Rec for starter home in the East Bay - Albany/ El Ceritto, Castro Vally/ Hayward. Great credit, $100K down payment; income 50-70K.

Asked by Looking, Albany, CA Mon Dec 20, 2010

safe neighborhood; good schools are very important; planning to get married w/in year, plans for kids.

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Kamal Randha…, Agent, El Sobrante, CA
Mon Dec 20, 2010
Congrats on your engagement....I believe with your income, it might be best to look in areas other then Albany unless you are comfortable with a condo or townhouse. Albany has the best schools in the Bay Area. I have a lot of clients relocate after having children just because of the schools.

If you like, I can send you a sample of what's out their in all 3 cities.
0 votes
Pacita Dimac…, Agent, Oakland, CA
Mon Dec 20, 2010
Hello, "Looking"

Congrats on many fronts, starting with your engagement, your decision to buy a home, having good credit and with quite a decent down payment

Here's a quick estimate, using 4.75% interest rate, conventional loan for 30 years, to give you an idea of what you can afford based on an income of $70,000.

PITI Ratio- Conventional
Total Monthly Payment $ 1,633.33
Interest rate 4.75%
Years of Ln. 30
Tax 1.25
Insur.Rate % 0.35

Your Loan Amount will be� $ 226,595.00
Your approximate house price will be...

With 0% down $ 226,595.00
With 5% Down $ 254,188.00
With 10% Down $ 269,942.00
With 15% Down $ 296,617.00
With 20% Down $ 311,366.00

There are certainly enough possibilities, depending on type of home you want to buy....detached home, condo, townhouse? And will you consider foreclosures and short sales?

What a exciting time for you. How may we help?
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Meena Gujral, Agent, Pleasanton, CA
Mon Dec 20, 2010
Schools in Castro Valley are very good. Why is your income range so wide? Is it 50K or 70K since it can make a big difference on the ratios. You should be able to find a decent townhouse in Castro Valley, but SFR may be tough. Hayward is more affordable, but the schools are not that good. I can certainly help you in these areas if you want to call me at 925-425-9491.

Meena Gujral
Help-U-Sell Achievers Realty
0 votes
Jeff Kim, Agent, Blackhawk, CA
Mon Dec 20, 2010
Congrats on your engagement. Its also a great time as a buyer. I am a local broker in the east bay area who also raises my family here. If you would like to look at homes, feel free to check out my website. You can also feel free to call email or text me. Have a great day and once again congrats!
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