I would suggest you try the regular rental sites:
http://www.trulia.com (Rentals Section)
http://www.zillow.com (Rentals Section)
http://www.realtor.com (Rentals Section)
Between all of those, you will get a very clear picture if you can find what you are looking for. Good luck!... more
Thanks for your question. For this particular home, a cash offer or offer with a loan would not make a difference to the seller. The total amount is important to the seller. They would get a full total amount regardless if the offer is made in cash or whether the buyer got a loan. What price range and size home are you looking for?... more
Typically in order to obtain a new Fannie Mae backed conforming loan, you must wait 2 years from the date your short sale closed. Unfortunately in this case you will not be able to co-sign for your Daughter at this point until 2 full years have elapsed. Here is some information for you in regards to short sale waiting times:
FHA has a three year wait period for borrowers who were in default at the time of the short sale (or pre-foreclosure sale). FHA tends to be a popular option as the minimum down payment is currently 3.5% and FHA is more forgiving with credit than Fannie or Freddie.
Fannie Mae has various wait periods depending on loan to value:
•2 years with a minimum 20% down payment
•4 years with a down payment of at least 10%
•7 years with standard down payment guidelines (varies depending on credit scores)
Freddie Mac has a 4 year waiting period.
I hope this helps and if you have any other questions please feel free to contact me directly.
Prestige Realty & Investments
I would recommend taking a look at the listings available on Trulia:
Ali, Community Manager... more
I work all of So. CA and am "reliable and nice."
My understanding of the USC package is that the Short-term Loan Program is designed to assist the participant in obtaining favorable primary financing. The loan may be for $100,000 or 10% of the purchase price, whichever is less. The loan is due in 7 years and may be amortizing (over 15 years at 7%, currently) or interest only at 8%. A life insurance policy in the amount of the loan is required naming USC as the beneficiary. The following criteria also apply. Housing expenses including mortgage payments, insurance, property taxes and homeowners’ association dues (HOA) cannot exceed 35% of gross income. As well, monthly debt obligations cannot exceed 40% of gross income. Finally, all income must be verified. These loans are must be approved by the Treasurer’s Office.
I am not sure if this is the very best loan available for professionals working in the teaching environment. I work with a direct lender in San Diego who is the no. 1 lender for teachers in California. Their program includes
• Best Home Loan program for teachers in CA!
• Only 3% Down-Payment Required!
• Allows teachers to write offers on property as a Conventional loan product!
• Avoid Mortgage Insurance!
• 17% Down-Payment is a Silent 2nd for five years!
• Available to teachers, administrators, school psychologists, etc…
• Can close and fund loan in 30 days!
If you would like me to discuss this with you or find out any further information, please do not hesitate to call or email me.
Bonnie Scribner, REALTOR, QSC
Century 21 Discovery
I use to live in South Pasadena before moving to Seattle then New York. Although when I lived there rents were quite reasonable to live in such a great nice safe area. You can get a nice two bedroom apartment now for 1,500 to 2,000 a month or less. The great thing about this area is that you can also look for a nice California bungalow. Some of the 1 bedroom bungalow are very roomy have dens that may suit you at a lower price.... more