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Home Buying in 91604 : Real Estate Advice

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  • Local Info3
  • Home Buying14
  • Home Selling3
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Activity 12
Mon Feb 20, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

There are a lot of mortgage programs avialable.

In the area you are looking to buy in you can expect to put down a minimum of 3%. You are even allowed to roll some closing costs in using a "seller concession". I can explain the sellers concession a bit more if you need me to.

The programs I'm describing allow you to buy a multifamily home and allow cosignors if needed.

I can help you get a pre approval if you would like to see what you can qualify for.

I'm avialable almost 24/7.

You are welcome to contact me with any questions or if you would like help with this.
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Fri Jun 3, 2016
Jgtechpro asked:
Perhaps I simply cannot find it, but there does not seem to be a search parameter for number of floors. If it is there and I am missing it, please let me know where the option is. If not,…
0 votes 0 Answers Share Flag
Sat Apr 16, 2016
Robert Spinosa answered:
I just wanted to update the thread below as of April, 2016. When it comes to 10% down financing, here is an indication of what we're able to offer:

80/10/10: Available up to a purchase price of almost $1.7MM. First mortgage can be fixed rate or ARM (7/1 or 10/1, most commonly) and the second mortgage is usually a home equity line of credit (HELOC).

Single loan, no PMI: We have a 30-year fixed rate loan that will go to a purchase price of just over $2.2MM with a 10% down payment. The loan has no PMI.

REX Homebuyer: REX works a bit differently and is not a loan. Instead, the REX Homebuyer funds will match your 10% down payment. When you end the agreement by way of refinance or sale you pay REX back with a percentage of the value change of the home. REX has the greatest reach with just 10% down, allowing a buyer to get to a purchase price of $3.125MM.

Income, asset and credit requirements vary for all of the options above, so it's important to weigh each to determine the best fit for your scenario. If I can answer any questions I am happy to help.
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Tue May 26, 2015
answered:
Fri Sep 19, 2014
Mike Dronge answered:
Walkaway or ask for a nice hefty credit before releasing your contingencies.
0 votes 12 answers Share Flag
Sat Aug 30, 2014
Tammy Hayes answered:
Your lender will request the appraisal. They have a list they pull from and order it for you.
0 votes 8 answers Share Flag
Wed Mar 27, 2013
Robert Chomentowski answered:
You can only get a USDA loan in a designated rural area. USDA is better if you have a choice between the two. USDA is zero down 100% financing and does not have monthly mortgage insurance. FHA is min 3.5% down and has monthly mortgage insurance. So your payment will likely be lower with a USDA loan. ... more
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Sat Nov 24, 2012
James Sanchez answered:
I think an other reason to add is the time of year... Yes interest rates are low for buyers, which adds buyers..... But, on the sellers side, any one that has been in the market longer than a year knows that this time of the market slows down. No one sells houses during this time of year, compared to spring and summer time. Banks are slowing down on REO's for now. Short sales still, no matter what banks say take at least 3 months. People doing short sales most likely are buying time for the holidays and trying to post pone listing their home for sale as long as possible. Regular sellers are starting to see some profit being made but it is still a small margin, considering when you ask them they always compare todays prices with the artificial prices of 2006. ... more
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Thu Jun 18, 2009
Yanni Raz answered:
You're looking only for brand new building?
I know some that were build last year, thats good enough for you?
0 votes 11 answers Share Flag
Sun Jun 14, 2009
Yana Galuz answered:
It is important to work with an agent you are comfortable with and one that is well versed in the REO market. If you are interested I do work with with an REO team and can possibly assist you, but would need to know more as to your needs. Please contact me at your convenience.

Yana Galuz
Senior Associate
Crescent Realty
yana@crescentrealtyla.com

12345 Ventura Blvd. Ste M
Studio City, CA 91604
(310) 595-5522 Direct
(818) 980-5040 Office
(818) 980-5020 Fax
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Sat Jan 26, 2008
Dot Chance answered:
Hi, again, Abhijay. I answered your other similar question but just want to remind you to keep in mind the size of the lot as well as the size of the house.

Happy House Hunting!
0 votes 2 answers Share Flag
Wed Nov 7, 2007
Dot Chance answered:
Abhijay, Blayne and David are excellent agents and had great answers for you. Let me add that you cannot go strictly by how much per square foot when purchasing a home. You need to keep in mind the lot size because you don't want to pay the same price for a home on a smaller lot than on a larger lot if everything else is the same...

If you need further assistance, you may reach me at 818.432.1671 - I will be happy to help!
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