2406 Wildwood Court – Great Fullerton Home for Sale

by Tim Storm on June 10, 2011

Here is another great property for sale in Fullerton. 2406 Wildwood, Fullerton, is listed by Bette Boren with Tarbell Realtors. This is a great pool home with views of the hills

Enjoy the panoramic views from living room, kitchen, dining room, master suite and backyard. Perfect for entertaining with a pool, spa & large redwood deck with a fire pit that features the best views of the house. This lovely home has a wonderful open floor plan with cathedral ceilings & lots of natural light which boasts oversized living & family rooms, huge master suite, formal dining room, and a large kitchen with breakfast nook. Updated and well maintained with newer custom paint, newer dual paned windows throughout, hardwood floors, travertine fireplace, computer niche, window treatments, and recently remodeled bathroom. There is STORAGE GALORE with custom 15 ft. indoor storage closet and finished pull down attic storage. Low maintenance front yard and inviting entryway with a fountain and sitting area. There are two association tennis courts and the large grassy common area at the end of the cul-de-sac is perfect for parties. Walking distance from The Summit House Restaurant and Craig Regional Park. Come watch the city lights glisten and enjoy the view!

Video of Fullerton home for Sale – 2406 Wildwood Ct.

For a detailed website with more information on this 2406 Wildwood Court in Fullerton, Click Here.

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Placentia FHA Approved Condo’s Need Recertification

by Tim Storm on November 13, 2010

Most condo projects in Placentia that are approved for FHA financing are going to need recertification after December 7, 2010. That is the date that any condo projects that haven’t been newly approved in 2010 will need to either be recertified and fully approved.

Condo FHA Recertification or Full Approval- Which is it?

If the condo project was initially approved prior to January 1, 2000, then a full project approval is required. If the condo project was initially approved on or after January 1, 2000, then the project is eligible for the recertification process. Projects may be recertified beginning 6 months prior to the approval expiration or within 6 months after the approval expiration date. If the project is not recertified within 6 months of the expiration date, then the project will need to be fully approved by FHA.

Why FHA Approval is Important for Condo Projects in Placentia, CA

FHA financing is the primary loan type for first time home buyers in Placentia. FHA only requires 3.5% down payment, and qualifying is flexible compared to most other types of financing. Quite often first time buyers are in the market for a condominium. But not all Placentia condo projects are FHA approved. As a matter of fact, quite a few are not. The condo projects that are FHA approved have a much better chance of maintaining a higher sales value since more Placentia home buyers are able to get financing to purchase these homes. Maintaining FHA (and VA) project approval is important if a condo project is to maintain property values.

How to Recertify an Placentia Condo Project

The recertification package may be submitted by a Placentia FHA Lender, builder/developer, Homeowners Association, Management Company or Attorney or Project Consultant who submits on behalf of one of the previously mentioned parties. Recertification packages cannot be submitted by borrowers, sellers, and/or real estate agents. The easiest way is to have the Condo Management Company proactively submit the package rather than wait until FHA Recertification is needed to close a transaction. Click the link to see the Orange County Condo Recertification Checklist.

Authored by Tim Storm, an Placentia, CA  FHA Loan Officer – Please contact my office at Trust One Mortgage Corporation for more information about an Placentia, CA home loan.  877-786-4243 x 7.

www.OCFHALoans.com

Contact us for your Placentia FHA Mortgage:

Call our office today and see how we can help you and your family. 877.786.4243 x 7 | tstorm (at) ochomebuyerloans.com *Trust One Mortgage Corporation is licensed and supervised by the California Department of Real Estate (“DRE”), License # 01087829

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Job Gap is Okay on FHA Loan for Placentia Home Buyers

by Tim Storm on October 28, 2010

FHA typically requires a two year employment history, but job gaps are not an automatic deal killer. FHA guidelines are actually fairly flexible regarding job gaps. The job gap will need to be documented and certain conditions need to be met, but don’t let a job gap keep you from buying a home.

Placentia, CA FHA Borrowers Returning to Work After Job Gap

An Placentia FHA borrowers income may be considered effective and stable when recently returning to work after an extended absence if he or she

  • is employed in the current job for six months or longer, and
  • can document a two year work history prior to an absence from employment using a lender issued Verification of Employment or copies of W2′s or paystubs.

An extended absence is considered to be more than six months. A Placentia FHA borrower may have been out of work a year, and if they’re able to verify a two year work history prior to the beginning of their “gap”, and have been on the new job for six months, they are ready to go.

Reasons for Job Gap

There are many reasons why someone may have been out of work for more than six months. For example, an acceptable situation includes individuals who took several years off from employment to raise children and then returned to the work force. Of course, lately is has not been unusual for a borrower to be laid off and then take several months or even more than a year to find a new job.

