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92078 : Real Estate Advice

  • All35
  • Local Info1
  • Home Buying11
  • Home Selling6
  • Market Conditions0

Activity 31
Sun Dec 17, 2017
Frank S. answered:
Yes your DTI can be between 36% and 50% for Jumbo depending on your LTV, fico scores, etc. You may consider 5% down jumbo from a minimum 720 fico score up to 1.5m. You may consider 10% down jumbo from a minimum 660 fico score up to 2.5m.

Check out the web reference link below...
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Wed Aug 16, 2017
Rich Reed answered:
Hi, Sean, most "mortgages," deeds of trust, are recorded with the county. You would probably have to go in person to search the county records. Most Realtors, escrow offices, title companies, real estate attorneys, etc. have access to the records and may be able to help, too. If you're already working with a Realtor, you should ask your agent, many agents provide their clients with property profiles as part of their service. Hope this is helpful! ... more
0 votes 1 answer Share Flag
Tue Mar 28, 2017
Hello Sonny, you should flag any fraudulent rental listings you find to be removed thru Trulia. If you know of anyone that has been ripped off they can contact this FBI fraud division for an investigation. FBI Internet Fraud Division

Are you only looking for rentals or are you open to purchase? The rentals in 92078 start from $1,488 for 1bd 1ba condo, from $1,900 for 2bd 2ba condo, from $2,100 for 3bd 2ba condo and the single family homes start from $2,800 for 2bd 2ba home.

The purchase in 92078 zip code start from 125k for 1bd 1ba condo, from 220k for 2bd 2ba condo, from 275k for 3bd 2ba condo and the single family home start from 345k for 3bd 1.5ba home. You may qualify to buy with minimum out of pocket expenses and pay less than rent with down payment and closing cost programs.

You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses, less than first, last and security with down payment and closing cost assistance programs.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you are buying a primary residence you could consider a 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 up to 424k. The CHDAP down payment and closing cost program can go up to 600k in high balance areas like Oakland.

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 424k. 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 424k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Both rentals and purchase can be emailed to you to study and compare to consider...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA or CalVet loan specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Wed Mar 22, 2017
Angelica P answered:

I have emailed you regarding this.

Thank you for using Trulia!

Consumer Care Advocate
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Tue Mar 21, 2017
Katherine2011 answered:
Because they think they're going to force your hand, Jim. That's why. We have a hyper-bubble right now. Don't even think about buying because when that bubble busts, you're left holding that massive mortgage for a home with less than half the value. ... more
0 votes 8 answers Share Flag
Thu Sep 8, 2016
Rich Reed answered:
If you're now month-to-month and the new owner via short sale intends to occupy the property you might only get a 30 day notice, and it will probably be issued before the escrow closes. If the new owner does not intend to occupy the property, then you might get a 60 day notice.
The owner might offer you a small amount of money instead of evicting you. You will have trouble renting for a long time if you get evicted. Your deposit should be handled in the same way as any termination of tenancy. If the property is foreclosed instead of a short sale then you might get a 90 day notice. It sounds like you have already read about that. A short sale would be in lieu of a foreclosure, that's why the rules could be different.
I am a real estate broker qualified to advise you on California real estate matters, not the law. If you desire legal advice, consult with an attorney.
Best of luck!
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Wed Aug 17, 2016
Lewis George answered:
we have fund available
lggatorfinance @
0 votes 2 answers Share Flag
Thu May 5, 2016
2008ww asked:
Wed Aug 5, 2015
Lkbeall answered:
Contact the San Diego Tax District and ask. The Mello Roos is assessed by size of property and/or land.
0 votes 7 answers Share Flag
Wed Jul 9, 2014
Steven Shaffer answered:
You can sell your home with a contingency on finding suitable replacement housing in your contract with the buyer. If you do not find a suitable replacement home, you can cancel your sale or negotiate for an extension. Additionally, arm yourself with a strong and convincing pre-approval letter - preferably with the Automated DU Findings, proof of your credit score, and proof of funds to close accompanying your letter. Work with an aggressive agent who responds quickly to phone calls / texts / emails from you and the realtors he/she is dealing with on your behalf. That combination is really the best you can do. The only other thing you could do is borrow cash from a wealthy relative and pay them back with a cash out refinance on a new home after you close escrow. ... more
0 votes 17 answers Share Flag
Thu Feb 6, 2014
Michael Ford answered:
folks, this question is 4.5 years old.

trulia, get some new questions that are timely so as to be most relevant to the current market
0 votes 13 answers Share Flag
Sun Dec 15, 2013
John Arendsen answered:
You really should start with the park manager. You will have to fill out an application and be approved by them before you even make an offer on a manufactured home in a rental park

We are a California licensed and experienced manufactured home and general contractor and manufactured home dealer, developer and real estate brokerage with decades of experience in the MH industry.

