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Fountain Valley : Real Estate Advice

  • All47
  • Local Info6
  • Home Buying7
  • Home Selling3
  • Market Conditions2

Activity 30
Wed Apr 19, 2017
Hello Akirick, you could have him do a gift of equity and you would not have any mortgage insurance or down payment otherwise you will need to qualify and have a down payment. You will need to qualify for a mortgage to purchase and the minimum down payment would be 3.5% FHA or 5% down conventional from a minimum 720 fico score.

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
... more
0 votes 4 answers Share Flag
Mon Sep 26, 2016
Nicole Fedorchek answered:
Hi, William!
The answer to this questions lies within you, and what you want to net from a sale of your home. Removing popcorn ceiling runs around $2.00/square foot, and I see that your home is approximately 1638 square feet. Therefore, you will incur an expense of around $3200 for this. Will you see this return at closing? That depends.... how many other updates does your home need? Flooring, paint, kitchen, bathrooms? If the popcorn ceiling is the last upgrade you need to make, then yes, it worth the money. HOWEVER, if there are still other updates needed, save your money, and let the buyer renovate as they see fit. When removing popcorn, most people want to put in recessed lighting as well, another expense.

I would be happy to provide with a free, no-obligation consultation. I can tour your property, and provide you the most current market information. This will allow you to make an educated decision on how to proceed.

Please contact me at your earliest convenience to arrange an appointment!
... more
0 votes 3 answers Share Flag
Thu May 12, 2016
Hello Tomo5051, there are currently 43 homes for sale in that zip code and it can be broken down further.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

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.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7 or
... more
0 votes 3 answers Share Flag
Mon Mar 16, 2015
Do think they should let the building fall down from termites?

f they are using pesticides they do have to notify you in advance.
0 votes 2 answers Share Flag
Fri Oct 24, 2014
CaliHomeRealty answered:
Hi Mary Ann - I have a mobile home listed right now. It is a 3 bed/ 2 bath, 1440 sf home in the South Coast Metro area of Santa Ana for $39,000. Please go to or call me the office for more information. ... more
0 votes 4 answers Share Flag
Tue Aug 12, 2014
Alex Montelongo Real Estate Group answered:
Sure, there are plenty of rentals listed on this website. You may also contact a Realtor in the area/city that you wish to live in and they will be glad to help you. Working with a Realtor is your best defense against fraud or scams that are out there.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE lic #01456982
... more
1 vote 3 answers Share Flag
Thu May 29, 2014
doyle davison answered:
In real estate everything is suppose to be "transparent and disclosed" What do you mean by hidden?

Review all documents submitted to escrow and review all disclosures, make sure you hire an inspector you trust and goes over all his findings.

Each person to the transaction has his/herr own duties and responsibilities and a good agent will have no problem reviewing the paperwork as it's submitted to escrow.

doyle davison
surf city realty
... more
0 votes 3 answers Share Flag
Sun Mar 9, 2014
Linda Hollinghurst answered:
Having more than one loan application with a different lender could cause problem's, the lender could say that you are trying to buy 2 properties at the same time and not give you the loan. ( I've had this happen). You should NEVER pay for an appraisal before you have a Loan commitment.
Having a pre approval letter from a Mortgage Broker or lender before you start looking for a home will help you determine what your purchase price will be and what interest rate you qualify for.
Listing agents ask for a pre approval letter before they will consider presenting your offer to the seller.

If you still have any questions please feel free to contact me.

Linda Hollinghurst
Realty One Group
... more
0 votes 8 answers Share Flag
Sun Mar 9, 2014
Linda Hollinghurst answered:
You should ask this question before filing for Bankruptcy with your Attorney.
0 votes 4 answers Share Flag
Fri Feb 7, 2014
Rochelle Chacon answered:
Will have my lender reach out to you to discuss self employed loans.

Rochelle Chacon
949 533-1262
0 votes 4 answers Share Flag
Wed Jan 29, 2014
Steven Ornellas answered:
Hi Kayla,

I agree with the consensus; this is probably the default amount.

To be fully informed of your options please review this blog post covering the 4 ways you can purchase distressed property:

"Distressed Property Purchasing: Understand Your 4 Risk Options!"

