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Financing in Long Beach : Real Estate Advice

  • All673
  • Local Info82
  • Home Buying246
  • Home Selling23
  • Market Conditions19

Activity 20
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Wed Dec 21, 2016
Sheryl Arndt answered:
Hello Nmitchell13, did you get that handled and refinanced? Did the dispute work? There may be options with other banks?

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Wed Dec 21, 2016
Sheryl Arndt answered:
Yes now in 2016 there is down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score.

Either of these can cover the down payment and or closing costs with FHA or conventional financing options of the down payment assistance programs.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

You may consider 5% down Jumbo with a minimum 720 fico score from 417k up to 1.5 million and 10% down from a minimum 680 fico score and up.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 10 answers Share Flag
Susie Kay, Real Estate Pro in Dallas, TX
Fri Dec 16, 2016
Susie Kay answered:
Absolutely. I hope you already found a home by now. If not, I would suggest that you pick up the phone and call a local realtor to assist you.
0 votes 9 answers Share Flag
Jamesliebeng…, Home Buyer in Long Beach, CA
Fri May 6, 2016
Jamesliebenguth answered:
At or they are able to help self employed persons get a home loan with no tax returns with a low score like that. I hope that helps ... more
0 votes 22 answers Share Flag
Ashley, Home Buyer in Monterey, CA
Thu Jun 25, 2015
Ashley answered:
 Pportoff, Real Estate Pro in Morgan Hill, CA
Fri May 8, 2015
Pportoff answered:
New guys in town - Lending Home Funding Corp.

1-855 408-7694
4 votes 8 answers Share Flag
Robert Finger, Real Estate Pro in Irvine, CA
Mon Dec 30, 2013
Robert Finger answered:
I see that you have received some great info from others regarding your question. Another thing is that if you hook up with a lender that is savvy in reviewing credit they may be able to help you determine ways to increase your fico score and follow it up with a rapid re-score. Higher Fico could offer more buying power at a lessor cost. (Which We All Like).
Feel free to contact me
Thank You
Robert Finger
... more
0 votes 4 answers Share Flag
Robert Chome…, Other/Just Looking in San Diego, CA
Thu Oct 10, 2013
Robert Chomentowski answered:
You just need 2 years after the BK and it is possible with as low as a 500 score. But my first suggestion is to give a VA specialist a call and have them run though your credit with you and see if there are any ways to quickly bump up your score. There are usually many ways. I would be happy to assist. ... more
0 votes 8 answers Share Flag
sidboyko, Home Buyer in Long Beach, CA
Sun Jun 9, 2013
sidboyko answered:
Here on the East Coast, what Zestimate is doing is illegal>
Newport RI Broker
0 votes 18 answers Share Flag
Jim Simms, Real Estate Pro in Louisville, KY
Mon May 20, 2013
Jim Simms answered:
America's Pet Registry

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes 6 answers Share Flag
Robert Finger, Real Estate Pro in Irvine, CA
Thu May 16, 2013
Robert Finger answered:
Things to consider are what route of financing conventional or fha. Amount of down payment that you can afford. Fha offers great rates and possibilities of lender credit to help towards closing costs with certain lenders on the more or less side. Fha requires mortgage insurance and on the conventional loan side you can put down 20% and have no mortgage insurance yet depending on your income and debt one can qualify at higher ratios on the fha side than the conventional side of financing. I have not much knowledge of what the builder might offer incentive wize on the lending end yet I would also price out your options elsewhere as well. I feel you two are on it and great luck in your venture. I am both a Realtor and Lender for many years and am available for any of your venture thoughts and questions!
Thank You
Robert Finger
... more
0 votes 20 answers Share Flag
Richard and…, Real Estate Pro in Fresno, CA
Tue Aug 7, 2012
Richard and Fran Lee answered:
Sorry, If your going to borrow their money, They have to know your credit history! Meet with a lender and see what you can do to improve your scores. GOOD LUCK
0 votes 12 answers Share Flag
George Raymo…, Real Estate Pro in Fort Worth, TX
Fri Nov 18, 2011
George Raymondo answered:
This is actually quite common having a co-signer living outside the immediate area or even out of state. This can accomplished without any extra delays or problems. Your lender will send all disclosures via email or overnight. The final loan documents can be handled in much the same way. You'll be okay, your loan officer and escrow officer will guide you though it

