Yes, 3.5%-5% is definitely doable! I am a lender based out of California and I have done loans all over the state. With that down payment of 3.5%-5% I can get you an FHA loan or possibly a conventional loan depending on the specifics of your finances. If you would like to know more I would be more than willing to speak with you. 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 would need more information on your home to give an accurate rental price.
What kind of flooring, and what condition is it in? carpet - old or new, laminate, tile, vinyl?
What kind of cabinets and counters? laminate, granite, etc. oak, cherry, etc, and what condition are they in? Same goes for the bathrooms.
How does the backyard look? grass, sprinklers, large patio w/cover, shade tree, etc.
Would you accept pets?
A home in your category and neighborhood usually rent for $1000 to $1300 with a similar deposit. This is usually a slower rental period, seasonally. I would be as aggressive as possible to find a tenant before winter sets in.
I just checked my hunch with rentometer.com and it provides the same info. Data by rentometer can be a little misleading because it doesn't take into consideration a few things:
1. When did the person reporting move in? They could have moved in two years ago, and now the landlord wants to raise rents and they enter their low rent to see if the increase is justified. Now everyone in the area thinks prices are lower than they are.
2. The prices entered don't have to be the truth. You just relying on the public to type in accurate info.
3. This site does not account for who is paying for extra services like gardening, pool service, utilities.
4. All locations are treated equally. Home, duplex, multifamily. Backyard,garage? None of these are considered.
With that said I would recommend using this website tool to get a very fast but vague sense of a market to determine if more research is needed or not.
The key to picking the right price is valuing the intangible items and perceptions of your homes value by the marketplace. A property manager that shows property regularly will be able to help you with about a 5 minute walk through of the home.
Ultimately you will know quickly if the home is priced too high because nobody will call on your ads; assuming they are created well; and the calls you get from your street sign do not get much further than the asking price. If you are getting calls and viewing appointments but no applications then the home condition does not meet expectations. If you are getting too many applications (5+/week) then the price is too low.
As eluded by others, the first thing to do when you want to buy a house, is to find out how much you can qualify for a loan. This requires knowing your credit score, and talking to your loan officer, with all your information such as income, credit card debt, car loans, existing mortgage(s), etc.
Once this is done, you will have a clear budget. And based on that budget you can start looking for a property. Having said that, why not consider Elk grove, it is not too far from south sac. But, it has a good school district, nice tree lined streets, and it is a great place to live. Here you may find nice homes (court yard) homes in the 100+k price range. Good luck.... more
I would have your agent contact the listing agent. Fannie Mae in fact does have asset management workers come by to clean just before the closing. I encountered that during a final walk-through with a buyer who purchased a Fannie Mae owned home. While I was at the property with the buyer, someone knocked on the door to check on the property and from what he said he was there to clean, but he ended up not doing it when I told him that we were there for the final walk-through. If you purchased with a Fannie Mae HomePath loan, there would also have been a locksmith at the property to replace the lock just before closing. I would put this back in the lap of the listing agent and have them look into this as they have access to the asset managers. It's worth a shot. If that does not resolve the problem, you will probably be better off letting it go unless the items that had been taken were high end and not just the standard light fixtures and blinds.... more