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Financing in 91360 : Real Estate Advice

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  • Home Buying9
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Activity 3
Mon Apr 30, 2012
Barry Shapiro answered:
With the housing payment in the $18K/year range, this would be well more than 28% of their income -- actually closer to 50% of the household income. Your next step is to get PRE-APPROVED - So, a lender can best answer your specific question ... Hmmmm. Why would an agent submit an offer without a pre-approval? Good luck! ... more
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Sun Feb 12, 2012
Barry Shapiro answered:
This is an excellent question, Jr. As long as you make the FULL PAYMENTS on time, it doesn't matter who is on the loan. An acceleration clause in the loan contract "may"; state that the loan is due and payable upon death -- but we rarely hear about cases where the lender enforces it -- they just want to collect the contract payments/interest. Sometimes, properties in CA are transferred "subject to" the existing mortgage(s). So, READ your contract first and consult withan attorney to be sure what your specific obligation(s) will be. I hope this helps. And, good luck! ... more
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Tue Aug 18, 2009
Jacob Varghese answered:
I could answer your question in a better manner, if I know the loan amount, duration of the loan, the proposed interest rate with points and without points.

Prima facie, it is not a good idea if you plan to live for only 3 to 5 years. ... more
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