No, Your not dreaming. There are several opportunities in Hacienda Heights. I live in Hacienda Heights, and know all the good locations. That's fantastic you have saved for your down payment and have a great fico score. Are you Pre-Approved? If not I can also refer to honest lender that I have referred my clients to for several years. Interest rates are at a low time low and your escrow should close by November 30, 2009, so you can receive the Buyer's Credit . You should have no problem finding a three bedroom home with 2 baths. How soon did you want to move? Please call me if I can help.

Janet the reason no one mentioned the $8,000 tax credit is because this post is from 2008 and the tax credit did not exist yet.

You have a good score and good down payment and I don't see that any one has mentioned the 8,000 dollar credit for first time buyers there is a lot to cover when purchasing a home but all questions could be discussed in detail on the phone or at an appointment when you are ready because no two transactions are the same Its best to sit with your Realtor and discuss your needs.I would be happy to help.

Hongbing:

If you look at my other posts you will see that I always say "Dare to Dream". Especially in today's market. You are looking in an area where $40K will allow you to put 10% down. There is inventory in your price range. You have an excellent credit score, so lenders will be competing to get your business.

Recommendation: Find an excellent lender and get pre-approved for your loan. Find a great Realtor who will put your wants, needs and desires first. (Not necessarily in that order. A great Realtor might be able to hook you up with an excellent lender if you do not know one yourself.) With your team in place and a clear picture of how much home is comfortable for you, you are now ready to go out there and find the right home at the right price and let that great Realtor negotiate the right deal for you. You deserve to own a home. Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty

Perfect time to buy. Hacienda Heights has home under $300k . You will not pay mortgage insurance if you put a 15% downpayment. Than again there is always FHA Loans with a downpayment of 3.5% Let me know when your ready. We are locate din Hacienda Heights and know the are very well.

Your not dreaming, its doable.

If your ready to pursue it, then let me know.

Good luck to you.

Hacienda Heights has homes in the high $300's and low $400's, so you have about 10% to put down, which makes you a good candidate to purchase a home in this area. Your best bet is a foreclosure, short sale or REO, because you will get more home for your money. Although short sales take a little longer than most would like, they are usually the best deal in town. REO's are quicker and the bank wants them off of their books. These properties are usually purchased "as is", but if it is something major the bank might give you a credit for repairs. The fact that you are going with 10% down means you don't have to meet the FHA guidelines, that are sometimes a little tighter. If you need someone to help you, I have knowledge of homes in this area, as a matter of fact I am looking for homes in this area for a client now. E-mail me dyannaavila@hotmail.com

Good Luck!!
dyanna

Now is a good time to buy.... but I have many suggestions for you to protect what I call your largest, most single important financial decision in your lifetime. If you do it right you get off to a good start. I know you don't know me and vice versa..... but if you check my resume on Trulia and also see my website you will see all my qualifications. Best thing is either give me a call or let me know the best time and how to reach you. Once we have a chance to talk I'm sure you will see my honestly and genuine interest in you making a sound financial decision. My second bit of advice is not to rush into foreclosures.... and I will explain more since I am also a State licensed real estate appraiser and work directly with lending institutions. Below at bottom of page is my contact info

David Krecker, BSBA, SRA, MRA
Centuryside Real Estate Inc.
David Krecker
Broker/Owner/State License Appraiser
Office 562-690-6987
Fax: 562-690-7337
Cell: 562-686-2706

Serving the areas of Orange County, Los Angeles County, San Bernardino, and Riverside.

Email: dave@centuryside.com
Website: http://www.centuryside.com

Lending answer:

Private mortgage insurance is not available on LTVs over 90%, which is why lenders require 10% down.

You could go with FHA with just 3.5% down.