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94564 : Real Estate Advice

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  • Home Buying6
  • Home Selling0
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Activity 6
Sun Mar 3, 2013
Steven Ornellas answered:
Update:

As mentioned below, currently MI expires in five years and when loan to value drops to 78%

Effective June 3, 2013 MI Will No Longer Expire!

http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2013/HUDNo.13-010 ... more
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Sun Mar 3, 2013
Russ Ravary answered:
They do not always end up bad. There is no guarantee whether they will go through or not. If the seller has a true hardship and there is one loan you have a good chance of the short sale going through. ... more
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Fri Nov 16, 2012
Vicky Spiva answered:
My company will finance an FHA borrower who has a middle credit score of 600. The rest of the file would have to look pretty good though. This means that there is job stability, cash reserve after close, minimal credit user and no payment shock with the new payment.

I can do loans in California so feel free to contact me if you would like me to help. My toll free number is 877-933-3330 and my office number is 530-223-6244.
... more
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Mon Oct 22, 2012
John Dutra answered:
John,
If you are using your wife's income alone - no worries at all. It is possible that with FHA, if you can show you are in a payment arrangement with the collectors, they may allow tthe loan, but most lenders now have a 640 minimum requirement for buyers using thier income to qualify.
It may be a situation where your medical coverage has not completely paid their portion of the medical bills and this may be something that can be taken care of in short order. If that is the case, I recommend sitting down wth a lender that can review your credi in total to give you the best recommendations on how to clear that up.
Again, if you do not need to use your income to qualify, you are good to go.
... more
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Thu Nov 18, 2010
Jeff Kim answered:
The previous answer is correct regarding market condition of the home for future sale. However, if the home is newer most have dual pane windows installed which can minimize the sound of the train. If the home is older, you may want to look into some good dual pane windows.

I live quite near Scanlan and near the railroad tracks. We have dual pane windows (our home was built in 2007) and we RARELY even notice the trains going by.

If you would like, I can discuss with you further the area, specific homes, and any question you may have regarding real estate. Feel free to call, e-mail, text, or visit my website!

Good luck on your home search!
... more
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