Are any of you from CA?
Really Susan, Brokers and Bankers charge origination fees. Interest rates will either cost discount points or provide you a credit. In all cases you should, as any consumer should do, gather competitive imformation from another broker or Banker. Simply asking a question that lacks details on this...

Who should recommend the appraiser?
You heard the rules now let me ask you a question. How can you be certain that your appraiser will give you a high value. In general appraiser are looking at the same data, have an understanding of the neighbor characteristics and usually value properties with a pretty narrow window. The appraisers...

who has the best 30 year fixed loan?
Kami, There are alot of 30 year fixed rate loans. There are conventional conforming and high balance loans, VA loans to 1 million dollars, FHA conforming and high balance, usda, and some entities have specialty loans to 5 million dollars. Your situation and whether or not you are looking for a purchase...

Can we negotiate a discount on closing fees or get a free mortgage appraisal
Jamila, If the question is does it have to come out of your pocket the answer is No it does not have to come out of your pocket. Many people may tell you that there are discounts or free but as these other fine lenders have stated, If you are in a real estate transaction someone will pay the third party costs. ...

Will the lender check my wife's credit even though shes not on mortgage?
Obviously there is a difference of opinion here. The real answer is that depending on the loan type a lender will need to pull your wifes credit. But what is the lender doing? The lender is looking for your wifes debts not her fico score! If you qualify with her debt then pulling her credit will not impact...

Is it true that for fha 15 year mortgage you do not have to pay mortgage insurance for 5 years?
The answers listed here are all accurate. The 5 year rule was the rule. All of the lenders responding here are educated and up-to-date on FHA Lending. THAT leads to the question of where you read or who told you about the old rule. Do yourself a favor and rely on a professionals that have answered your...

is there a minimum income requirement for obtaining a jumbo loan?
There are asset based loans that will derive a income equivalent from liquid assets. There are also loans specifically designed for individuals that are self employed and have significant writeoffs. So as always the answer to your question is that it depends on your specific situation. David...

What type of physician loan programs exist in Ca?
Alan, Standard loan programs are available to Physicians. The programs differ depending on the type of employment a physician has. The only difference is that new physicians are able to finance a property right out of school. For more information you can reach me at 714-227-5087David Schwartz, Sr...

when can you buy a house after a deed in lieu?
Paul, Depending on the type of loan and your personal situation the answer to your question is either 1 year, 2 years, 3 years, 4 years, or 7 years. The key to your answer is you and your very own personal situation and desires. Speak with one of the mortgage professional on this site for an answer that fits...

Is it advisable to refinance in order to get rid of PMI insurance fee?
No Probably not. But it is really a numbers questions. Without knowing when you got your loan, how many years you are into it, what your interest rate is, what your annual mortgage insurance factor is, and if you are able to request the removal of mortgage insurance after 5 years once you have reach...

How much LTV do I need to refinance?
Yes you can do a refinance with a va irrrl with a 90% or higher ltv.David SchwartzBanc Home Loans714-227-5087

are there any zero down FHA loan programs available to teachers?
Dale there are currently NO FHA zero down programs that are available. CalHFA had a program that has been suspended. There are 2 ways to accomplish your goals. First there is a Calhfa conventional program that combines both the CalPlus, ZIP and ECTP (extra credit teacher program) . Second the CHDAP by it...

Can I get a purchase loan with FICO score of 615
A score of 615 does not disqualify you for a FHA loan. You do need to talk to a lender that understands and does FHA loans well. While the score isn't a problem the issues behind the score may be. For Help understand what it will take to purchase a home with this fico of 615. You can call me. David Schwartz...

Judgement on credit report
You really have NOT received good advise on building your household credit. i'll make some assumptions which most likely correct. You read some things on the internet but haven't followed through with everything. You need to sit down with a mortgage professional that understands credit and...

Can I get VA loan 3 years out of military
Honorable discharge, of course you can. 100% financing for you up to $417,000 in Butte county. Over that just $.25 per dollar. You can reach me David Schwartz, Banc Home Loans a division of Banc of Califonia at 714-227-5087. I am a purchase specialist. My team and I would love to help you.

Duplex loan available through VA?
That is an easy answer. Yes. Team has been a purchase lender in the southland since 1969. We are happy to help. I can be reached at 714-227-5087, David Schwartz.

Are the rates for first time buyers usually higher?
The Real Answer is NO. all of the other variables that the rest of these answers are talking about are details of the transaction. First Time buyer or not. the rates are the same. If you would like to be educated along the way and know enough to make the approriate decision about the loan you get for yourself. ...

3% down payment loan.
Special programs run by the state allow a 3% conventional loan. For additional information on these and other programs that allow the borrower to bring in as little as 0% even if your not military please call me at 714-227-5087. David Schwartz, Banc Home Loans.

When do the new FHA premiums go into effect?
The lower MMI went into effect TODAY. The average Homeowner with an fha Mortgage in california will be able to reduce the MMI by $200. But be careful . For those homeowners that receive down payment assistance such as CalHFA's CHDAP, these amount most often require that they are paid back at the time of a...

Phil
Phil if you have a question about financing residential property in California please feel free to contact me. David SchwartzSr. Loan Officer 714-460-4386