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Financing in Kern County : Real Estate Advice

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  • Home Buying5
  • Home Selling0
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Activity 47
Wed Nov 23, 2016
Maricris A answered:

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0 votes 1 answer Share Flag
Sun Dec 27, 2015
Olga Jones answered:
You can go to the owner direct. I have seeing they carry notes many times, I only know a few banks who finance this homes.
0 votes 3 answers Share Flag
Fri Nov 7, 2014
Dawn / Wholesale Lender answered:
We have a W-2 income only program where we just confirm the w-2 with the 4506t. If anyone needs it let me know . We're wholesale and correspondent lenders.

Dawn / Motive Lending / Account Executive
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0 votes 8 answers Share Flag
Thu Apr 24, 2014
Rob Weber answered:
That seems like quite the stretch there my friend, it might be better to reset expectations. How long is the local USDA office currently taking to underwrite files? Is the appraisal done? Etc. If you've been out of the country and you have no credit, you'll have additional challenges (not saying a loan isn't doable, you're just adding complexity to a situation you're seeking an expeditious result from).

I do USDA loans and I've never had one take so little time, even with a full file. The only way I cuold see that being doable is if the appraisal was back in say... a week and the the processor reviewed it immediately and gave a loan approval and within a day or two, you had your conditions in and the underwriter turned around the final loan approval in 1-2 days for a clear-to-close then the file was sent to USDA and they underwrote the file in 4 hours then a lender sent the file to closing, issued a loan package and had an approved HUD settlement statement all in 24 hours.

My suggestion, reset expectations and get the necessary time needed to do this properly. I'm sure someone will jump on here and tell you what you want to hear but that's just a customer service nightmare waiting to happen. Be proactive, request an extension necessary to close in a fast but efficient manner and call it a day.

By the way, what's with the rush? I'm sure your contract didn't get executed today with a two week closing window.
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0 votes 1 answer Share Flag
Fri Feb 21, 2014
We offer manufactured home loans nationwide, as long as it is a doublewide or larger. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.

Bart Gabe - Lending Nationwide Since 1987

800 315 8803

NMLS 20743
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0 votes 2 answers Share Flag
Thu Jan 2, 2014
Dee Oliver answered:
Where is this property located? Is it in New York or California. The answer to your question could affect the answer. Dee Oliver
0 votes 9 answers Share Flag
Tue Dec 10, 2013
Gregorio Denny answered:
"borrower has 1 credit card rated 9 months and another only rated 5 months but has 3 credit scores over 640."
Should not be an issue, FHA has no minimum credit line requirement. I have lenders with no overlays.

"Or a borrower that has a couple credit cards from 5 years ago that have been closed for 4 years and no new credit but a FICO over 580."
Zero active trade lines would be a problem. At least 1 would be necessary. If they had no credit score it would be easier than having the 580.

"Borrowers that can't prove rental history that have no alternative credit."
Rental history is not generally required. Why do they need alternative credit? Is this the same borrower with the 580 and no trade lines or a different borrower?

Please clarify.
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0 votes 1 answer Share Flag
Tue Dec 10, 2013
Mark R. Barrett answered:
I do them with no overlays. Which means I follow the Fannie Mae, Freddie Mac, VA or FHA guidelines.
0 votes 2 answers Share Flag
Tue Dec 10, 2013
Mark R. Barrett answered:
If it fits the FHA, Fannie Mae, Freddie Mac, VA guidelines which are online for the world to see then I can do it. I'm doing a tricky Doublewide now via CMG.
0 votes 8 answers Share Flag
Wed Dec 4, 2013
Brian Nguyen answered:
The best thing for you to do is to just shop around and check out different lenders to see if this can be done for you. If you find a lender that cannot do this, they will likely lead you to a lender that can. Lenders are well connected and would be glad to help. I would be happy to speak with you to help get you started on this type of loan. I would like to hear more from you to see if I can help you, if not I would be glad to lead you to someone that can. So if you have any further questions or if you would like a loan, feel free to contact me! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 ... more
0 votes 5 answers Share Flag
Thu Aug 15, 2013
Alexander Greer answered:
I was just looking through old post and I noticed yours. If you were not able to refinance at the time of the post, I can certainly help you out now. You can call me at 408-352-5147 or email me at You can check us out at I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
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0 votes 8 answers Share Flag
Mon Jun 17, 2013
Yes these posts are all correct.

Dee Oliver is making a great point. The best deals out there right now tend to be the short sales, that is becuase the buyers are not going to get any money out of it anyway and so it does not matter what they sell for.Short sales are quickly going going away as prices are going up and it takes months to to get the full approval. It is worth the effort as you could save 20-40 thousand in the Bakersfield market going that way.

