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92840 : Real Estate Advice

  • All27
  • Local Info1
  • Home Buying17
  • Home Selling2
  • Market Conditions1

Activity 26
Tue Apr 5, 2016
Johnkent1205 asked:
Sun Feb 28, 2016
Sheryl Arndt answered:
Hello Krystal, yes you may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may consider a 3%-5% grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

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

The listings in 92840 zip code start from 309k for 2bd 2ba condo. 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
23+ 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
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0 votes 10 answers Share Flag
Mon Apr 27, 2015
Nicole Fedorchek answered:
Its hard to predict price appreciation that far in the future. What I can say is that Real Estate is one of the best investments you can make!
The rentals on these units should be around $900-1000 for the studio, $1300-1400 for the 1-bedroom, and about $1600-1700 for the 2-bedroom unit.
For selling, the one-bedroom units are selling just under $200k, and the 2-bedroom units are in the mid-300s.
Please let me know if you would like any further information!

Nicole Fedorchek, Tarbell Realtors
Gold Circle of Excellence
714-914-5097
realtornicolef@gmail.com
www.nicolefedorchek.com
DRE 01920370
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0 votes 1 answer Share Flag
Fri Feb 6, 2015
Alex Montelongo Real Estate Group answered:
The consensus amongst most of the Lenders that have replied is Yes. Subject to the terms of your new loan, etc. There are missing variables to the equation but as long as you are pre-approved for another purchase, you should be good to go. Do you have an Agent or Broker that is helping you find your new property? Please have a look at my profile here on Trulia.com and give me a call.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lci #01456982
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0 votes 7 answers Share Flag
Mon Jun 9, 2014
Sergio Caliz answered:
Thank You Cyndy Davis,

Yes, I am new to this part and I am trying to figure it out, it is going to take a couple of tries, but I will
get it,

Thanks,

Best Regards,

Sergio Caliz ... more
0 votes 2 answers Share Flag
Mon Sep 23, 2013
Ingrid Ski Realtor answered:
HI Mike,

I sure understand. I hear that from many pople looking for a rental/ place to lease.. What city are you looking in to rent/lease in? I might be abl to help.. Talk to you soon

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
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0 votes 10 answers Share Flag
Fri Jul 5, 2013
Bob Phillips answered:
Hi Andy, if you do find a single family house for $1600 or less, be VERY careful to not get scammed.

There are ruthless people overseas - mostly Nigeria - scamming unsuspecting "wishful thinkers" with bogus offerings, seemingly WAY below market value, where all you have to do is send them a money order or cashier's check and they will "send you the keys by return mail".

Obviously, the keys never arrive, the the gullible prospective tenant is out a thousand or two of their hard earned dollars.

Be VERY careful out there.
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1 vote 2 answers Share Flag
Fri May 24, 2013
PacWest Properties answered:
to be of any help to your daughter.. it would be based on your current credit score and total debt to income ratio.

Contact Brentwood Pacific Financial for a full credit report and analysis of your purchasing options.

714-771-3800

Scott Fredrickson
Brentwood Pacific Financial
NMLS# 335170
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0 votes 3 answers Share Flag
Thu May 23, 2013
Frank Abbadessa answered:
My lender works with the Platinum Grant Fund which only requires the buyer to put 0.5% down on a 3.5% loan. You never have to pay the money back as long as you stay in the home for 5 years. There are a few other stipulations such as income caps. Here are some more details on the program:

Down Payment and/or Closing Cost Assistance (Currently in the Form of a Grant)
Not Limited to First-Time Homebuyers
Purchase of Primary Residences Only
Available in Conjunction with 30-year
Fixed-rate FHA, VA and USDA Mortgage Loans
New or Existing Homes are Eligible
Income Limits up to 115% HUD AMI
Available throughout California
Orange county income limits up to $96,000
Los Angeles county income limits up to $80,000

Send me an email for more information or for a lender that services this loan program. All my clients that have used this program have been very satisfied. The money may be running out soon so take advantage while you can!
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0 votes 7 answers Share Flag
Tue May 7, 2013
Richard Brody answered:
Much depends on the terms of the original lease, which generally spells this out. If that is not the case, both landlord and tenant need to agree to terms prior to the expiration of a lease, or it reverts to a month to month rental (which may or may not have different terms, dependent on the original lease's language). It also often depends on how motivated both parties are to come to an agreement. If unsure, you should discuss this with a legal professional.
Richard Brody Licensed Salesperson richardbrody@danielgale.com
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0 votes 11 answers Share Flag
Tue Mar 12, 2013
Brian Huynh answered:
Mr Joshua,
You should find a co-sign (family member, relative, friends,..) whom is working more than 2 yrs and is willing to help you to do as the co-signer and you must find out what in your credit report to repair as soon as possible. Let me know if you want to help. ... more
0 votes 3 answers Share Flag
Fri Feb 22, 2013
Kawain Payne answered:
Hello William,

Sounds like you have some very nice and trusting inlaws!

