Find a good lender in your area and start working on getting to that point. I would say at this point your credit score is too low but you need to find out the best way to get your score up. A lender that is knowledgeable should be able to recommend a credit repair company that can prepare you for buying a home.... more
I am a broker and can do the loan FHA or conventional 5% down no MI, so long as they haven't had lates for 2 years. I am confident with this since I just closed a loan with that same scenario in November.
Most, if not all, rentals will look at your credit. However, there are some landlords who will rent to people with poor credit as long as you have proof of income. With the market the way it is today - with several renters having foreclosures and short sales on their credit history - the main thing is proof of income. And yes, there are 3 bedrooms under $1,700. You should contact a local realtor and have them search for possible homes for you. They can set you up in the MLS to receive emails of potential rentals.
In a market sense, you would deduct around 10K for the loss of a bedroom.
However, it is important that your home be as functional as possible while you are there (Especially if you are 5 years + away from needing to sell).
If you do a nice job with the conversion, I would almost expect a wash in terms of value. Also , when your home is being compared to other homes in the neighborhood, yours will stand out as being more functional and updated.
There are condo's in Murrieta but the lowest price is $145k.
Over the last few months the prices have gone up about $40 - $50k...
Let me know if you want to raise your price range.
Hope you had a wonderful Thanksgiving...
It will vary based on usage. But in the heat of this summer when it got to 115 degrees, I was showing property and asked one of the homeowners what his bill was. He said he only runs the AC when the house got to 80 degrees. But that his bill was around $200/month. Like I said, it will vary though.
Best of Luck
CA DRE 01810641
You should be claiming all your tips as income on your tax returns. This is how you prove to the banks that you make what you really do make. Not claiming your income could be considered tax fraud. Be careful with this.... more
Spencers Crossing is a nice area especially if you are looking to raise a family. There are 4 miles of trails to walk, hike, or meet neighbors. There is the sports park which is over 11 acres and includes lighted soccer & baseball fields, basketball court, a tot lot, concession stand, and a private recreation center opening up next year. They will be adding aswimming pool, wading pool, spa, bbq, shade structures, and some playgrounds making it a nice community that you would want to spend time in. There are also great schools nearby as well. Where are you moving from? You are welcome to call me with any questions. (951) 290-8577 Sokha... more