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Financing in Mountain View : Real Estate Advice

  • All240
  • Local Info23
  • Home Buying116
  • Home Selling14
  • Market Conditions10

Activity 10
Wed Aug 31, 2016
Very few lenders lend on these, I am assuming it is on leased land. That is a very good deal in today's market for a mobile home on leased land.
If you own the land it is a different ball of wax. ... more
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Tue Dec 1, 2015
Claudia Muller answered:
Stephen: the lender should send a Reconveyance Deed to the county in which the subject property is located. They should also send you a copy of the original Note that states paid in full.
Once the deed is recorded, the county will send a copy to your mailing address.
You should receive all of this within 45 days of paying off the Note.
I would follow up with a phone call to the lender in question.
... more
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Wed Jan 15, 2014
Geof McLaughlin answered:
Even under the new Qualified Mortgage (QM) guidelines that just took effect, it's still possible to get a mortgage with less than a 20% down payment. However the days of low down payment mortgages may be coming to an end with the eventual unwinding of Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac used to have a 3% down payment program for low to moderate income borrowers, but both of those have been discontinued (Fannie Mae was the last, but it was discontinued the end of last year).

The only remaining low down payment programs for typical borrowers are FHA (3.5% down payment) and state affordable housing programs like MassHousing in Massachusetts (see below).

I would check to see if California has a state affordable housing program as that type of financing will no doubt offer significantly better financing terms than a FHA loan.
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Sun May 13, 2012
Finance1online answered:
The making home affordable refinance program has changed a lot since 2009. Now there is no limit to how far upside down a borrower can be so regardless of LTV you can refinance with any lender you choose. You can review all the details on our website at ... more
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Thu Feb 23, 2012
John Souerbry answered:
I don't know of any web sites specifically used as a meeting place for small unit investors, though I'd think you could post blogs or questions in Trulia Voices, or similar forums, saying you are looking for partners.
When selling a multi-family property off-market (not putting it on the MLS), it's common to market the property by contacting owners of similar buildings in the area and asking them if they want to increase their holdings. That same process may work for you.
You may also want to search for "syndicates" (a very specific legal term in real estate) that are operating in your area. In their most simple definition, these are typically groups that look at deals and offer them to their mailing list of investors. Anyone can start a syndicate, though most are led by real estate professionals or experienced investors, since their operation is subject to Department of Real Estate regulation.
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Tue May 25, 2010
Ruth and Perry Mistry answered:
Hi Concerened

Do call Boris at 925-699-1210 and let him know I referred you.

Best Regards and Goodluck.
0 votes 1 answer Share Flag
Sun Feb 28, 2010
Carlos Cruz answered:
Vr, before you make your next move, I recommend you contact Ken Strey of CreditLine IQ @ (925) 265-8502. Ken specializes in credit restroration. He will be able to analyze your current credit report and be able to assist you with bringing your numbers up.

Bringing your credit up could take up to as long as 30-60 days. So you will need to take action now. If you are not sure you want to contact him, no problem. I interviewed him for my Realty Webcast you find on my site. The direct link is:

Vr, please don't hesitate to contact me or Ken @ (925) 265-8502. Thank you and I look forward to hearing from you soon.

Carlos Rafael Cruz
REALTOR | DRE# 01865777

Intero Real Estate Services
12900 Saratoga Avenue
Saratoga, CA 95070

+1 (408) 786-5179 (Cell)
+1 (408) 863.3179 (Office)
+1 (408) 877.1595 (Fax)

... more
1 vote 6 answers Share Flag
Sat Feb 14, 2009
Steven Ornellas answered:
Hi Andrew, I'm responding from the deck of my 300-foot yacht anchored off the coast of Aruba (using one hand to type of course as the other supports a stem of Crystal).

POOF! Dream over... but, all joking aside, you get the picture.

In reality, all we can do is monitor the interest rate trends. I say "trends" because there are really multiple interest rate trends based on loan amounts. The "mechanics" of interest rate movement is covered here:

Important Note:
The first paragraph on the second page of this document needs a footnote. Primarily, those loans that are not being purchased by the Fannie/Freddie (jumbos) are being priced at a premium to counter not having the Fannie/Freddie liquidity as an option. For example, the Jumbo-Conforming spread was about 1.8% late Jan/early Feb. Now it's around 1.1% (going in the right direction for sure). Historically, and until July 2007, the spread or difference between conforming mortgage rates and jumbo rates moved within a narrow range of about 0.20%.

Best, Steve
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Wed Sep 17, 2008
Steve answered:
The daily Libor is given once per day. From this Monday to Tuesday it more than doubled (3.1% to 6.4% or something). Today's release shows it backed down a bit to about 5%. So yes, the Libor did in fact double in one day... but presently it's "only" up 60%+ over two days.

ARM-tied Libors generally use 3-month or 12-month Libor rates. They have not changed. And that is ONLY because the don't fluctuate daily. The 12-month Libor rate is released, I believe, once per month (the second business day of each month??)

If the daily Libor does not fall rapidly, the 3 and 12 month rates WILL spike very shortly. I can't think of scenario where the daily Libor rate would run higher than the longer term rates. This spike in the overnight Libor is a big deal. I'm sure Ryan knows that.
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Mon Sep 15, 2008
Denise Dotson answered:
Hi Greg,
It is hard to tell you when it is a good time to refinance. If you want to give me a call we can discuss the best options for you. My number is 410-207-0088. Have a great day! ... more
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