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Home Buying in Carson : Real Estate Advice

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  • Local Info12
  • Home Buying34
  • Home Selling2
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Activity 45
Sun Sep 3, 2017
Relinda Cannova asked:
0 votes 0 Answers Share Flag
Thu Oct 27, 2016
Susie Kay answered:
I wonder why you have wired your money without having an executed contract. I don't deposit any money and will not advice my buyer to do so without having an executed contract in my hand. You will not lose your money because the title company holds it but you don't have the home as there's no contract. I would circle back with your agent and ask for clarification. ... more
0 votes 2 answers Share Flag
Thu Dec 17, 2015
Rich Reed answered:
If you're asking about taking the required classes to apply for a CA real estate license: The cost could be a few hundred dollars. It could take you months to complete. Is not specifically geared for someone who is just buying a home.
If you're asking about a "first time buyer" class given by a Realtor: It would likely be free. It would likely be only a few hours. It would be focused on home buying.
Realtors often give or sponsor such classes to generate new leads. Nothing wrong with that.
Taking a class is not required or necessary, just find a great local Realtor who has the time to be very thorough answering your home buying questions.
... more
0 votes 3 answers Share Flag
Sat Aug 1, 2015
Bonnie Goodpasture answered:
Alexandria,

I am a NACA qualifed Real Estate agent and Carson is one of my areas that I specialize in. I also work a lot with first time home buyers. I would love to help you find your dream home. Give me a call and we can chat 310-650-4990. Bonne Goodpasture
Coldwell Banker bonnie.goodpasture@cbzhomes.com

My webpage to learn more about me is: www.cbzhomes.com/agent/bgoodpasture
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1 vote 2 answers Share Flag
Wed May 6, 2015
Lailamacy answered:
In general, an FHA 203k loan allows you to wrap your renovation costs into your mortgage with one loan and one closing. The amount you borrow is a combination of the price of the home and the estimated price of the repairs, including labor and materials.

Your down payment of 3.5 percent (the minimum required by the FHA loan program) will be based on the full loan amount and, of course, your monthly payments will be higher since you’re including repair costs in the same loan.

You’ll need to qualify according to the standards of your lender, typically with a credit score of 640 or higher and with a maximum debt-to-income ratio of 43 percent, including the new monthly payment. The full loan amount must be at or below the maximum limit for FHA loans in your area, which in many housing markets is $417,500.

How FHA 203k Loans Work

There are two types of 203k loans: a streamlined version and a regular version. The streamlined 203k program is meant for homes that don’t need structural repairs and are capped at a maximum of $35,000 in repairs. No minimum amount of repairs must be made. Traditional 203k loans have a minimum requirement of $5,000 and can be used for structural repairs. Both loan programs require the repairs to start within 30 days of the loan closing and to be completed within six months.

The FHA has specific guidelines about types of projects you can finance with a 203k loan, but generally the only home improvements that you can’t finance are luxury items such as adding a swimming pool.

Reference Link:http://fha203kloan.org/
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3 votes 13 answers Share Flag
Fri Jun 13, 2014
1012mawn asked:
Carson CA area, due to litigation with shell oil he recommend CALVET not approve loan. has anyone else had this situation
0 votes 0 Answers Share Flag
Tue Feb 4, 2014
Brock Lee answered:
As the Secretary of my Homeowner Association in Fort Collins, it’s sometimes a challenge trying to maintain work, family and my HOA duties . However, when I discovered Association Online all of that changed. No need to worry about piles of paperwork, their software is quite easy to use and all our HOA documents are stored and managed online. This allows our Board of Directors to operate in a more effective way. You should check them out at www.associationonline.com or call (970-226-1324). I highly recommend them for all Homeowner Association needs. ... more
0 votes 7 answers Share Flag
Thu Oct 24, 2013
answered:
You would really have to speak to a loan officer and provide them with your complete documentation to get pre-approved for an assistance program loan like above. No one would be able to answer your question just based on the above information.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
... more
0 votes 1 answer Share Flag
Sat May 11, 2013
Truliatracy answered:
A Reverse Mortgage is designed to be the last loan you may ever need. It works opposite a traditional mortgage. Rather than making monthly payments to pay off a loan as is the case with a traditional or forward mortgage, with a reverse mortgage the equity in your home pays you. Since there are no monthly payments, there is no income or credit qualification required. I have a reverse mortgage which name is reverse mortgage lenders direct .I think they will help you to know what is reverse mortgage.

http://www.reversemortgagelendersdirect.com/reverse-mortgage-leads/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-information/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-faq/
http://www.reversemortgagelendersdirect.com/hecm-saver-how-does-it-work/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-disadvantages/
... more
8 votes 5 answers Share Flag
Sat May 4, 2013
Robert Spinosa answered:
Bill,

Any pre-approval for a mortgage involves an analysis of income, assets and credit, and you've spelled some of this out here. The next steps involve aligning this with your expectations on the property. I cover all of this, and the process itself in a free webinar that I host monthly. The next one is on May 7th, and you're more than welcome to join. The link is below.

