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Home Buying in Tehachapi : Real Estate Advice

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  • Local Info2
  • Home Buying15
  • Home Selling1
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Activity 13
Sun Jan 29, 2017
Sheryl Arndt answered:
Hello Kellie, investors don't buy homes that way. Medical bills are not counted as they are unforeseeable. You may qualify to buy with minimal out of pocket expenses such as first, last and security deposit of any rental. How much do you pay in rent and what are your fico scores?

The purchase in Tehachapi start from 75k for 3bd 2ba REO condo and the single family homes start from 115k for 3bd 2ba 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. You will need to gather some documentation for each applicant.

You may qualify already but 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 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.

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.

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 1 answer Share Flag
Mon Aug 4, 2014
Deborah McKnight answered:
If your current income qualifies you for the purchase mortgage you're good to go...talk with a lender to put your pre-approval in place. Having that piece of paper will enpower you when you do find a home that fits! Give me a call if you need the help of a local Tehachapi broker. I live and work here and I love helping people move in to the area. My cell direct is: (661) 444-0921. Guess what!?? I answer the phone. ;-) ... more
0 votes 7 answers Share Flag
Thu Nov 21, 2013
Sally Lawrence answered:
Yes, there is a voluntary POA (Property Owners Association) in Stallion Springs. The annual dues are $25 (not $150) and you can still attend POA sponsored function without joining the Association.

As mentioned previously, the Bear Valley Springs HOA (Home Owners Association) dues are a little over $1300 per year.

Hope this helps!
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0 votes 3 answers Share Flag
Wed Sep 18, 2013
Alexander Greer answered:
Looks like you got a really good answer below.

Let me know if you need a purchase loan for the property or want to get pre-approved (this will increase the chances of your loan being accepted) because I can certainly help you out there. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
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0 votes 2 answers Share Flag
Sat Jul 20, 2013
Sally Lawrence answered:
Hi Linda,

1150 Arabian does not appear to be currently listed for sale. It last sold in February for $77,000. What kind of price range were you interested in?

I saw your other message about buying a house without being out on the street. As others have already answered, this is simply a matter of timing.

I work in the AV as well as Tehachapi and would be happy to speak with you about how to acheive your goals. Feel free to call me at 661-375-REAL
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0 votes 1 answer Share Flag
Sat Jul 20, 2013
Thierry Abel answered:
Our “Departing Property” program allows home buyers to get pre-approved, make an offer and hopefully purchase a new house before selling or even listing their current residence. (Who would want to sale their house before having a new home to move their family into, in this multi offers market?)

In order to help our buyers qualify carrying both houses we underwrite the new loan offsetting the departing property’s housing expenses = Principal, Interest, Taxes and Insurance (PITI) in either of the following two ways;

Departing Residence Retained For Rental – Offset departing residence’s PITI with 75% of future lease!

We use 75% of rental survey on departing residence with a rent survey (no rental agreement or deposit check necessary), and whithout landlord history/experience.

We do not require a minimum 30% equity to offset PITI with rental income. However, property must not be underwater (Cannot owe more than the departing property is worth).


Departing Residence Listed/Not Sold – Will not count departing residence’s PITI in debt ratio!

Need listing agreement (property on MLS not required)

Borrowers must have an additional 6 months liquid PITI reserves on the departing residence (does not apply if departing property is in contract)

HELOC or private money loan on departing residence okay in order to make the down payment on new residence (but payment must be considered in the 6 months reserve requirement above unless the departing property is in contrat)

Call for all details.

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
E: tabel@allcalifornia.com
NMLS 304353 - DRE 01380701
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0 votes 5 answers Share Flag
Wed Jun 5, 2013
Deborah McKnight answered:
Give a Tehachapi Realtor a call. He or She can set your email address up for "auto-notification" of listings that fit your search criteria. That info will come directly from the MLS that offers the most up to date data. Good luck! ... more
0 votes 2 answers Share Flag
Sat Feb 9, 2013
George Raymondo answered:
Mr. Pineda,

Before you write-off your chances of actually being able to qualify a mortgage today, take a look at some of my recommendations or comments on my blogs. I have had the privilege of helping hundreds of families over the years most who thought just like you that either they lacked the sufficient down payment, lacked the credit, or believed their income wasn't sufficient. Please don't count yourself out. Invest the time and speak with a Loan Officer who has expertise in analyzing credit and if nothing else will put you on the path to home ownership. The truth is, most people today just want to know what they need to do to become a homeowner. I have two awesome programs available in your area. Take a peek at the links below, you just might be surprised to find out that you can qualify for one of them

Best of Luck!

http://www.trulia.com/blog/george_raymondo/2011/03/usda_loans_-_0_down_payment_what_s_the_catch

http://www.trulia.com/blog/george_raymondo/2011/08/california_giving_away_free_money
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0 votes 3 answers Share Flag
Thu Dec 13, 2012
Cindy Davis answered:
Assuming your lender can close early and the seller agrees, absolutely! The hold up is usually with the lenders - so hopefully you have a good one.
0 votes 8 answers Share Flag
Fri Apr 23, 2010
Steven Fong answered:
Yes you can....There will be a licensed real estate agent representing the builder that will also be representing you. Therefore, they will act as a duel agent and have a fiduciary duty to both parties. There is no cost to you as a buyer in having a Realtor represent you. Get representation with your OWN Realtor. ... more
1 vote 24 answers Share Flag
Thu Apr 22, 2010
Josh Riley answered:
It would depend on the zoning of the land. Most lots are not zoned for two homes. If you need more information on zoning feel free to contact me at 661-822-3500 ext. 1. We would be happy to help!

Josh Riley
Associated Real Estate
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0 votes 2 answers Share Flag
Thu Apr 22, 2010
Josh Riley answered:
Hello,

The Tehachapi market is great for home buyers. We have recently seen the prices stablize after having a huge drop. You are able to find a home under $200,000 (depending on what you are looking for). California also has a tax credit that they are offering home buyers if you qualify. If you would like more information on the tax credit I could send it your way.

If you have any further questions you could contact me direct. My email is TeamRiley@ARErealestate.com.

Good Luck,
Josh Riley
... more
0 votes 5 answers Share Flag
Thu Feb 18, 2010
Debbie Mcknight answered:
Hello Charles: a resale is a typical real estate transaction where a non-new construction house is sold. A short sale is where the owners and their lender has agreed to sell the property for less than what is owed on it. You are welcome to call me anytime with your real estate concerns. ... more
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