Zillow Advice RSS: Question-Discussion-Guide,Mortgage Types,San Diego- CA http://www.zillow.com/advice/San-Diego-CA/mortgage-mortgage-types/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Any lender offering non-recourse loans for the purchase of investment properties for IRA? http://www.zillow.com/advice-thread/Any-lender-offering-non-recourse-loans-for-the-purchase-of-investment-properties-for-IRA/420466/ <p>Are there local&nbsp;lenders out there who offer non- recourse purchase loans? IRA owners who have funds in a self-directed IRA, Rollover IRA, Roth IRA, etc have the option of buying&nbsp; real estate/investment property with their self directed IRA funds. IRS require that&nbsp;the financing must be non-recourse loans with no personal guarantee other than the property as collateral. What are the&nbsp;typical rates, guidelines, and down payment required for non-recourse lending&nbsp;for&nbsp;IRA owners wishing to purchase investment real estate in California?&nbsp;</p><br \><br \>20 replies Mon, 24 Oct 2011 22:34:00 GMT http://www.zillow.com/advice-thread/Any-lender-offering-non-recourse-loans-for-the-purchase-of-investment-properties-for-IRA/420466/ 2011-10-24T22:34:00Z 10-15% down Jumbo portfolio loans in California? http://www.zillow.com/advice-thread/10-15-down-Jumbo-portfolio-loans-in-California/348723/ I am looking for a Jumbo loan on a purchase price of 1.1 million in California.&nbsp; 10-15% down, with 2-3 months reserves.&nbsp; Is anyone aware of banks that carry portfolio loans of this type?<br/><br/>Alternatively, is anyone doing attorney/professional jumbo loans with low down payments?&nbsp; Or could I do 25% of the loan amount over FHA in a VA loan?<br/><br/>Thanks!<br \><br \>21 replies Thu, 06 May 2010 11:28:00 GMT http://www.zillow.com/advice-thread/10-15-down-Jumbo-portfolio-loans-in-California/348723/ 2010-05-06T11:28:00Z Jumbo Loan with less than 20% down in San Diego? http://www.zillow.com/advice-thread/Jumbo-Loan-with-less-than-20-down-in-San-Diego/557014/ Does anyone know if it's possible to find a jumbo loan with less than 20% down in San Diego? &nbsp;I have excellent credit and over $400K in annual income. &nbsp;I'm targeting a $1.6MM purchase price.<br/><br/>Any advice is greatly appreciated.<br \><br \>13 replies Thu, 28 Aug 2014 19:58:00 GMT http://www.zillow.com/advice-thread/Jumbo-Loan-with-less-than-20-down-in-San-Diego/557014/ 2014-08-28T19:58:00Z Zero Down Jumbo http://www.zillow.com/advice-thread/Zero-Down-Jumbo/525855/ I have high income, excellent credit, but lost all equity during the recession. Are there any lenders offering 80/20 or similar loans for flawless credit, high income borrowers?<br \><br \>8 replies Sat, 25 Jan 2014 16:19:00 GMT http://www.zillow.com/advice-thread/Zero-Down-Jumbo/525855/ 2014-01-25T16:19:00Z Renovation Loans in San Diego Market http://www.zillow.com/advice-thread/Renovation-Loans-in-San-Diego-Market/473413/ Hi there..my wife and I are interested in buying a home in San Diego and are considering all options. &nbsp;One of those being fixers. &nbsp;I started doing a little research and came across Fannie Mae's HomeStyle &amp; FHA's 203k streamline. &nbsp;I thought it would be interesting to use that cash to get some immediate equity. &nbsp;<br/><br/>I was talking to a buddy in the mortgage business and he basically told me I don't have a shot at my offer getting accepted. &nbsp;That the market is now in recovery and that conventional offers or cash offers will eat my lunch. &nbsp;He said if I do find a property that accepts the offer, there is likely something very wrong with it, otherwise bigger money (ie - investors) would have already jumped on it by now.