Home Buying in Lynwood>Question Details

fatimalorenzo, Home Buyer in Los Angeles, CA

How long does it take to purchase a home? I m a first time buyer with $10 thousand down

Asked by fatimalorenzo, Los Angeles, CA Thu Sep 12, 2013

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It only takes about 30 days to close a home loan. It will depend on how long it takes you to get into escrow. Do you have an agent and need listings emailed to you to study and compare? I have agents local to show you any homes of your choice once we have you pre-approved. The studio condos start at 189k, the 1bd 1ba condos start at 219k, 3b 2bd condos at 349k. Do you know what your fico scores are? It only takes a few dozen questions to qualify you in minutes and go over your options.

You may qualify FHA from a minimum 580 fico score and 3.5% down or as low as half percent down payment program. It sounds like you need down payment and closing costs assistance. I specialize in Over and Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify for programs, rates and terms as necessary. I can raise fico scores within 3-4 days in most cases. Here is a needs list to gather for processing a loan approval, DU Approval or pre-approval letter to get out shopping for a home of your choice. http://tinyurl.com/l9ctod4

Here are some links to study and consider that I offer to qualify in minutes.

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/FHA.aspx

http://www.under640ficoscoreloans.com/Pages/JumboLoan.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm 7 days
http://youtu.be/MrygA2_8fAY

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1 vote Thank Flag Link Thu Sep 12, 2013
If you are curious about how to get started with the home buying process the first step is to get pre-approved with a lender. When applying for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan. 1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages) 2) Credit Report which they will pull 3) Employment History or Business Tax Returns if you're Self Employed 4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have. These are just a few things you should have ready when you begin your buying process. I have done plenty of loans throughout Southern California and I would be glad to help you get started. Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Wed Feb 19, 2014
Well, right now the problem seems to be finding a home and getting it accepted. Most of the good houses have ten or more offers on them, usually the first day they are listed, in the LA, Riverside and Orange County areas.

We at Tri-emerald have made a name for ourselves with our guarantee that we we will close in 3 weeks or on time.

Right now most lenders are pretty quick because rates have moved up and business has dropped off. Still we are finding that the guarantee that we will close on time helps our buyers win these competitive bids.

See you are competing against all cash bids, but they tend to bid less than they house is worth. So we can convince the seller that we will perform just as good with a full value offer. On the offers on loans, all most buyers can do is to offer a higher price. The problem is that when the appraisal comes in low, and it will then there will be problems.

Once we educate the sellers, our offer looks pretty good. I know it sounds like a little issue but it is huge when buying a house.

If your credit is less than perfect we are not the lender for you, though I do work with people to improve their credit. If you have credit issues, i think I would recommend Shery Arndt below, though i really don't know much about her, she seems to have some good programs.
0 votes Thank Flag Link Fri Sep 13, 2013
Looks like you got a really good answer below.

Let me know if you need a purchase loan for the property or want to get pre-approved (this will increase the chances of your loan being accepted) because I can certainly help you out there. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
0 votes Thank Flag Link Thu Sep 12, 2013
As Fatima wrote, first step in a home buying process is to get preapproved by a lender. The lender will look at your paperwork and will tell you whether or not you're ready to buy a house and the maximum price of a home you can buy. I have great lenders who can help you with that right away. Once you get preapproved, you'll start actively looking with an agent and submitting offers for the homes you like. Please contact me directly at lenasrealtor@yahoo.com. I'd be happy to help you with every step of your home buying process.
0 votes Thank Flag Link Thu Sep 12, 2013
Hi Fatima,
The first thing you need to do is to get preapproved by a lender, so that you know how much you can afford. There's plenty of houses to choose from, but there's also competition in today's market. Being ready will give you the upper hand.
Let me know if I can assist you in any way.
Best regards,

Liliana Alfonso
Realtor
Rodeo Realty
liliana2sell@gmail.com
818-414-0396 cell
818-761-7277 fax
http://www.liliana4realestate.com
DRE # 01759367
0 votes Thank Flag Link Thu Sep 12, 2013
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