Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Buena Park : Real Estate Advice

  • All56
  • Local Info3
  • Home Buying20
  • Home Selling1
  • Market Conditions2

Activity 36
Wed May 10, 2017
Nicole Fedorchek answered:
Mon Apr 11, 2016
Sheryl Arndt answered:
You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specilist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 2 answers Share Flag
Tue Dec 15, 2015
Jellybeanlives asked:
Tue Jul 7, 2015
Sheryl Arndt answered:
Hello Tgunnnzzz, you will need to be pre-approved if you decide to buy and to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs.

You may qualify to buy with minimum out of pocket expenses and pay less than rent in many cities. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may now qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
... more
1 vote 12 answers Share Flag
Mon Nov 17, 2014
Frank Abbadessa answered:
There are many of these programs available. There are certain stipulations such as income requirements and debt to income ratio though I have had several clients take advantage of this program without having to ever pay back the 3%. It's a great program that may not be around forever so you may want to take advantage while it's here. Please let me know if I can help you out, thanks! ... more
0 votes 7 answers Share Flag
Tue Jul 22, 2014
Ali Qureshi answered:
With FHA guidelines, you can qualify with as low as 3.5%. If you qualify under conventional guidelines you can put as low as 5% down payment. Qualify with a lender to understand all your options. ... more
0 votes 11 answers Share Flag
Tue Jul 22, 2014
Ali Qureshi answered:
There are different programs available. FHA Hud guidelines are changes so You don't have to wait to buy after a short sale. Talk to a lender to qualify under new programs.
0 votes 7 answers Share Flag
Thu Jun 26, 2014
Kawain Payne answered:
No one can say for sure what the future of home prices will be. We can only act based on CURRENT conditions.

Rates remain at record lows, but lending guidelines are getting strict as well as appraisals.

If you qualify to buy a home NOW, I suggest you do not sit on the fence.

Much Success to you!!!!

Kawain Pyne, Realtor
... more
0 votes 4 answers Share Flag
Sun Feb 23, 2014
Tonia Flores answered:
I noticed you are in Wisconsin and therefore laws and practices may differ from many of the California based answers. The following links may help you decide if you want to pursue the matter.

The Wisconsin Bar Association has information posted http://www.wisbar.org/newspublications/wisconsinlawyer/pages/article.aspx?Volume=75&Issue=5&ArticleID=379

They also have an attorney referral services if you do not have one already http://www.wisbar.org/forPublic/Pages/for-public.aspx

Best of luck to you. I hope everything works out for you.

Respectfully,
Allen and Tonia Flores
REALTORS®
Keller Williams Coastal Properties
BRE 0192100 | 0188440
Allen: 562.248.6855
Tonia: 562.448.2044
fax: 562.661.6052
... more
2 votes 8 answers Share Flag
Fri Jul 5, 2013
Rosa Tena answered:
Hi Dan;
You did the correct first step, to be approved. I recommend you to see San Bernardino or Riverside Counties.
0 votes 7 answers Share Flag
Sun Dec 9, 2012
Michelle Gonzalez answered:
I had 2 short sale sellers that sold 3 years ago buy this year (waiting period was 3 years). They bought FHA with the minimum 3.5% down. The minimum FICO score needed was a 640 mid score. If you have any other questions feel free to call me. ... more
0 votes 4 answers Share Flag
Wed Oct 24, 2012
Eden Lim answered:
Wed Oct 24, 2012
Felix Hung answered:
Srk55,

I do believe you can get a loan - based on the length of time since your foreclosure BUT, you really should talk to a qualified mortgage professional. There are more qualifications needed like debt-to-income ratios, credit scores, lingering legal issues, if you've been on time with all of your credit accounts etc. Find someone you like and have them help you with a mortgage qualification.

Felix
... more
0 votes 5 answers Share Flag
Wed Oct 24, 2012
Shane Milne answered:
Kyn, a minimum of 2 years is what is required on a short sale where there were late payments leading up to the short sale. You'll need 20% down, but if the short sale was due to documented extenuating circumstances (medical situation, an accident, death of a wage earner, etc.) then 10% down is permitted. At 4 years then 10% down is permitted no matter the reason for the short sale, extenuating or not. At 7 years then maximum financing is available (which currently requires 3% down).

Those are conforming loan guidelines, which is the primary type of conventional loan/what you see & hear advertised on TV & the radio.

FHA normally requires 3 years from the short sale, but can be OK with just 1 day afterwards if the mortgage payments were made on time within the 12 months prior to the short sale & you aren't looking to take advantage of declining market by purchasing a similar or larger home in the same area as you short sold. Since you were late on the payments leading up to the short sale you'll be looking at a 3-year wait for FHA financing.

Shane Milne | Lending in all 50 states | NMLS #81195
... more
1 vote 6 answers Share Flag
Fri Oct 5, 2012
Eden Lim answered:
Wed Sep 12, 2012
Ted Canto answered:
Theresa, Aaron is correct about the under $100k in OC.. That is near impossible but I do believe you can get an FHA after 3 yrs from the date of the foreclosure.
0 votes 3 answers Share Flag
Tue May 15, 2012
Shaukatali Kadibhai answered:
If a cash buyer is an INVESTOR you will stand a better chance as an owner occupied house.
Your offer is all that matters meaning the cash offer may be a low ball.

Good luck.
0 votes 19 answers Share Flag
Thu Jul 7, 2011
John Accornero answered:
Dear Jong,
if you are still trying to figure this out...ask a Realtor who actually lives in the area...me. Only buy a home that is actually on the MLS or a for sale by owner....many times there is alot of disinformation going on in real estate and there may be title or ownership issues if you go through illegitamate means. Be sure your lender is a direct lender as many sellers do not accept brokerage approvals. Dont fall for the rebate gimmick...how about just negotiating a better price? Lenders do not always like the idea of this program and participating in it may deny your FHA loan. They need to see all the money on the table.
John
... more
0 votes 12 answers Share Flag
1 2
Search Advice
Search
Home Buying in Buena Park Zip Codes

Followers

367