To answer your question, they do not have to live in the home.

They would need to meet the credit and income requirements of your lender.

Are you sure you need a co-signer?

Best of Luck To You!!!

Kawain Payne, Realtor
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0 votes 7 answers Share Flag
Sun Feb 10, 2013
Your Solar Realtor answered:
Miah, Check out Naval Federal Credit Union. They offer a 100% NO PMI financing.
Hope this is helpful.
Thank you
0 votes 3 answers Share Flag
Fri Sep 21, 2012
David Pham answered:
Courtney,

Depending on where you looked and how a website syndicated/labeled its data, that $112K could mean differently.

In Garden Grove, it is almost impossible to find a house for $112,000. In your message it said "Loan Amount: $112,000". It more likely referred to the amount of of the lien in pre-foreclosure cases. Please be noticed that there could be more than one liens on a property. Current owners may explore different options such as loan mod, refinance, or short sale. If none of those efforts works out, the property may go to foreclosure.

In short, those pre-foreclosure prices barely reflect what the property will be actually listed or sold at. If you are a home buyer, you may want to focus on regular sales, short-sales, or REOs.

Good luck on your house hunting,

David Pham
National Brokers
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0 votes 7 answers Share Flag
Fri Sep 21, 2012
Kawain Payne answered:
Hello Courtney,

If you are buying a single family home, renting out rooms will not help you qualify for a larger loan amount. Most lenders will not consider any rental income from renting out rooms in your single family home as income.

If you however purchase a duplex for example and plan to live in one and rent the other out, that rental income could be taken into consideration.

Best of Luck to You.

Kawain Payne, Realtor
... more
0 votes 10 answers Share Flag
Fri Sep 21, 2012
Felix Hung answered:
Deborah,

Thanks for the correction.

Felix
0 votes 17 answers Share Flag
Thu May 17, 2012
Kawain Payne answered:
I can tell you homes in Garden Grove/ Westminster are moving VERY fast ,some in a matter of days!

As for prices, no one can be certain what the future holds. I can only tell you that "right now" homes are moving fast,. We are seeing multiple offers and prices are moving up (slightly)


Best of LUck to You!


Kawain Payne, Realtor
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0 votes 15 answers Share Flag
Tue Mar 27, 2012
Rene' De Blanco, MBA answered:
Frankly, you will need to pull a tri-merge to know where you stand. More importantly, the higher the scores, the more loan programs that are avaialble to you. Hence, if you don't know have any insight on where you are, it would be difficult for anyone to advise you on how to improve your score.

Hope this helps!

Kinecta Federal Credit Union
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0 votes 15 answers Share Flag
Sat Mar 24, 2012
Don Tepper answered:
Despite some of the comments regarding their safety, the newer ones are just as safe as stick-built homes.

They're cheap (as some of the previous answers noted) because:

(1) In parks, you pay a lot rent which typically can run from $200 to $800 more a month.
(2) Mobile homes themselves don't appreciate in value. Rather, they depreciate, somewhat like automobiles do.
(3) Parks have stigmas against them. Some people just won't live in a mobile home in a park, regardless of how nice it might be.
(4) There's almost no land. Yes, you're renting the land, but the amount of land is very small (in most cases).

Still, they can be the right answer for a lot of folks. I bought a manufactured home a few years ago and am selling it with owner financing. It's a nice 2-bedroom unit in a great location (very good park) that I sold for $13,000. The buyer is happy; he's buying it from me for $210 a month for 5 years. Next year, he'll own it.

Hope that helps.
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1 vote 6 answers Share Flag
Fri Mar 23, 2012
Willy Olsen answered:
First thing would be to go talk with a real estate lawyer. Sometimes a nice letter from a lawyer gets things straightened out.
A listing agreement is a form of employment contract with the Realtor. Sellers can terminate this agreement in writing.
Since your parents knew of an offer and even counter offered, there then comes into question as to when or if there was an "offer and acceptance". That's where the lawyer comes in again.
As for the Realtor, your parents can file a grievance with the agents Association of Realtors. They may or may not do anything.
... more
0 votes 14 answers Share Flag
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