Looking to purchase a home in Coto this summer. FHA loan with low down. Would love a home in 900s possible to get seller carry back?

Asked by fc2012, Trabuco Canyon, CA Sat Feb 2, 2013

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Cristian Car…, Agent, IRVINE, CA
Tue Feb 26, 2013
Here is a link to help you understand the process of AITD

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Cristian Car…, Agent, IRVINE, CA
Tue Feb 26, 2013
It is official that since last summer prices have gone up,buyers are competing against cash investors and multiple offers exceed $1mil level purchases however there are a few exclusive and extremely limited possibilities in Coto de Caza or Rancho Santa Margarita for specific sellers to offer AITD's on properties that are not currently on the market.

Within the all-inclusive-trust-deeds known as "seller carry back financing or wrap-around loans" there are certain risks for buyers and sellers end, since not many properties are paid off,some do have little to no equity or seller might not be current on HOA,taxes,mortgage for buyers to consider picking up the tab. Bottom line is that no seller is going to handle you over equity without substantial down payment.

For past 14 years I have worked the niche market on the road less traveled of Tax Liens and Trustee Sales therefore we ran into many opportunities with my investors so the answer is yes with my help you may have the unique chance to run into a seller who may need some help getting out of the certain situations and you would have the funds to re-instate arreas owed to lenders.

Residing in Coto de Caza for past three years I am confident I could help you attempt to reach your goal if you are motivated and ready to pre-screen and approve with any major bank and/or present your proof of funds for your desired downpayment and closing cost necessary funds so I would be able to assess your situation. Also please do consider to pay the 4-5% finders fee that we do charge buyers by representing both parties sellers and buyers in the event that seller or bank do not pay commissions.

You may reach me directly at 949-689-1988 for a free & confidential real estate consultation.

Best regards,
Cristian Caranica, Broker/CEO
Orange County HQ Office:
2082 Michelson Dr, Suite 100M
Tel: 949-222-2268
L.A County Branch Office
468 N Camden Dr,Suite 268H
Beverly Hills,Ca,90210
Tel: 424-777-6662
Dre Lic# 01260701
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0 votes
Libardo Quin…, , Newport Beach, CA
Sat Feb 2, 2013
Hi fc2012,
FHA goes to $729,750. we are a direct lender, FHA, HomePath,conventional loans, and very nice portfolio products. as a fact many lenders and brokers bring their loans to us Kinecta FCU.

On purchase programs we have great rebates $500 for closing cost, .625bps rate rebates, VIP membership for one year and all the banking benefits!!!

Please send me an email to see your current purchase power and to draft a pre-approval letter good for 90 days.


Libardo Quintero
nmls 380933
0 votes
Bob Phillips, Agent, Rancho Santa Margarita, CA
Sat Feb 2, 2013
Hi there, potential Coto buyer.

You COULD buy a $900k property with an FHA loan. The maximum FHA loan for our area is $729,750, which means you would need a seller to carry a second of up to the amount of your down payment.

While that is possible, FHA wise, it's not very likely that you'll find a seller who is agreeable to carrying such a high amount, with little money down - unless you offer them a VERY attractive interest rate.

As I said, it may be possible, but to count on the seller of the house you like, being in a position to carry such a large loan is really taking a gamble, and quite frankly, isn't the best way to buy a house. Limiting your choice of a new home, to ONLY those where the seller will carry, substantially reduces the number of choices you'll have.

You should also be aware that, with the seller's market that presently exists - yes, even in the $900k price range, especially in Coto - there is a likelihood of there being multiple offers, which would probably put your offer at a disadvantage. Don't believe me? Check out THIS article from our local newspaper, earlier this week:


From the article: "DataQuick reported today that 3,631 Orange County homes sold for $1 million or more in 2012, the highest number since 2007. A record number of California buyers — 7,791 or 29 percent — paid all cash for their mansions."

All I can suggest is this. Work with an agent who actually lives and works in Coto - like me - and who might have a better chance to find the type of seller you're hoping for, in a house you'll actually want to buy.

Good luck with your search.
0 votes
Edith Karoli…, Agent, Winnetka, IL
Sat Feb 2, 2013
connect with a local Realtor to assist you as your personal buyers agent to find you the right property for you in the right price range... do not do this alone. If you need a good local Realtor referral just get
back and ask for one...

Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
0 votes
Alex Vargas, Agent, Irvine, CA
Sat Feb 2, 2013

Thanks for taking the time to contact us here on Trulia.
My associate and I have several listings currently in Coto.
Feel free to call/email/text me for more information.

Oh and by the way please take a moment to view my profile and reviews.

Alex Vargas
Weichert Realtors
DRE #01332235
(714) 269-8775 Mobile
0 votes
Joe Homs, Agent, Laguna Hills, CA
Sat Feb 2, 2013

Anything is possible. You can send me your information and I can create a search for you. FHA does not go that high.

Joe Homs, Realtor
Web Reference:  http://www.thehomsteam.com
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