Home Buying in Palmdale>Question Details

hirple33312, Renter in Palmdale, CA

I have about 20,000 to put down on a home. My credit is excellent A nice,safe area.

Asked by hirple33312, Palmdale, CA Thu Feb 21, 2013

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Sheryl Arndt’s answer
There are 35 single family homes under 200k available in Palmdale from a 4bd at $110k up to 200k. It all depends on your debt to income ratio, fico scores and how much you want to invest into the down payment and closing costs. Do you need listings emailed to you to study?

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
DRE# 01140252
NMLS# 297251
9am till 9pm 7 days
0 votes Thank Flag Link Fri Feb 22, 2013
I second Tamara's recommendation for Joeph Fernando. He is experienced, knowledgeable on all loan program guidelines and his company's rates are competitive.
0 votes Thank Flag Link Thu Feb 21, 2013
Hello hirple33312 -

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
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
(661) 466-6849
Fax (661) 422-3006
0 votes Thank Flag Link Thu Feb 21, 2013
With good credit, good size down payment, and sufficient income to qualify, it sounds like you'd be a piece of cake!

Best of Luck!
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Thu Feb 21, 2013
A good lender will be able to help you find the right loan program to meet your financial needs. I know a couple good ones in Palmdale/Lancaster if you need help.

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.

Good luck,

Eddie Momeny
Realty Executives
0 votes Thank Flag Link Thu Feb 21, 2013
Good Afternoon,

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
0 votes Thank Flag Link Thu Feb 21, 2013
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