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Home Buying in 92614 : Real Estate Advice

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Activity 8
Thu Jan 31, 2013
You might want to consider doing a refinance if your boyfriends' parents are willing to stay on the loan. After a year's time you will have enough seasoning on the loan and will be at your job for 2 years. Lenders typically require 2 year job history for part time employment, self employed income, etc. After that time, you could do another refinace and then take the parents off the loan completely at that time.

It's something to consider.
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Thu Jan 31, 2013
Per Fannie Mae guidelines, a Section 8 voucher is an acceptable source of qualifying income. There must be a history of receiving the voucher before applying for a mortgage and must continue for a minimum of at least 3 years.

Irvine is a pricey area, as Kawain previously mentioned. Your best course of action is to get a complete preapproval so you know what you can actually qualify to purchase. For the preapproval, you need to provide all your income and asset information to the lender. They will pull your credit and run the loan application through one of the software programs to issue a formal approval. At that point, you are good to go!

Good Luck and if you have any other questions, feel free to contact me.
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0 votes 5 answers Share Flag
Thu Dec 13, 2012
Agnes Lago answered:
usually bring your own lender but the listing may want to double-prequalify you.
send me an email or call me -- 714=308=8117.. &

The following is a sample of the parameters you will usually get into (actually from a current listing in Orange County in a good area-- bulit 2007):

Guideline for # of people in the household/maximum annual income: 1/$41790; 2/$47775; 3/$53725; 4/$59710; 5/$64470; 6/$69265) Owner
occupied. Cannot be a foreigner or own other homes. Sale price: not negotiable. Priority to cash buyers (3% of the cash must be the buyers' own
funds). Submit closing costs and agent commissions for negotiation. Will not return phone calls due to large inquiries. Email contracts with buyers'
financial information (2 mos pay stubs, 2 years tax returns & W2's, 3 mos bank statements and retirement accounts & gift letter with donor's bank
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Thu Nov 8, 2012
Alane Anderson answered:
Your listing agent can provide you with a "seller net sheet". It includes the various costs of selling your property and is the closest estimate of what all the fees including closing, HOA transfer fees, Realtor fees, title, insurance, and any other costs specific to your transaction.

Alane Anderson
Realtor l MBA, 714-222-2800
Voted #1, Best of Orange County
First Team Real Estate
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0 votes 11 answers Share Flag
Mon Oct 29, 2012
Ingrid Ski Realtor answered:
Hello There Jon,

The tax rate for Irvine is 1% for the base tax. Then there is misc fees such as the water district, vector control, red ants, these are pretty minimal say under 100-200 for the year and if there is any other fees per neighborhood/area.. and if there is any mello roos..
How can I help you with your interest in Irvine?

Ingrid Ski Realtor
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0 votes 3 answers Share Flag
Sun Oct 7, 2012
My NC Homes Team answered:
It is when a transaction between a buyer and seller becomes official. The Seller receives their money, the buyers the keys to the house and all the documentstion (mortgage, deed etc) is filed at the court house in the county where the property is located. ... more
0 votes 7 answers Share Flag
Mon Sep 24, 2012
Arun answered:
Thank you all for your answers. I checked with my agent, and looks like the listing agent made a mistake in the status update. Looks like there is nothing to worry.
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Tue Sep 4, 2012
Kawain Payne answered:
Sounds like you are asking for a "KICK BACK". tThis is NOT LEGAL

Now if your agent wants to give you a "CREDIT" form theri commission they can, but that is not something you should ask for, it is something they offer.

You can very well go ahead and write an offer for your self, but where will you get the forms?

CAR form are not avail to the publice. You can buy a purchase agreement froma stationary store to submitt your onw offer on but , the Listing agent and the seller may not even entertain such an offer.

Remember there is a lot more to representing you than just "writting up an offer"

The terms and conditions of the offer as well as making sure ALL parties do theier due diligence is something your agent will do for you.

Best Of Luck to YOU,

Kawain Payne, Realtor
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