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Home Buying in Riverside County : Real Estate Advice

  • All144
  • Local Info6
  • Home Buying81
  • Home Selling14
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Activity 2,232
Earlier today
Densilucy answered:
Finding a Lease to Purchase home can be very difficult if you are not looking to put any amount as security deposit or down payment.

The first step is to tackle your low credit score. Bad credit or no credit can be fixed over time, provided you are committed to doing so.

Here are some of the most common features of lease to purchase terms:

1. The amount of Down payment expected by the owners can be substantial. Most owners generally ask for 10% to 20% of the purchase price. This amount is non-refundable.

2. The amount charged as monthly rent is much above the fair market rent for the area, with the only the excess amount going towards the house purchase. Even this is also not refundable.

3. If not qualified for financing at the agreed upon time and price, then you lose all money you've put into the property so far.

4. The sale price is usually agreed upon at the beginning of the rent to own contract, and the housing prices may still decline before you finally take ownership.

5. The owner must also properly pay their mortgage, if they own. If they fail to pay or default, you lose.
... more
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Mon Sep 25, 2017
Liliana Villanua asked:
selling my home in Downey ,I'm 62 semi-retired woman. best and more stable area? my budget 320-330k I like Menifee. any thoughts?
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Fri Sep 15, 2017
connoranne answered:
i personally went threw a credit repair company that my mortgage rep had told me about(Select US), the judgemnt that was on my credit was the only thing that was holding me back from buying a home. they had got the judgment removed and i was in my home in less then 6 months ... more
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Mon Sep 11, 2017
m willingham asked:
My wife and I are looking to purchase a home in Murrieta/Winchester. We both have a fico score over 720. My wife has been at the same job for over 3 years and makes roughly 41k. I have been…
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Thu Sep 7, 2017
Liliana Villanua asked:
Is Menifee is a good choice? what s the best area in Menifee? I know can't afford Temecula , is there any other good area around it that I missed?
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Fri Sep 1, 2017
Prosper Realty answered:
We have had some clients also looking to do a 203k loan. We typically send these and most other clients to a company called Home Loans For All. They've been great about finding our clients a lender(s) for a ton of different situations. I'd start with them.


Best of luck!
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Wed Aug 23, 2017
Nancy Tauber answered:
You greedy people don't care about the question or answer it. You are trying trying make a sale. Shame on you
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Wed Aug 16, 2017
answered:
Hello Chris, it most likely means "short pay" which is same as "short sale". These types of transactions are risky depending on the bank and can take longer to close as well as price goes up.

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 may qualify FHA 3.5% down from a minimum 580 fico score and from 3% down conventional from a minimum 620 fico score.

Do you have down payment and closing costs or do you need down payment and closing cost assistance programs? You would need a minimum 640 fico score to consider down payment and closing cost assistance programs.

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.

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 and you can be emailed listings to fit your search criteria.

The purchase in Riverside start from 119k for 1bd 1ba condo, from 145k for 2bd 2ba condo, from 224k for 3bd 2ba condo and the single family homes start from 195k for 2bd 1ba home.

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
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Sun Aug 6, 2017
Maplewood1523 asked:
Fri Aug 4, 2017
Vaechie1 asked:
Real Estate agents did not live up to Fiduciary Duties. The County of Riverside did not assess my home correctly, did not come into the home.
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Mon Jul 31, 2017
Angel Turner answered:
I found a home that is Fannie Mae and Freddie Mac I'm s can husband truck driver payment isn't a concern but credit is
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Sat Jul 29, 2017
Hernandezrda asked:
Thu Jul 27, 2017
answered:
Hello Mcstairs26, there is a choice in the "more" choices to select the single family home choice but agents also put condos, townhomes and even manufactured homes under single family homes so you have to look closely.

Agents can do a more advanced search for you. 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 and you can be emailed listings to fit your search criteria.

The single family homes in Corona start from 275k for 2bd 1ba home. 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.

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 1 answer Share Flag
Tue Jul 18, 2017
answered:
Hello kmcfaria21, yes you may consider FHA 3.5% down from a minimum 580 fico score. You may use foster parent income to qualify for a mortgage.

Do you have 3.5% down and closing costs or do you need down payment and closing cost assistance programs? 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.

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.

How much are you paying in rent and what is the maximum payment you are looking to achieve? How many bedrooms are you looking for? The purchase in Menifee start from 150-185k for 3bd 2ba single family home.

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 and you can be emailed listings to fit your search criteria.

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 1 answer Share Flag
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