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Home Buying in Sacramento : Real Estate Advice

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  • Home Buying683
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Activity 749
Fri Oct 13, 2017
Ccraig answered:
There are other programs out there that may be more beneficial to you. I am a licenced loan consultant in California and Washington State. There are conventional 3% down options where the monthly Mortgage insurance is usually cheaper than FHA. Also with FHA your mortgage insurance is on there for the life of the loan.

Where as with a conventional 3% down loan it can be removed once you have enough equity in the property. Also with FHA you have to pay an upfront mortgage fee of 1.75%. Where as on a conventional loan there is no upfront fee.

FHA is a good loan if you have a low credit score. Otherwise I would definatly look at the other 3% down payment options! Hope that helps!

Call me if you got into one we could see if it would be beneficial for you to refinance out of it, and get a lower payment and hopefully have enough equity to remove the mortgage insurance!

Best Regards,

Cari Craig
Loan Consultant
Bay Equity Home Loans
NMLS # 96765
Bay Equity NMLS ID#76988
1914 N 34th Street Suite 200, Seattle, WA 98103
206-271-0105
https://www.bayequityhomeloans.com/cari-craig
http://bayeq.com/forms/homeloans/bay-equity-licensing.pdf
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0 votes 20 answers Share Flag
Mon Oct 2, 2017
Angelica P answered:
Hi,

I have emailed you regarding this.

Thank you for using Trulia,
Angelica
Consumer Care
0 votes 1 answer Share Flag
Tue Sep 19, 2017
Derek Jones answered:
Some things to think about; when you buy a house you'll have closing cost of about 2% of the purchase price and when you sell you can expect closing cost of about 5-7% of the purchase price. So if you buy at $350k you'll have closing cost of roughly $7,000 and if you sell at $400k you'll have closing cost of about $24,000. So that's about $31,000 taken away from any potential profit. So in a perfect world you may end up netting $20-25k if the above scenario happens but no one knows where home prices will be in the future.

Compare that to renting @ $1,000/m for 60 months is $60,000k down the drain...
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0 votes 1 answer Share Flag
Wed Sep 13, 2017
Jdediego answered:
Your best bet is to work with a real estate agent who can lead you through the process. If you would like, I am part of a real estate company that can set you up with a top agent in the area you are looking, there is no cost for our service. Go to my website http://www.ParkPlaceConnects.com/jdediego for more details. Let me know if you have any questions. ... more
0 votes 4 answers Share Flag
Sun Sep 10, 2017
Kathy Burgreen answered:
Owners of mobile home parks will not sell the land underneath your mobile home because they need the monthly rent income. If you own the land, the park owner cannot collect the space rent and to them, that is their monthly income. I doubt there are any mobile parks where you can buy the land underneath.

There are realtors who sell manufactured homes. You should go to www.mhvillage.com (manufactured homes village dot com). This website is only for mobile and manufactured homes - both in parks and not in parks.
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Wed Aug 30, 2017
Gail Mercedes Cole answered:
Hello

I am confused is the loan amount and payment same as in purchase agreement (escrow)? If the same is this the amount you have pre-approval for? Based on original loan amount and pre approved amount have you now decided out of your budget? Or has loan amount and payment amounts changed? If so do you even qualify for new amounts? Has your loan contingency been removed? I would get in contact with your real estate agent. They have the escrow instructions. Honestly, discuss why monthly payments out of your budget. Agent and their broker can inform you if earnest deposit at risk.

Gail Mercedes Cole
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0 votes 2 answers Share Flag
Wed Jul 19, 2017
Jmerrill%40gmail.com answered:
I bought my home in Old North Sac back in Spring of 2015, and initially I was apprehensive about crime. Even though the crime stats are low relative to other areas of the city where you can still buy a house for less than $250K, I was worried because there are homeless folks around. In reality, I have had zero problems in 2.5 years (even though I walk around in the neighborhood, and use the train and bus daily). Well actually – full disclosure – I once caught a lady picking grapefruit from my tree. I just told her to take what she could carry, and to ask permission next time. Never saw her again.

One of the older comments on this thread talks about how the neighborhood isn’t bad (true), but that seeing homeless people regularly grinds you down a bit. I would say this is also true. The antidote for me was first getting to know my neighbors (just quick chats in passing over the years), and then I really started to feel good once I found a neighborhood group. They helped me learn about the projects & businesses going in on Del Paso Blvd. I also feel more invested in the neighborhood, have met other residents, homeowners, and business owners in the area, and even made new friends through the group.

