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Delano : Real Estate Advice

  • All31
  • Local Info1
  • Home Buying9
  • Home Selling0
  • Market Conditions1

Activity 22
Thu Nov 19, 2015
Cindy Davis answered:
Only a Realtor may post on Trulia. You would need your listing agent to do it for you.
1 vote 2 answers Share Flag
Wed Aug 5, 2015
answered:
Hello destinylopez0214, you may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program from a minimum 640 fico score up to 417k. 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 417k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to achieve you can be emailed listings to study and compare. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to be pre-approved if you decide to buy and to be able to meet an agent to view and submit offers on any homes of your choice. 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.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
... more
0 votes 4 answers Share Flag
Wed Aug 5, 2015
answered:
Hello Jesus, you would need a minimum 580 fico score to qualify for zero down USDA Rural for rural home purchases outside of Delano city limits. You may qualify for a grant program which if structured properly could end out zero down with a minimum 640 fico score. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to achieve you can be emailed listings to study and compare.

You will need to be pre-approved if you decide to buy and to be able to meet an agent to view and submit offers on any homes of your choice. 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.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program from a minimum 640 fico score up to 417k. 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 417k.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
... more
0 votes 4 answers Share Flag
Wed Feb 25, 2015
wayne henderson answered:
I have poor credit but I do make over 5000.00 a month. Looking for a small town in north Florida. Please contact me by email at fireman32@verizon.net. I have a small window to work with. Thank you ... more
0 votes 2 answers Share Flag
Tue Sep 16, 2014
answered:
I would never recommend a lease to own to anyone. It is better to spend your time fixing why you can't buy now and then purchase the property outright. I would be more than happy to help you with that.

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
... more
0 votes 1 answer Share Flag
Tue Jun 17, 2014
Jeremy Locke answered:
Contact a local Realtor or 2 and ask them about the process. You want to make sure they have helped clients with foreclosures before, they can be tricky.
0 votes 2 answers Share Flag
Mon May 5, 2014
Cindy Davis answered:
Pedro,

I can't confirm it for you...but it says $200,000.
0 votes 1 answer Share Flag
Sat Nov 16, 2013
Racquel Aquino Vega asked:
Sat Nov 16, 2013
Racquel Aquino Vega asked:
Fri Aug 30, 2013
Tanya Ess-Young answered:
I recommend contacting a Pro - Nerie Mati
(661) 430-5309 I'm sure she would be more than willing to assist you and getting you in touch with the right properties. Good luck, and happy hunting. ... more
0 votes 1 answer Share Flag
Sun Jul 14, 2013
Robert Spinosa answered:
Juarezmaria1126,

Here are the specific FHA guidelines pertaining to employment history:

To be eligible for a mortgage, FHA does not require a minimum length of time that a borrower must have held a position of employment. However, the lender must verify the borrower's employment for the most recent two full years, and the borrower must:
1) explain any gaps in employment that span one or more months, and
2) indicate if he/she was in school or the military during the most recent two full years, providing evidence supporting this claim, such as
*college transcripts, or
*discharge papers.
Allowances can be made for seasonal employment, typical for the building trades and agriculture, if documented by the lender.

I believe that, in your case, if we can piece together the 2-year history you would be eligible for an FHA loan.

Let me know if you have questions or if I can help further.

Rob Spinosa
rspinosa@rpm-mtg.com
... more
0 votes 2 answers Share Flag
Wed Jul 10, 2013
Ken Frank answered:
I have lenders that start at a 600 credit score, and I have companies that repair credit .
0 votes 1 answer Share Flag
Wed Jul 10, 2013
Ken Frank answered:
Yes, you can do a USDA loan. You are restricted to a certain area , but it is Plainfield/Joliet area
good schools and neighborhoods.
Any other questions just let me know.
0 votes 3 answers Share Flag
Mon Dec 17, 2012
Joseph Roraff answered:
Here is a great article on what you are looking for...
0 votes 3 answers Share Flag
Mon Dec 17, 2012
Cindy Davis answered:
Yes, and no. If it is listed on the MLS, then your purchase process would be very similar to buying a traditional home. The main difference is that the bank will write an addendum, and with foreclosures, the bank's terms prevail. When you buy a traditional sale, there is generally a bit more give and take. ... more
0 votes 2 answers Share Flag
Sun Dec 16, 2012
destinylopez0214 asked:
Mon Oct 22, 2012
Bob Willett answered:
Actually you are asking about three different types of loans. If you are buying the home to live in it now, and will do so for at least the next 12 months, you can get a typical residential real estate loan. It could be FHA, VA, conventional, etc. so long as you and the property are within the qualifications guidelines.

If you intend to rent the home out, then it becomes an investment loan, and will have a higher interest rate, and be subject to more restrictive underwriting guidelines. This is still considered a residential real estate loan at this point. Down payments are typically 25% but can be less with higher fees or a higher rate.

If you intend on turning it into a nursing home than you are no longer in the realm of residential real estate lending. You will need to obtain a business loan from a bank. The loan will be evaluated as a business venture and could be an SBA loan or other type of financing.
... more
0 votes 2 answers Share Flag
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