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Financing in Corona : Real Estate Advice

  • All537
  • Local Info36
  • Home Buying219
  • Home Selling16
  • Market Conditions17

Activity 15
Mon Apr 24, 2017
Cccardarelli asked:
Thu Dec 22, 2016
answered:
I have gotten up to 56% but it depends on credit profile, fico scores and the loan program.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 9 answers Share Flag
Wed Jun 10, 2015
Joyce Barnett answered:
Denise, you have a great FICO score. Keep up the good work. The answer to your question is maybe it all depends on how much debt you have like car loans, credit card debt etc. I have known people that make a lot of money but have major debt or if you own your own business and write off a lot and don't show a lot of income at the end of the year. Call me I am a local Realtor in the area I would be happy to help you. ... more
0 votes 11 answers Share Flag
Fri May 29, 2015
answered:
Hello John, you may refinance to conventional financing to eliminate your mortgage insurance if your property has enough value which it very well may have by now.

It only takes a few dozen questions to qualify and go over your options. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
... more
1 vote 2 answers Share Flag
Wed May 20, 2015
answered:
Hello tynsonya, yes there is a Section 8 rental voucher program that can be converted to a Homeownership voucher program if you have received Section 8 for minimum one year. You will also need 1% of your own funds and minimum 640 fico score to qualify.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve and you can be emailed listings to fit your search criteria.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
... more
0 votes 1 answer Share Flag
Fri Apr 11, 2014
J Mario Preza answered:
Hello fellow agent. Your situation is not that unfamiliar to me here in California. When the market was weighted towards foreclosures, short sales, and the likes, many of the properties wound up in the hands of agencies that followed marching order. Some banks insisted on having specific escrow companies; others required certain procedures, etc.; and others, as in your case, asked to be pre-qualified (and not necessarily use) by a certain lender. The legalities of these practices have always been a sore spot, but remember, we're not lawyers, and the law isn't our area of expertise. Thus, he who controls the inventory can dictate terms, and if you, your client wants to play in their field, in spite of the apparent "unfairness" of this practice, you'll have little choice (other than to sell another house without such conditions). ... more
0 votes 35 answers Share Flag
Fri Mar 21, 2014
Kim Kenefsky answered:
As an agent I have worked with many Lenders, the absolute best ive ever worked with has exceeded every expectation I had, which I have very high expectations. Shes been in the industry for over 20 years, and knows every angle one could attack to use to their benefit. Shes happy to go over all of your options and explain the pro's and con's of each program. She works at WJ Bradley, a hugely respected local direct lender in the Inland Empire. Her name is Christine Eskina 909-229-2785. She is happy to help anyone that needs help. ... more
0 votes 6 answers Share Flag
Wed Sep 18, 2013
answered:
Hello and Good morning.

Unfortunate;y even a VA loan required a minimum score of a 640. There are things you can do to get your credit score higher. If you need assistance, my company offers score improvement services, which are guaranteed to get you qualified for a mortgage.

Best of Luck;


Christina Solorzano
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
http://www.everlastingcredit.com
... more
0 votes 1 answer Share Flag
Thu Sep 12, 2013
Gregorio Denny answered:
The problem with small loan amounts is that certain fees are what they are regardless of the selling price. This is exactly why most cannot even do loans of this amount, it equates to a "high cost loan." You should certainly check each fee to verify it, but don't be surprised if the ratio of fees to loan amount is much higher on these very small loans. It's just how it is. ... more
0 votes 2 answers Share Flag
Mon Nov 7, 2011
Luis Renteria answered:
We are still originating CHF Access Loans. In fact we are the master servicer.

Luis
lrenteria@firstmortgage.com
408-223-0940
0 votes 2 answers Share Flag
Thu Sep 9, 2010
Jerry R. Ray answered:
If your credit is tarnished and the terms are equitable from the seller, run with it.

Make sure you have an attorney look through your seller carry contract with your best interest in mind. ... more
0 votes 2 answers Share Flag
Tue Feb 23, 2010
Renee Lewis answered:
Hi, my name is Renee Lewis and I have a team of experts that I work with who specialize in mortgages, tax, real estate, debt, investments or any financial issue. There is an excellent CPA in Corona who I would recommend. Call me and I can direct you to him. I live in Corona also.

Renee Lewis
Financial Advisor
951-781-0573
... more
0 votes 3 answers Share Flag
Sat Jan 9, 2010
answered:
Yes, the costs are too high unless the $19,000 includes your down payment.
1 vote 7 answers Share Flag
Fri Sep 11, 2009
Connie Bramble answered:
Are you the buyer or the buyers agent? Who chose the lender buyer or buyers agent? the buyers agent should be on the lender getting answers to the question of where are the loan docs? Ask what specifically is the problem. Did you interest reate change more than the percentage allowed so now there has to be a waiting period? Could be nothing, could be serious!!! Either way the lender KNOWS what the problem is and if they refuse to tell you what the trouble is, get a new lender NOW. Don't wait. Your agent should be doing this already.
Connie Bramble
714-337-8718
... more
0 votes 3 answers Share Flag
Thu Mar 27, 2008
Sean Giorgianni answered:
There's a famous Seinfeld episode about double dipping. Normally I don't double dip, but I thought about your question last night and I awoke with the following thoughts:

(1) Watch your loan fees carefully. A low interest rate loan may end up costing you more in the long run because of the fees involved.your lender is required to give you what's called a Good Faith Estimate (GFE). Carefully compare it to your HUD-1 that you get just before closing to make sure there are no surprises. Try MortgageAnswersFast.com for a detailed explanation of how to analyze a GFE (I do this as a na dded service for my Buyer's).

(2) Be wary of advertising. Many lenders try to entice you by saying "rates will never be lower because the Fed just cut it's rates." Truth is, rates are not controlled by the Fed. They
re tied to what's called Mortgage Backed Securities (MBS) and what investor's are willing to pay for the MBS.

(3) Consider paying more for your house. Sounds crazy, doesn't it? But it may be to your advantage to pay more so that you can use that extra money to buy down your interest rate.The monthly payment can be reduced substantially, saving cash flow in the short run while increasing your principal balance in the long term. You can also use the money to buy out Private Mortgage Insurance (PMI). Dan Isham (disham@atlasprincipal.com 909-793-1878) can help you calculate the actual savings.

(4) Know your PMI options. PMI prrotects the lender from losses if you default on the loan. You must pay PMI if you have less than 20% down on a conventional conforming mortgage. Rates will vary depending on your credit score. Usually PMI is paid monthly. But there are other options, including lender-paid PMI (the premium is added into the interest rate of the loan). Consult a good lender about other options.

(5) Watch your credit score. With less than 20% down small differences in your credit score can mean a big difference in your rate or fees. Don't clsoe accounts. Instead, distribute your balances evenly and use old accounts every few months to keep them active. Check your credit report for errors and get them corrected. You can get a free copy of your credit report at www.annualcreditreport.com or call 1-877-322-8228.

Email me at sean.giorgianni@gmail.com or call me at 951-571-9229.
... more
1 vote 6 answers Share Flag
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