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Financing in Huntington Beach : Real Estate Advice

  • All456
  • Local Info30
  • Home Buying110
  • Home Selling13
  • Market Conditions23

Activity 14
Wed Jun 22, 2016
Martinanguiano answered:
Tue Jul 14, 2015
Bill Caiazzo answered:
I have worked with several investors, and have hard-money lenders to provide financing. Terms of these loans vary, but the best terms I've found are: 90% LTV on the purchase price (not ARV), and either 10% interest rate with 2 points up front, or possibly 11% with 1 point up front. I can connect you with a lender if you would like to ask some questions. If you need assistance in either acquiring or selling your flip homes, don't hesitate to contact me. I've been selling real estate in the Orange County area for about 19 years. I hope this helps! Don't hesitate to contact me for further information. ... more
0 votes 1 answer Share Flag
Tue Jul 7, 2015
Hi Mike
Anything over 4 units would be considered commercial property and thus would fall under different guidelines than financing a home for example. You'd need to speak to a bank that offers commercial financing as opposed to residential.

Unfortunately I don't have anyone to refer you to for that
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0 votes 3 answers Share Flag
Thu May 29, 2014
Gregorio Denny answered:
If there is another credit from either the seller or from the lender, this can easily be accomplished. The easiest way would be to have the lender credit the amount of these items.
0 votes 5 answers Share Flag
Wed Feb 26, 2014
Cal Funds answered:
I would like to refer you to INC Real Estate Corporation in Fullerton, CA. They are most likely going to be able to do that for you. Follow this link and the number will be right there. Ask for Nick Diaz, Aaron Gomez, or Christian Fernandez. Those guys should be able to get the deal done for you ol' sport!
@ Alohahawaiiandancers
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0 votes 6 answers Share Flag
Mon Sep 23, 2013
Kawain Payne answered:
I do all my "banking" with a credit union.
We just recently did a refi on our mortgage with our credit union

The level of service we received was outstanding!!!!

My credit union also provides insurance services. They are becoming my GO TO place for financial and insurance needs.

Kawain Payne, Realtor
Prudential California Realty
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0 votes 18 answers Share Flag
Thu Jul 25, 2013
Sure but when you do the math, is it lateral from renting? I'd like to see more money in the bank. Not for me but for you. $180k, not bad but one time I bought a new BMW had alot of cash in the bank and two years later I was on unemployment struggling to provide for my family. All of a sudden My nice BMW became a huge liability. I had to give it up unintentionally. Coulda, shoulda woulda...Lesson learned. structure is freedom, freedom is fun. If you want a true honest consult, reach out to me. ... more
0 votes 33 answers Share Flag
Tue May 14, 2013
Eddie W. de Leon answered:
I am a Lender real close to you, we are located in Santa Ana, California right off McArthur and the 55. I will be more than happy to walk you through the ins and outs. We are a Direct Lender and know how to get these Reverse Mortgages done right. Call me so we may discuss.


Eddie W. de Leon
Senior Loan Officer
NMLS #238369
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0 votes 6 answers Share Flag
Wed Sep 12, 2012
hr answered:
0 votes 2 answers Share Flag
Tue Nov 9, 2010
john124 answered:
Hi Del

It is a good idea for those 62 and over, who have their home paid off or with enought equity in it. Who has no children, or their children are well off on their own (not counting on inheriting the house). A reverse mortgage will provide you with either a steady income for many years or a lump sum which will not require immediate repayment. You will still be responsible for paying your property taxes and HOA fees. Money can be used for leisure activities "happy retirement" or for necesities and medical needs.
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0 votes 13 answers Share Flag
Fri Aug 6, 2010
Cal Williams answered:
Im answering from Pennsylvania, the laws are different here im sure, but based on what you asked: If the contract says its contingent upon the repair costs being under 5,000, and they are over that , you have the option to walk. The terms of the contract shoudl spell out how you go about getting your escrow deposit back. ... more
0 votes 34 answers Share Flag
Thu Aug 5, 2010
Jeff Maass answered:
You will need all your Loan documents as well as Escrow Instructions (if you have not already signed them). You will need to sign your loan documents in front of a Notary Public, as there are several pages that will have to be notarized. Your funds to close escrow can be wired in to the Title Company's account. Contact your escrow company for Wire Instructions.

If you plan on signing anywhere other than the escrow or lender's office, I would reccomend that you have somebody that can "break down" (explain) all of the documentation that you are signing. Loan documents and escrow instructions can vary from state to state, so while it is not neccessary for you to be in Huntington Beach (or even California for that matter), you should sign in front of somebody that is well versed in the documents that you are signing. In the very least, speak to your escrow officer in California while signing the documentation. He/she should be able to explain all the documentation and disclosures that you are signing.
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0 votes 7 answers Share Flag
Tue Jun 8, 2010
Vivian Young answered:
Dear Buyer:
You will find all of the answers to your questions in the contract that you signed. Buyers have specific responsibilities and Sellers also have specific responsibilities to fullfill. Read and re-read your copies of the California Purchase Agreement then call your agent to meet in person if you have additional questions, concerns or need further explanation about the homebuying timeline.

Seventeen days is plenty of time to have an inspection performed, appraisal completed, and loan approved thus moving on to a successful close of escrow. Do not switch lenders and do not purchase anything while in escrow (car, boat, furniture on credit card) that could alter the final loan approval. Do not quit your job. Sound crazy? It happens.

Good luck!
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1 vote 4 answers Share Flag
Thu Jul 2, 2009
Emily S. Knell answered:
There ARE stated income programs available at 30% down. Your credit score does have to be pretty high though, 800, obviously good enough, I think the min. is 720+. This program was available about a month ago. It's when people have low credit scores, but have $ they run into problems.

For a short example: I had a client with a very successful business, he was renting a home for $7,500/mo. & had 50% to put down on a home, yet his credit score was about 480. The bank said No Way, even with 50% to put down.

If you'd like me to double check with my lender with 30yrs exp, I'd be happy to find out for you if you can get away with not providing tax returns.
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0 votes 9 answers Share Flag
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