Valerie is also correct, you need to be preapproved. To answer your question, we go off of the gross amount, but VA takes it a step further, they look at something called "Residual Income." which is the income left after you pay your set bills, and is calculated on a number of factors such as your family size.

Besides the C of E we want the DD214 "assuming you have been discharged" and then just the normal items we have on any mortgage. Just a few more forms, the sellers will need to sign a form saying they know they can not keep even a dime of your ernest money. Probalby best not to mention too soon.

When you say you have a 401 loan, I am assuming that is a 401 K? Becuase it has less than a year to go we will not count that against you. You do not need to put any money down on a VA loan. Many people put only a dollar down as a good faith deposit, I recomend putting down more ernest money if you can, though it is not required. It just makes your offer seem stronger. They can't keep it anyway, but the sellers feel better.

Anyway, I do not know if it is a trend, but interest rates have been going up and home prices have been going up too. Waiting to November many not be the best idea, if you can avoid it. But really no one knows what will happen, it appears to be forming a trend.

The point is that you may not need to wait, and it does not seem like it would be a good idea to do so if you do not have to.

Anyway, if you would like I could get you pre-approved, there is not obligarion or cost for doing so, ny phone number is 949-930-1210.
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0 votes 5 answers Share Flag
Mon Jun 17, 2013
I am probably too late, as you asked this question a few months back.

I wouild say the VA loans are possibly the most favorable loans on the market. However, unless you are a disbaled vetern, there is a VA funding fee that on the 2nd use is very steep. You can add it to the loan though.

Here is a chart

Most of these loan companies do not do a lot of VA loans, you need an experienced lender.

If you would like help please let me know.
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0 votes 6 answers Share Flag
Mon Jun 17, 2013
Yes becuase it has been 3 years since you bought the other home and the rental is on a long term lease it sounds like we could do that as a primary residence.

We would need a copy of the lease and letter of explanation.

If the property in Coarsegold is upside down, you will run into problems. In that case calling the new home a 2nd home might get you around that and the terms are very favorable on the 2nd homes.

Contact me if you would like to be prequalified there is a no cost an no obliagation, it would then help you make a decission as to what the payments might be, down payment and then you will be able to make an informed decission.

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0 votes 5 answers Share Flag
Thu Jun 13, 2013
That is too bad I did not see this sooner as rates are probably too high right now.

But I can go down to 600, if your credit score is lower than that please give me a call, I work with people all the time to fix their credit (free of charge) in hopes of getting you a mortgage.

I also have some good professional credit cleaning services that may work for you.

Also I expect interest rates to come back down, of course no one knows what they will do.
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0 votes 1 answer Share Flag
Fri May 10, 2013
Doreen answered:
You may want to stay current on your payments and put the home in AZ in escrow and then sell your existing home. If possible purchase the AZ home and then short sell or deed in lieu.
0 votes 2 answers Share Flag
Sat Feb 9, 2013
John Arendsen answered:
Did you find out if it's a "Manufactured" or a "Modular"? That's the first and most important step. If it is a HUD Manufactured Home the second step is to find out where the nearest comp is and what its current value is. ... more
0 votes 3 answers Share Flag
Thu Aug 9, 2012
Jacob Varghese answered:
Hi Lisa,

Please see attached document. I can do a pre-qualification or Pre-approval for you.

NMLS 327086 ... more
0 votes 3 answers Share Flag
Thu Mar 1, 2012
Mark R. Barrett answered:
I do a lot of 203k loans in Bakersfield. I can do them through Wells Fargo or outside Wells Fargo. If you want it done cheaper, faster and with less pain I would possibly go outside Wells Fargo, albeit wells Fargo is a good company with great loan officers in Bakersfield. I am a broker so I can qualify for more home, 580 FICO with less restrictions, than most bankers. My last employer was BofA(joke) so i know. It's always good to shop so i hope you give Wells Fargo(or Chase, Citi, KSFCU, Robobank), myself as a broker(or Local lending, allcredit) and one of our local direct lender(The Mortgage House, Platinum, GEM,Agape, Acadamy, Imortgage...) a shot at giving you fee sheets and timelines for close so you can make a well educated decision. These are easy loans but can take 45 days to close if your lending team is not that agressive. ... more
0 votes 2 answers Share Flag
Mon Feb 27, 2012
FHA allows you to do a streamline refinance. I do them all of the time, we do not consider the value nor do we do an appraisal.
0 votes 4 answers Share Flag
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