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Market Conditions in Studio City : Real Estate Advice

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  • Home Buying7
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Activity 4
Thu Feb 2, 2017
Theses links should have the answers to any questions you may have on schools:

These links may assist you with crime statistics:

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.

The rentals in Studio City start from $1,550 for 1bd 1ba apt, $1,950 for 2bd 2ba condo, $2,995 for 3bd 2ba condo and the single family homes start from $3,800 for 2bd 2ba home.

The purchase in Studio City start from 339k for 1bd 1ba condo, 375k for 2bd 2ba condo, 459k for 3bd 2.5ba townhome and the single family homes start from 635k for 2bd 1.5ba 1,498sf home.

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.

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.

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
0 votes 5 answers Share Flag
Sat Nov 29, 2014
Brad Korb answered:
The link that you posted is not showing up now ,good luck !
0 votes 3 answers Share Flag
Tue Feb 4, 2014
aafari asked:
This question was asked from…
0 votes 0 Answers Share Flag
Tue May 28, 2013
carlos parrague answered:
Why don't you go there and find out. It is posted in the lobby
0 votes 1 answer Share Flag
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