I'm not sure if you finished your question but I will try to answer this anyways. Most loans need a down payment except VA and USDA loans. You are only eligible for these loans if you are a veteran or if you are seeking a USDA approved property. Otherwise, most loans will need a down payment. If you do not have much money for a down payment I would suggest looking into an FHA loan. This loan has easy credit qualification, low closing costs, and a low down payment of 3.5%. These are all things you should consider. Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 firstname.lastname@example.org... more
I agree, since you are only allowed to have one VA loan at any time and housing in Southern California is so expensive you may want to reserve your VA zero down capability. However, if you can refi into a conventional loan, regardless if you can sell if for a profit, being a landlord is not that hard, especially when the rent covers all of your costs and you hire a manager.
Think about a long term real estate investment strategy. I have several clients in the military and they buy a house every time they are transferred. One gentleman I work for will be retiring from the Navy in 18 months. He owns 5 homes and after 20 years of having someone else pay his house payment he will have a nice cash flow on each property in addition to his military retirement income.
Think of every home you purchase as an investment. Don't just buy to buy. Have a purpose and a goal and you will be better off for it in the end.
San Diego Real Estate Veterans
You have to tell them up front that you are looking ... before you get in your car and go out gussied Up ... to have too many doors closed to your terms and condittions ... or place it in the Addendum with the Offer and Purchase Offer ... contingent upon*... Creative Financing ... many will not stay the bindery as this is a recession and we all are looking for excuses to blow off a little Steam !... more
Washington Mutual FA is/was a division of WaMu that served as the mortgagee on the bank's mortgage loans. This is the name that they would list on title, etc., as the lienholder on a property, or the beneficiary on the homeowner's insurance.... more
Aggressive FHA financing does exist! But I recommend staying away from brokers. Deal directly with a bank who has a proven track record. I work with lenders that have closed FHA purchase loans in as little as 14 days.... more
874 Joshua looks like a very good value, I would recommend placing a back offer on the property. I have notice quite a bit of fall out lately. It is very cheep insurance, don't forget you are still entitled to receive all the disclosures and contingencies if you are placed in the first position.
Phillip W. Dias
Real Estate and REO Sales & Marketing
I think I found the "Fountain of Youth" and its located in La Jolla... Thanks for asking and thanks for the compliment! I guess it takes one to know one! :)
Deals here are still going all the time! In fact, we just had a property sell for $18,000,000.. It was reduced from $25,000,000... What a steal! I believe it was Barbara Streisands exhusband/manager who bought it..
Unfortunately, i did not represent the buyer or seller but there is always tomorrow!
Keep me in mind in case you have a referrel and I will recipricate.... more