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FHA MORTGAGE LOANS - EASY TO QUALIFY - EASY TO AFFORD English/Spanish

11/19/09 Burbank Realtor & FHA Mortgage Loan Consultant, Lupe Soto, Bilingual Realtor (spanish/english) DRE # 01380599 serving Burbank, San Fernando Valley, Antelope Valley, Los Angeles County, Southern California, Please contact Lupe Soto at (818)968-3718 o via email to: Lupe@HomesWithLupe.com. LUPE HABLA ESPANOL

BUYERS FIRST STEP TO HOMEOWNERSHIP, BE PRE-APPROVED, learn more
It is important for you to know your price range. If you are just looking around and searching the internet, that's fine. But if you are serious about buying a home and would like to schedule showings with a Realtor, then you need to get pre-approved before shopping.
You need to know how much you can afford...
We are not giving you any pressure. We are here to help you.
Getting pre-approved is actually a very simple process

LOAN APPLICATION FORM, click here

APLICACION PARA PRESTAMO EN ESPANOL, haga click aqui

CONTACT LUPE, click here

SI USTED O ALGUIEN QUE USTED CONOCE NECESITA AYUDA PARA PARAR EL FORECLOSURE
REGISTRESE CON NACA.com y luego
REGISTRESE PROXIMO SEMINARIO CON NACA haga click aqui y luego seleccione "Stage 1" "click here for workshop"

SI SU BANCO NO LE HA APROBADO LA MODIFICACION DEL PRESTAMO, USTED TIENE OPCIONES
VENTA CORTA DE SU CASA AUN ASI QUE EL BALANCE SEA MAS DEL VALOR DE LA CASA
CONSULTA GRATIS - SIN COSTO ALGUNO PARA USTED !
www.ShortSaleWithLupe.com

$8,000 TAX CREDIT FOR FIRST TIME BUYERS STILL AVAILABLE UNTIL 12/01/09

My sucess as a Burbank & San Fernando Valley Realtor and FHA Mortgage Loan consultant has come in large measure from a relentless commitment to providing you with the finest real estate services in Burbank, San Fernando Valley, Santa Clarita Valley & Antelope Valley in Los Angeles County, California.

With years of experience and state of the art real estate services, mortgage planning and processing software. Lupe provides you with the information and advice to help you make the right decision. Now more than ever you need a mortgage broker and Realtor not a banker. My business is built entirely upon referrals. Please feel free to offer my servies to your friends. co-workers and family in need of professional real estate services. Simply forward this article to them, they can take advantage of all of the services I provide.

Owning a home is a keystone of wealth...both financial affluence and emotional security.

Every day. you will have opportunities to take chances and to work outside your safety net. Sure, it's a lot easier to stay in your comfort zone. But sometimes you have to take risks. When the risks pay off, that's when you reap the biggest rewards. Think about this and have a great day!

www.HomesWithLupe.com

www.CasasConLupe.com

Below you will find general information regarding home loans with FHA, please do not hesitate to CONTACT LUPE

LOAN PAYMENT SCENARIOS BY SALES PRICE to be used as reference, please contact Lupe Soto by phone or via email: Lupe@HomesWithLupe.com

Estimated interest rate (subject to change) 5.5% APR 5.875%, FHA fixed 30 years, 3.5% downpayment, min fico score 620, this is not a commitment to lend, please use it as a reference, rates are subject to change until you have an accepted offer. If you are considering buying a condo or townhouse, please add HOA fee (usually $150 to $250 per month) and delete fire insurance which is included in the HOA fee. Please contact Lupe anytime with any questions @ (818)968-3718 or via email to: Lupe@HomesWithLupe.com

SALES PRICE - What would be my payment? see below examples, this is not a loan commitment.

$60,000, loan payment $340 PI, $62 tax, $35 fire ins, $25 mtg ins = $462 pago incluido PITI

$90,000, loan payment $511 PI, $94 tax, $35 fire in, $38 mtg ins = $678 pago PITI

$120,000, loan payment $681 PI, $125 tax, $35 fire ins, $50 mtg ins = $891 pago PITI

$150,000, loan payment $851 PI, $156 tax, $35 fire ins, $62.50 mtg ins = $1,105 pago PITI

$180,000, loan payment $1,022 PI, $188 tax, $35 fire ins, $75 mtg ins = $1,320 pago PITI

$210,000, loan payment $1,192 PI, $219 tax, $35 fire ins, $88 mt ins = $1,534 pago PITI

$240,000, loan payment $1,362 PI, $250 tax, $35 fire ins, $100 mtg ins = $1,648 pago PITI