After a couple of years, I’m happy with my decision to move here. I’m glad I bought a home I can afford without stretching, that my apprehension about crime turned out to be largely unfounded, and that the neighborhood is on the upswing.
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1 vote 7 answers Share Flag
Mon Jul 10, 2017
Redd Foreman asked:
So my wife has a judgement of near $10,000. I'm planning to purchase a home for us but she would not be on the deed, title, mortgage etc. I live in a community property state of California.…
0 votes 0 Answers Share Flag
Wed Jul 5, 2017
answered:
Hello Lio, you would need to get pre-approved first to know what your purchase power is and how much your maximum payment you are looking to achieve will buy.

Do you have down payment and closing costs saved or do you need down payment and closing cost assistance programs? Do you know your fico scores and if you have any credit issues that are reporting incorrectly?

Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 3 answers Share Flag
Sun Jul 2, 2017
Rich Reed answered:
Hi, Julie, your purchase agreement may include terms of "CLOSING AND POSSESSION." Under these terms, the parties agree to such items as to whether the property will be delivered vacant or not and if the buyer will be provided with keys.
Ask your Realtor to review the purchase agreement with you; consult with an attorney if you need legal advice.
Hope this helps!
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0 votes 1 answer Share Flag
Wed Jun 28, 2017
Arpad Racz answered:
Hi Cheri,
The lender may need to communicate with the agent for several reasons. Some May be: a copy of the contract, a copy of the preliminary title report, the contact information for the title/escrow company, access to the property for an appraiser, to coordinate signoff, when addendum or other changes are made, and other issues on a case by case basis.

Kind regards,
Arpad
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0 votes 19 answers Share Flag
Tue Jun 27, 2017
Randall Ortiz answered:
For California only, we work with ITIN loans. In order to get an ITIN loan, you will need at least 20% down, two years tax returns, 60 days bank statements, 30 days paystubs, ITIN documentation, drivers license and we will also run your credit. We only operate in California. ... more
0 votes 2 answers Share Flag
Wed Jun 21, 2017
answered:
I am wanting to know, There is a home that I love that is going at a online auction. Next month I would have to get a hard money loan. What are the guidelines for applying for this type of loan how longs does it take to get approved.


Thank you,
Alicia
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0 votes 8 answers Share Flag
Wed Jun 7, 2017
Derek Jones answered:
Sounds like you haven't bought this house yet? So ask yourself, is it deterring you from wanting to purchase it? Depending on the neighborhood those can be a common occurance so anyone looking to live in those areas "shouldn't" have a problem with them but I'm sure there are some people who would prefer not to have that easement on their property. ... more
0 votes 1 answer Share Flag
Sun May 28, 2017
Sally Grenier answered:
I like to have my clients get an inspection about 10 or 11 months after you move in. This way, if anything comes up, you'll still be under warranty and can go back to the builder with a list of items they need to correct. For the walk through, that really the time for inspection issues. It's usually an opportunity to "blue tape" things that they can fix easily (cosmetic issues usually). ... more
0 votes 4 answers Share Flag
Wed May 24, 2017
Larry Managkotay answered:
I would recommend you using River View custom home builder, they're offering to build luxury new home or large scale renovation at affordable price rates than the other that I've googled, if you have questions or your interested, visit their site here: http://riverviewcustomhomes.ca? I hope it helps ... more
0 votes 57 answers Share Flag
Mon May 22, 2017
Derek Jones answered:
Become familiar with county zoning regulations. Feel free to read up on the matter here:

http://www.per.saccounty.net/LandUseRegulationDocuments/Pages/Sacramento%20County%20Zoning%20Code.aspx ... more
0 votes 1 answer Share Flag
Mon May 15, 2017
answered:
Hello Terryr, These links may assist you with crime statistics:
http://www.crimemapping.com
http://www.crimereports.com
http://www.everyblock.com/
http://www.localcrimenews.com
http://www.mylocalcrime.com
http://www.spotcrime.com/ca
http://www.meganslaw.ca.gov
http://www.neighborhoodscout.com/
http://www.homefair.com/

Theses links should have the answers to any questions you may have on schools:
http://www.greatschools.org/
http://Www.schoolfinder.ca.gov
http://Www.education.com
http://Www.schooldistrictfinder.com
http://Www.schooldigger.com
http://www.sarconline.org/

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 any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Mon May 15, 2017
Floridalvr287 answered:
This is a very old question. Can you provide any updates? Where is a good area for buying a rental home that will at least pay for itself? Prices have gone up so much in the last 2 years. ... more
0 votes 5 answers Share Flag
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