The answer depends on how much less than the $36,000/year requirement for coops and $42,000/year for condos. In a recent conversation with an escrow officer for one of my clients, she said if it is a few thousand less and the buyer has significant assets, a package can be prepared requesting consideration. If you fall short by more than $4,000 and do not have significant assets then the Board will not consider your application. Many people who not meet either the income or asset requirement ask someone to purchase the property with them or use a guarantor. If you would like me to send you the information on the guarantor requirement, please email me at firstname.lastname@example.org with "guarantor" in the subject line.
Don't give up. It's a nice place to live at a great price.
Century 21 Rainbow Realty
Laguna Woods, CA
OC Homes Realty
If you pay cash that is what you are asking and if you do they give a credit toward your salary. To get more information contact Colleen Klein at Homestead Escrow 949-614-8100 they do a lot of ecrows in Laguna Woods and she has helped my clients out putting the package together to submit to the board. If you need any help finding a property in Laguna Woods please keep me in mind. I will be glad to help you find one or check out my website and search for one.