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Beaumont : Real Estate Advice

  • All57
  • Local Info8
  • Home Buying27
  • Home Selling0
  • Market Conditions2

Activity 65
Thu Jan 26, 2017
Sheryl Arndt answered:
Hello Shh0992, yes absolutely. Do you know your credit scores and have 3.5% down payment and closing costs saved or do you need down payment and closing costs assistance?

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 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.

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.

The purchase in 92223 zip code start from 160k for 2bd 1ba single family home and up.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation like retirement income letter, tax returns, etc. for each applicant.

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 any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

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
Sun Jan 15, 2017
Sheryl Arndt answered:
Hello Maria, that would be a personal choice of yours. Are you looking for a new home or older home? The drive from Beaumont to Los Angeles is approximately 1 hour and a half depending on traffic.

What city do you work in and what is the maximum commute time you want? The purchase in Beaumont start from 209k for 3bd 2ba older single family home while the newer 3bd 2.5ba two story single family homes built within 10 years start from 254k.

You will need to know your purchasing power and the maximum payment you are looking to achieve to shop for homes. You may want to look at San Gabriel valley or Inland Empire cities depending on your qualifications.

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 any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

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.

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 417k.

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. You will need 20% down to purchase over 2.5 million.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA or 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
Wed Aug 17, 2016
answered:
craigslist has quite a few.
0 votes 2 answers Share Flag
Thu May 12, 2016
Garrigus Real Estate answered:
Yes Tournament Hills has an HOA. You can get more information here:

http://beaumont-ca-real-estate.com/beaumont-california-communities/tournament-hills-beaumont-ca/
0 votes 6 answers Share Flag
Mon Feb 29, 2016
Karen and Paul Catania answered:
Mello Roos are added to your property tax bill and are for funds needed to build roads and add schools in newer communities. Not all areas have it in the same town. In Northern California it's around $100-$200 extra a month and is a 30 year bond. ... more
0 votes 2 answers Share Flag
Thu Jan 28, 2016
Kathy Burgreen answered:
No landlord will rent to anybody with recent evictions, poor credit scores and low income. Even mobile home parks check credit before renting.

Going forward you should think thru all of your decisions before doing anything. Poor credit scores and evictions ruin your life. ... more
0 votes 1 answer Share Flag
Thu Jul 9, 2015
Alexander Greer answered:
Your real estate agent would be able to answer this question in a second.

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com


Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
... more
0 votes 1 answer Share Flag
Thu Jun 25, 2015
Annette Lawrence answered:
As Debra pointed out, this question was posted inNOV 20, 2010
Shawn could be well on his way to having proper docs.
1 vote 11 answers Share Flag
Tue Jun 23, 2015
Kelli J. Moreno answered:
Sundance North under construction now. They will have community pools and recreation centers specifically for the Sundance North community.

The Skycrest models are open now. Make sure you grab a LOCAL Realtor to take you there for your first visit!

http://www.pardeehomes.com/sundance/skycrest
... more
0 votes 9 answers Share Flag
Sat Jun 13, 2015
Cindy Davis answered:
I don't believe so, no. Mello roos runs with the property and is used to build infrastructure around new housing.
0 votes 1 answer Share Flag
Sat Jan 10, 2015
Cindy Vedder answered:
Go to USDA.com. If you are in a rural area, which Banning I believe is listed, they have loan programs that are better than FHA. Typically you need 3.5% down and about 3% in closing costs, these are of the sales price. These loans allow for "gift funds" on the down payment, meaning someone who is willing to declare that they will gift you the down payment funds and have proof of having that money. Then on closing costs there are several options; seller paid, lender assistance, special loan programs such as USDA or VA loan if you qualify.

If you need a great lender that can help you do this, let me know. I've worked with several that are familiar with these programs.

Good luck to you and know that you have to remain dilligent to get into a home today as it is very competitive - but you can do it! Congrats for taking the first step.
... more
0 votes 3 answers Share Flag
Sat Jan 10, 2015
Kelli J. Moreno answered:
Please give us the property address. Is it in Beaumont, CA?
0 votes 3 answers Share Flag
Sun Sep 28, 2014
Cindy Davis answered:
i agree that you need to discuss this either with an accountant or an attorney...
0 votes 2 answers Share Flag
Tue Aug 19, 2014
Garrigus Real Estate answered:
We would need to address to be able to provide you the space rent for the unit. Please feel free to contact us directly and we will be happy to provide you with the information.
0 votes 2 answers Share Flag
Tue Aug 19, 2014
Garrigus Real Estate answered:
It shouldn't be a problem as long as the payments are current, it may affect your debt ratios. Before you do anything the best thing to do would be to prequal for a loan with a direct lender. To be referred to lender that can work with you please feel free to contact us directly. ... more
0 votes 2 answers Share Flag
Tue Aug 19, 2014
Garrigus Real Estate answered:
This community does not have an HOA. To get more information regarding this community or other Beaumont communities please feel free to contact us. We can also supply you with a list of available properties for each community. ... more
0 votes 5 answers Share Flag
Tue Aug 19, 2014
Garrigus Real Estate answered:
There are so many different insurance companies with a variety of competitive rates. We have an in house insurance brokerage. Contact us directly and we can refer to them to you.
0 votes 4 answers Share Flag
Thu Aug 7, 2014
Garrigus Real Estate answered:
It is possible, it will really depend on your lender and how quickly they are funding. If it funds early enough it may be able to record and close escrow the same day. Good Luck!
0 votes 16 answers Share Flag
Thu Aug 7, 2014
Garrigus Real Estate answered:
A short sale maybe the best option for you. We specialize in short sales, please feel free to contact us directly so we can discuss the option with and determine if the short sale is the best route to solve your situation. ... more
0 votes 7 answers Share Flag
Thu Aug 7, 2014
Thomas Moser answered:
I doubt you can be of any help at this point as his question is over three years old.
0 votes 14 answers Share Flag
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