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Frequently Asked Questions

Have A Real Estate Question? Ask Away!
Terry H.- Los Alamitos California

Terry: I've been having problems renting my vacant house. My wife and I have tried everything. We even paid for professional marketing. What are we doing wrong?

Ruben: Good Morning Terry, 
Many factors must be considered. We'll need more information to help determine and resolve the problem. 

My suggestions:
  • Make sure your home is Clean & in Ready to Move In Condition. 
  • Conduct a Rent Survey, within a mile radius. Find out what the rent rates are for comparable rentals and make adjustments, to your asking per month price, based on amenities offered.
If  you continue to face this challenge, we offer an affordable Lease Service you can take advantage of.   
Mrs. Yoo - Cerritos California

Mrs. Yoo: What's an impound/escrow account?

Ruben: Thanks For Writing Mrs. Yoo, 
To answer your question, an impound/escrow account is an account set up by a lender to hold funds that are set aside for the payment of  property taxes and insurance. In addition to the principal and interest payment on your mortgage loan, you may elect—or be required—to put aside additional funds each month in an impound/escrow account to pay for property taxes and mortgage and hazard insurance. The lender holds the money in an impound/escrow account and makes the payments from the account when they are due. 
Dale R.- Santa Monica California

Dale: Should I get pre-qualified for a mortgage before I shop for a home?

Ruben: Good Morning Dale, 
Getting prequalified for your mortgage is an important step before you shop for a home. It tells you how much home you can buy and makes applying for your mortgage easier.
Cristina C.- Los Angeles  California

Cristina: How much home can I comfortably afford?

Ruben: Hi Cristina,
The amount of  home you can afford is based on the amount of  mortgage loan you can comfortably support. 
Generally, the amount of  mortgage you qualify for is based on 3 factors:
  • Your monthly payments as a percentage of  income
  • How much cash you have for the down payment and closing costs
  • Your credit history
Tom P. - Huntington Beach California

Tom: What are the various closing costs involved in a mortgage transaction?

Ruben: Hi Tom,
Closing costs can be divided into 3 main categories: 
  • Lender Fees: Fees paid to the lender for the processing of  your loan, such as discount points and origination and application fees.
  • Third-party Fees: Fees paid for services rendered by parties other than the lender, such as title insurance, flood certification and recording fees.
  • Prepaid Costs: Costs that are collected at the time of closing for items such as prepaid or per diem interest, property taxes and hazard insurance.
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