... more
0 votes 5 answers Share Flag
Tue May 7, 2013
The easiest way is to just look at the rental ads for your area, see what everyone else is charging.
0 votes 7 answers Share Flag
Fri Apr 26, 2013
Erica Galli answered:
This property is going to Trustee Sale. Trustee sales are all cash and you will be bidding against others at auction. The lender will discount the note, for example of the property is valued at $200000 it will more than likely open up at $150,000 or 70 cents on the dollar.. The homeowners received notice of default and did not act to save their home so the home is going to be sold to the public, if the public does not buy it will go back to the bank and become bank-owned. Sometimes the beneficiary (the bank) opens too high and no one bids, this property will go back to the bank. I have access to of all properties going to trustee sale (not just in all of California. Let me know if you are interested. My email is or call me at (714)-248-2036. ... more
0 votes 4 answers Share Flag
Wed Apr 24, 2013
Steve Colvin answered:
Hi Nelly,

Home is offered for Sale through Its currently occupied and occupants will not allow showings. They are selling home site unseen and it’s up to buyers to deal with occupants. Cash only sale.

Good luck

Steve Colvin
Premier Ca Realty
... more
0 votes 1 answer Share Flag
Tue Mar 5, 2013
Sat Dec 8, 2012
Mack McCoy answered:
No, it becomes voidable. In my non-attorney opinion, you would not be obligated to complete the purchase, but you retain the right to do so; I also think you have a claim for the late fees.

As a practical matter, you're not going to get the completed home and the late fees. I would get an attorney first thing Monday morning to review the contract, and then - if I still wanted to purchase the property - negotiate an extension as well.

All the best,
... more
0 votes 3 answers Share Flag
Tue Oct 23, 2012
PacWest Properties answered:
You are able to purchase REO Homes with a FHA loan. You can use FHA loan to purchase condo/townhomes/single family residences).

What I think you are trying to say, (can you buy a foreclosure condo/townhome)

I today's market place, All condo's that were previously FHA approved have to requalify. Because the requalifying process requires condo association assistance and time, listing agents and REO companies have no interest in trying to get the condo's re-approved and will only look at conventional financing offers.

If you would like stratigies to get around this problem, contact

Scott fredrickson
Brentwood Pacific Financial
... more
0 votes 6 answers Share Flag
Mon Sep 24, 2012
Gregorio Denny answered:
Yes you can do a cash out refinance before 6 months. Fannie Mae has a "delayed financing" exception. I would be happy to assist you with this.

Delayed Financing Exception

Borrowers who purchased the subject property within the past six months are eligible for a cashout refinance if all of the following requirements are met:

• The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV/CLTV/HCLTV ratios for the transaction).
• The purchase transaction was an arms-length transaction.
• The transaction is documented by the HUD-1, which confirms that no mortgage financing was used to obtain the subject property. A recorded trustee’s deed (or similar alternative)
confirming the amount paid by the grantee to trustee may be substituted for a HUD-1 if a HUD-1 was not provided to the purchaser at time of sale.
• The sources of funds for the purchase transaction are documented (such as, bank statements, personal loan documents, HELOC on another property).
• All other cash-out refinance eligibility requirements are met and cash-out pricing is applied.
... more
0 votes 5 answers Share Flag
Fri Jul 20, 2012
Vinny Tran / Mr. "Little Saigon" answered:
Hi Carole,

Depent on How Big the property is? How Messy is it? the bid could run from $200 - $2,000 ... As listing agent we prefer a cleaning crew also handle minor repairs for the property (with separate charges) ... signup and get connected with Handymen, gardener, painter, roofer, electrician ... ect. ect ... in your area ... team up with them for more Attractive Services offer to our Real Estate Community.

If you still have any more questions, Please feel free to contact us.

Vinny Tran / nancy Do
Mr."Little Saigon" & Associates
CA Broker ID # 01153694
... more
0 votes 3 answers Share Flag
Wed Feb 29, 2012
Jeremy Lehman answered:
Great advice here. Start with the real estate agent's broker or manager. If it's an ethics issue, than the board is appropriate as well if the problem cannot be resolved at the broker level. ... more
0 votes 13 answers Share Flag
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