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Home Buying in San Leandro : Real Estate Advice

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  • Local Info8
  • Home Buying46
  • Home Selling6
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Activity 68
Thu Aug 25, 2016
Valli Lopez answered:
It matters, but you need a lender who is flexible and has common sense. Listing your house on your application as PENDING will be better than saying it's still for sale and hitting you with the debt. I specialize in helping borrowers fit inside the box the lenders are looking for and getting it to where we can make it work. I also pay all closing costs at competitive if not the best interest rates.

Valli Lopez
NMLS 980530
619-916-9595
Valli@ValliLopez.com
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0 votes 4 answers Share Flag
Thu Jul 7, 2016
Felisabaker answered:
It depends upon your Financial ability to buy. Get a Preapproval first, from a Lender then you will know how much you can afford to buy. Watch for your FICO score, it's relevant on your mortgage rates. Have a down payment ready, then you will be sailing in a better position. ready to buy any time. ... more
0 votes 30 answers Share Flag
Thu Apr 28, 2016
Terry Bell answered:
I presume you are talking about a realtor to work with you on a purchase, rather than listing your home. You might ask whether the realtor is familiar with the area you want to buy in. Whether they have a strategy for dealing with multiple offers, common in the bay area, and what they think you need to do to be ready to get into the market! ... more
0 votes 2 answers Share Flag
Thu Apr 28, 2016
Terry Bell answered:
Most manufactured homes have lenders that specialize in that type of construction, whether if on your own land, or in mobile home parks. If you contact a realtor in the area that you are interested in, I am sure they can give you some referrals, or you can google. I handle many manufactured home sales up here in Sonoma county and can help in this area. ... more
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Thu Mar 24, 2016
Claudia Muller answered:
Wool:
Have parents transfer money to your account via wire.
If you are in the middle of the transaction we will need to see parent's bank statement and copy of the wire coming from their account into yours.
Should the money be in your account for 90 days, we will not need to track the funds as they will be considered 'seasoned' or yours.
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Thu Mar 24, 2016
Claudia Muller answered:
You and your parents may purchase this home as an owner occupied loan. You are their child and they are assisting you while you are completing your education.
If you do not have an income, your parents can qualify on their own income and credit package. In order for this to be owner occupied, you will need to be the owner occupant and supply all your information, as well.
In the 'old' days, we would call this transaction a "Kiddy Condo" where the parents would purchase a home in which their child would reside while the child was attending school.
Not a difficult transaction.
If you would like to discuss, you may email me through Trulia or call me on my direct line: 510-303-1174,
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0 votes 2 answers Share Flag
Fri Mar 11, 2016
Wooliensik answered:
If my parents were to transfer personal fund from overseas how will this be done. What kind of approval i need to seek for fund coming in from overseas to enable my parents money to use for buying the selected house. ... more
0 votes 9 answers Share Flag
Thu Aug 13, 2015
Deborah Coe asked:
Fri Mar 20, 2015
Claudia Muller answered:
Hi CT:
Most borrowers can get into a home for as little as 3.5% down payment.
This would be on an FHA loan.
The SF Bay Area is considered 'high' cost so we are able to give you a loan up to 625k which translates into $647k on a purchase price.
Rates are good!
You may also put 10% down and go up to 750k with a 10% second loan.
Give me a call or email me...I am located in Fremont by the BART station!!
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1 vote 4 answers Share Flag
Mon Mar 2, 2015
Sheryl Arndt answered:
Hello Andy, you may qualify to buy with minimum out of pocket expenses depending on your fico scores, loan program choice and home purchase price. 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.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score.

If you have credit issues, your credit scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. 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 thumbs up or Best Answer!
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0 votes 8 answers Share Flag
Fri Feb 6, 2015
Cindy Davis answered:
A local Realtor should be able to find out information for you. I personally would want to understand why you are searching for that information before releasing it.

Best of luck.
0 votes 1 answer Share Flag
Mon Jan 26, 2015
Claudia Muller answered:
Roberta: There are many great 1st time home buyer assistance programs available.
In order to be considered a first time home buyer, you must not have owned a property for the past 3 tax years.
There will be income limits. Here are the limits for Alameda and Contra Costa counties:

$78,550 single person household
$89,750 2 per household
$101,000 3 per household
$112,200 4 per household

As you can see, the income limits increase with the size of the household.

You can receive up to 3.5% of your purchase price in down payment and closing cost assistnace.
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1 vote 2 answers Share Flag
Wed Jul 30, 2014
Michelle Morris answered:
Contact your attorney and a Lender, Ohio is a Dower state, so I would think for your best interest the divorce should be done before closing.
0 votes 10 answers Share Flag
Sat Jun 21, 2014
Randall Ortiz answered:
You would most likely have to get a loan under just your fiancé, since he has a job. We work with many lenders that will do a loan with a 630 FICO. Of course the debt to income ratios and amount of money he makes will need to be enough for the loan. ... more
0 votes 1 answer Share Flag
Fri Apr 25, 2014
Terri Vellios answered:
http://www.trulia.com/blog/discovertrulia/2010/06/trulia_psa…

The above link is from Trulia to caution the public about scammers. If something is too good to be true it usually is someone looking for a way to extract money or identity from you.

Rental advertisements are one of the largest scams on real estate websites. Until web owners make changes to only allow licensed property managers to post ads this will continue. Until then the general public, scammers and others will continue to post rental ads. Please proceed with extreem caution.

I wish you all the best.
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0 votes 5 answers Share Flag
Mon Apr 21, 2014
Karen Miller CRS answered:
Hi Stephanie,
I have a 3 bedroom 2 1/2 bath D model for sale for $425K. Please let me know if you need any more information about it. It will be open on Sunday 4/27 from 2-4pm
0 votes 4 answers Share Flag
Fri Mar 14, 2014
John Arendsen answered:
Have to take issue with the 25 year interval year scenario. As I remember we had a recession from 69-72 after the aero space pull back and we landed on the Moon. Then there was the 79-84 Jimmy Carter 18-21% interest rate days that collapsed the RE Market Nationwide. After that the S&L debacle from 89-94 and then the dive in '07-'11. All that took place within a 40 year window.

Me say the market is driven by many variables known and unknown. Again no one has a crystal ball. RE sales agents tend to paint a more positive picture through rose colored glasses because they make their livelyhood off of selling RE.

But the real World is real events taking place when you expect or don't expect them. Right now we're dealing with myriad variables i.e. weak economy in many regions, continuing moderate to high unemployment numbers in many areas, Obamascare, a 17 trillion deficit that will have to be addressed hopefully sooner rather than later, continuing outsourcing of jobs, ever increasing ways to bilk wage earners out of their money, ietc. etc. etc.

Overall there's a lot of minutia out there to consider. All that stated, if you have the means, employment, downpayment and long term security then now is as good a time as any to pull the trigger. If you're squeamish continue sitting on the sidelines and watching. If you wait and watch long enough you're bound to see some more bumps and hick-ups in the foreseeable future.
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0 votes 14 answers Share Flag
Thu Mar 13, 2014
The Medford Team answered:
Get an agent who will search current listings for you and provide (1) up-to-date lists of available homes, (2) tours of homes you want to see.

As for pictures, what is there is what you get - if you are interested, get your agent to show you the home in person. It's WAY better than looking at pictures. ... more
0 votes 8 answers Share Flag
Wed Mar 12, 2014
The Medford Team answered:
Talk to a lender in the area you are moving to – you will probably need to show a rental agreement for your current home if you wish to hang onto it.
0 votes 4 answers Share Flag
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