$270,000, loan payment $1,533 PI, $281 tax, $35 fire ins, $112 mtg ins = $1,961 pago PITI

$300,000, loan payment $1,793 PI, $312 tax, $35 fire ins, $125 mtg ins = $2,265 pago PITI

EASY TO QUALIFY - Facil de calificar - How to qualify? What are the general requirements? see below

Low Interest rate 5.5% (APR 5.875 % APR with approved credit) for a 30-year fixed loan, this is just an example
Minimum down payment is 3.5%, can be a gift from your family or your employer
Fixed rate and Adjustable rate programs are available , buy down interest rate available
Minimun fico score is 620, minimum 3 lines of credit 2 years old
Borrower must provide full documentation paystubs, W-2s, 1099 and tax returns
No reserve requirement for single family residence, condos or townhouses.
Seller contribution is ok up to 6%, seller can pay for all your closing costs
Co-signers are Ok on houses, condos, townhouses. Easy to qualify.
No need to be first time buyer, you can own another home, as long as the new FHA loan will be occupied by you.
Collections account under $500 and older than 24 months may not need to be paid

Bankruptcy is ok after 24 months from discharge date
Foreclosure is ok after 36 months from foreclosure proceedings

FHA LOAN LIMITS EFFECTIVE 2009

$625,500 one unit limit - house, condo, townhouse or PUD
$800,775 two unit limit - duplex or two houses on a lot
$967,950 three unit limit - triplex or three houses on a lot
$1,202,925 four unit limit - fourplex or four houses on a lot

WHY FHA LOANS ARE GOOD FOR BUYERS?

There is low mortgage insurance or PMI at 0.5% point per month plus 1.5% points up front which is deductible from your taxes during the year that you buy
The property must meet strict appraisal requirements, property must be in move in conditions NO FIXER UPPERS, renovations must be built up to code. if the property you are interested has a bonus room without permit, ask your Realtor or appraiser before writing an offer.
The appraiser must be FHA-approved appraiser
The property must have a useable garage, no garage conversions.
The property cannot have code violations, illegal additions or bonus rooms with no permits.
The property must have hot water, sanitary facilities and a safe method of sewage disposal. Connection to public systems is required if available.
Heating systems must be operable for healthful and comfortable living conditions.
Condo projects must be pre-approved; they can be spot-approved but this is much more difficult. New condos built after 2000 the association must be approved as FHA. Ask your Realtor
Condo projects must have sufficient reserve funds.

ELIGIBLE PROPERTIES WITH FHA LOANS - Lo que puede comprar

Houses, Condos, Townhouses, Planned Urban Developments (PUDs), Approved Condos, Double-wide manufactured homes are all considered to be eligible. Special eligibility requirements for certain properties are listed below.

Duplex, Triplex & Fourplex Unit Properties: The 3-4 Unit Property must be self-sufficient. The net rental income must be equal to or greater than the monthly mortgage payment. The net rental income is the appraiser's estimate for vacancies or the vacancy factor used by the jurisdictional HOC, whichever is greater.

Borrowers must still qualify for the mortgage based on income, credit, cash to close, and projected rents received from the remaining units.

Borrowers must have reserves equivalent to three months of PITI mortgage payments for 3-4 Units. These reserves can not be gifted and must be the borrowers own funds.

NOT ELIGIBLE PROPERTIES - Propiedades no elegibles

If the re-sale date is 90 days or less following acquisition by the seller, the property is not eligible for an FHA mortgage.

Co-ops are ineligible - Propiedades Co-Ops o cooperativas NO son elegibles

Commercial properties, boarding houses, hotels and motels, tourist homes, private clubs, sanitariums, and fraternity or sorority houses are also NOT eligible.

FHA CREDIT GUIDELINES - Requisitos de credito

Credit scores must meet certain guidelines for all FHA mortgages except for streamline refinances that do not require any credit check. Generally credit scores must be in the following range:

620 minimum credit score with most approved FHA lenders. Some lenders will consider less than 620 with a higher interest rate.

Certain circumstances will allow FHA to be forgiving and may allow credit scores that are lower if certain compensating factors are meet such as large retirement savings, higher then expected income, or more of a down payment.

If your credit score falls within or below the 620 range you owe it to yourself to start rebuilding good credit, get access to your FREE ANNUAL CREDIT REPORT OR visit www.myfico.com and buy a standard report & fico score for $15.95, learn how to raise your fico score, dispute any derogatories in your credit report, feel free to CONTACT LUPE with any questions.

