Property Q&A in Ramona>Question Details

Aaron Young, Home Buyer in San Diego County, CA

I am interested in this one. Does it look like this one will qualify for financing??? Didn't sell at auction huh???

Asked by Aaron Young, San Diego County, CA Sun Jun 17, 2012

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This question is about this property: http://www.trulia.com/property/3064494547-841-Lamar-St-Ramon…

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Answers

5
This home is still listed for sale. If you are interested and need financing, talk to a lender about an FHA203K rehab loan. If you want more info on how those work or other Ramona properties, please let me know.

Jenniffer Taylor
Prudential CA Realty
619-892-6773
jennj@prusd.com
0 votes Thank Flag Link Mon Aug 27, 2012
What is the exact status now??? I guess I can google FHA203k rehab and see what is required to get into this?? I am pre-approved for up to 150k. Making an offer on this goes through you or Homepath????

Thanks!
Flag Mon Aug 27, 2012
Hi Aaron,

The best source for Fannie Mae bank owned homes is Homepath found at http://www.homepath.com . This allows you to search for Fannie Mae bank owned homes by zip code.

You can search homes and it is a low down payment loan program offered by Fannie Mae which favors traditional buyers over investors. When you compare interest rates, it may be higher, however, there is no mortgage insurance on the Homepath loans.

Also, make sure your agent does the comparable sales in the area as Fannie Mae tends to start their list prices about 10% to 20% higher than market value. However, most of their offers are accepted close to, or at market value.

Best of luck to you,

Mark & Kari Shea
Shea Real Estate
Home Sales Specialists; New and Resale Homes
Property Valuation Specialists
Land Sales, Acquisitions & Consulting
Serving Greater San Diego
0 votes Thank Flag Link Mon Jun 18, 2012
Thanks a lot!

Yes I am subscribed to Homepath, will keep looking
Flag Mon Jun 18, 2012
Aaron
Since it is a FNMA owned home the financing standards are quite a bit more flexible. I work with a lender who is an expert in these transactions.
If you are interested in finding a fixer, I can help you and some may qualify for financing. There are also some good FHA owned homes that may interest you.
If you would like some more information please contact me at your convenience

I am never too busy for your referrals

Jerry Heard
Your Broker
The San Diego Property Shop
http://www.TheSanDiegoPropertyShop.com
jerry.sdps@cox.net
Direct 619-920-9796
Office 619-269-5545
Fax 619-269-9168
CA DRE # 00648687
0 votes Thank Flag Link Sun Jun 17, 2012
Thanks Jerry, I get email alerts from most of the big RE sites in that area.
Flag Sun Jun 17, 2012
Aaron, this listing is pending escrow as of May 24th. Let me know if there is anything I ca do to help with your home search.
0 votes Thank Flag Link Sun Jun 17, 2012
Hi Aaron,
No, did not sell at auction. It was listed as a bank owned home and is now in escrow.
Are you looking for a fixer to flip or a home for yourself?
Thank you,
Karen
0 votes Thank Flag Link Sun Jun 17, 2012
I am looking to buy in North San Diego County(fallbrook, ramona, temecula, bonsall or vicinity). Want a cheap fixer to live in that has an decent lot size(7000 sq ft or larger).
Flag Sun Jun 17, 2012
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