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Rental Basics in Seal Beach : Real Estate Advice

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  • Local Info3
  • Home Buying8
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Activity 1
Tue Feb 7, 2017
Sheryl Arndt answered:
Hello Mary, you should ask the owner to repair it and see what they say and go from there. If you have a dispute you can reach out to the Inland Mediation Board of Los Angeles which is a free legal advice service for tenant and landlord rights. Here is a link and let us know what they say and the end result, good luck.

http://www.under640ficoscoreloans.com/Documents/Inland%20Fair%20Housing%20and%20Mediation%20Board%20tri-fold%20brochure.pdf

The rentals in Los Angeles start from $615 for a 1bd 1ba apt, from $724 for 2bd 1ba apt, from $847 for 3bd 2ba apt and the single family homes start from $1,450 for 2bd 1ba home.

The purchase in Los Angeles start from 119k for 1bd 1ba condo and the single family homes start from 140k for 2bd 1ba home. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

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 should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

If you decide 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 some documentation for each applicant.

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 are buying a primary residence 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 424k.

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 424k. 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 424k.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/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
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