Home Buying in Salinas : Questions & Answers

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Michael Cheng, Real Estate Pro in San Jose, CA
Michael Cheng answered:
My husband and I have poor credit. We are looking at a house that costs about 300,000. Would any bank loan us money?
Unfortunately, it's your lack of downpayment that is a bigger constraint in this market. There are banks who can handle little credit to poor credit, but without a significant downpaym ... more
0 votes Share Flag Fri Oct 10, 2014 Home Buying in Salinas
Luis Cano, Real Estate Pro in Monterey, CA
Luis Cano answered:
I'm a first time homebuyer that needs help?
Here it is, Keith Collins. Office: 916-253-7820 Cell: 916-759-7354 email: kcollins@alpinemc.com web: www.alpinemc.com/Keithcollins best loan officer I have ever used. He has been doing ... more
0 votes Share Flag Wed Jan 30, 2013 Home Buying in Salinas
Ross V Ramsey, Real Estate Pro in Salinas, CA
Ross V Ramsey answered:
I am interested in finding out the actual current inventory of foreclosed homes in Zip Code 93901.
Hey Bill...there is not a "single" definitive source for answering your question. However, look at
owners.com and Monterey County for an idea...Thanks, ROSS
0 votes Share Flag Thu Dec 6, 2012 Home Buying in 93901
Kathy Ishika…, Real Estate Pro in 95003
Kathy Ishikawa answered:
how much money would you need to make in order to qualify for a $300,000 loan?
I can ballpark that you would need somewhere in the range of a $5000/mo gross income to qualify for a $300k mortgage. HOWEVER, there are too many variables that affect a loan to be abl ... more
0 votes Share Flag Tue Nov 20, 2012 Home Buying in Salinas
Jesse Reyes, Real Estate Pro in Gilroy, CA
Jesse Reyes answered:
buying a home with section 8
Hi Julie,

I don't think you can buy a house when you are on section 8 but there is a voucher that helps you towards purchasing the house. I do know that once you purchase a home, you ... more
0 votes Share Flag Tue Nov 20, 2012 Home Buying in Salinas
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Is it possible to buy a home with only 5% down payment?
FHA doesn't have a limit on income, you can purchase with a FHA mortgage with 3.5% down or you can purchase with conventional with 5% down. There are a few more low down payment options ... more
0 votes Share Flag Tue Nov 20, 2012 Home Buying in Salinas
Jeanne Zolle…, Real Estate Pro in 60462
Jeanne Zoller-Mulville answered:
I can afford 1500 on mortgage, can somebody pls tell me how big and what would a house cost me with that amount of mortgage
are you factoring in the annual taxes and your annual homeowners insurance ino that amount? Or is that $1500.00 just the amount you are going to use for the home?...and you have extra ... more
0 votes Share Flag Tue Nov 20, 2012 Home Buying in Salinas
Monterey Pen…, Real Estate Pro in Pacific Grove, CA
Monterey Peninsula Home Team answered:
what do i need to bring to closing?
I would guess that you are asking what to bring to the signing? Here in CA we do not actually close escrow at the signing ike they do in many other areas of the US. All you need to br ... more
0 votes Share Flag Mon Jun 18, 2012 Home Buying in Salinas
Curt Abramson, Real Estate Pro in Santa Cruz County, CA
Curt Abramson answered:
what do i need to bring to closing?
That depends on whether you are buying or selling, and what other circumstances are involved. At a minimum, bring picture ID. If you are supposed to contribute funds, either a cashier's ... more
0 votes Share Flag Mon Jun 18, 2012 Home Buying in Salinas
Regina Shaw, Real Estate Pro in Monterey County, CA
Regina Shaw answered:
my husband has worked since03 with a work permit currently he has no legal status can we apply for house loan
Hello Azael,
Please contact Ivan Barriga his company does I-TIN loans for persons without SSN#.
ibarriga@myctcu.com
I hope this was helpful. Thanks,
0 votes Share Flag Thu May 17, 2012 Home Buying in Salinas
Susan Lubin-…, Real Estate Pro in Salinas, CA
Susan Lubin- Brownlie answered:
my husband has worked since03 with a work permit currently he has no legal status can we apply for house loan
I suggest that you call a lender in Salinas- Joseph Sanchez @ Prospect Mortgage -he will be able to answer this question for you. I am a Realtor in Salinas and unfortunately do know th ... more
0 votes Share Flag Fri Jan 25, 2013 Home Buying in Salinas
Teryl McGowan, Real Estate Pro in Queensbury, NY
Teryl McGowan answered:
How long do i have to wait after banrup to buy a home?
You need to speak with a mortgage counselor about your personal circumstances.
0 votes Share Flag Thu May 3, 2012 Home Buying in Salinas
Steve Ornell…, Real Estate Pro in Fremont, CA
Steve Ornellas answered:
Does anybody know what your minimum credit score needs to be in order to qualify for a FHA home loan from bank of America or any lender?
Jessica:

Here's a link indicating you may be able to buy with:

A 3.5% down payment if you have a min credit score of 580+.
A 10% down payment if you have a min credit sco ... more
0 votes Share Flag Sun Feb 12, 2012 Home Buying in Salinas
Margaret Has…, Real Estate Pro in 33544
Margaret Hassani answered:
A person is about to be forclosed and wants me to buy the house and he will provide the d.p. and cl.costs and make monthly pmt w/taxes, ins and mort?
That is not allowed by the banks. As to the legality, you will have to speak with a qualified attorney.
0 votes Share Flag Sun Nov 27, 2011 Home Buying in Salinas
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
how can i qualify to buy a home if i dont have good credit due to hospital bills?
There are other factors that determine qualification in addition to credit, therefore consider visiting with any qualified loan officer; after reviewing your overall finaqncial informat ... more
0 votes Share Flag Sat Apr 2, 2011 Home Buying in Salinas
Maureen Mason, Real Estate Pro in 93950
Maureen Mason answered:
Are there any home buying programs out there for teachers / educators>?
Hi Rais-
You may want to look into the California State Teachers Retirement Program options. Here's a link http://www.calstrs.com/Members/Home%20Loan%20Program/
Thank you for bei ... more
0 votes Share Flag Sun Mar 2, 2014 Home Buying in Salinas
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Can we get the deposit back?
Much will depend on your contract, review the document as the answer lies in it, or consult with an attorney who specializes in real estate and have all related documentation reviewed, ... more
0 votes Share Flag Tue Mar 22, 2011 Home Buying in Salinas
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
How much should I expect to pay an appraiser for a house I'm interested in buying? It is almost 50 years old and poorly built.
What you believe value of home is based on what ? Has your Realtor provided you comp's for the property prior to investing money for an appraiser.

Most appraisers are appointe ... more
0 votes Share Flag Tue Dec 28, 2010 Home Buying in Salinas
Linda Grey,…, Real Estate Pro in 32128
Linda Grey, Realtor, e-Pro,SFR answered:
I co-signed for my son-in-law to get a mobile home. He is trying to trade it in for a new model. Can he do this without having me signing?
Hi,

The best thing to do is check your paperwork, if your name is on the title probably, but since I am not a GA Realtor I really can not say for sure, rules are different from state ... more
0 votes Share Flag Sat Nov 6, 2010 Home Buying in Salinas
James Gordon…, Real Estate Pro in Cincinnati, OH
James Gordon ABR PBD SFR SRS answered:
I offered the appraisal value on a short sale with an FHA of 3% back for closing. What are my chances the investor will accept my offer?
buyer831 just a little more information please. Who did you have do the appraisal?
0 votes Share Flag Mon Oct 18, 2010 Home Buying in Salinas
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