I am an agent representing a buyer. He has lived at home and had 0 credit but he makes plenty of money. I am looking for a lender.

Asked by Joseph Fleischaker, Irvine, CA Tue Dec 21, 2010

The lender needs to be able to fund FHA flip properties because that is the home he wants.

Thank you

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Vicky Spiva, , Redding, CA
Wed Dec 29, 2010
Well, as long as your buyer has had alternative credit in his name, ie car insurance, cell phone and at least 1 other credit reference even medical bills he made payments on, he should be able to get FHA financing. FHA has lifted their requirement regarding flipping properties. If he doesn't have any credit in his name, he will need his parents to co-mortgage with him.

If I can help, give me a call. I am licensed in the State of California and have worked with buyers in So Cal and the San Francisco Bay area. I have worked in the mortgage industry for 30 years initially as a loan processor/underwriter.

Vicky Spiva
Guild Mortgage
0 votes
Louri Groves…, Agent, Fountain Valley, CA
Wed Dec 22, 2010
Looks like there are a few amazing mortgage brokers and lenders.

I wouldn't add to this list unless he/she is also exceptional. Rory DeMeire of All Counties Funding in Seal Beach, CA has the ability to give buyers the confidence to take the next step in purchasing a property and the ability to deliver on time-- even if problems come up. My husband and I have used her services on several occassions.

Rory DeMeire
All Counties Funding
311 Main Street, Suite 7
Seal Beach, CA 90740
0 votes
..., , Lexington, MA
Wed Dec 22, 2010
If he has sufficient equity he could use a portfolio lender and skip agency requirements. If not, he would need alternative lines of credit (phone bill, etc.) preferably with some documented housing expense (rent) for FHA to create a credit history.

0 votes
TheRECoach, , Orange County, CA
Wed Dec 22, 2010
Joseph, there is only one answer to this question...He is amazing, and by far the BEST Mortgage Blogger in California!

Scott Schang
Branch Manager
Broadview Mortgage
Cell/Text: 714-336-8286
Phone: 866-667-6724
Fax: 888-851-4399

The Best! Period =) I dare you to read his stuff, and feel otherwise!

Best of Luck!
0 votes
John Alesi, Agent, Rancho Santa Margarita, CA
Tue Dec 21, 2010
Try Ron Siegel 800-306-9130. A good guy and super knowledgeable.
Web Reference:  http://www.YourOCHome.com
0 votes
Kathy Gutier…, Agent, Dana Point, CA
Tue Dec 21, 2010
Try Alex Gutierrez at B of A. He is the most creative problem-solver I've ever encountered, and he has saved numerous transactions for my buyers that went against my suggestion and opted to try working with another lender. In the end, Alex usually does the loan because he's just THAT GOOD. He has even saved transactions from other B of A loan officers! He can be reached at 949-633-1438. Good luck!
0 votes
Tue Dec 21, 2010
i know a great broker they do all my flipped homes. His name is Ryan Whitmore his number is 949-274-9796. They have a ton of options. i also have access to private money, if your buyer has a good downpayment we can do a bridge loan to get him in then he can refi once hes in it. If you call Ryan tell him Joe Rodriguez with Capstone Realty referred you.
Web Reference:  http://www.buysellrefi.com
0 votes
Bonnie Hart, Agent, Mission Viejo, CA
Tue Dec 21, 2010
I would call Sharon Butler @ 714-517-2606. She is a broker. You need someone that can do stated income.
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Felix Hung, Agent, Huntington Beach, CA
Tue Dec 21, 2010
If anyone I know can do this, I would say Rick Reza of Huntington Beach Mortgage could. He's my mortgage broker with 30+ years of experience. Give him a call. 7147138618 just let him know I referred him. You'll be impressed.
Web Reference:  http://www.felixhung.com
0 votes
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