Rob Spinosa
rspinosa@rpm-mtg.com
... more
0 votes 7 answers Share Flag
Fri May 3, 2013
Lisa Massion answered:
Hi

Give me a call I always have buyers intrested. Our office is so closeby too.
Lisa Massion
Short Sales & REO Certified
HAFA Certified Specialist
DRE#01304462
Camino Realty, Certified for both Minority Owned & Woman-Owned
(310)995-9687
www.camino-realty.com
... more
0 votes 2 answers Share Flag
Thu May 2, 2013
Kawain Payne answered:
You cannot TAKE their names off.

They would have to sign a "quit claim" to remove their names.

Kawain Payne, Realtor
1 vote 9 answers Share Flag
Mon Feb 25, 2013
Roberto Gosim answered:
Hello Hudson,
I assume you get this info from websites like Zillow.
If you have an agent just tell them to send the offer
that you want. I assume you're doing a conventional loan
since the data suggest it won't go standard FHA.
Hope this helps.
Roberto
... more
0 votes 2 answers Share Flag
Mon Feb 25, 2013
Roberto Gosim answered:
Hello Josedenise,
The answers would be the same.
Contact a lender or go straight to the bank.
Just tell them you want to pre-qualify.
contact me if I can help.
Roberto
0 votes 3 answers Share Flag
Mon Sep 17, 2012
Caney Arnold answered:
You mention that you are a first time homebuyer, and I see that you have a couple of responses from mortgage brokers. If you are looking for a Realtor, please contact me and we can discuss in more detail what you're looking for in a house.

Caney Arnold, Realtor
DRE# 01916191
Real Estate EBroker, Inc.
... more
0 votes 4 answers Share Flag
Wed Sep 21, 2011
answered:
Hello Monica,

Excellent response below from "Home Inspector" for a detailed description of the 203k loan program.

Here's an overview:

The FHA 203k Program allows a Buyer to purchase a home and obtain the monies for repairs or home improvements all rolled into a single loan with a SINGLE monthly FIXED RATE payment. The repairs can cost as little as $5,000 or can run as high as necessary to gut-rehab a home. The limit on
the repair monies that can be included in the loan is the Loan-To-Value (LTV) Limit based on statutory FHA Loan Limits in your area. And this LTV percentage is calculated based on the value of the house AFTER improvements. In other words, the appraiser determines a value for the property after taking into account your proposed improvements and the Underwriter at your Lender approves the loan based on that higher amount (assuming the "AS-IS" value equals or exceeds your actual purchase price).

The 203k program even has a provision allowing the Buyer to request that up to 6 months worth of mortgage payments be included in the loan so they don’t have to pay two monthly housing
expenses—rent and mortgage—while the house is under construction.

This is a superb program, but I have two cautions for you. First, this loan is difficult to obtain an approval for in the current lending environment. Be sure you're working with an experienced and local Mortgage Banker to assist you with this financing. Second, if you are a First Time Buyer, understand that you are about to become a General Contractor, too. You'll have a Licensed Contractor working for you to undertake the construction, but you'll need to be watchful that everything is going according to plan. You have to ask yourself before you purchase a home with the 203k program if you are ready for the additional time, work and patience needed to see this through. If your lifestyle, family responsibilities and/or work responsibilities prevent you from dedicating a lot of time to this project, I'd recommend buying a house that doesn't need work with a regular mortgage loan.

Hope that helps!
Trevor
tcurranmortgage
... more
0 votes 5 answers Share Flag
Mon Apr 18, 2011
Christy answered:
Mon Feb 7, 2011
. answered:
Hi Andy

I have lived in South Carson and attended Carson schools from Caroldale Elementary all the way through Carson High. I can tell you there are very few 4 bedroom homes, and even less 6 bedroom homes in Carson, if any.

If you would like I could run a list of available homes in and around the Carson area. There are some neighborhoods outside of Carson such as Torrance that have larger homes and have a better school district with award winning schools.

Let me know if I can be of help
... more
0 votes 6 answers Share Flag
Wed Aug 11, 2010
Deon Williams answered:
Gar,

I appreciate the sensitivity of your situation; however, I must emphasize from an investor position what they are usually looking for. An investor is usually looking for a scenario that will make capital sense for their involvement. At $400,000, in this marketplace, your particular property isn't advantageous for an investor to want to get involved. This is in fact the hardest part of being a Realtor, is being the sound voice of reason that has to bring bad news.

My very first short sale was conducted on my parents home, into which they poured countless man hours, and it was tough sledding. But my family has sense moved on to bigger & better things, only to realize that what they had paled in comparison to what they COULD have. The first step in every journey is always the hardest, but it is necessary to reach your final destination.
... more
0 votes 1 answer Share Flag
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