<br/><br/>I trust my friend, but I would love to hear from anyone else out there that has had experience with trying to use a&nbsp;renovation&nbsp;loan such as those above&nbsp;(good or bad).<br \><br \>5 replies Mon, 07 Jan 2013 06:25:00 GMT http://www.zillow.com/advice-thread/Renovation-Loans-in-San-Diego-Market/473413/ 2013-01-07T06:25:00Z buying a second home http://www.zillow.com/advice-thread/buying-a-second-home/460612/ I own a primary residence that is paid for.&nbsp; I want to buy my deceased moms home.<br/>The property is set up so that part of it is residential, and the other half is designed for an in-home business.&nbsp; I would like to utilize the in-home business for myself, and have my daughter be able to live in the residential part, and be part of the business.<br/>What type of mortgage should I try to get... investment ?<br \><br \>2 replies Wed, 19 Sep 2012 20:23:00 GMT http://www.zillow.com/advice-thread/buying-a-second-home/460612/ 2012-09-19T20:23:00Z Reverse Mortgage? http://www.zillow.com/advice-thread/Reverse-Mortgage/444866/ 2 replies Wed, 30 May 2012 21:07:00 GMT http://www.zillow.com/advice-thread/Reverse-Mortgage/444866/ 2012-05-30T21:07:00Z VA Home Loan Financing http://www.zillow.com/advice-thread/VA-Home-Loan-Financing/426533/ <p>VA <a href="http://www.zillow.com/mortgage-rates/">home loans</a> are not an option for everyone, and many of those who are eligible do not even realize that they are eligible. The VA <a href="http://www.zillow.com/mortgage-rates/">home loan</a> program was created in 1944 as one of the benefits offered to veterans in order to help them buy a home. Since its inception, the VA home loan program has helped more than 18 million veterans and active duty service members achieve home ownership. More than 67 years later, the VA home loan program remains one of the most progressive lending programs in the market.</p><p>Probably the most attractive benefit of the VA home loan program is that there is no down payment required. 100% of the home's appraised value can be financed with a VA loan. A second benefit is that while a conventional or FHA home loan would require <a href="http://www.zillow.com/mortgage/help/Private-Mortgage-Insurance.htm">mortgage insurance</a> if a 20% down payment is not made, a VA mortgage requires no mortgage insurance of any kind. And a third benefit of a VA home loan is that all closing costs are regulated by the VA to ensure that all VA-eligible borrowers are treated equally and fairly.</p><p>The requirements to obtain a VA home loan are also much more flexible than those of a conventional loan.Most approved VA lenders&nbsp; don't need to see perfect credit, which enables&nbsp;them to help many veterans who may not have otherwise been able to secure financing. VA loans also have lower income requirements than conventional loans and allow high debt-to-income ratios as well. In fact, about 80% of VA loan borrowers could not have qualified for a conventional loan. The VA home loan program is one of our nation's ways of saying "Thank You" to the millions of men and women who have served us so faithfully over so many years.</p><br \><br \>5 replies Thu, 22 Dec 2011 20:47:00 GMT http://www.zillow.com/advice-thread/VA-Home-Loan-Financing/426533/ 2011-12-22T20:47:00Z HUD announces PowerSaver, New Energy Retrofit Pilot Loan program http://www.zillow.com/advice-thread/HUD-announces-PowerSaver-New-Energy-Retrofit-Pilot-Loan-program/374671/ <p>HUD recently announced PowerSaver, a $25 million two year pilot energy retrofit loan program to select areas. PowerSaver is only applicable to single family homes.