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Financing in 94086 : Real Estate Advice

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  • Local Info2
  • Home Buying33
  • Home Selling5
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Activity 8
Tue Mar 28, 2017
answered:
Hello Venkatesh, yes, 90% LTV so 10% down up to 2.5m from a minimum 680 fico score. This is a full documented loan program.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA or CalVet loan specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 2 answers Share Flag
Tue Sep 6, 2016
shahmanish2003 asked:
At present, I have 30 year fixed loan on my primary residence (rate is 3.5). Getting good rate on 7 year arm.
What loan program is good if I want to rent out your property after 2-3 years?…
0 votes 0 Answers Share Flag
Tue Apr 21, 2015
answered:
Hello Gdb94086, that is hard to say without knowing all the parts of the equation because the rate may be higher with mobile home financing. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.

The purchase in 94086 zip code of Sunnyvale start at 365k for 2bd 1ba condo which is as low as $1,825 down payment with a minimum 580 fico score @365k. 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.

You may qualify to buy FHA with 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. Your fico 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. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. 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 Thank, Link or Best Answer.
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1 vote 2 answers Share Flag
Fri Aug 1, 2014
Melchor, REALTORĀ®, M.Ed answered:
Hi,

This is not the correct venue for auto loans. Consult the services of a bank.
0 votes 2 answers Share Flag
Wed Oct 9, 2013
Kevin and Julie McLaughlin answered:
Sun Oct 6, 2013
answered:
As many have mentioned, this is called "Delayed Financing". You can do Delayed Financing with:

Fannie Mae
Freddie Mac

FHA and VA don't have "delayed financing" specifically but you can do a cash-out refi.

With FHA, you'll be able to do a cash-out refi up to 85% of the lesser of the purchase price or appraised value but you must make six mortgage payments first.

With VA, you can do it immediately and your max LTV is based off the current appraised value.
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0 votes 15 answers Share Flag
Tue Jan 17, 2012
Gregorio Denny answered:
"SO I guess I did not read the question correctly. My appoligies. Let me restate my answer, Yes you can pay down the mortgage to 20% and the MI would drop off, "

Sorry Richard, but that's still not correct. FHA mortgage insurance comes off at 78%, not 80%.
While you may think I am being overly harsh and petty, I 'm not. I just believe that accurate information is paramount to people looking for advice about their largest asset.
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0 votes 12 answers Share Flag
Thu Jun 25, 2009
Terri Vellios answered:
Rates can change day to day, so if you are shopping be sure to let each lender know and be sure you are comparing comparable rates, terms and the day of quote (think the stock market, it changes daily and so do rates).

If you wrote a contract and submitted that contract with a pre-approval there may be language or implied expectation that you are using Lender A. If you change mid stream and don't let the other side know there may be issues. If Lender B doesn't perform and your loan contingency is based on Lender A are you in breach of contract? Talk with your trusted agent. People can promise the world but if they don't deliver it means nothing.

To answer your original question, I'm not a lender, I believe you will have to pay for the appraisal, possibly application fee and credit report. After all these service providers are not non-profit organizations and I suggest buyers to be respectful of the time these service providers have invested in them.
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