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Home Buying in 90201 : Real Estate Advice

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  • Home Buying7
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Activity 7
A few hours ago
Isaiah Y. answered:
There are a few different loan programs out there that offer $0 down payment. There also may be other special programs that are available in some areas that also offer different type of programs etc. We've started sending our clients to Home Loans For All. They've been really good thus far at finding a lender(s) for our clients. I'll include a link to them.

Hope that helps!
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Thu Mar 2, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

It depends on how much you can afford to spend on a monthly basis.

There are programs that do allow no money down.

I would need more details to determine what you could qualify for.

If you have any other questions or would like help with this you are welcome to get in touch with me.
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Thu Mar 2, 2017
Sheryl Arndt answered:
Hello Cashbuyer1, are you talking Florida or 90201, Bellflower, CA? You can buy with minimal out of pocket expenses with down payment and closing cost assistance programs we have here in CA.

Here is CA there is still room to gain equity in many cities throughout CA and I am not sure of Florida. The purchase in 90201 zip code of Bellgardens, CA start from 280k for 3bd 1ba condo and the single family homes start from 325k for 2bd 1ba home.

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.

If you are buying a primary residence you could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. 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 424k.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Fri Dec 16, 2016
Gissel answered:
Depends on which state and city you would like to buy, and lenders take into consideration whether you have a valid SSN for residency or any temporary. In California the norm for a down payment under FHA loans is 3.5%, conventional loans range from 4%+, although the norms will change next year 2017. If you have a temporary visa you may be able to qualify for a loan but a 30% down payment will be requested, along with higher than normal fees for the transaction, such as closing costs. If you plan to buy cash you won't need anything except for the full cash amount of purchase price on any property you would desire to buy.
If interested in Southern California area, feel free to contact me with any questions you may have through my profile.
Sonnocco Real Estate Group
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Sun Aug 25, 2013
Steven Ornellas answered:
Hi mcortez2121,

First, you should be asking your Realtor® this question since nobody on this forum knows the details of your transaction - and yes, knowing ALL of the facts can make a difference!

However, assuming you used the most recent version of the CA Association of Realtors® purchase contract I would draw you attention to Para 14F of the CAR RPA states, "If Buyer or Seller gives written notice of cancellation ….A Buyer or Seller may be subject to a civil penalty of up to $1,000 for refusal to sign such instructions if no good faith dispute exists as to who is entitled to the deposited funds (Civil Code §1057.3)."

Civil Code §1057.3 says the Seller must release the deposit within 30 days.

Again, speak with your Realtor®!

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