&nbsp; Borrowers are required to have a FICO score of 660 or higher and debt-to-income ratio cannot exceed 45%.&nbsp; Loans will be limited to a 15 year loan. &nbsp;<strong><em>The program is currently seeking lenders interested in participating in this pilot project.</em></strong> &nbsp;Interested lenders must be active FHA Title One lender.&nbsp; &nbsp;PowerSaver Loan will be similar to the FHA Title 1 home improvement loans.&nbsp; PowerSaver is specific to only energy retrofit improvements like air sealing, insulation, heating/cooling systems and water heaters. Homeowners can save thousands of dollars in leveraging these programs at the same time contributing to sustainability.&nbsp; "This is a timely solution for the emerging Energy Retrofit industry" said Will Johnson, Energy Auditor with Inspection Perfection.&nbsp; "This fills an important void of financing for anticipated Energy Retrofit rebates.&nbsp; 2011 will be the year for Energy Retrofits."</p><br \><br \>0 replies Fri, 12 Nov 2010 14:31:00 GMT http://www.zillow.com/advice-thread/HUD-announces-PowerSaver-New-Energy-Retrofit-Pilot-Loan-program/374671/ 2010-11-12T14:31:00Z for sale log home in san diego needs lender are their any lenders out their http://www.zillow.com/advice-thread/for-sale-log-home-in-san-diego-needs-lender-are-their-any-lenders-out-their/372077/ 9 replies Thu, 21 Oct 2010 04:14:00 GMT http://www.zillow.com/advice-thread/for-sale-log-home-in-san-diego-needs-lender-are-their-any-lenders-out-their/372077/ 2010-10-21T04:14:00Z Resurgence in 203K Construction Loans http://www.zillow.com/advice-thread/Resurgence-in-203K-Construction-Loans/365340/ Demand for 203K construction loans has exploded in the last several months.&nbsp;&nbsp; This is attributed to more clients are learning about the 203k program from lenders and realtors.&nbsp;&nbsp; In addition, Fixers and REO properties sales&nbsp; are more available.&nbsp;&nbsp; This could be attributed to overall increase in values may be squeezing some investors from flipping REOs compared to last year.&nbsp; Since it piggybacks on FHA loan, with low down payment (3.5%) and low interests rates, there is nothing close in financing costs.&nbsp; The program is not without some challenges.&nbsp; The process can be more complex involving contractors, and 203K consultant in addition to lenders, realtors and appraisers.&nbsp;&nbsp; Program has been around since the 60's, some of the provisions are out of date and vague.<strong>&nbsp;</strong> But mostly, there is a&nbsp; lack of recent experience with realtors and lenders.&nbsp;&nbsp;Active 203K consultants are a great resource.&nbsp; Their current experience can be beneficial, avoid costly pitfalls and&nbsp; help with resources of other experienced lenders &amp; contractors.&nbsp; To learn more about this 203K program, talk a local 203K consultant.&nbsp; <a rel="nofollow" href="https://entp.hud.gov/idapp/html/f17cnsltdata.cfm">Check HUDs website for consultants</a>.&nbsp;&nbsp;<br \><br \>2 replies Tue, 07 Sep 2010 15:10:00 GMT http://www.zillow.com/advice-thread/Resurgence-in-203K-Construction-Loans/365340/ 2010-09-07T15:10:00Z any non-owner renovation/rehab loans...simliar to FHA but non -owner? http://www.zillow.com/advice-thread/any-non-owner-renovation-rehab-loans-simliar-to-FHA-but-non-owner/345841/ 4 replies Tue, 20 Apr 2010 02:40:00 GMT http://www.zillow.com/advice-thread/any-non-owner-renovation-rehab-loans-simliar-to-FHA-but-non-owner/345841/ 2010-04-20T02:40:00Z Second Home or Investment Property? http://www.zillow.com/advice-thread/Second-Home-or-Investment-Property/241180/ I am a <a href="http://www.zillow.com/learnmore/what-zillow-offers-buyers.htm">first time home buyer</a>, but I am not sure if my situation would qualify as which? I plan to buy a place, which I may rent out to friends. I am not sure if I will stay at this property yet, since I am staying at home. <br/><br/>If I rent out the property and I do not stay there, but I pay for the HOA and other associated fee. Can I consider this property as Primary Residence? Since it would be my only property which I own?