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Bell : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying4
  • Home Selling0
  • Market Conditions0

Activity 17
Earlier today
Jimmy Jung answered:
I agree with some of the other posters. We also send some clients to Home Loans For All. One of our clients was able to buy with zero down payment thanks to some sort of program Home Loans For All was able to get her into. We also recommend them to all our clients that do not yet have a lender. ... more
0 votes 184 answers Share Flag
Thu Mar 2, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

It depends on how much you can afford to spend on a monthly basis.

There are programs that do allow no money down.

I would need more details to determine what you could qualify for.

If you have any other questions or would like help with this you are welcome to get in touch with me.
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Thu Mar 2, 2017
Sheryl Arndt answered:
Hello Cashbuyer1, are you talking Florida or 90201, Bellflower, CA? You can buy with minimal out of pocket expenses with down payment and closing cost assistance programs we have here in CA.

Here is CA there is still room to gain equity in many cities throughout CA and I am not sure of Florida. The purchase in 90201 zip code of Bellgardens, CA start from 280k for 3bd 1ba condo and the single family homes start from 325k for 2bd 1ba home.

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.

If you are buying a primary residence you could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. 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 424k.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Thu Feb 2, 2017
Wanyeronaldloancompany asked:
Fri Dec 16, 2016
Gissel answered:
Depends on which state and city you would like to buy, and lenders take into consideration whether you have a valid SSN for residency or any temporary. In California the norm for a down payment under FHA loans is 3.5%, conventional loans range from 4%+, although the norms will change next year 2017. If you have a temporary visa you may be able to qualify for a loan but a 30% down payment will be requested, along with higher than normal fees for the transaction, such as closing costs. If you plan to buy cash you won't need anything except for the full cash amount of purchase price on any property you would desire to buy.
If interested in Southern California area, feel free to contact me with any questions you may have through my profile.
Sonnocco Real Estate Group
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Thu Mar 17, 2016
Paul answered:
Use to analyze all real costs of homeownership, including mortgage financing. Educational, in-depth and easy to understand. Find out financial implications of borrowing against equity in your home to finance purchase of new home, while collecting rent on current house. Great idea if #'s work> use InBedrock to find out! ... more
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Wed Aug 5, 2015
Henry Vega answered:
It is not the safest neighborhood.
0 votes 1 answer Share Flag
Thu Mar 26, 2015
Alex Montelongo Real Estate Group answered:
Do you have a copy of your lease agreement? What does it say in regards to termination of lease, renewal, etc.? Usually, a landlord would have to give 30 or 60 day notice tor the tenant to vacate depending on how long the tenant has been in possession of the property.
It's hard for anyone to advise you without seeing the lease agreement.

Best of luck,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
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0 votes 3 answers Share Flag
Sun Aug 25, 2013
Steven Ornellas answered:
Hi mcortez2121,

First, you should be asking your Realtor® this question since nobody on this forum knows the details of your transaction - and yes, knowing ALL of the facts can make a difference!

However, assuming you used the most recent version of the CA Association of Realtors® purchase contract I would draw you attention to Para 14F of the CAR RPA states, "If Buyer or Seller gives written notice of cancellation ….A Buyer or Seller may be subject to a civil penalty of up to $1,000 for refusal to sign such instructions if no good faith dispute exists as to who is entitled to the deposited funds (Civil Code §1057.3)."

Civil Code §1057.3 says the Seller must release the deposit within 30 days.

Again, speak with your Realtor®!

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1 vote 1 answer Share Flag
Tue Feb 7, 2012
Emily Knell answered:
As you know, there is not State Income tax in Nevada. Yay!

If this was your principal residence for 2 of the last 5yrs, you're protected under the Mortgage Debt Forgiveness Act of 2007, talk to your CPA, you will still need to file IRS form 987 with your tax returns for the year your home was foreclosed on.

If this was an investment property, you're not protected under this act & the IRS will charge you at YOUR tax rate X the amount of NEGATIVE debt you had. Again, talk to your CPA about how you're going to arrive at what this figure is. Even if the property was an investment property (non owner occupied) you may still be able to file that form 987 & make your claim or case to the IRS that you can't pay due to extreme financial hardship.

Shoot me an email directly if you want to talk about this some more, I don't look back on this same Trulia thread for answers posted after mine.
562-430-3053 c
Realtor Since 1996
Main Street Realtors
Also with Elite Realty Inc. in Las Vegas
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1 vote 5 answers Share Flag
Mon Jun 6, 2011
Karen Parsons Fiddler answered:
Hi Mirna,

Your contract specifies when you get occupancy. Escrow will let you know when they have confirmation of the title change (as Emily says) and then you own the home. If you have an agent, ask him/her about this....they normally meet you and give you keys once the home has had it's title transferred.

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0 votes 3 answers Share Flag
Wed Apr 13, 2011
Neil Najibi answered:
Great question:
1- get yourself approved for a loan.
2-get yourself approved for a loan.
3-get yourself approved for a loan.
4- Find a hard working agent.
5- get it done.
0 votes 7 answers Share Flag
Sat Feb 27, 2010
John Barry answered:
Hi Maira,

There are many currently available properties in Bell Gardens right now, ranging in price from the high $100,000's to the mid $300,000's. Have you spoken to a lender and been pre-qualified for a loan yet? Once you are able to do this it will give you a better idea of your purchasing power & what you would be comfortable with as far as monthly mortgage payments. Feel free to contact me if I can assist you in any way.

Thanks, have a good day.

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Web Reference:
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Mon Oct 19, 2009
Maira answered:
Possibly they come out all the time i check on,, and on i find ! new each 2 to 3 days or even 1 day
0 votes 1 answer Share Flag
Mon Jan 19, 2009
Steven Ornellas answered:
Jill, let a professional investigate your ability to buy. contact a mortgage broker and get pre-approved. As far as buying, this is your first step (not a pre-qualification, see:. for the difference between the two) so you can be ready to act when you need to, or be aware of any issues that may prevent you from buying when you want to.

FHA is the best deal in town right now. The 3.5% minimum down payment provides you many options not available with other programs out there. FHA also allows you an extra $8K in loan (that does not affect your debt-to-income ratio), provided it’s used for energy efficient upgrades on the house you buy.

Best, -Steve
... more
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