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Financing in Burbank : Real Estate Advice

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  • Local Info13
  • Home Buying58
  • Home Selling4
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Activity 7
Thu Jun 2, 2016
answered:
Sounds like a slam dunk to me.

Unless I am missing something. I do specialize in getting the lowest rate possible for people with less than perfect credit.

714-968-2500

Equal housing lender National Mortgage Licensing System #287206 CA BRE Lic # 01080071 ... more
0 votes 6 answers Share Flag
Mon Oct 14, 2013
Richard- El Bey answered:
Foreign National Loans

Borrowers using TIN Okay
Borrowers with NO CREDIT SCORE
Borrowers with NO SSN
Foreign Nationals {Expatriate}- NO PASSPORT {Must have valid work visa or 30% Down}
70% LTV Purchases
65% LTV Rate & Term Refinance
50% LTV Cash Out {Possible higher if financials are up to par}
Multiple properties OKAY
Corporation purchasing and refinancing OKAY

Richard- El Bey
Avarice Investments
(706) 399-7813 cell
(678) 752-8062 Office
thegocp@gmail.com
... more
0 votes 10 answers Share Flag
Mon Jun 27, 2011
Shane Milne answered:
If you are buying (meaning you do not own it yet) a multi-unit property then you cannot use any of the rental income for down payment or it'll have implications - as the rental income belongs to the owner (the seller) so if they were to give you any of their rental income as the down payment it is treated as an "inducement to the sales price" and would reduce the value the lender uses $4$ - meaning if you are buying a place for $100,000 and it appraises for $100,000, and the seller gives you $1,000 (for whatever reason) then the lender treats the value as $99,000 and will base all loan-to-value calculations off of that. ... more
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Fri Oct 23, 2009
A Gonz answered:
Hi Didi, although most townhomes have a similar legal structure to condos they are not treated as such when being priced and most lenders do not charge additional fees for townhomes (often PUDS) Condos are a completely different beast.

You must first find out if your lender/broker locked-in your loan rate and for how long was the lock in (10,15,30 days)

When you say contract I assume that you mean that you signed the closing documents, so if that is the case most likely then the rate was already locked in because it is required that the rate be locked prior to closing and in that case there could be no further changes to your loan unless your lock-in rate expired during the 3 day recission period and then that would give the lender/broker and opportunity to change the rate and or costs to cover any possible losses to his yield spread (YSP) from any changes in your old rate. It's a little complicate however any responsible (professional lender/broker) should have made you aware of these possible changes. Any changes which adversely affect your rate or costs most be re-disclosed prior to closing and failure to do so could be costly to them.
... more
0 votes 9 answers Share Flag
Thu Aug 13, 2009
M.D.J answered:
Your best bet would probably be the FHA 203k loan which has no limits on repairs other than the maximum loan amount for the county the property is located in as well as what type of property 1-4 units. Go to...

www.203kmortgagelender.com

Or, you could get an alternative to the 203k loan that is a regular conventional loan if the repairs or no more than $15k.

Any questions let me know, good luck to you.
... more
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Mon Aug 10, 2009
Christopher Pagli answered:
Yes, absolutely. Just be sure the appraiser is familiar with the area.

Chris
0 votes 7 answers Share Flag
Fri Apr 18, 2008
Phyllis Harb answered:
Doug, be careful! Why are you having difficulty obtaining financing on a co-op? Resale could be a problem if the new buyer can't get financing. Co-ops generally sell less than condo because of this. AND Wells Fargo may be able to help with the loan. ... more
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