Are banks in CA writing 95% OR 93% loans on homes in contra costa? (strong credit, $250M income)

Asked by Dg8trs, 94526 Thu Jul 22, 2010

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Kamal Randha…, Agent, El Sobrante, CA
Sat Jul 24, 2010
Hello Dg8trs,

These loans are very possible. You can go to any mortgage broker or bank and get pre-approved. Good luck :)

Kamal Randhawa
0 votes
Dave Sutton, Agent, Portland, OR
Thu Jul 22, 2010
Not only banks. I just had a client sign loan papers today for a 96.5% loan from MetLife
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Gilbert Rich…, , Santa Clara County, CA
Thu Jul 22, 2010
Yes it just depends on the loan amount and occupancy type.
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jjacobsDO, Landlord,
Thu Jul 22, 2010
YES !!!
If you are within the occupational groups such as MD's, Dentist’s, CPA’s, even Attorney’s, BBVA can certainly obtain a 100% loan, NO MI, No prepay penalty, low rate.
The agents in my various Real Estate Offices have had recent success with a Sr Mortgage Officer / Tom R. Callahan /

My sources report that the bank is still offering this special Professional type loan program and has NO intention of suspending it.
It is apparently great for building bank business accounts.

See below example from a top producing agent of mine.
“Client just closed last week at 4.250%, 5/1 arm, no penalties, 1pt , NO MI , NO cash down. Seller even paid all his cost including taxes, etc.
And 30yr fixed is around 5.375%, but my client was a Resident and will be buying a new home in 5-6 yrs.
In fact, another agent shared this morning that her client is getting a great deal on a 30 yr fixed, loan of $970k at 5.375%~, which is huge for what they call “Jumbo” money.

It is a wonderful program and I as a Real Estate Broker have received several referrals from prior clients because of this program alone, as they see us as the advocate with expert advice on it. So they in turn refer their Doctor colleagues and Professional’s to my agents and Tom Callahan does an excellent job with customer service. It's Great !!!

Good luck to you, TJ
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Carl Henker, , 95928
Thu Jul 22, 2010
As long as your loan amount fits the loan amounts outlined by Gregorio you have some options. Give him a call.
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Fred Glick, Agent, Mountain View, CA
Thu Jul 22, 2010
95% is usually not a problem, only on condos.

Web Reference:
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Isabelle M.J.…, , Danville, CA
Thu Jul 22, 2010
Yes, up to $729,750 under FHA rules of 96.5% loan amount. Downside you will have to pay mortgage Insurance.

Isabelle Javier
0 votes
, ,
Thu Jul 22, 2010
With a 680 fico or greater we have a conventional product with an MI option. I would be happy to discuss if you're interested.


Web Reference:
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Gregorio Den…, , San Diego, CA
Thu Jul 22, 2010
Up to 96.5% LTV, up to $729,750 for FHA loans.
Up to 90% LTV for conventional loans to $729,750 and 95% to $417,000.

Gregorio Denny
Tripoint Mortgage Group, Inc.
Web Reference:  http://WeFixRates.Info
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