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Home Buying in West Covina : Real Estate Advice

  • All82
  • Local Info6
  • Home Buying17
  • Home Selling5
  • Market Conditions1

Activity 27
Thu Sep 21, 2017
Yeslexus asked:
Wed Jul 26, 2017
Fredray3714 asked:
Tue Jul 11, 2017
Nalsammah answered:
Hello,
I am wondering how much down do I need to be able to get approved for a home loan without proof of income? credit score is 771.
1 vote 5 answers Share Flag
Wed Jun 8, 2016
answered:
Hello Govea89, yes you may qualify for FHA programs 2 years after a BK. You may consider the 3%-5% Sapphire Grant down payment assistance program. You can close with minimum out of pocket expenses from a minimum 620 fico score.

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 may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

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 West Covina start from 304k for 2bd 2ba condo and the single family homes start from 399k for 3bd 1ba home.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 3 answers Share Flag
Thu Feb 18, 2016
Diane Christner answered:
Generally speaking, someone having died in a home is not an event requiring seller disclosure.
0 votes 1 answer Share Flag
Mon Apr 20, 2015
Nora Moore answered:
You should definitely take the age of the furnace and roof into consideration. All of the components of the house should be thought over when it comes to the value and cost of a home. It would probably be a good idea to have someone inspect those things before you make a final decision on your price negotiations. It's always best to play it safe when it comes to buying and selling homes like that. http://www.normsmobile.ca/furnaces.html ... more
0 votes 8 answers Share Flag
Mon Dec 1, 2014
answered:
Hi Jackie,

Since California is a community property state, If you're getting an FHA loan or a VA loan they have to run your dad's credit report. If you're getting a conventional loan, they do not have to run his credit, however the lien will come up when the title company runs their search. It would be a good idea for your dad to make payment arrangements now.

Best regards

Elva A. Wormley
Mortgage Consultant
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / CA BRE #01274093
... more
0 votes 3 answers Share Flag
Mon Jul 7, 2014
Carol asked:
Looking for a property in west covina, ca that excepts sec 8. My voucher limit is for 1,050. Thank you
0 votes 0 Answers Share Flag
Sun Sep 22, 2013
Alex Greer answered:
You do not have an agent?

Have you been pre-approved for a loan? Without a pre-approval your offer will likely be disregarded.
0 votes 2 answers Share Flag
Tue Feb 26, 2013
Manuel Ugalde Ultrera answered:
Friendly real estate agent with high ethical standards travels from Riverside to Malibu and from Bell Gardens to Van Nuys is looking for an investor interested in buying properties in those areas or finding properties in those areas, give me a call.

Manuel Ugalde Ultrera, (323) 906 6135
... more
0 votes 2 answers Share Flag
Fri Oct 5, 2012
Jeff Lim (1990 Realtor) answered:
Hi Tila,

Here are 12 active listings in the same area as Greenleaf, West Covina. Let me know if yopu have any questions or would like to see any of them:

Click the following URL to see the Listings:
http://www.mrmlsmatrix.com/DE.asp?k=876308X5F8Q&p=DE-118583831-871

Best regards,

Jeff R. Lim
Realtor (22 yrs)
M J & L Realty Inc.
(909)994-6966 cell
(888)334-6570 fax
JLimQuest@earthlink.net
JeffLimRealtor.Com
DRE Lic # 01074730
... more
0 votes 4 answers Share Flag
Fri Oct 5, 2012
Jeff Lim (1990 Realtor) answered:
Here are 3 active listings that are 2units in a lot in West Covina. Let me know if you have any questions or want to see any of them.

Click the following URL to see the Listings:
http://www.mrmlsmatrix.com/DE.asp?k=876308X5F8Q&p=DE-118582743-569

Thanks,

Jeff R. Lim
Realtor (22 yrs)
M J & L Realty Inc.
(909)994-6966 cell
(888)334-6570 fax
JLimQuest@earthlink.net
JeffLimRealtor.Com
DRE Lic # 01074730
... more
0 votes 3 answers Share Flag
Mon Sep 10, 2012
Andrew Quezada answered:
Nobody knows what the market will do but even if home prices take a drop -- I don't beleive it will be drastic and i truly believe interest rates will rise. So although you may buy at a slightly lower price, you likely won't take advantage of today's awesome rates and willl have a higher rate for the 30 year duration of your mortgage.

Andrew
626.825.6565
... more
0 votes 12 answers Share Flag
Mon Sep 10, 2012
VictorAndCarolina.com answered:
You can get an FHA loan with a 500 fico score with 10% down. We have closed deals with large banks, direct lenders and brokers. they all have different guidelines and different programs. We can refer you to our lenders to see your best options. Good luck! ... more
0 votes 5 answers Share Flag
Mon Feb 13, 2012
answered:
I think it's what Bill Mota said. Your new loan will pay of the existing loan and the remainder of the sales price with your down payment.

Happy funding, Rudi
0 votes 4 answers Share Flag
Thu Mar 24, 2011
John Arendsen answered:
Are you in the midst of a sales transaction? If so, perhaps you might consider your own appraisal and forget about trying to cage fight for BofA's. That will lead to no where if they own it. Truth be known it's a known fact that the big banks own the big appraisal networks so you might be better off stepping up and paying for your own. ... more
0 votes 4 answers Share Flag
Thu Sep 23, 2010
Jaryd Ruffner answered:
This will be 100% dictated by your rights which are outlined in the purchase contract and any bank addendums you may have signed. Bank addendums will supersede all verbiage within you purchase contract. Your Realtor should be able to answer this question based on their interpretation of all forms signed by you. If they are unsure, take these forms to an attorney to review. Even if you are entitled to your EM back, the bank could still dispute your rights if they wanted to be difficult. I wish you the best of luck. ... more
0 votes 9 answers Share Flag
Fri Jun 25, 2010
Emily Knell answered:
Yes, you can back out. As soon as you know that this is what you want to do, please don't hesitate and tell the listing agent as soon as possible, so they can put the house back on the market asap.

Do not listen to agents who tell you not to look at short sales. Short sales will get you a more discounted price over REOs and most equity sales. There are some great tips I can give you, so before you do offer on another short sale, things will go more smoothly for you. Namely, determining how the owners' loans are set up, is there an equity loan that needs to be dealt with, things like that.

Other agents who tell you not to look at short sales are ones who likely have never worked with a bank to successfully close a short sale transaction.

Feel free to email me directly if you have any questions, I won't look back on this same Trulia thread.

EmilyKnell1@yahoo.com
562-430-3053 cell
... more
0 votes 2 answers Share Flag
Wed Feb 10, 2010
Richard Lecinski answered:
In our area our buyers sign the Short Sale addendum at the same time as the purchase offer. If you takle time to read the Short Sale addendum you will understand why.
1 vote 7 answers Share Flag
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