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Home Buying in La Palma : Real Estate Advice

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  • Local Info2
  • Home Buying5
  • Home Selling0
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Activity 6
Sun Feb 17, 2013
Keith Jones answered:
Most Real Estate website show homes that are listed. This means that the seller has hired a real estate agent to list their home in the Multiple Listing Service (MLS). The Auction website, on the other hand, shows homes that are "scheduled" for public auction. I say scheduled because many of the sales are postponed on the day of the auction. ... more
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Thu Jun 26, 2014
Todd Foust answered:
I have no idea about a forecast for 3-4 years out. Impossible to predict, although I'm sure opinions are abundant. Down payment minimum right now for FHA is 3.5%
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Tue Jul 1, 2014
Terry Farnsworth answered:
Generally, you should be eligible for a mortgage 2 years after a short sale. You'll want to check with a lender for the specifics and requirements. Next, if you want to buy the house you are renting - the owner will have to A. "want" to sell it, and B. "be able" to sell it. If there is a sizable loan outstanding on the property, the owner may be renting it out because he/she can't sell it for enough to satisfy the remaining balance.

Regardless of if you convince the owner to sell you the property you are renting, you'd still have to qualify for and obtain the financing (unless the owner will finance you) to ultimately pay for it. Hope that helps!
... more
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Mon Nov 17, 2014
Tim Moore answered:
I am not familiar with any FHA program requiring .5% down. Normally it is 3.5% which is still incredibly low.
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Sun Dec 9, 2012
Christopher Pagli answered:
Hi, it could be 2 or 3 depending on the reason. The minimum down payment is 3.5% and technically the minimum credit score is 580 but finding a bank that will fund under 620 is hard these days. ... more
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Tue Jul 22, 2014
Scott Godzyk answered:
The person you should be asking is a local and trusted loan ofiicer who can look at your credit and financials to see what programs you quailfy for. They then can outline what you will need to put down in order to reach your goal. ... more
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