Second home in San Ramon

Asked by Second Home Seeker, San Ramon, CA Thu Apr 16, 2009

I am looking for second home in san ramon (preferably) or dublin area. My budget is $600k for 4BR/2.5BA SFR. Will getting the 2nd mortgage be hard under current economic condition? My current mortgage payment is below 33% of my income and I have excellent credit score.

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, ,
Thu Apr 16, 2009
Hi second home buyer...

As a Mortgage Broker my first question would be where is your primary residence located. There are some tricky rules to be considered "second home" now a days. I do agree with Michelle and she is correct, the second mortgage market is all but gone.

I would be happy to discuss your options and give you a free analysis if you would like.

Best of luck and I hope to talk to you soon.

1 vote
The Hagley G…, Agent, Pleasanton, CA
Fri Apr 17, 2009
There are products available....a great San Ramon Mortgage Broker is Linda Grassi. Her direct line is 925-824-4848. I just sold a great home on Browntail way...3 BR/2.5 BA....built in 2006 I believe, for $569,000. There are deals ot there!
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Robert Chome…, , San Diego, CA
Fri Apr 17, 2009
To buy a 2nd home in San Ramon you'll probably need 20% down and you will have to qualify with both PITI payments. Give me a call to discuss. San Ramon will have to be at least 50 miles to count as a 2nd home and you'll have to have an explanation why it's a 2nd home.

Or you can buy it as an investment property with an investment loan and not have the 50 mile limit. That's 20-25% down as well.
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Bernard Gibb…, Agent, Danville, CA
Thu Apr 16, 2009
I specialize in working with buyers and sellers in San Ramon and your $600K target is very reasonable. How easy it will be to finance in your circumstances depends on how much money you have avilable for down payment. I would like to refer you to Michael Caires of Diversified Capital Funding [Tel: (510)377-6093]. He will be able to tell you exactly what can be done.

Please mention my name if you call Michael. I will be delighted to help you find the home you are looking for.

Bernard Gibbons

Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585

See all homes fo sale in Contra Costa and Alameda Counties
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Michele Cast…, , Pleasanton, CA
Thu Apr 16, 2009
I would like to start by saying that it is definitely more difficult to get a second mortgage than it was several years ago, but with a low debt to income ration, decent down payment and excellent credit score- it is absolutely possible. We work with many investors and have successfully closed transactions with buyers in your position. It is a great time to buy investment/second homes with interest rates and property values being low. We partner with some great mortgage brokers who have helped in making it possible. My suggestion would be to begin by speaking with a lender to find out your qualifications and if the price range of $600k is realistic. Please fell free to visit our website for contact info on our preferred lenders or contact me and I will be happy to put you in touch with a lender who will really take good care of you and provide you with solid programs. We would love to help you in your search for a second home and hope to hear from you.
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