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Home Buying in Riverside County : Real Estate Advice

  • All143
  • Local Info6
  • Home Buying80
  • Home Selling14
  • Market Conditions4

Activity 2,177
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Sun Jan 15, 2017
Sheryl Arndt answered:
Hello Maria, that would be a personal choice of yours. Are you looking for a new home or older home? The drive from Beaumont to Los Angeles is approximately 1 hour and a half depending on traffic.

What city do you work in and what is the maximum commute time you want? The purchase in Beaumont start from 209k for 3bd 2ba older single family home while the newer 3bd 2.5ba two story single family homes built within 10 years start from 254k.

You will need to know your purchasing power and the maximum payment you are looking to achieve to shop for homes. You may want to look at San Gabriel valley or Inland Empire cities depending on your qualifications.

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 any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You will need to be pre-approved to be able to meet an agent to view and submit offers on homes of your choice. You will need to gather one month paystubs, two month bank statements, last two year tax returns including 1040s, 1099s, W2s and all schedules and copies of your drivers license or ID and social security cards for each applicant.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 417k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

You may consider 5% down Jumbo with a minimum 720 fico score from 417k 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.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA or CalVet Loan Specialist
REO and Short Sale Specialist Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Sat Jan 14, 2017
Sheryl Arndt answered:
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.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

FHA allows some unpaid collections without having to pay them off and you are ok with your foreclosure being in 2009 to qualify FHA or conventional now.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score.

If you want to buy 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 will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040s, 1099s, W2s and all schedules, copies of drivers license/ID and social security card for each applicant.

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 you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 10 answers Share Flag
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Thu Dec 22, 2016
Sheryl Arndt answered:
Hello Mary N, congratulations on your decision to buy. You may qualify to buy with FHA financing with "bad credit" or even NO FICO SCORES with alternative credit such as utilities, rent, cell phone, car insurance, etc. If the borrower has credit scores and is the primary wage earner and the co-borrowers are gonna live in the home then you may consider the down payment and closing costs assistance programs.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 636k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

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 want to buy 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 will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040s, 1099s, W2s and all schedules, copies of drivers license/ID and social security card for each applicant.

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 you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

The purchase in Murrieta start from 219k for 2bd 2ba condo, 225k for 3bd 2.5ba condo and the single family homes start from 300k for 3bd 2.5ba home. The purchase in Temecula start from 192k for 2bd 1ba single family home and from 249k for 4bd 2ba home.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Angelica P, Home Buyer in Seattle, WA
Tue Dec 20, 2016
Angelica P answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Atxaviermar…, Real Estate Pro in New York, NY
Mon Dec 19, 2016
Atxaviermartin answered:
Yes, you can buy your second home with a VA mortgage. But I would suggest that you get in touch with a VA Loan Lender to get more information.
0 votes 2 answers Share Flag
Wekiernan2, Home Buyer in Banning, CA
Thu Dec 15, 2016
Wekiernan2 asked:
The auction date comes and goes every month with no auction held!!!!!! Last date on 12/7/2016 came and went.....no auction......new date now early Jan. 2017!?!? Wtf........Zillow and Redfin…
0 votes 0 Answers Share Flag
Sdsearay, Home Buyer in La Quinta, CA
Tue Dec 13, 2016
Sdsearay answered:
Most articles regarding the real estate market state that the housing market has recovered. However, my 55 + community always has more homes for sale then the surrounding areas. This supply/demand ratio has been true since we moved here 9 years ago. Some of the reasons were the market down turn and most recently the Canadian dollar exchange rate. It seems supply is always higher then demand. Plus, we have 1 agent (who lives in the community) who lists 99% of the homes in the community. This agent, of course, uses his own listings as a comparable when suggesting sale prices I believe that is a major reason the prices in our community have stagnated.

It is frustrating when you cannot even get the price you paid for a new home 10 years ago. I don't think I'll ever buy another home in a 55+ community.
... more
0 votes 4 answers Share Flag
Bri_jms, Home Owner in Roseville, CA
Mon Dec 12, 2016
Bri_jms answered:
I also just learned that the Mission Lakes Country Club homes are not in the city limits of DHS, they are considered county. The only homes I have seen in there that are on sewer are a few homes backed up to Little Morongo Rd, and it looks like its only a couple homes, I also found Desert Hot Springs had a additional city tax added to your property tax on homes in the City limits, so that is something else to think about ... more
0 votes 3 answers Share Flag
Lmarshall3las, Home Buyer in Menifee, CA
Sat Dec 10, 2016
Lmarshall3las answered:
Richard Litt…, Real Estate Pro in Fountain Valley, CA
Mon Nov 28, 2016
Richard Littlefield answered:
If you are a foreign national .Contact me if that is the case. You will need to put at least 30% down and t he loans are not cheap.
0 votes 1 answer Share Flag
Karen Anders, Home Seller in Corona, CA
Sun Nov 27, 2016
Karen Anders asked:
I would like a conventional loan for 30 years good credit house sales for 209,000. down of 110,000. Can I get financing W/ low int. rate in corona ca
0 votes 0 Answers Share Flag
Gissel, Real Estate Pro in Wilmington, CA
Wed Nov 23, 2016
Gissel answered:
If you have a lender who was able to approve you, then you can contact your agent to help you with your home search. You must have the minimum required of 3.5% down payment or more, a good standing credit, have very little or no debt at all, and have an idea of which areas you are looking into so your agent can target the homes that best fit your requirements, such as the number of bedrooms and bathrooms you request.
If you do not have a lender nor agent yet, feel free to contact me at any time with questions you may have, I will be glad to help you in this quest.
Gissel Hernandez
Sonnocco real Estate Group
... more
0 votes 1 answer Share Flag
Richard Litt…, Real Estate Pro in Fountain Valley, CA
Sat Nov 19, 2016
Richard Littlefield answered:
You have 12 months to discover items. The question is how bad is it? You will have to sue them to get them to pay for it, If it is less than say $500 to fix it, I would fix it myself personally.
If you have a crawl space and there is extensive water damage, a termite company may or may not be liable. As a realtor, more than once I just paid for a repairman to come out and fix things like this. So bring it up to your realtor, find out how much it might cost to fix it.
... more
0 votes 2 answers Share Flag
Rena Holmes , Renter in New York, NY
Wed Nov 16, 2016
Rena Holmes answered:
If I pay cash for a house how soon can.i close . And move in
0 votes 14 answers Share Flag
Estfz, Home Buyer in Indio, CA
Thu Nov 10, 2016
Estfz answered:
what happen when owner forcloses on property & HOA fees, then doesn't pay even when taken to court?
0 votes 5 answers Share Flag
Navpreet Sin…, Home Buyer in Menifee, CA
Sun Nov 6, 2016
Navpreet Singh asked:
Sharon.wilso…, Home Buyer in Ironwood, MI
Mon Oct 17, 2016
Sharon.wilson4 asked:
want to search an area that includes several cities
0 votes 0 Answers Share Flag
Wpetrulis, Home Buyer in New York, NY
Mon Oct 17, 2016
Wpetrulis asked:
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