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Financing in California : Real Estate Advice

  • All2K
  • Local Info95
  • Home Buying1K
  • Home Selling180
  • Market Conditions51

Activity 3,275
A few hours ago
Cooleyt answered:
If your home is located in Texas or Oklahoma I can refinance home only loans......
Call Tim Cooley 405.293.6300
0 votes 17 answers Share Flag
Yesterday at 7:06pm
Plymouth answered:
My experience
If you count save at least % 1. Or more then worth to refinance
Because the trouble of paper ,cost,fee,penalty etc. Not worth it
Just made a extra payment on the principle only ,even $50 or $100 a month will save you more then what trouble you go though .
OK good luck
... more
0 votes 12 answers Share Flag
Yesterday at 5:00pm
Donald D. Hensel answered:
203k loans come with strings attached and your situation may not fit their criteria. A hard money lender may be an option.

It may even be a little difficult to find a hard money lender willing to provide a loan on a property in the middle of construction.
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1 vote 5 answers Share Flag
Yesterday at 4:57pm
Donald D. Hensel answered:
This is a common type of loan for a hard money lender to fund.

You will pay a higher interest rate but the application process is faster and easier and your refinance loan will close within a couple weeks. A bank would take much longer, if they are even able to provide you with the loan you need. ... more
1 vote 6 answers Share Flag
Yesterday at 4:45pm
Donald D. Hensel answered:
Many banks do not want to lend to foreign nationals but many hard money lenders will.

Hard money lenders are also able to look past other issues such as lack of or poor credit as long as the borrower is able to provide a sizable down payment (30%+).
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1 vote 9 answers Share Flag
Yesterday at 4:40pm
Donald D. Hensel answered:
Stated income loans are no longer available for owner occupied property. They are only available for investment property now.

All lenders must verify the borrower's income and ensure they are able qualify with a reasonable debt to income ratio.

Not even hard money lenders are able to get around the current regulations.
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1 vote 31 answers Share Flag
Yesterday at 4:20pm
Sheryl Arndt answered:
Hello Bernie67, there is more information missing to answer as we have 100% LTV programs. Are you speaking of a refinance or purchase? Our 3% down only goes up to 424k conforming loan limits.

The purchase in 94133 start from 599k for 1bd 1ba condo. On purchase you may consider 5% down Jumbo with a minimum 720 fico score from 424k up to 1.5 million and 10% down from a minimum 680 fico score and up to 2.5 million. You will need 20% down to purchase over 2.5 million.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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0 votes 3 answers Share Flag
Yesterday at 6:45am
Scott.stevenson answered:
To get the lowest rate on your mortgage, you will normally want to try to get your credit score at or above 780. Below that, you normally will pay about a .25 of a point for ever drop of 20 points...

Mortgage Loan Officer
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0 votes 86 answers Share Flag
Tue Apr 25, 2017
Cincitybda asked:
I'm a 30 yrs old dual citizen but never lived in U.S. so have no credit there. Moving to U.S. within yr or so but want to buy a house now.
0 votes 0 Answers Share Flag
Mon Apr 24, 2017
Cccardarelli asked:
Wed Apr 19, 2017
Lindacsturgill answered:
I want to build a Western Home on a property I own in Fresno.
Who would be able to do a construction loan?
0 votes 24 answers Share Flag
Mon Apr 17, 2017
Shane Milne answered:
Tom, with a 720 score we can do 5% down up to a $1,200,000 sales price in Alameda County, but 6 months PITI in reserves and no more than a 35% DTI are required.

Shane Milne | Lending in all 50 states | NMLS #81195 | 949-322-3616 direct
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0 votes 2 answers Share Flag
Sat Apr 15, 2017
Jason answered:
FHA will allow for up to a 56.999% Total debt ratio with a credit score of 640 or higher. I closed a loan last week with 56.858%
0 votes 14 answers Share Flag
Thu Apr 13, 2017
Sammy Porcho answered:
Do I have to pay a PMI on a streamline VA refinance home ? I thought VA home loans were 100% backed by the VA. I purchased a home using VA loan for $180,500 in 2011 at 4.865 % interests with no money down and refinanced in 2012 for a VA streamline at 3.25% interests with Well Fargo and they are charging me a PMI. ... more
0 votes 6 answers Share Flag
Wed Apr 12, 2017
Kris answered:
If you go to Zillow and look for property listed by owner. They will provide you contact info. That is the best resource available to supply contacts.
Kris Kellar Coldwell Banker

18801 E Mainstreet
Parker, CO 80134
... more
0 votes 31 answers Share Flag
Tue Apr 11, 2017
JCMck answered:
0 votes 14 answers Share Flag
Wed Apr 5, 2017
Jennifer Bauer answered:
Saving money will be difficult for a family member . Because as a person he should spend for his family and also save some for buy a house. It will take long time for a freelancer to save huge amount to buy house. As you can also help him to save something as your share. ... more
0 votes 3 answers Share Flag
Mon Apr 3, 2017
Lynn M. Gomez answered:
We purchased our modular home on a certified 433 foundation in 2003. We are selling now and the lender for the new buyer is asking for a recertification of the 433 foundation. Is that new in CA? Is it required? Laws change over time so if the 433 certification does not meet the needs of the county now, will we be required to pay to get it up to date again? Is that even legal? Please advise. We are waiting to open escrow with the response. Thank you, Lynn ... more
0 votes 7 answers Share Flag
Sun Apr 2, 2017
Greer_la answered:
We have a care which is only in my husbands name. He suddenly become incapacitated by a desease. I want to sell our car, can I sign for him?
0 votes 12 answers Share Flag
Fri Mar 31, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

There are no age limits.

If you have any other questions or would like help with this you are welcome to get in touch with me.
0 votes 2 answers Share Flag
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