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Rent vs Buy in Ontario : Real Estate Advice

  • All165
  • Local Info4
  • Home Buying51
  • Home Selling5
  • Market Conditions9

Activity 3
Thu Jul 5, 2012
Gabino_Barrera answered:
All the answers you are getting are good. But dont use all 50k. Only use 20% of the purchase price, so for $200,000 it will be $40,000. Call me Ill explain why.

Gabino Barrera Jr.
Mortgage Professional

SWBC Mortgage
23705 Crenshaw BLVD. Suit 101
Torrance, CA 90505

License by the State of California Department of Corporations under the California Residential Mortgage Act
... more
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Tue Jan 24, 2012
Roland Corral answered:
You should buy. There are many reasons, to many to list here. Please call me and I can go over in detail. Here is just one. Since you haven't owned a home in the last 3 years, you are considered a first time home buyer and are most likely eligeable for down payment assistance. I have helped people get over 80k in assistance with approve lenders. Thats the key, they must be approved and you need to go with one that is certified for the particular program in the specific area you are searching in. I'm in southern california and am very familiar with most programs in the cities down here. Be very careful! Many will not want to help you because of their lack of knowledge or access to those programs. I am not a lender so I have no financial interest in my clients getting the assistance and I don't take incentives other than the fact that my clients are very happy after I help them and they always refer me more clients. That's the "catch" if you will. I get a kick out of helping people get these programs. These programs sound too good to be true I know but the fact is, they want to give you the money because if they don't release those funds, their budget will be reduced the following year. The states, counties and cities want you to own because when you own, you pay property taxes, shop locally and pay sales taxes etc. That's their incentive and their communities grow. Good luck! Feel free to click on my name/picture and get a hold of me if you have any specific questions. I'll be happy to help even if you're not in my area. :) ... more
0 votes 18 answers Share Flag
Sat Sep 25, 2010
Stella Doyle answered:
Hi MovingOn, There is no set answer to your question without more information about your debt to income ratio, FICO, the amount of your down payment, etc. Almost all offers require your FICO and an approval letter from a direct lender to accompany your offer. Your first step should be to speak with a realtor or lender who will be able to guide you and help you through the process to purchaseing your first home. Realtors have a wealth of information and contacts to assist you. So do your homework on your search for a Realtor you can trust and have a compatible personality. Or contact me!

Stella Doyle
626-966-3688 ext 211
Coldwell Banker Town & Country
345 E Rowland Street
Covina, Ca 91723
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