Home Buying in Los Angeles>Question Details

ryniciaw, Home Buyer in Los Angeles, CA

Is it difficult to purchase a home with an FHA loan in Los Angeles? Are there any agents that specialize helping a buyer with an FHA loan?

Asked by ryniciaw, Los Angeles, CA Wed Oct 23, 2013

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24
Hi,

It can be a little more difficult to purchase a home with an FHA loan since you are competing with cash buyers and conventional loans, but it is definitely possible with a little bit of dedication.

I would be happy to help you find an FHA approved home here in Los Angeles.

Feel free to contact me directly at (310) 717-1321 or JamieTian@RodeoRE.com and I can email you a list of properties to look through as well as answer any additional questions you have about the home buying process.

Best,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
http://www.JamieTian.com
BRE #01920120
Web Reference: http://www.jamietian.com
2 votes Thank Flag Link Wed Oct 23, 2013
Yes I have the perfect agent in LA that has closed on lots of homes with FHA.. I can refer you to her just go to the link below.
1 vote Thank Flag Link Fri Nov 15, 2013
Contact me and I'd be happy to assist you with an FHA mortgage, but make sure whomever you work with can properly assess you for all programs that you may qualify for. You don't want someone that only specializes in FHA, you want someone that specializes in ALL aspects of lending so they can qualify you for the best program that fits your individual needs.
1 vote Thank Flag Link Wed Oct 23, 2013
FHA is just one form of financing that is available to buyers. Buying anything is difficult right now, because there are not that many properties to choose from and many buyers out looking and making offers.
As long as your offer is a good offer and your credit and other considerations are also good, there is no reason why you cannot buy in this market.
You do need a very good Buyer Agent who can help you get your offer in quickly and write it in a way that is attractive to the sellers.
1 vote Thank Flag Link Wed Oct 23, 2013
FHA loans are fantastic loans. Talk with your local lender about any restrictions on properties in your area. There shouldn't be a problem with FHA though.
0 votes Thank Flag Link Wed Mar 19, 2014
Hi there, I am a lender based out of Southern California and I have given out FHA loans to many buyers in Los Angeles. FHA loans are very popular mortgages and I would be glad to help you get one for the house you want. I recommend that you speak with a lender and get pre-approved for an FHA loan before you go searching for a home. Either way, I would be glad to speak with you to help you get the loan that you need. So if you have any questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri Feb 14, 2014
Just got off the phone with an agent who actually said they are not excepting any FHA offers period.
0 votes Thank Flag Link Fri Nov 15, 2013
FHA is just another form of financing. There is quite a bit of competition for homes so you might be up against some cash buyers and others the owner might like better.
Don't be discouraged, you can still buy with FHA.
0 votes Thank Flag Link Fri Nov 15, 2013
Of course it isn't hard to buy FHA and you may qualify FHA with a minimum 580 fico score and 3.5% down or as low as .5% half percent down payment program. Your choices will be determined by your fico scores, credit profile, debt to income ratios and how much you want to invest into the down payment and closing costs. Here is a link to a blog on Trulia.

http://www.trulia.com/blog/under640ficoscoreloans/2013/01/fi…

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 Monday thru Saturday, Sundays by appt.
http://youtu.be/MrygA2_8fAY
If my response was helpful, consider clicking thumbs up or Best Answer!
0 votes Thank Flag Link Fri Nov 15, 2013
I had closed FHA all depends if property need repairs or if agent has more than one offer and is higher ,You can also applied for FHA 203 K ask your lender that will help you with repairs.
Best wishes
0 votes Thank Flag Link Sun Oct 27, 2013
It is not hard to buy a home in Los Angeles with a F.H.A. loan,the only challenge you may have is if the house needs work ,F.H.A. will require repairs to be done prior to close of escrow.Also if there are more than 1 offer on the property & the other offers are not F.H.A. the seller may choose the other offer instead .Good Luck !
0 votes Thank Flag Link Sat Oct 26, 2013
FHA is our specialty, call or email for a free pre-approval and free credit report.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (630) 639-1081.

Brad Neumann
Sr. Loan Officer
Mobile Phone: (630) 639-1081
Email: bneumann@myccmortgage.com
3130 Finley Rd. Suite 510C
Downers Grove, IL 60515
0 votes Thank Flag Link Fri Oct 25, 2013
Right now you should have not problem, a few months ago it was not very easy. We put on the approval that we guarantee to fund on time. That really helps getting those offers through. The reason people are afraid of the FHA offers is the requirement to make repairs. But most buyers are asking for everything to be repaired anyway, so why not accept an FHA offer right?

For a free no obligation consultation, feel free to contact me online by clicking my picture or for faster service call my direct line at 949-297-1207



NMLS 287206
0 votes Thank Flag Link Thu Oct 24, 2013
Hi,

I'm going to be honest with you... As a seller, an FHA offer can definitely be on the back burner compared to all cash or conventional offer - some sellers will scoff at having to perform FHA-required repairs for FHA buyers when they wouldn't have to for all cash or conventional buyers.

Don't give up though! Especially with properties that have been on the market for a while and/or are located in areas where most buyers are FHA, you have a better chance. Good luck and let me know if you need any help!