Take care,
... more
0 votes 6 answers Share Flag
Louri Groves…, Real Estate Pro in Fountain Valley, CA
Thu Apr 7, 2011
Louri Groves 767-8158 answered:
Hi Mark,

Very smart to shop for financing and inquiring on strategies (broker vs. direct lender vs.builder's in house lender) at the start of your home search!

There are conflicting reports regarding a “window” to shop for mortgages where inquiries are only hit one time. I have asked a mortgage broker to confirm and she asked the credit agency she uses. They are unable to confirm one way or the other.

A buyer would be better served by having ONE report from a broker/lender and have that person give the report to the buyer. She says that the one report should be sufficient to shop around.

I am aware of an FHA program that requires 1/2 percent down, minimum 640 FICO score, maximum loan amount is $417K. I have a short list of reputable lenders, one in particular that my husband and I go to refinance or for new purchases. She always seems to have the best programs. I asked her about multiple mortgage quotes. (More than happy to give you the short list of great lenders)

When you are ready to discuss your short-term/long term home buying goals as well as needs/desires for your new home, please feel free to contact me.

Louri Groves
Prudential California Realty
... more
0 votes 7 answers Share Flag
Deon Williams, Real Estate Pro in Long Beach, CA
Wed Aug 11, 2010
Deon Williams answered:
I believe this answer can be surmized in one word: "reciprocity". Agents get referrals from lenders, by providing exactly that, referrals. I usually interview & invite lenders from reputable institutions to sit in on my open houses, and collaborate efforts with them in getting the transaction done. Once you've established a report with a specific lender, and you're comfortable both with how they work, and how they treat your clients, the mutuality of the relationship takes it's natural course. ... more
0 votes 2 answers Share Flag
Shel-lee Dav…, Real Estate Pro in Rolling Hills Estates,...
Mon Aug 4, 2008
Shel-lee Davis answered:

If you need speed, contact me. I have a lender who got one of my clients approved and ready to draw documents in 72 hours after working with another lender for over 20 days and still not having docs. We were in an REO purchase situation with a short escrow period. He has done this for others, although it takes a lot of work on his part. I would be happy to send you the referral and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
... more
0 votes 3 answers Share Flag
Charita King…,  in Downey, CA
Thu Jul 17, 2008
Charita King - Short Sale Specialist answered:
I have to see your credit report and your financial statements. Are you self-employed? Until we see that, there is no way we can tell if you qualify or not :)
Charita King
562-276-8681 ... more
0 votes 6 answers Share Flag
California M…, Real Estate Pro in Oceanside, CA
Mon May 14, 2007
California Mortgage Broker answered:
This is important. Direct lenders, with underwriting authority, can give instantaneous decisions about loan approvals. They have control over the loan docs to expedite matters.
2 votes 2 answers Share Flag
Laurie Manny,  in Long Beach, CA
Sat May 12, 2007
Laurie Manny answered:
I have used many lenders in the area. Since the sub -prime implosion I have found that many of them have become skittish and are not as secure in providing the loans and in their ability to close the loans. In the best interests of my clients I am recommending the services of Americas Most Opinionated Mortgage Broker who has proven to me that he has only my clients best interests at heart. I am including a link to an award winning four part series that he wrote advising buyers of the best way to get the best home loan. This should be mandatory reading for all buyers prior to choosing their lender. ... more
1 vote 2 answers Share Flag
Laurie Manny,  in Long Beach, CA
Mon Apr 23, 2007
Laurie Manny answered:
You begin by reading this four part series and educating yourself on how to shop for a loan. Brian Brady wrote this award winning series and exposed all of the secrets the loan industry does not want you to know. It really should be mandatory reading. ... more
1 vote 2 answers Share Flag
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