After a gap, it will be difficult to use income received beyond the “base” income. FHA underwriters typically need to see a 24 months average of overtime, bonuses, or commission income in order to use the additional income in calculating the debt to income ratios.

The first step in an Placentia FHA borrowers should take in the home buying process is talk with an experienced Placentia FHA Direct Loan Officer.  An experienced FHA loan officer should be able to quickly answer questions and help in getting the Placentia home buyer PreApproved for an FHA loan.

Authored by Tim Storm, an Placentia, CA Loan Officer with 20 year experience– Please contact my office at Trust One Mortgage Corporation for more information about an Orange County, CA home loan. 877-786-4243 x 7.

www.OCFHALoans.com

Call our office today and see how we can help you and your family.

877.786.4243 x 7 | tstorm (at) ochomebuyerloans.com

*Trust One Mortgage Corporation is licensed and supervised by the California Department of Real Estate (“DRE”), License # 01087829

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1626 Sierra Bonita Dr – Video of Placentia Home for Sale

by Tim Storm on October 28, 2010

Here is another great property for sale in Placentia, CA. This home, listed by Bette Boren with Tarbell Realtors, is priced at $499,900 and is a single level home.

Purchase This Placentia Home With an FHA Loan, Only 3.5% Down!

What many people still don’t realize is that you don’t need a 20% down payment to purchase a home. There are a lot of very qualified home buyers who don’t have $100,000 save up for a down payment. FHA only requires 3.5% down. On a $500,000 home, the down payment would only be $17,500. Plus, FHA offers very low 30 year fixed rates. Even some buyers with $100,000 in the bank may want to go with an FHA loan and keep $80,000 in reserves.

Try a VA Loan on This Property. $0 Down!

For those Orange County Veterans who are eligible for a VA loan, the Orange County 100% financing limit is $593,750. This property could be bought with $0 down payment. And again, VA offers low 30 year fixed rates, plus has no monthly mortgage insurance.

Below is a video of the property.

Authored by Tim Storm, a Placentia, CA Loan Officer – Please contact my office at Trust One Mortgage  for more information about a Placentia, CA home loan.  877-786-4243 x 7.

www.OCFHALoans.com

Contact me for your Placentia FHA Mortgage:

Call our office today and see how we can help you and your family. Ask for your Free First Time Home Buyer Report.

877.786.4243 x 7 | tstorm (at) ochomebuyerloans.com

*Trust One Mortgage Corporation is licensed and supervised by the California Department of Real Estate (“DRE”), License # 01087829

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1627 Tuffree Blvd, Placentia | Home For Sale

August 29, 2010
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Sources of Down Payment for FHA Financing of a Placentia Home

April 3, 2010

The source of a down payment is very important for First Time Buyers purchasing a home in Placentia, CA. It is actually very important for any type of mortgage in 2010. Lenders want to make sure the down payment is not borrowed, especially from a credit card. Providing proper asset documentation and the actual source [...]

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Great Placentia Home For Sale. FHA and VA Financing is Possible!

March 21, 2010

Another great Placentia home for sale, located at 454 Livingston Avenue, Placentia, CA. This property is listed by Bette Boren with Tarbell Realtors.  At a price of $549,000, this property is a great buy for either a Orange County first time home buyer or a move up buyer. Sitting on a huge lot of approximately [...]

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Home for Sale in Placentia. FHA and VA financing Available!

February 5, 2010

Another great property for sale in Placentia! FHA Financing is available on this property. This property is also available for 100% financing for the Orange County buyers eligible for a VA loan. Not all properties are eligible for FHA and VA financing, but this one is. Listed by Bette Boren, on of the top Placentia [...]

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FHA Will Be The Loan of Choice for Placentia Home Buyers in 2010

January 13, 2010

FHA will be the loan of choice for most Placentia home buyers in 2010. In 2009, over 30% of all loans were FHA. The rest were a combination of cash buyers, Orange County VA home buyers, Fannie Mae and Freddie Mac. There are several reason why 2010 will be another big year for the FHA [...]

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What Placentia First Time Home Buyers Need to Know About the Process of Getting an FHA Loan

November 22, 2009

__________________________________________________________________________ >>Placentia FHA Mortgage Application __________________________________________________________________________ As a Loan Officer working with a Direct Endorsed FHA lender serving Placentia, CA, I know how important it is to educate Placentia First Time Buyers on the benefits of the FHA and VA loan programs and how the FHA and VA loan programs will lead them to Home Ownership! For this article, [...]

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