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Tarzana : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 5
Sun May 7, 2017
Jbrookes114 answered:
Keep in mind the closing costs also include the escrow fees (Section C), Taxes/Recording (Section E), Prepaids (Section F), Escrow Deposits (Section G), and usually "Optional" Owners title insurance (which is often actually paid by the seller depending on your contract).

You didn't state your purchase price, but reverse engineering your Funding Fee of $10572, leaves a loan amount around $604k and a purchase price of about $636k with the 5% down?

You will be prepaying interest and a full year of insurance as well as paying several months of property taxes into your escrow deposit. On a purchase of over $600k, those amounts are going to feel very high.

However, none of these things is an actual loan cost. What really matters is Section A -- $1595, the interest rate, 4%, and the lender credit -- $2500, which is about 0.4 points.

The REAL question you should be asking are:
1) Is your FICO high enough for a 5% down conventional loan which will save you the $10k funding fee and probably about $300 a month on your mortgage insurance
2) If your fico is low (
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Thu May 7, 2015
Rich answered:
It may add if the homes in your area offer have direct access, but probably not much

Hope this helps


Rich, Real Estate Pro, 89117
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Fri Mar 6, 2015
Maggie Oreck answered:
I do the majority of my transaction in Tarzana and Encino. I would be happy to help you with the search of your new home. This listings is not available but I am sure I can help you finding others in the area

Let's talk!


Maggie Oreck
818.906.8388
CalBRE Lic# 01352758
RE/MAX Showcase
info@maggieoreck.com
www.maggieoreck.realtor
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0 votes 17 answers Share Flag
Fri Mar 6, 2015
Maggie Oreck answered:
Short sales normally take longer than standard (equity) sales. But if the short sale has been approved that is good news and the process should go smoothly

Let me know if you have any other questions or need any help during the buying process I have a lot of experience with Short Sales


Best of luck,

Maggie Oreck
818.906.8388
CalBRE Lic# 01352758
RE/MAX Showcase
info@maggieoreck.com
www.maggieoreck.realtor
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0 votes 12 answers Share Flag
Wed Feb 6, 2013
Miekeba Jones answered:
Hi Trulia, Like what? Could you be more specific?
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