<br/><br/>Or if I stay there ~1 month a year, do I consider this property as Second Home or Investment Property?<br/><br/>Thank you,<br/>James<br \><br \>2 replies Sun, 31 May 2009 20:30:00 GMT http://www.zillow.com/advice-thread/Second-Home-or-Investment-Property/241180/ 2009-05-31T20:30:00Z CALPERS or Bridge Loan $729,000 http://www.zillow.com/advice-thread/CALPERS-or-Bridge-Loan-729-000/330574/ &nbsp; <div>My Husband and I are considering purchasing a home in San Diego $1.3m.<br/>It needs ALOT of cosmo type work but once fixed up would be a great investment.<br/>I have heard of Calpers <a href="http://www.zillow.com/mortgage/">loans</a>. Would this be an option for us at this level? Or would a Bridge Loan</div><div>work to get the home purchased and work done?</div><div>What kind of rates should we expect for Calpers and Bridge Loan?</div><div>We have cash to put down but would rather leave it in savings.</div><div>Credit is 800 and we have good income to qualify. Thank you</div><br \><br \>3 replies Thu, 04 Mar 2010 01:56:00 GMT http://www.zillow.com/advice-thread/CALPERS-or-Bridge-Loan-729-000/330574/ 2010-03-04T01:56:00Z Can i get a loan http://www.zillow.com/advice-thread/Can-i-get-a-loan/304852/ I need help.&nbsp; I bought a single family property in La Jolla which appriased for 1.05mil in September 2009.&nbsp; I paid that property all cash since i couldn't get the <a href="http://www.zillow.com/mortgage/">loan</a> on time.&nbsp; Now, i would like to get another Condo which should be around $200k, but i would want to get a loan to buy the condo.&nbsp; I can downpayment 10% of the $200k.<br/><br/>I am working outside of the USA and i am getting paid by cash.&nbsp; Is it possible for me to get a mortage loan or <a href="http://www.zillow.com/refinance/">refinance</a> my single family property?&nbsp; Can anyone help me?<br/><br \><br \>3 replies Tue, 08 Dec 2009 02:33:00 GMT http://www.zillow.com/advice-thread/Can-i-get-a-loan/304852/ 2009-12-08T02:33:00Z FHA vs Conventional http://www.zillow.com/advice-thread/FHA-vs-Conventional/282324/ <p>My fiance are shopping around for homes right now in San Diego.&nbsp; Aside from the sticker shock (we moved here from the Midwest), we're really enjoying it, but the financing options are making my head spin.&nbsp; Perhaps you can help.<br/><br/>Our "mortgage planner"&nbsp;(to whom we have no obligation)&nbsp;thinks&nbsp;we should go with an <a href="http://www.zillow.com/fha-loan/">FHA loan</a> because of the low required down payment.&nbsp; I'm skeptical because of the nasty UFMIP numbers and the monthly MIP numbers.&nbsp; I don't see why we would do that when we can afford at least 10% down (currently in cash) and we have good credit.&nbsp; We could even&nbsp;afford 20% down, but that would require some liquidation of lots of my stocks/mutual funds/ETFs.&nbsp; Both of us have good FICO scores (770s and 730s). The <a href="http://www.zillow.com/mortgage/">mortgage</a> planner says that I should keep my investments so we can have the low down payment and keep the option to "streamline" later on.<br/><br/>I see three main avenues here, and would like to know which makes most sense:<br/>1.&nbsp; Go with the FHA Loan<br/>2.&nbsp; Sell enough assets to get a 20% down payment together and avoid PMI.