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Financing in Tracy : Real Estate Advice

  • All461
  • Local Info33
  • Home Buying221
  • Home Selling10
  • Market Conditions19

Activity 20
Thu Feb 23, 2017
Speedygon_17 answered:

Check with my loan provider at sofi, they are great and helpful with whatever need that you had.
0 votes 9 answers Share Flag
Sat Jun 27, 2015
pradasjuan answered:
funding for all

Hello Sir / Madam

Contact me:

You would like to make a fresh start, free from all debts? It is possible today! you are looking for a loan or mortgage of long duration and you fear not qualify because personal circumstances dune dune dune difficult period or recent demand loan with bad credit not granted. Everything is legal and is done honestly. Do not hesitate to contact us, it does not commit you to anything and the utmost confidentiality and approval is guaranteed. Serious inquiries only.
... more
0 votes 8 answers Share Flag
Tue May 28, 2013
Trevor Curran answered:
Good afternoon Lazboy,

Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

The basic concept is finding a way to "force" savings towards a down payment by including a portion of the monthly rental that goes towards that savings. You pay your rent every month and your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account. Your Landlord holds that money until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.

The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

It's all about helping the renter/tenant save up enough money for a down payment to buy a home (in this case, the one you're renting). But this is a better deal for the Seller because he gets to lock in a purchase price and a buyer today for a future sale.

Saving money for a down payment? Well, heck, you can do that on your own.

If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.

Find a way to save up on your own; not with Rent To Own.

If your credit is less then outstanding here are some steps to help fix your credit:

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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0 votes 3 answers Share Flag
Mon May 27, 2013
Robert Chomentowski answered:
You could not be on the loan until 3 years after your foreclosure for a FHA loan and 7 years after a foreclosure for a conventional loan. Your wife could go on the loan herself but she would need income to qualify and she could not use yours. ... more
0 votes 5 answers Share Flag
Mon May 27, 2013
Eva Bradley answered:
Hello Muhammad,
I agree with the answers below: what ever you do, do not pay upfront fees for anyone! Just wanted to point out that we have an upcoming, free workshop that will address the loan modification topic in details on January 23rd, starting at 1:30 p.m. Oh, I just noticed you are not located in California.... You are welcome to attend in case you are in this area; no obligation! Location: 104 W 10th Street, Tracy, CA.

In any case, you are welcome to aks for more details about the workshop at 209-914-0683 or
... more
0 votes 4 answers Share Flag
Mon May 27, 2013
We have a loan program that may work for you. I would have to look at the whole picture though.
0 votes 5 answers Share Flag
Mon May 20, 2013
Rick McGrath answered:
For those with terrible credit and a good amount of money as a down payment, there are many sellers, FSBO's who may sell to you or at least give you a lease with option to buy. You can find them on Craigslist, many classifieds in local newspapers and the such. When there is a will, there is always a way. ... more
0 votes 9 answers Share Flag
Tue Dec 18, 2012
jjacobsDO answered:
I have represented many “Foreign National” buyers and the most widely used mortgage banker is:

Tom R. Callahan
Senior Mortgage Banker

His E-mail works best for communicating his guidelines on the Foreign National program.
The program requires 25% down and offers great rates and several terms.

BBVA is a solid International Bank and Mr. Callahan is one of their top mortgage officer's.

His e-mail is:

Good luck with this, TJ PhD / Attorney
... more
0 votes 4 answers Share Flag
Tue Dec 18, 2012
Taj Weldon answered:
Hi Felicia,
In addition to the first time home buyer programs that Alvena Is referring to Tracy also has a down payment assistant program.

Taj Weldon
DRE 01816152
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0 votes 2 answers Share Flag
Wed Mar 28, 2012
They may have discontinued the Teacher next door program, for FHA repos. It sounds like you may be a candidate for CalHFA which is a half % down. I do not offer these, but a lot of lenders do.
If you opt for the 3.5 % FHA purchase, we have a program for people with great credit that very low rates, possibly the best FHA rates in the country. It is tougher to qualify for bu you sound like you might qualify. You would need the min 3.5% down though.
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0 votes 11 answers Share Flag
Sat Jun 25, 2011
Per conversation with Tax Assessor - these values that we are getting now are from January, 2009. They do realize that property values have continued to go down, and will reassess in January again.

SO - yes you may get another reduction.
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0 votes 3 answers Share Flag
Wed Jun 15, 2011
Michael C. Angeles answered:
Scenic Oaks Funding
1156 Scenic Dr. Suite 200 / Modesto, CA 95350
(209) 572-2301 x 2504 Office / (209) 923-8509 Efax
0 votes 6 answers Share Flag
Wed Jan 19, 2011
Steven Ornellas answered:
Hi Daphne, I agree with what has been said below. The only comment I will make (adding to a portion of Terri's response) is:

"Your rights to the house and or equity is determined between you and your partner." AND YOUR ACTIONS.

For example, I believe some of the acts listed above, and such things as making improvements to the home, MAY create an "ownership" claim/right.

DO have a RE Lawyer provide you with your legal options based on all the details that have transpired!

Best, Steve
... more
0 votes 4 answers Share Flag
Wed Apr 28, 2010
Kamal Randhawa answered:
Hello Shaheen,

Tracy offers a 30% down payment program with a cap at $75K. Its not a difficult process if you are working with a knowledgable realtor who can guide you towards the right direction. Good luck.

Kamal Randhawa
... more
0 votes 3 answers Share Flag
Tue Jan 5, 2010
Muhammad Khan asked:
Tue Dec 22, 2009
Al Akerman answered:
Hannah, great job! How can I get a copy of your book? As a loan officer, I come across good citizens who would greatly benefit from your ideas. Please let me know.
0 votes 7 answers Share Flag
Wed Dec 9, 2009
Jacob Varghese answered:
Hi Eva,

Your link as posted on the site does not work.

I have corrected it for you. Here is the correct link
1 vote 6 answers Share Flag
Mon Jun 1, 2009
Michael C. Angeles answered:
Of course, there were a lot. You just have to be patient. The loan Modification Process is based on HARDSHIP, and that you can still afford paying the NEW Mortgage terms. If you have these two things together, then your bank will approve you with your Loan Modification. ... more
0 votes 2 answers Share Flag
Mon Jun 1, 2009
Michael C. Angeles answered:
Well, I think there are no limitation on how much houses will you have, the bottom line is that you should be able to afford all of them. If you have the ability to do that then, by all means go have it. The secret to wealth is to have a good Real Estate Portfolio or Asset Accumulation/ ... more
0 votes 5 answers Share Flag
Mon Apr 23, 2007
Jaime & Alexandra answered:
Is there really such thing as the best deal? What one has to do is educate themselves as much as possible and know what loan program works best for them. Once having the right information, the best thing is to shop around and look closely at the Good Faith Estimate and the Truth in Lending to see exactly what fees you are being charged and how much the loan is costing you. ... more
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