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San Diego : Real Estate Advice

  • All2K
  • Local Info150
  • Home Buying963
  • Home Selling105
  • Market Conditions78

Activity 1,713
Sun Mar 24, 2013
John Juarez answered:
Beginning April 1, 2013, most FHA-backed mortgages will be subject to an MIP (similar to PMI in other loan programs) increase of 10 basis points annually, or 0.10 percentage points. Simply put, that means that the monthly payment on an FHA loan will be somewhat higher that prior to this change.

Borrowers will still be able to get an FHA loan with as little as 3.5% down.

Another change of note is that FHA will no longer allow the cancellation of MIP when the loan balance has been reduced to 78% of the original balance. MIP on loans that start out at more than 90% of appraised value will remain for the life of the loan.
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Mon Oct 28, 2013
Cindy Davis answered:
It stalls it and sometimes stops it. When a low appraisal comes in, the seller and buy try to re-negotiate the purchase price If that fails to occur, the escrow will cancel. The seller will probably look for a cash buyer or hold off selling his/her home. ... more
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Sat Mar 23, 2013
Jonathan and Theresa Mack answered:
It all depends on the lender but in my experience 60-90 days is pretty common.

If you'd like the a recommendation for some lenders who have great rates and closing costs feel free to give me a call or shoot me an email!

Theresa Mack
Coldwell Banker
(858) 230-4850
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0 votes 7 answers Share Flag
Sat Mar 29, 2014
Wayne L. Brown answered:
In most cases, Yes, as long as it is disclosed. However, if you are doing an FHA loan, it is prohibited by HUD.

That said, some lenders frown on this, and as their own policy may not allow it.

Hope this helps.

Wayne L. Brown
Mortgage Banker
Security National Mortgage Company
NMLS # 343946
Company NMLS 3116
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0 votes 15 answers Share Flag
Fri Mar 22, 2013
Shannon Anderson answered:
if you are asking about buying a home, the answer is no. If you are asking about buying and not having MI, then you should talk to a lender, but my understanding is yes.
0 votes 15 answers Share Flag
Mon Mar 18, 2013
Jim Fishinger answered:
There would be numerous options for you, but I'd be better able to help if you contact me by phone or email. There are some important questions that when answered will allow me to present the best options for you and your situation. ... more
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Sun Mar 17, 2013
Monica & David Stone Team answered:
Hi Mary,

As it sounds like you already know, the temperatures throughout San Diego County can vary widely.

If you go to my website, and click on the "Lifestyle" tab along the top, you can search each neighborhood and view the average weather temperatures by month, average rainfall, and much more.

It also give you school district information, demographics, average income, and more.

Hope this helps.

By the way, I am the co-founder of Greater Good Realty. In addition to providing valuable information about the San Diego real estate market, my company donates 10% of our commissions to local charities and non-profit organizations throughout San Diego.

We hope to make a difference for those in our neighborhoods!

David Stone
Greater Good Realty

CA DRE#01888818
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Tue Mar 19, 2013
Patti Adams answered:
I think the biggest thing to look out for is keep the owner occupancy ratio of the entire complex above 70%. Lenders like it to be that high. If you go below that, then it is harder for owner buyers to buy in your complex and it becomes more and more investor owners and renter occupied.

So, take a look at the owner occupancy ratio now and go from there. Your HOA board should be able to tell you what it is. If you are a very small complex it is more important that if you are in a huge complex with a strong current ratio.
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0 votes 11 answers Share Flag
Thu Mar 14, 2013
Maureen Martin answered:
Unfortunately no. Some banks may allow for this, but it would be a HUGE exception. Typically banks want to see at least 1 pay stub before the close of escrow, often times 30 days worth. If you have an offer letter along with a verification of employment and salary, you could potentially continue along until the end when you provide your first pay stub. Best of luck! :) ... more
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Wed Sep 25, 2013
Krista Bell answered:
Hi there, Darryl,

I hate to give you such a political response here, but agents are not legally allowed to provide clients with information on the safety of neighborhoods (other than to say some neighborhoods are more desirable than others). I would be happy to send you some information on the 92110 community - it's an interesting zip code which houses part of Mission Hills, Point Loma and Bay Park/Bay Ho - and I do a lot of business in those areas.

Your best bet - to satisfy your own safety requirements - is to check out sites like Crimestoppers and Megan's Law, enter the address of the property, and decide for yourself whether you would be comfortable living in a particular area. Doing a drive-by of the property during different times of the day may also help.

Let me know if you have any other questions or if I may be of further assistance. Best of luck to you.

Warm regards,
Krista Bell, REALTOR
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Thu Mar 21, 2013
Gregorio Denny answered:
You should ask your loan officer how much it is to lower the rate 1/8th. You can always use it to buy the rate down. You may also be able to have it applied as a principal curtailment if structured properly. Most loan officers are not aware that his can be done and may tell you otherwise. A lender can only legally impound so much so prepaying taxes as impounds most likely is not an option. ... more
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Sat May 4, 2013
Lance King answered:
probably because they want to make sure that you will be able to afford the property including all costs, especially if you are looking at places with high HOA fees.
0 votes 24 answers Share Flag
Wed May 18, 2016
Rich Homer answered:
Engage a local Licensed Real Estate Broker by clicking "Find a Pro" in the header of this website.
0 votes 29 answers Share Flag
Tue Mar 12, 2013
Team Ernie & Jill answered:
Thanks Ginger,

I would be open to discussing this with you.

Jill Eastman
BrokerMagnus Realty Group Inc
Lic# 01824231
0 votes 14 answers Share Flag
Tue Mar 12, 2013
Jim Olive answered:
As with depends! There are different programs for people with different scores. You can have a really lousy score and still possibly find seller who will still offer you seller financing. The terms would not be very favorable if your score is low, but that's the price one pays for having a low score. A typical mortgage through a big bank will likely require 620 or better, but you would be best served talking to a mortgage broker or loan officer about your specific situation. Best of luck... ... more
0 votes 2 answers Share Flag
Mon Jul 1, 2013
Tony Grech answered:
Have you been in touch with your realtor or the title company? that would probably be the best first step, because yes as part of the title commitment they should have researched the taxes and any amounts due should have been paid so that you could take over clear title.

If neither your realtor or the title company can provide a solution then you should contact a real estate attorney
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0 votes 10 answers Share Flag
Mon Mar 11, 2013
Chris Gorno answered:
Hello Edwin~

The home is actively on the market for sale. I don't think that anyone would publicly answer that question here. I am just curious why you are asking. Is the person emailing you interested in purchasing the home? The home was purchased by an investor and has been completedly rehabbed/remodeled and is for sale. There is more than likely a for sale sign in the yard to contact the listing agent and get a message to the owner. ... more
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