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Financing in 94582 : Real Estate Advice

  • All189
  • Local Info34
  • Home Buying96
  • Home Selling13
  • Market Conditions3

Activity 8
Tue Aug 1, 2017
Any private money lender/hard money lender should be able to work with a 65% loan to value. Private money rates are currently around 8-10% depending on the lender and situation. Much higher than conventional but the loans are easier to obtain and can fund much faster. ... more
0 votes 9 answers Share Flag
Mon Sep 19, 2016
We offer 3% down LPMI conventional financing for primary residences in all 50 states. We can compare LPMI vs. BPMI to determine what is the better option for you. I'd be happy to help.

Shane Milne | Lending in all 50 states | NMLS #81195 | 949-322-3616 direct
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Wed Aug 14, 2013

As already mention, lender paid mortgage insurance is an option; however, the interest rate will be higher. Single premium buyer paid mortgage insurance is another option, if you have the necessary funds.

Alternatively, there was once again options to do a 80% first and 10% second loan. The underwriting guidelines for the second are fairly restrictive (minimum 700 credit score, for example); however, the terms of the line of credit are very good.

I just did a refinance for a family member utilizing this program and it saved the borrower considerable sums over the FHA loan she had previously. The program is available for purchase and refinance options.

As always, the numbers speak for themselves...a comparison of all of your options is the first step.

All my best,

NMLS #279125
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0 votes 16 answers Share Flag
Thu May 9, 2013
Yes all lenders have them.

The no cost option always has a higher rate and so they are never free.

What you need to do is compare the monthly savings on the loan with closing costs to the loan without closing costs. The payment is always higher on the one with no closing costs so how soon will you save those closing costs if you select the lower interest rate option.

Then lets say you save 300 a month on a loan with $3000 in fees. (Hypothetical) then you break even in 10 months. Also some times you have to pay the fees to get the lower payment in order to qualify.

Right now for most people the math is working out better on the loans with no closing costs. This changes all the time and it depends on your situation. You need a good loan officer who will sit down with you go over the numbers so you can take the best loan of you.

Rich Littlefield
Pactrust Bank
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0 votes 5 answers Share Flag
Thu May 9, 2013
Grace Tam answered:
The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property). are you looking for home loan or can you be more specific. ... more
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Mon Jul 20, 2009
blaison samuel answered:

It is better to consult with your accountant or CPA, so that you can get the accurate information and can file your taxes properly based on your income tax bracket.
0 votes 4 answers Share Flag
Fri Sep 26, 2008
Karthik answered:
What is the difference in LIBOR and CMT? And how much does it costs to refinance the loan?
0 votes 7 answers Share Flag
Mon Aug 13, 2007
Trulia Roger answered:
I don't think it's possible to lower the guidelines :)
0 votes 5 answers Share Flag
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