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Home Buying in Fremont : Real Estate Advice

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  • Home Buying482
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Activity 773
A few hours ago
Reetuanwar asked:
Thu Jul 13, 2017
Robert Spinosa answered:
Here in California in 2017, one can obtain a single loan with 15% down up to a loan amount of $3MM. This program has no PMI and makes up for the risk with a small rate premium, usually .125% to .25% higher than the same loan with 20% down. Some buyers find this acceptable because to otherwise wait to accrue 20% is not an option. The loan does not have a prepayment penalty and is available as both fixed rate and ARM.

As mentioned in other replies, it's also possible to do a "piggyback" structure, where you add a smaller second mortgage behind an 80% first mortgage. This too avoids PMI and allows for down payments as little as 10% in the jumbo price points.

We are very familiar with these programs AND with getting buyers into contract with them, which can be an additional challenge. If you need help, certainly get in touch. Thank you!
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0 votes 12 answers Share Flag
Sun Jul 9, 2017
Robert Spinosa answered:
Radkan,

If you're on a work visa (H-1B, L-1, etc.) you can get jumbo financing up to a price of about $1.6MM, but you'll need a 10% down payment. The other key factors are established US credit history (generally we prefer to see two years) and two years of US tax returns filed. But if you have the above, your terms will be very competitive and we have helped many buyers in this situation.

Jumbo loans with 5% down are still relatively stringent and while we do have a single loan solution (with no PMI) that will go to a loan amount of $1.5MM with just 5% down, this program can be a challenging qualification even for a US citizen.

Let me know if you'd like to discuss your scenario directly and we are local to the SF Bay Area. Thank you!
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0 votes 1 answer Share Flag
Tue Jun 13, 2017
Claudia Muller answered:
As long as you do not have any mortgage interest deductions on your previous three years Federal Tax Returns (1040s), you will still be considered a First Time Homebuyer.
As evidence you were just a cosigner, you friend will need to provide you with 12 months cancelled checks (paid by him) to the loan servicer. ... more
0 votes 6 answers Share Flag
Tue Jun 13, 2017
Claudia Muller answered:
Property taxes will be the same regardless of primary residence or investment as they are based upon purchase price.
Buyers who state they are going to occupy the property with the real intent to rent out the property are committing loan fraud.
The difference in rate is not enough to justify the possibility of loan fraud implications.
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0 votes 12 answers Share Flag
Sun May 21, 2017
Susie Kay answered:
Find out why they are cancelling and see whether there's something that your both can come to agreement with.
0 votes 1 answer Share Flag
Thu Apr 20, 2017
Meena Gujral answered:
Hi Charo,

Since you are also a realtor in Fremont, I am sure you know the answer to this question.
Not sure why you are posting this question on Trulia.
0 votes 4 answers Share Flag
Sat Apr 15, 2017
Ws Homeowner answered:
Hi, Looks like this Trulia Q&A has died. I would suggest you join the Nextdoor group in Warmsprings and ask that question. https://warmspringfriends.nextdoor.com You may have to sign up, but this is a robust site. ... more
0 votes 2 answers Share Flag
Wed Dec 21, 2016
BuyingInFUN asked:
We are deciding between buying in Niles area, a smaller home with potentially adding a master suite or a ~2300 sq ft home in Union City around Bay Colony area. The Niles home has railroad…
0 votes 0 Answers Share Flag
Sun Dec 18, 2016
Wilford.fender answered:
Timely suggestions ! Coincidentally , people want a CA Interspousal Transfer Grant Deed , my colleagues discovered a blank document here https://goo.gl/sR84vt
0 votes 7 answers Share Flag
Wed Oct 26, 2016
Katherine Dimacale answered:
I need help with this too! Thanks. BTW, if anyone needs to fill out an interspousal transfer grant deed form, I found a blank form here http://pdf.ac/6LKLN
0 votes 4 answers Share Flag
Mon Oct 17, 2016
Salil Deshmukh answered:
How badly is the house on Gilbert Ave near Shinn affected by rail tracks?

-What all trains use this tracks?
-What are the train times?
-Do they blow horn?
0 votes 7 answers Share Flag
Fri Oct 7, 2016
Srivatsam answered:
We have been living in the Parklane community over a year now. I am posting this in 2016 and lots of information below seems to be outdated. I cannot comment on the situation before my stay. The community is clean and the townhomes built have good quality material and layouts. The quality of the doors, windows, appliances and the workman ship is above par. This comes from a home owner for quite sometime and hands on. The community is kid friendly.

Like any other community there is a mix of low income and regular owners. You would not find any difference between the families they are most from professional backgrounds and well integrated. As to the low income housing across the community; there has been no issues what so ever. Few family feuds is bound to be there anywhere. The cemetery is obscure and no direct line of sight or access except for the rear units that too are lined with trees. The inmates of the cemetery so far have not caused any trouble either. Great place with good walking distance from the schools and all other amenities like post office, farmers market etc.
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0 votes 10 answers Share Flag
Sun Oct 2, 2016
CA_Buyer answered:
some more details : If I decide to go ahead with the home, and later discover it is not permitted, can the seller be asked to pay for the correction?
0 votes 1 answer Share Flag
Wed Sep 21, 2016
Sandra Yvette Sullivan answered:
A Realtor and a Broker Associate are definitely different in that broker associates have completed more education classes to earn their broker's license but have chosen to work under the management of a broker. Similarly, if you had to choose between a history teacher at a high-school and a history professor at a college, who would you choose for tutelage? The latter would be the better tutor, hands down. ... more
0 votes 23 answers Share Flag
Mon Sep 19, 2016
answered:
Who pays for hoa fees preparing documents and also the transfer fees, are they both paid by sellers in Orange County.
0 votes 13 answers Share Flag
Sat Sep 17, 2016
Susie Kay answered:
If you are referring to crime in the area then I would suggest that you contact the local police department. They will have the most accurate info.
0 votes 2 answers Share Flag
Tue Sep 13, 2016
Alexander Greer answered:
It really depends. Are you looking for a grant to cover the short fall between your downpayment and the county loan limit because homes are so expensive in the Bay Area. Or are you looking for a grant to cover your downpayment? Both are available and I would only recommend the first. The second most often times when said and done did not benefit the buyer.

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
... more
0 votes 2 answers Share Flag
Wed Aug 17, 2016
Arpad Racz answered:
Hi,
You can try contacting http://www.chimneycleanco.com they have also given bids on work when I needed it.

Kind regards,

Arpad
0 votes 8 answers Share Flag
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