about the Deed and we are talking about the loan. Therefore, regarding the loan if the HELOC is against your property and your b ... more
0 votes Share Flag Sun Jun 7, 2009 Financing in Los Angeles
Monique & Joe…, Real Estate Pro in Los Angeles, CA
Monique & Joe Carrabba answered:
I'm a teacher at a school, and I'm not being paid during the summer... But I will start getting paid again in
Hello Soybased,

Good for you. It's a good time to take advantage of the tax credit. FHA financing should take into account your time you are off work. It's best to speak to your lend ... more
0 votes Share Flag Tue Jun 16, 2009 Financing in Los Angeles
Yanni Raz, Real Estate Pro in sherman oaks, CA
Yanni Raz answered:
Are there 100% Financing or FHA Loans or loans with little to no down payment for New "PREFAB" Construction?
It will not be easy to get a construction loan these days from any bank specialy for manufactured home.
You could go hard money, but it will still be hard to get a hard money investor ... more
0 votes Share Flag Fri Jun 12, 2009 Financing in Echo Park
M.D.J,  in Los Angeles, CA
M.D.J answered:
Looking for FHA Streamlined 203(k) Lender
Feel free to contact me, I do both the FHA 203k standard and streamline.

More than happy to answer any questions.
0 votes Share Flag Thu Oct 29, 2009 Financing in 90063
Forefront Re…, Real Estate Pro in Rancho Cucamonga, CA
Forefront Real Estate answered:
New Homeowner applying for a loan
Hi Emma,
The first thing you should find out is the exact FICO score, more importantly, the "middle score". You actually have three different scores, one for each reporting company ( ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in Los Angeles
Alexandra Pa…, Real Estate Pro in Montebello, CA
Alexandra Parra Rivera answered:
Where would I find the Condo ID#, that is needed to apply for FHA Loan. Property address 5000 Centinela #144

The management must know if the association is approved by FHA if not the lender can do a spot approval.

0 votes Share Flag Tue May 19, 2009 Financing in Los Angeles
John Barry, Real Estate Pro in ,
John Barry answered:
i purchased my home prior to getting married and laid out a substantial down payment. now i am refinacing and
Hello Nurse,

I am not familiar with the real estate laws in Missouri, but if you are talking about property in California, you are correct. As California is a community property law ... more
0 votes Share Flag Sun May 10, 2009 Financing in Los Angeles
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