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San Mateo : Real Estate Advice

  • All203
  • Local Info18
  • Home Buying80
  • Home Selling15
  • Market Conditions3

Activity 237
Sat Oct 7, 2017
Susie Kay answered:
Thu Sep 14, 2017
Robert Spinosa answered:
We do a lot of 10% down jumbo financing in CA, but especially in the San Francisco Bay Area. We can presently go to a purchase price of $1.9MM with as little as 10% down so buyers who have the income but may not have yet saved the full 20% do have a shot at purchasing today, even in a highly competitive market.

The answer to your question about buying now or waiting can be modeled out mathematically and we are happy to help with this calculation. It does involve some projections, of course, so I find it helpful to "bracket" the analysis by doing best and worst case. Upon review, the answer becomes pretty clear but there is no best single answer that fits all. Everybody earns and saves at a different rate, all markets experience value change differently and then, of course, there is always a buyer who may have access to a gift or other source of game-changing funds.

In short, we're here to help if you think a 10% down payment is realistic and worth looking into. Thank you!
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Thu Sep 14, 2017
Robert Spinosa answered:
This is a common concern but in all my years of lending (about 16...) I have never seen any material harm to a borrower's score just by way of a credit pull --- assuming that the bigger items are in order. They are:

Bills paid on time (35% of your FICO score).
Balance to limit (30% of your FICO score).
Length of credit history (15% of your FICO score).

New credit inquiries touch only 10% of the overall score and that does not mean that they are always perceived negatively. If you need to get pre-approved, don't let the inquiry stop you.

Lastly, once a mortgage lender pulls your score, you have a window of approximately 45 days during which any other number of mortgage inquiries count as just a single inquiry.

Let us know if we can help any time with your mortgage or credit questions. Thank you!
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Wed Sep 6, 2017
Eddy answered:
As a first time home buyer, the best way is to find a local expert that knows the area well and for the price that you want. One of the local experts is a top local Realtor in the area with the experience to show you homes that $950k and below, we can provide this for you free of charge and no obligation service at ... more
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Sat Jul 1, 2017
Jon Cooper asked:
138 South B St., Apt 11, San Mateo, CA 94401
I want to lower the price from $1,850.00 to $1,800.00.
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Thu Jun 1, 2017
Mary answered:

Thank you for reaching out. I am happy to help you get your listing posted on Trulia.

If you would like to post a rental on Trulia, you will be redirected to use our partner site, Zillow Rental Manager, to list your rental on Zillow, Trulia and other top sites. Please follow this link for instructions on how to post a rental listing:

If you have additional questions or have issues with posting your listing, please reply back to this email and I will be happy to help you.

Zillow Rental Manger Help:

Thank you for using Trulia!

Consumer Care Advocate
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Thu Apr 27, 2017
Brenda Fu asked:
Mon Jan 23, 2017
Grace Mgrdechian asked:
someone created a bogus listing based on a listing I had on Zillow... I have removed it but now, cannot recreate it with the appropriate mls #. please help.
0 votes 0 Answers Share Flag
Fri Dec 30, 2016
Hello Mterickson, be very cautious. The rentals in San Mateo start from $1,200 for 2bd 2ba apt and up.

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 and pay less than rent.

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 documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040s, 1099s, W2s and all schedules, copies of drivers license/ID and social security card 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.

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.

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.

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 you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

The purchase in San Mateo start from 338k for 1bd 1ba condo and up so if you decide to buy you may want to research nearby cities prices as well.

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
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Wed Oct 19, 2016
Shelley Sansbury asked:
Sun Sep 4, 2016
Rich Reed answered:
You could check here
and here
0 votes 2 answers Share Flag
Sat Sep 3, 2016
Crystal Saunders asked:
Great apartment, brand new. Hardwood floors, bike storage, Wi-Fi in apt. We need to go to Austin to help with our grandchildren.
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Fri Aug 26, 2016
Den.rivers answered:
Have you tried to post your property on Rentberry? I listed my apartment there and I don't have problems with editing my listing. The updated info appears on site right away.
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Sun Aug 21, 2016
Aja Walker asked:
Is there anyone willing to rent a 3/1 or 3/2 accepting voucher? Looking to stay as close as possible to Menlo Atherton highschool.
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Tue Aug 9, 2016
Hudp93 answered:
They will take more, just ask
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Fri Jul 1, 2016
USMortgageRanger answered:
Hi Ann,

You would be able to use the income from the first job as you have establish 2 years or more of income from that job, but the income from the 2nd job could not be used to underwrite the file as you have not demonstrated any ability to work this job for any period of time and can quit anytime. The income however will be used a compensating factor in the underwriter decision.

I would be delighted to provide you with some mortgage options, this does not require us pulling your credit and will allow you to make the best decision for your family. I can be contacted for a FREE no obligation consultation.

Lowell Sterling
Mortgage Banker
NMLS 968898
Phone 469-347-3572
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Fri Jun 24, 2016
Marchalabanks asked:
Are there any two bdrm in San Mateo county that will accept a section 8 voucher?
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