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Financing in Woodland Hills : Real Estate Advice

  • All94
  • Local Info5
  • Home Buying27
  • Home Selling1
  • Market Conditions1

Activity 5
Wed Aug 30, 2017
Jeff Grant answered:
You would probably have the most luck working with FSBO's. Once a realtor is involved, they will be hesitant to accept this kind of deal especially in a hot market. www.jeffgrantteam.com. ... more
0 votes 39 answers Share Flag
Sat Dec 24, 2016
answered:
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.

There are income limits on some programs. 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 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 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.

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.

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
... more
0 votes 8 answers Share Flag
Tue Nov 15, 2016
jumbosource answered:
10% would be needed for sure at that loan amount. 5% can be done up to 1mil. Learn more at the web reference link below.

Jumbo Mortgage Source
0 votes 8 answers Share Flag
Tue Aug 2, 2016
Markzjordanz answered:
No credit check, 1 percent interest 30 year fixed, 4.5 proof of funds in which u can use vet status or 401k, the property has to be appraised at 350 k and up. 30 day close, 8037576801
0 votes 9 answers Share Flag
Wed Feb 9, 2011
David Zuckerman answered:
No problem I can go up to 80% LTV with a max loan amount of $600k on a second home. Call me at (866) 552-5912 if you have any questions.
0 votes 5 answers Share Flag
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