Daniel Kim
Century 21 Action!
562-760-1032
http://www.century21action.com/DanielK
BRE# 01941173
0 votes Thank Flag Link Wed Oct 23, 2013
CHRIS WILLIAMS, HAS WORKED IN LOS ANGELES 15-20 YRS, PROVIDING FHA LOANS, ALONG WITH GRANTS, BONDS, AND DOWN PAYMENT ASST. FOR GOVT. LOANS.

310-692-5744 CHRIS
0 votes Thank Flag Link Wed Oct 23, 2013
Hi there,

FHA loans can be a little more difficult if you are looking at condo/townhomes because the building would need to be what we call "fha approved". On single family homes, we don't have to worry about that. Feel free to contact me -- I have represented FHA buyers. Good luck.

Sara Mehrpouyan
Rodeo Realty
Direct phone 818-903-2040
Direct email smehr818@gmail.com
Bre License #01712757
Sign Up for New Property Listings by Email Here: http://www.newlosangeleshomesearch.com

Want to know your Property's Estimated Current Market Value? Visit http://www.GetLosangelesHomeValue.com
0 votes Thank Flag Link Wed Oct 23, 2013
Hi,

It is not difficult purchasing a home with a FHA if you and the home qualify. FHA has mortgage loan limits and qualification requirements. I have attached a brief overview of FHA. This blog was done Feb. 2013. http://www.westlaestates.com/general/fha-financing-opportuni… Check with a FHA lender for current specific guidelines, rates and terms.

FHA:
http://portal.hud.gov/hudportal/HUD?src=/buying/loans
http://portal.hud.gov/hudportal/HUD?src=/federal_housing_adm…

No Realtor is specified in FHA. The Realtor will find the home and FHA is lending. Check with lenders specified in FHA and get a pre-approval.Hope this helps.

Gail Mercedes Cole
EXP Realty Marina del Rey
310.853.9933
0 votes Thank Flag Link Wed Oct 23, 2013
Hi Ryniciaw,

I bought my house with a FHA loan years ago when I had very little down payment, and I've made it a practice to help other buyers do the same.

If you haven't found a Realtor yet, I'd be glad to work with you.

Diane McDonald
Over 20 Years of Sales and Service
Keller Williams Realty, Los Feliz
http://www.thefunkybungalow.com/
0 votes Thank Flag Link Wed Oct 23, 2013
FHA loans are not that difficult , However, now if you put less than 20% down you have to pay PMI insurance for as long as you have that loan.. It will never go away. So you should check out other loan programs. With an FHA loan the house has to qualify as well, as the buyer. It has to be in move-in condition. FHA loans are in competition with cash and big down payment loans because the house must appraise or you will have to back out of the purchase, so you are more risky of a offer to take for a seller.. Falling out of escrow can cause a huge loss to a seller and they must weigh all their options before choosing an offer... Your offer would have to look very juicy! You just need to choose an agent you trust to help you with one of the biggest purchases of your life. I have helped many FHA loan buyers find their dream home.

Kind Regards,
Madelaine Kolisnyk- 310.869.1712
http://www.madelainek.com
0 votes Thank Flag Link Wed Oct 23, 2013
Not with an experienced agent/broker. Yes absolutely. You may qualify FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify for 3.5% down or even as low as .5% half percent down payment program. Do you know what your fico scores are, what cities your considering, minimum number of bedrooms, maximum payment/price your looking to achieve and how much you want to invest into the down payment and closing costs?

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 Monday thru Saturday, Sundays by appt.
http://youtu.be/MrygA2_8fAY
If my response was helpful, consider clicking thumbs up or Best Answer!
0 votes Thank Flag Link Wed Oct 23, 2013
It is not difficult, however, it depends on the property you want to buy. The Seller is typically responsible for all repairs in an FHA loan, so if you are making an offer on house with repairs required, then your offer will have to be higher that others who make a conventional loan offer or cash offer.
0 votes Thank Flag Link Wed Oct 23, 2013
Ryniciaw,

It is not difficult, if you have the right realtor to help you.

Call me if you need more assistance.

Douglas Lagos
Tel. (310) 463-8088

Coldwell Banker Residential
0 votes Thank Flag Link Wed Oct 23, 2013
While it is certainly not difficult to obtain an FHA loan, Los Angeles or elsewhere, any time you are competing with cash buyers or conventional buyers with a much larger down payment, you will be at a disadvantage.

You can probably forget about getting a great deal on a foreclosure or short sale. The true jewels are being snapped up quickly by savvy buyers who are walking in with a briefcase full of cash and a 10 day closing.

You need to align yourself with a Realtor who will dig deep to find you a place - Maybe a pocket listing or not yet on the market - and you should also employ any and all tactics to give yourself a leg up. Unsolicited offers to buyers who may have taken their homes off the market when things weren't as rosy. Writing an impassioned letter to the seller about why they should sell to you and your family. Include a picture of your kids and puppies if you need :)

My point is that it may take patience to get what you want and it also might take some creativity on your part and the part of your Realtor.

I hope this helps. Good luck and feel free to call me or email me if you require assistance with the financing end of things.

Tony

Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842

tony.grech@pmac.com
0 votes Thank Flag Link Wed Oct 23, 2013
I can certainly help you. You can email or call me anytime.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Wed Oct 23, 2013
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