CREDIT HISTORY - Historia de Credito

Non-Traditional Credit is acceptable if the borrower does not have any prior credit history or if the length of credit history is too short to qualify. To qualify for a loan with non tratidional credit, you would need at least (3) three letters from any repeated monthly obligation such as rent, utilities, store accounts, cell phone accounts, auto insurance, and/or any other acceptable sources. Make sure to let Lupe Soto, FHA Expert & Realtor know about your current credit situation to avoid any mishaps in the processing of your mortgage.

DEROGATORIES IN YOUR CREDIT REPORT

Judgments: Court ordered judgments must be paid completely, unless the borrower has been making regular and timely payments and the creditor is willing to subordinate that judgment to the new insured mortgage. The borrower must provide a satisfactory written explanation.

Collections: Handled on a case by case basis. If collection is more than $500, it will usually need to be paid at close of escrow. Call/email Lupe for more details.

Bankruptcy OK - Bancarrota OK: Chapter 7 requires a minimum two-year lapse period since discharge date; minimum one-year lapse period may be acceptable if bankruptcy was caused by extenuating circumstances that are not likely to recur the reason can not be debt caused by uneducated choices. Only extenuating circumstances will be considered and only after one year has passed. In all cases the borrower must have re-established credit and must demonstrate the ability to manage financial affairs.

Chapter 13 is permitted if a one-year payout period has elapsed and performance has been satisfactory. The borrower must receive court approval to enter into the mortgage transaction.

Foreclosures - Reposeciones de Casas - Require a minimum of 3-5 years since the completion of the action and the borrower must have re-established good credit.

Delinquency or Default on Federal Debt: If the borrower is presently delinquent on any federal debt or is obligated on any type of federal lien, he or she is not eligible for an FHA loan until the delinquent account is brought current, paid, or otherwise satisfied, or a satisfactory repayment plan is made between the borrower and the federal agency owed and is verified in writing.

REALTOR EN ESPANOL, como puedo ayudarlo?

LISTA DE CASAS - TODOS LOS PRECIOS - TODAS LAS AREAS

COMO CALIFICAR PARA EL PRESTAMO PRIMEROS COMPRADORES FHA

Si usted tiene 2 anos de empleo estable y verificable, si califica, si usted ha hecho sus income taxes por los dos ultimos anos y tiene ingresos de mas de $25,000 al ano, si califica, si usted tiene 1-2 tarjetas de credito, un prestamo de muebleria, prestamo de auto y no tiene colecciones recientes, si califica. Si usted tiene el dinero para la cuota inicial o el enganche, usted esta listo para que le ayudemos con la pre-aprobacion de su prestamo. Co-signers o garantes pueden ayudarlo a aplicar para un prestamo mas grande. Los co-signers deberan ser primeros compradores de preferencia, llame si tiene alguna pregunta. la consulta es gratis!

Lupe Soto (818) 968 -3718
Realtor en Espanol
www.CasasConLupe.com
www.PrestamosConLupe.com

PRESTAMOS HIPOTECARIOS FACIL DE CALIFICAR - POCO ENGANCHE

El exito que tengo como Realtor en Espanol en Los Angeles Caifornia & Consultora de Prestamos Hipotecarios FHA, conventional a primeros compradores o inversionistas en espanol, national or internacional, me permite ofrecerle el mejor servicio de representacion en la compra y guiarlo en todo el proceso de compra y el tramite de su prestamo aun asi que usted tenga su banco de preferencia, una segunda opinion es imporante ya que los gastos de papeleo varian de banco a banco. Lupe le ofrecere una opcion con calculos de pagos por escrito y con gastos estimados de gastos de papeleo para que usted compare. Mi meta es su completa satisfaccion. Ofresco la completa satisfaccion de una representacion profesional, etica y una relacion de negocios de compra/venta de por vida. La mayoria de mis clientes me recomiendan con sus amistades y familiares. Garantizado!. Llame y haga una cita con Lupe o si tiene alguna pregunta, su llamada es bienvenida. Para un mejor servicio envie un email a Lupe y le prometo contestarle pronto. CONTACTE A LUPE AQUI

Si usted esta rentando y pagan do mas de $1,000 al mes, usted tiene opciones y deberia saber que comprar una casa o condo no esta al alcance de todos. Le envio un ejemplo de los pagos de prestamos fijos con FHA para que se de cuenta que valdria la pena reunirse conmigo y ayudarle a clinical. Si tiene trabajo estable minimo de 2 anos, tiene ingresos de mas de $25,000 al ano y usted hace sus taxes, y tiene poco credito, llameme para hacer una cita o para contestarle su pregunta. Felices Fiestas

APLICACION DE PRESTAMO, FACIL DE LLENAR, haga click aqui

CUANTO QUEDARIAN LOS PAGOS.

PRECIO DE COMPRA - cuanto son los pagos?