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91331 : Real Estate Advice

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  • Local Info2
  • Home Buying3
  • Home Selling2
  • Market Conditions0

Activity 6
Sun Jul 30, 2017
Hello Lisa, no there is no pre-payment penalties on FHA loans. Depending on the city you purchased in will determine if you will realize any equity to cover the costs to sell a home.

You can buy another home with FHA as long as you are selling your home that has an FHA loan. You can only have one FHA loan at a time. Now you could rent it out and purchase another home FHA if you are increasing in family size or a job relocation.

Any agent like myself can run a CMA, comparative market analysis, to evaluate your market value to make an informed decision. Also you want to go over financing choices as well to know your options, payments, down payment, interest rates, etc.

You may qualify to buy FHA 3.5% down from a minimum 580 fico score or 3% down conventional from a minimum 620 fico score. With a little discussion and CMA you would be able to put together a game plan.

When do you plan on selling and are you staying in CA and purchasing another property or intend on renting?

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Wed Mar 15, 2017
Michael Mcgraw asked:
my credit score is low due to past hospital bills and the fact that i havnt had a credit card in 10 years. i pay all my bills on time always.
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Wed May 25, 2016
Dennniseperez4 asked:
My credit score dropped significantly approx. 540. I do have steady employer. I have bank of America as lender. I don't know what to do except sell but I really don't want to…
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Thu Apr 10, 2014
Maribel Munoz answered:
You need to have a Realtor on your behalf to check if the HOA for the complex will allow you to go FHA or only conventional. If the complex is FHA approved or accepting wavers, then you only will need 3% of the pruchase price. (which means $3,500 per every $100K) Lets say if the listing price is $200K then you will need $$7K pluss some extra for closing costs. It the complex is not FHA approved then you will need from 5% to 20% down payment depending on your fico score.
Maribel Munoz/Dilbeck
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Mon Jul 20, 2009
Let me give you the source that all real estate agents use to look at properties that are on the market.
Click the link below, its 100% free for you to use.

Good Luck.
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