You may qualify for FHA financing from 3.5% down or as low as half percent down payment program with a minimum 580 fico score. You may consider conventional 5% down with NO Mortgage insurance (Lender paid MI) with a minimum 620 fico score or if you have a minimum 700 fico score, you may qualify for 3% down conventional. There are also closing costs of 5-6k. It only takes a few dozen questions to qualify in minutes for the loan program to fit your needs the best financially. Here are some links to study and consider.
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
9am till 9pm 7 days
Good info from the agents below - step 1 is finding a GREAT loan officer to build a relationship with and then an agent committed to assisting you through the purchase process.
I have two loan officers that I work with alot, please feel free to call both of them and interview them:
Joseph Fernando with Performance Mortgage ~ (661) 547-1435
Paul Porteus with Prospect Mortgage ~ (661) 547-1250
While you are reviewing the loan process, you can begin searching available homes via my website: http://www.tamarastoebe.com
If I can be of further assistance, please let me know.
Tamara Stoebe, REALTOR/Notary
GRI, e-PRO, CHS, QSC
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Fax (661) 422-3006
There are many quality neighborhoods in the Antelope Valley. Depending on a variety of factors like 1) having school age children 2) haing a preference for age of home 3) proximity to shopping and central services, there should be at least a few homes that fit your criteria.
You should know by now that there is a severe lack of supply for houses due to a flooding of buyers to the market to take advantage of historically low interest rates. What does this mean for you? It means that looking for a house right now requires commitment from (you) the buyer and especially from (me) the agent. You will want an agent who will work tirelessly to be aware of the homes meeting your criteria as they hit the market, and to notify you of them as well.
Once you have found your lender and receive your preapproval, you can also have your agent help you get acquainted with a few neighborhoods and home floor plans. That way you will know what your perfect home looks like when it becomes available. I also educate buyers on the values in different neighborhoods so they know a good deal when they see one.
Should you have further questions on the buying or preapproval process, I am happy to help in any way possible. FYI, my office is in Santa Clarita but I live and work in and around Palmdale.
The best thing to do is speak with a lender first. So you may find out amount of payment and the amount you can qualify for. Please let me know if you would like a recommendation. I work with very good lenders.
Nancy Villasenor, Broker Associate
RE/MAX of Santa Clarita
25101 The Old Road
Santa Clarita, CA 91381
(661) 945-7200 Direct
(661) 284-5095 Office
(866) 519-2179 Fax
Broker License 01433438