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Financing in Irvine : Real Estate Advice

  • All421
  • Local Info27
  • Home Buying189
  • Home Selling15
  • Market Conditions12

Activity 24
Wed May 10, 2017
Nicole Fedorchek answered:
Hi, John! There are a lot of factors that go into a Mortgage Pre-Approvls, and ratios are just one factor. Also important is to know your credit score, and other factors.
Please reach out to me if you have specific questions!
Nicole
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0 votes 4 answers Share Flag
Mon May 1, 2017
answered:
Hard money lenders are not going to be able to provide financing of up to 95% LTV. Most hard money lender are limited to 70-75% LTV unless it for a fix and flip / rehab type of project in which the value of the property is expected to increase significantly as the property is improved.

You will need a down payment of at least 20-25% to get any hard money lender interested.
http://www.northcoastfinancialinc.com/hard-money-lenders-california/brentwood-hard-money-lenders-loans/
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1 vote 3 answers Share Flag
Mon May 1, 2017
answered:
65-70% ARV is generally the highest most hard money lenders are willing to go. With no repairs to be made how would the property be worth significantly more after no repairs are done?

In these types of situations it often makes sense to consider bringing on a friend/family member/partner who is able to provide some cash to put into the deal.
http://www.northcoastfinancialinc.com/hard-money-lenders-california/irvine-hard-money-lenders-loans/
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1 vote 14 answers Share Flag
Sun Apr 30, 2017
Penny O'connor answered:
Does an HOA have rights not to disclose how many rentals/owners there are on the complex. I am putting my Condo on the market (Fort Collins, Colorado) and my Realtor was denied an answer to the question. This is all very new to me- First time seller. ... more
0 votes 15 answers Share Flag
Tue Jun 28, 2016
Susie Kay answered:
I would suggest that you talk to your agent and ask for suggestions. Then have you agent talk to the builder.
0 votes 2 answers Share Flag
Mon Mar 14, 2016
answered:
Yes.


I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com ... more
0 votes 1 answer Share Flag
Sat Jan 16, 2016
Info answered:
It's always worth it to at least attempt an FHA Streamline Refinance if it's going to give you any benefit whatsoever. Your best bet is to talk to Home Loans For All. I will include a link to their website. ... more
4 votes 7 answers Share Flag
Thu Oct 8, 2015
Cindydavisbroker answered:
Just call them and tell them you got a better deal elsewhere. No one will feel offended. This happens every day.
0 votes 1 answer Share Flag
Mon Jun 29, 2015
Gregorio Denny answered:
I could actually use a hard money lender that will assist borrowers with their owner occupied TDs. The problem is that most out there are operating in violation of the S.A.F.E act which requires an individual NMLS # to originate these.

I see your company is licensed, but you personally are not. Your DRE license isn't good enough to do what you are doing so I suggest you get your NMLS license if you plan to continue soliciting mortgage originations.

If you are only offering investment property financing for business use only, then disregard; but you should specify that so there is no confusion about what it is you are doing.
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0 votes 4 answers Share Flag
Wed Jan 28, 2015
Jamie Tian answered:
Hi,

I would be happy to recommend a great lender to you to answer all of your questions about this if you would like. Just email me at Jamietian@RodeoRE.com and I will forward his information to you.

Best,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
www.JamieTian.com
BRE #01920120
... more
0 votes 4 answers Share Flag
Sun Jan 11, 2015
Richard Vu answered:
What are the terms and conditions are you offering to our investors?
0 votes 1 answer Share Flag
Sun Jan 5, 2014
William Cook answered:
Sure you can change lenders with 30 days left. There are many lenders with 21 days closings. You should always shop for the best rates and terms. I hate to say it but some builders do like to pad their profits by using their in-house source. This was a component discussed in detail by the CFPB to not get locked into home loans by home builders.