<br/>3.&nbsp; Doing some sort of "piggyback" loan (like an 80/10/10).<br/><br/>A few other considerations:<br/>-My fiance is an MD, which qualifies us for a "Physicians Loan."&nbsp; Those offer some preferential treatment.<br/>-We're leaning toward doing a <a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/">5/1 ARM</a>, since we will probably want to upgrade when my fiance finishes residency (meaning big pay bump).</p><br \><br \>8 replies Fri, 25 Sep 2009 19:39:00 GMT http://www.zillow.com/advice-thread/FHA-vs-Conventional/282324/ 2009-09-25T19:39:00Z home equity fha loan (can i get one) http://www.zillow.com/advice-thread/home-equity-fha-loan-can-i-get-one/258816/ I bought my home in December of 2008 for $786,000 with my <a href="http://www.zillow.com/mortgage/">loan</a> at $704000. The Zillow home value is at $866,000. Can i get a <a href="http://www.zillow.com/home-equity-loan/">home equity loan</a> through <a href="http://www.zillow.com/fha-loan/">fha</a> again or anywhere else? My credit score is aroudn 640 to 650. (San diego, California)<br \><br \>1 reply Tue, 21 Jul 2009 17:20:00 GMT http://www.zillow.com/advice-thread/home-equity-fha-loan-can-i-get-one/258816/ 2009-07-21T17:20:00Z I live in California, I have a $540,000 loan-is this now considered a Conforming Jumbo? http://www.zillow.com/advice-thread/I-live-in-California-I-have-a-540-000-loan-is-this-now-considered-a-Conforming-Jumbo/185507/ 5 replies Tue, 06 Jan 2009 19:38:00 GMT http://www.zillow.com/advice-thread/I-live-in-California-I-have-a-540-000-loan-is-this-now-considered-a-Conforming-Jumbo/185507/ 2009-01-06T19:38:00Z Is there a specific area that specializes in quotes for VA loans on Zillow? http://www.zillow.com/advice-thread/Is-there-a-specific-area-that-specializes-in-quotes-for-VA-loans-on-Zillow/235871/ I'm looking for a <a href="http://www.zillow.com/directory/lenders/">lender</a> that specializes in VA <a href="http://www.zillow.com/mortgage/">loans</a> and want to get some <a href="http://www.zillow.com/mortgage/">loan</a> quotes. Thank you.<br \><br \>3 replies Sun, 17 May 2009 17:25:00 GMT http://www.zillow.com/advice-thread/Is-there-a-specific-area-that-specializes-in-quotes-for-VA-loans-on-Zillow/235871/ 2009-05-17T17:25:00Z I want to borrow against a condo that I own free and clear. What is my best bet? http://www.zillow.com/advice-thread/I-want-to-borrow-against-a-condo-that-I-own-free-and-clear-What-is-my-best-bet/179020/ My wife and I are planning on purchasing a home in San Diego within the next 6 months.&nbsp; Currently, we own a condo free and clear in Boston that is rented out full time.&nbsp; In order to put a down payment on the house in San Diego, we would like to borrow against the Boston condo. I have several questions regarding this situation:<br/><br/>1) My thinking is that we should first secure the <a href="http://www.zillow.com/mortgage/">loan</a> against the Boston place, so we have the cash ready to go at any time.&nbsp; Would this be a prudent course of action?<br/>2) When shopping for loans, would the loan on the Boston condo be considered a <a href="http://www.zillow.com/refinance/">refinance loan</a> or a purchase loan?<br/>3) Also, would we be best served by obtaining both <a href="http://www.zillow.com/mortgage/">loans</a> through a single lender or should we get them from different lenders?<br/><br/>Any insight you could provide would be helpful.&nbsp; Thanks for your help!<br \><br \>2 replies Fri, 19 Dec 2008 00:32:00 GMT http://www.zillow.com/advice-thread/I-want-to-borrow-against-a-condo-that-I-own-free-and-clear-What-is-my-best-bet/179020/ 2008-12-19T00:32:00Z