Market Conditions in 91737>Question Details

Ocpossi, Home Buyer in Riverside, CA

In 91701 or 91737 is it possible to buy 1le family FHA ok home around 1500SF under 250000, I am pre-approved by WellsBOA?

Asked by Ocpossi, Riverside, CA Mon Aug 15, 2011

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5
Well....it depends on what condition the home is in, of course. It is certainly possible, although the inventory is very low right now.
0 votes Thank Flag Link Thu May 10, 2012
Just checking in on you... Are you still looking to purchase??? If so, please feel free to contact me and I can send you a list of homes.
0 votes Thank Flag Link Sun Apr 22, 2012
What product and interest rate are you preapproved on? When? Rates have gone down 1/2% in the past couple weeks, which may give you some more room and still keep your payment low enough. FHA allows for higher ratios than conventional....Wells/BofA tend to be more restrictive than a mortgage bank that does nothing but mortgage loans (like me). I woud be happy to run some numbers for you to see if I could get you some more purchase powere...no need to run your credit as long you know your score. Just providing another opinion for you.
0 votes Thank Flag Link Tue Aug 16, 2011
It's not impossible but it's difficult. I took 4 months to get my last client into 1400 sqft @ $256,000. It' will have to be a short sale listing.

Click the following URL to see the Listings:
http://www.mrmlsmatrix.com/DE.asp?ID=12390206102
0 votes Thank Flag Link Tue Aug 16, 2011
It is possible, but you are definitely at the bottom of the barrel with that criteria. Right now I am showing 5-10 properties available within that scope. Give me a call and we can talk further.

Craig Chastain
909.243.4251
0 votes Thank Flag Link Tue Aug 16, 2011
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