Please feel free to contact us anytime at 800 909-1110; cell: 760 815-6977. Or email us at

Please feel free to log onto any of our very user friendly websites:
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0 votes 4 answers Share Flag
Thu Nov 28, 2013
Mike Stone answered:
Mello Roos is a California state assessment, that goes toward developing the infrastructure in the surrounding community where a home is bought. Mello-Roos funds provide principal and interest payments for services, which include maintenance for streets, water, sewage, electricity, infrastructure, schools and parks. Mello-Roos is commonly imposed on new community infrastructure, like schools and roads.
Many buyers draw a line in the sand, and say, that they don't want to look at homes that have Mello Roos tax. But, one should look at the bottom line. What will the payment be? Some times homes without Mello Roos are higher priced per square foot. And, some have HOA fees. The only way to compare apples to apples is to compare the monthly payment.
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Sun Oct 13, 2013
Amanda Joy Barba answered:
Yes. You definitely can start out part time. However, it's important that you realize the MAIN way to make money in real estate is through telemarketing, door to door sales, buying ads, and mailing out marketing material. If you don't want to telemarketer or go door to door, then you will need alot of cash to do mailers. The only other way is if you know people who want to sell or buy a home. ... more
0 votes 12 answers Share Flag
Mon Sep 9, 2013
We offer interest only loans. They are available to anyone that meets the income and credit requirements. Interest Only loans aren't only available to "affluent borrowers".

Interest Only loans make sense in some cases. For example if your looking to own the property a short period of time. Very popular loan program for property flippers or borrowers expecting a rise in income.
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1 vote 5 answers Share Flag
Fri Sep 6, 2013
Bob Willett answered:
I think that may be accurate at some level, but it’s really a pretty stupid statement to make. Interest-only and even negatively amortizing loans do have a place in the market, and their absence is having a negative effect on today’s market.

The problem with those type of loans is they are very dangerous in the wrong hands they can have huge negative consequences. The people that I have worked with that were attracted to the negatively amortizing loans, etc. typically had inconsistent income. This would be self-employed people, general partners, commission only sales people, and people that have incomes affected by seasonal factors. These people benefit from having a smaller regular or required payment for these times when the cash-flow is low, but then can make significant principle payments when the cash is there. I think this is where the “affluent borrower” label comes in; the reality is incomes that are less regular are also typically much greater as well. Interest-only or negativity amortizing loans given to borrowers who just want lower payment is a disaster in the making.

A few examples of borrowers I’ve done these type of loans for are: 1) a lawyer who took a draw of $40,000 a year as a partner but whose partnership distribution was in the mid six-figures, 2) a business owner whose business ran in the red for 10 months out of the year but made well over $200,000 during the Christmas shopping season, and 3) a high-steel construction worker who made over $150 an hour but would go long periods of no income when the weather was bad; he still made over $100,000 a year.
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2 votes 6 answers Share Flag
Fri Aug 2, 2013
Robert Chomentowski answered:
Many lenders were looking at loan mods like short sales or foreclosures and wanting a 3 year wait. Give me a call and I can research the latest, there may have been some changes.
0 votes 5 answers Share Flag
Mon Jun 24, 2013

This should help. But Nick Rhea is absolutely correct about contacting a builder.
0 votes 2 answers Share Flag
Mon Jun 24, 2013
Most of those programs seem to run through CALHFA, basically it is a silent 2nd and you need 1/2% down. So some cities are signed up with CALHFA to offer it, we can go around and go straight to CalHFA. Anyway I find this is the case most of the time.

However as Raymondo put it the USDA loan would be better and there are a lot of areas that qualify there. This is a true zero down loan.

The company I work for WCS Lending, is one of the largest direct lenders for the USDA program. The mortgages are much less expesnive. If the property qualifies and you meet the income requirements, it is clearly a much better option.

Rich Littlefield
WCS Lending
NMLS 287206
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Sun Jun 16, 2013
Christopher Pagli answered:
All properties on Trulia have to be listed through a broker as it is an agent only platform at this time.

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