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Home Buying in 92688 : Real Estate Advice

  • All24
  • Local Info2
  • Home Buying9
  • Home Selling1
  • Market Conditions5

Activity 8
Sun Jan 1, 2017
Sheryl Arndt answered:
Hello Robbievill, yes sure you should before you retire. 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 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.

You may consider 5% down Jumbo with a minimum 720 fico score from 417k up to 1.5 million and 10% down from a minimum 680 fico score and up to 2.5 million.

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.

The purchase in 92688 zip code start from 205k for a studio condo, from 265k for 1bd 1ba condo, from 269k for 2bd 1ba condo and from 429k for 3bd 2ba condo and up.

You will need to be pre-approved to be able to meet an agent to view and submit offers on homes of your choice. You will need to gather one month paystubs, two month bank statements, last two year tax returns including 1040s, 1099s, W2s and all schedules and copies of your drivers license or ID and social security cards for each applicant.

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
... more
0 votes 1 answer Share Flag
Thu Jun 25, 2015
PIFA answered:
Look to sublet from someone who needs to leave but can not get out of the lease.
Fix your credit then move
Have a relative rent it and then you sublet.
0 votes 1 answer Share Flag
Thu May 21, 2015
Diane Christner answered:
IRS Publication 523 explains the criteria needed to use the $250k or $500k capital gains exclusion:

http://www.irs.gov/publications/p523/ar02.html

When in doubt, go to the source. ;-) ... more
0 votes 5 answers Share Flag
Sat Oct 12, 2013
Matt Allsopp answered:
Hi Sam,

I live in RSM and believe me renting will not be an issue. As eluded to in a previous answer, this would have to e structured as an Investment property, not a second home, but it is possible to offset some of the additional cost of an Investment home with some credits.

I'd be happy to walk you through the process and answer any questions if you have the need.
... more
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Sat Oct 12, 2013
Matt Allsopp answered:
Jeff,

I was out at some open houses today in Rancho Santa Margarita and did note that ether is a bit more inventory in certain areas, and therefore a bit more competition.

Although everyone in this forum has been correct with respect to the OC market as a whole, it does not preclude your ability to request some seller concessions towards closing costs, perhaps $5k. That would diminish your exposure.

Prudence does pay dividends so I'd strongly suggest you get a formal DE (underwriting approval) before the offer is finalized. This will enable you to meet the contingency date with a full understanding of the situation and therefore make in informed decision thereafter.

As a National Direct Lender headquartered out of Orange County, I'd be happy to facilitate this requirement for you right away, within 24 hours. Better safe than sorry, right?
... more
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Fri Apr 13, 2012
Brian VerBurg answered:
Once they are ordered it only takes a few days to get either one.
0 votes 5 answers Share Flag
Fri Apr 13, 2012
John Mussen answered:
Hello Bill,

Yes it is a GREAT time to BUY let me know if you need a loan or home in OC

Thanks
OCJOHN
0 votes 7 answers Share Flag
Fri Apr 13, 2012
John Mussen answered:
Hello Richard,

I specialize in Foreclosures, HUD, Bank Owned and Short Sale Homes in South Orange County. I have personally done many take over payment and owner financed transactions in this area. I just need a bit more information so I can match you with a seller so please shoot me an email,text or call at 949 218-0280 or john@ocjohn.com I currently have a few pocket listings not on the MLs that may fit your needs. ... more
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