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Home Buying in Orange County : Real Estate Advice

  • All333
  • Local Info10
  • Home Buying182
  • Home Selling26
  • Market Conditions5

Activity 2,218
Yesterday at 5:42pm
Parallel1024 asked:
The amount of estimate of house price we want is $950,000 at Lake Forest CA.
and we can make a down payment of 25% of home price. my parents are going to be co-signer, which makes four…
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Yesterday at 9:10am
Mortgagetalk1 answered:
Thu May 18, 2017
Derek Jones answered:
Short answer is yes.

Affordable homes usually have a larger buyer pool which can quickly raise the price due to more active buyers than sellers. In the luxury market you usually don't have the large pool of buyers and homes sit for a while and sell at or below asking price. Each market differs and "Southern California" is a large market so you'd want to narrow it down by zip code or by neighborhood. ... more
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Wed May 10, 2017
Nicole Fedorchek answered:
Wed May 10, 2017
Nicole Fedorchek answered:
This property is not for sale, but I can assist you in finding others that suit your needs!
0 votes 2 answers Share Flag
Thu May 4, 2017
Grgambale asked:
I have heard that coop financing is virtually non existent. I fully understand the difference between a coop and a house or condo, and I understand why there are different financing considerations.…
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Tue May 2, 2017
Sheryl Arndt answered:
Hello yelimkoo, you would need to put it in a bank account for two months to be seasoned to be included in a mortgage consideration. Are you in escrow already?

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 68 answers Share Flag
Tue Apr 25, 2017
Arpad Racz answered:
Hi,

Your local agent can set up an automated search that filters fixer upper properties. I have one set up for the Bay Area.
Kind regards,
Arpad
0 votes 1 answer Share Flag
Mon Apr 24, 2017
Sheryl Arndt answered:
Yes you may consider conventional financing from a minimum 620 fico score and as low as 3% down these days up to 424k loan amount.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 11 answers Share Flag
Thu Apr 20, 2017
Mail answered:
At the risk of opening a can of worms...

We are potentially looking to buy in the community. I know this thread is several years old now and am therefore reading it knowing that things may have changed since it was written.

So, to any current owners / residents, how have things been in the past couple of years? Any issues you think a potential buyer should be aware of?

Thanks in advance, and let's all try and keep things friendly if there are varying opinions!
... more
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Thu Apr 20, 2017
Abby373.2 answered:
0 votes 8 answers Share Flag
Wed Apr 19, 2017
Sheryl Arndt answered:
Hello Akirick, you could have him do a gift of equity and you would not have any mortgage insurance or down payment otherwise you will need to qualify and have a down payment. You will need to qualify for a mortgage to purchase and the minimum down payment would be 3.5% FHA or 5% down conventional from a minimum 720 fico score.

You may consider 5% down Jumbo with a minimum 720 fico score from 424k 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.

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.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 4 answers Share Flag
Tue Apr 18, 2017
Seth.jacobs asked:
Tue Apr 11, 2017
Nicole Fedorchek answered:
Huntington Beach is a great community! Being local to the area, I know all the neighborhoods! Love to work with you !
0 votes 1 answer Share Flag
Sat Apr 8, 2017
Nikpet418 answered:
Looking for a home with mother in law quarters in south lyon Mi
0 votes 17 answers Share Flag
Thu Apr 6, 2017
Zarobindia answered:
These people are good. Good at nothing I'm still waiting on a refund it's all bull and we need to unite for a class action lawsuit. They don't answer the phone but they should stop answering all together. Who's with me? Zarobindia@gmail.com ... more
0 votes 89 answers Share Flag
Tue Apr 4, 2017
Sarah Demarest answered:
We a Manufacture homE got the loan we are past the closing date and they are ask from my fiancé from where he work back in 2014 . We trying to plan a wedding at the same time . We sold our house the are in now. So we have to move out of here very very soon but the loan and underwriters are making very hard ... more
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Fri Mar 31, 2017
Steve Sanders answered:
There are mobile homes in parks and mobile homes on land that you own. There are also manufactured homes. You need a qualified real estate agent to help you in this area. And when you're a buyer, you don't pay a commission to an agent, so make sure you get a GREAT agent that really knows what they're doing. Make sure they have experience with mobile homes. And make sure they're licensed. Sometimes a mobile home in a park is the right thing for you. You pay a monthly rent for the space and you pay for the mobile home. Generally the rent doesn't go up, but it's possible that it might, or that the park could get sold. If you buy a mobile home on land, you never worry about your "rent" to go up. It's as safe as buying a house. And there are some great deals out there. I live in one, and I love it. They can all be financed, but if it doesn't meet certain requirements, it requires special (hard money) financing and your interest rate will be 3-4 percent higher than standard loans. You can even finance mobile homes in a park through the special financing. If it meets the requirements, it can be financed VA, FHA, conventional - just like a condo or single family house, even with a low down payment. ... more
0 votes 15 answers Share Flag
Mon Mar 27, 2017
Nicole Fedorchek answered:
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