Check around and see what you get. have all your documents ready so it can go real smooth if you decide to change. If you are changing due to rates being higher when you signed the contract you may find equivalent rates at the other lenders.
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0 votes 8 answers Share Flag
Mon Jul 15, 2013
answered:
Just so everyone knows, there are a couple of people spamming Trulia with links to the Lenders Network claiming they refer all of their customers to this company which I find really hard to believe.

How many agents are going to refer their clients to a lead company? That's all this company does is collect information & sell it to lenders & brokers as leads.

What's even worse is these people are presenting themselves on Trulia as licensed real estate agents.

I did a search on The Texas Real Estate Commission's website for Andrea Gomez and just as I thought, she's not listed. Check it for yourself.

https://www.trec.state.tx.us/newsandpublic/licenseeLookup/search.aspx

She also doesn't show up on the Keller Williams website under their agent search. Check it by clicking the link below.

http://www.kw.com/kw/AgentSearchSubmit.action?firstname=andrea&lastname=gomez&city=san+antonio&stateProvId=TX&zip=&specialties=&designations=
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0 votes 6 answers Share Flag
Sun Jul 14, 2013
Andrea Gomez answered:
Yes but Instead of calling lender after lender you need to speak to a broker and lender service that knows the loan programs available with multiple lenders. I'd recommend The Lenders Network they should be able to help you find the best loan for your situation, I have had several client's they have helped find the right type of loan for them.. ... more
0 votes 14 answers Share Flag
Thu Jun 6, 2013
Paul Youssef answered:
Sellers do as long as you have a down payment, 10-20% can work. Have a seller finance the purchase. You can find seller-financed homes in Irvine and most OC at www.Seller-Financedhomes.com - No bank qualifying needed for this. ... more
0 votes 5 answers Share Flag
Sat Jan 19, 2013
Marlene Dietrich answered:
It all depends on your income and your debt to income ratio if you can do a refi
Even if you are making your payments now and your FICO scores are high,its all about your debt to income ratio. Contact us. We have some great lenders to recommend ... more
0 votes 9 answers Share Flag
Thu Jan 17, 2013
MJ Omidbakhsh answered:
Try calling Everest Escrow @ 949-783-2430 They are located in Irvine and have access to most common used languages in OC.
0 votes 4 answers Share Flag
Tue Nov 9, 2010
Nazila Pace O'Flanagan answered:
Hello Fattery,

I have never used Alpine nor have I heard of them which sort of concerns me. I have been in the industry for years and I usualy know the names. One I know for sure that EVERYONE knows is Lending Tree. Go to reputable company that's well known and everyone has heard of them. Good luck ... more
0 votes 5 answers Share Flag
Fri Mar 26, 2010
Louwu answered:
I specialize foreign nationals. I accept overseas unaudited profit and loss business statements (for S/E), limited or no credit history, verbal verifications of employment (both domestic and foreign companies is OK), no green card (foreign nationals), and loan sizes up to 1.5MM.

The best part is that our rates are nowhere near close to hard money: our 3/1 ARM rate is 4.875!

If you have any questions, don't hesitate to contact me.


Cheers,


Lou Wu
(949) 870-2882 CELL
louwu@chinatrustusa.com
Chinatrust Bank USA
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0 votes 3 answers Share Flag
Sun Nov 15, 2009
Bentley Advisors answered:
All lenders have guidelines for approval. If your loan or qualifications do not meet guidelines in any way, an "exception" may be allowed or req'd. This means that the lender will need to request an "exception" to the rule for approval of your loan. Typically, the only way an exception is granted is if there are other compensating factors. For example, let's say the loan requires a 740 FICO score. You have 720. Lender may make an exception based on the fact that your debt ratio is super low and/or you have tons of assets or your down pymt is super high. These would all be considered compensating factors since they exceed standard guidelines. This is just an example for illustration purposes.

Your broker should be explaining this to you and you should feel comfortable approaching him/her with these types of questions. If you're not, that to me is a red flag. Is your broker suggesting you go directly to a large bank? If so, he/she may not be the right pro for you. A good broker should have greater flexibility than most big banks to find the right place for your loan. Good luck.
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0 votes 5 answers Share Flag
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