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Financing in 90031 : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying7
  • Home Selling1
  • Market Conditions0

Activity 172
Sun May 5, 2013
Gregorio Denny answered:
I read your other post about being declined. You need a second opinion on your FHA loan as I believe it can be closed. Contact me if you would like me to take a look for you.
0 votes 2 answers Share Flag
Mon Jul 1, 2013
Ron Escobar - Local Expert answered:
Try a mortgage banker.. they have access to lots of products... the one I recommend is usually a FHA DTI goes as high as 47% ... your fico is a little too low but should still get you there.

Good luck...

If you find my answer useful please give it Thumbs Up!

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Tue Apr 2, 2013
carlos parrague answered:
Approval for what? A loan?
Assuming you have gotten a pre-approval letter, the property appraises at the sale price then the loan may take anywhere from 20 to 60 days for final approval depending on the Lender ... more
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Fri Mar 22, 2013
carlos parrague answered:
Offers a deferred-payment junior loan of an amount up to three percent (3%) of the purchase price or appraised value, whichever is less. CalHFA's down payment assistance program is designed to assist first-time homebuyers purchase their first home with as little as 1% down.
Since CalHFA is not a direct lender, these mortgage products are offered through private loan officers who have been approved & trained by the Agency. These loan officers can help you find out more about CalHFA’s programs and guide you through the process and let you know what is going on.

Visit the
To find and then to contact a loan officer in your area.
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Wed Mar 13, 2013
walter shui answered:
The loan amount will be around $80-100k. No private loans please. Please leave your info i will call you. thank you!
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Tue Mar 12, 2013
Ron Escobar - Local Expert answered:
Yes. It is typical. It happens to most loans... all the time... you should be able to trust your loan officer, if you do not trust them why are you doing business with them? and vice-versa...

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Sun Mar 17, 2013
Gregorio Denny answered:
If that is the only issue, then I can assist you with that.
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Sun Jun 9, 2013
May want to try PNC Bank, they are going to 89.9%.
0 votes 2 answers Share Flag
Sun Feb 17, 2013
HI Saduono,

You really should ask a CPA. I would say line 801 is not deductible since you were credited over that amount from your broker so you technically didn't pay the $4,795.
0 votes 3 answers Share Flag
Thu Feb 14, 2013
I can't comment on the price adjustments from the lender you are getting your mortgage from because you haven't said who that is.

However what you've been told coincides to the standard price adjustments that Fannie Mae puts forth.

You can view them at on page 2. If you look at it, you'll see that for credit scores of 700 & above at 70.01-75% LTV have a pricing adjustment which is .25% less than at 75.01-80% LTV. If your credit scores are in that range then what you are being told would make complete sense.

And yes, a price of 100.250 means you are currently getting a credit towards your closing costs of .25% of the loan amount you are financing. If the price improves by another .25% because the appraisal comes in to where your LTV is 75% or less then the net price would change to 100.500 and you would then get a credit towards your closing costs of .50% of the loan amount you are financing. If that credit amount is MORE than the closing costs + pre-paids (which is pre-paid interest + initial escrow account reserves if you are setting up an escrow account for taxes/insurance) then the excess credit would be applied towards the new principal balance of your loan to reduce it.

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct
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Tue Feb 12, 2013
brewinboston answered:
On top of everything we have cancelled our utilities in order for the transfer to take place this week. I don't know if the buyers have transfered things into their name. The original contract for this was Nov 15th it is now going on 90 days to close. I'll just keep the place and rent it should take about 24 hours to do that in the Honolulu market. ... more
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Sun Jan 11, 2015
SERGEY FEDNOV *** 424-777-9377 answered:
Whats the amount you looking for and LTV?
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Sat Feb 9, 2013
carlos parrague answered:
I think so, it depends on where you want to live, but the best thing to do is go speak to a banker. Have him qualify you to see how much money you can borrow. have you saved any money for a down payment? ... more
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Thu May 30, 2013
Ron Escobar - Local Expert answered:
you should be able to do it. As long as your discharge date is more than 2 years ago, and the 2nd was also reconveyed... try fha because your loan to value is high...
0 votes 6 answers Share Flag
Tue Jan 29, 2013
Fred Glick answered:
Hi Tony,

I can help.

Fred Glick

Broker/Owner, Multi-state Licensed Real Estate Brokerage U S Spaces, Inc.
Managing Member, NMLS Certified Mortgage Brokerage U S Loans Mortgage LLC

215.238.9400 East Coast
415.683.6950 West Coast

2043 Locust Street Phila, PA 19103 215.829.8850 x201
4354 Perlita Ave Los Angeles, CA 90039 310-741-7179

Licensed Real Estate Broker PA- U S Spaces, Inc.
Real Estate Broker, CA Dept of Real Estate DRE#01507615
NJ Licensed Real Estate Salesperson- U S Spaces

U S Loans Mortgage LLC #51022
Licensed by the Commonwealth of PA Department of Banking,
Virginia State Corporations Commission, License #MC-4943, State of Florida
California licensed with Signet Mortgage, NMLS# 168365, DRE#01403423
Personal Virginia Mortgage License #MLO-523VA
NMLS Test Certified National License #133975 for live rates and online mortgage application
... more
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Mon Jan 28, 2013
Mon Jan 28, 2013
Brian Byhower answered:
Well, I'm glad to see he was legitimate. Do you other trivia you want to post?
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Sat Feb 2, 2013
Tai Savet answered:
Mon Jan 7, 2013
feefibobecca asked:
looking to buy a hud owned foreclosure.
selling for 33k. valued around 75-85k.
which means it would be a great turnover
for anyone if i were to default, which i'm not,
have an excellen...
0 votes 1 answer Share Flag
Mon Jan 21, 2013
Portfolio lenders typically have more stringent LTV guidelines than Fannie/Freddie. Do you have other assets (liquid or real estate) you can collateralize the property with?

I'd recommend you look into BofI Federal Bank (stands for Bank of Internet) & Advancial Credit Union.

Shane Milne | Lending in all 50 states | NMLS #81195
... more
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