How you progress through a home buying transaction can vary somewhat depending on the real estate laws and customs where you live, but many steps are standard. You'll feel more confident about your home-buying journey when you understand the chain of events and what's required of you, as well as every other person who's involved in the transaction.
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Prime location in sought after neighborhood, Highland Park, positioned between Figueroa Street and York Blvd, a short walk to all of the cafes, shops, dives and restaurants. Fully remodeled California Bungalow, featuring 3 bed 2 bath with functional open floor plan, 2 car garage with additional workspace and a fully landscaped backyard with a kids play area and extensive entertaining space. Some of the major updates in 2015 include all new copper plumbing, new electrical system, new HVAC system and new master bathroom with walk in tiled shower. The kitchen details include African Mahogany wood countertops, all Samsung appliances (stove/oven, refrigerator and dishwasher). Solid blond oak woo
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Each mortgage lender (LendingTree is just one example) will scrutinize your financial background—such as your debt-to-income ratio and assets—and use this info to determine whether to loan you money, and what size monthly payment you can realistically afford. This will help you target homes in your price range. And that's good, because a purchase price that's beyond your financial reach will make you sweat your mortgage payment and puts you at risk of defaulting on your loan.
You won't have to pay PMI: By making a larger down payment, you can also avoid paying private mortgage insurance (PMI). With a smaller down payment -- say 3.5% -- your mortgage lender will want some financial insurance that you'll pay the larger loan off on time, and in full. That increases the monthly mortgage payments you'll make if you make a smaller down payment - and that's a problem a homebuyer who makes a 20% down payment doesn't have.
In turn, the lender will use this info to decide whether or not to loan you money, as well as how much and at what interest rate. If a lender sees some late payments on your credit cards or other blemishes in your credit report, this can lower your odds of getting a loan with a great interest rate, or perhaps even jeopardize your chances of getting any loan at all.
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What’s even better than recurring savings account deposits? Automated savings account deposits that you don’t have to remember to execute each month. Most banks allow recurring savings transfers from internal or external checking accounts. Examine your budget and determine how much you can afford to save each pay period or month, and then make it happen, preferably on the same date (or the day after) you receive your paycheck or direct deposit. Again, consider a separate savings account just for your down payment fund. If you’re looking to open a new account, go with one of these bank account promotions so you can make the most of the opportunity.
Of course, most of these programs depend on factors like your income, a maximum home price, and even your profession. For example, government employees in the Washington, DC, area may be eligible for $10,000 in down payment assistance, and teachers in Los Angeles and Orange County, CA, can get up to $15,000 to help them with their home purchases. Ask your real estate agent about these types of programs that you are eligible for.
Your state and perhaps local governments may offer down payment assistance programs as well. For instance, in my native Minneapolis, the Minnesota Homeownership Center has a handy Down Payment Assistance finder that tells prospective homeowners about down payment financing and non-financial assistance resources available in their areas. In California, Golden State Finance Authority provides direct, need-based grants (with some strings attached) worth up to 5% of the loan amount – not an insignificant sum in pricey California metro areas like San Francisco and Los Angeles.
For most buyers, this is when the butterflies really show up. Once you’ve found a home you want your agent will work with you to craft an offer. Remember, the listing price is only a starting point. Your agent will understand the market and help guide you to make the most attractive offer, whether it’s below, at or above listing price. Are there any contingencies to your offer? Will you require an inspection? These are all things your agent will help you with. Once you’ve submitted the offer you get to wait. It will seem interminable. You may get neither a simple yes or no but a counteroffer to consider. It can be something of a dance. If you get a solid “no,” it’s back to Step 5. If you get to a “yes,” celebrate!
Of course, most of these programs depend on factors like your income, a maximum home price, and even your profession. For example, government employees in the Washington, DC, area may be eligible for $10,000 in down payment assistance, and teachers in Los Angeles and Orange County, CA, can get up to $15,000 to help them with their home purchases. Ask your real estate agent about these types of programs that you are eligible for.

Deciding whether you want to buy a house involves taking a good, hard look at its structure and its features, but there are many other topics that are every bit as important to your purchase. You might want to consider having a home inspection to flush out hidden problems, or even talk to the neighbors to get firsthand opinions of the neighborhood.
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VIEWS, VIEWS, VIEWS!!!! Situated in the Los Feliz Hills, this 1 bedroom, 1 bath condo boasts floor to ceiling windows opening up to a large balcony with breathtaking views. Open floorplan with spacious living and dining areas. Open kitchen with an abundance of cabinets. Spacious bedroom with ample closet space. The complex offers many amenities including: 24-hour doorman, security, club room, fitness room, saunas, and heated pool. Within close proximity to the 5 freeway, restaurants, Griffith Park, Greek Theatre, shopping, hiking trails, and Los Feliz Village Shops. HOA includes water, gas, trash and basic cable. Subterranean parking, gated and secured. A MUST SEE!! See a virtual tou
Beautifully-maintained LIGHT & BRIGHT Contemporary-style Condo right in the heart of coveted Brentwood. Enjoy the spacious, open Living Room w/ high ceilings & a cozy fireplace. The remodeled Kitchen opens to the Living Room & is equipped w/ stainless steel appliances & granite countertops. Features engineered hardwood floors throughout, recessed lighting, new lighting fixtures, crown molding, central A/C, in-unit laundry w/ new front-loading washer/dryer, double pane windows & a guest bath. Recently remodeled Bathrooms include Quartz countertops & sleek floor tiles. Provides the most ideal layout w/ both ensuite Bedrooms at opposite ends of the unit. Boasts THREE Northwest-facing balconies
Fantastic newer built (2011) single family home at the Village At Pierce development. Move in ready. FOUR BEDROOMS, THREE BATHS and nearly 1600 square feet of living space! NO HOA DUES! Grassy backyard with privacy hedges. Gourmet chef’s kitchen with custom cabinetry, granite counters and stainless steel appliances. Direct access garage. BUILT IN SOLAR – A GREAT SAVINGS ON UTILITIES.. All four bedrooms are located upstairs, highlighted by a grand master bedroom suite with walk in closet and spa like master bath with dual vanities. Three additional generously bedrooms share a full bathroom off the hallway, PLUS a bonus loft/office/den area with a skylight providing tons of natural light. Cus
How you progress through a home buying transaction can vary somewhat depending on the real estate laws and customs where you live, but many steps are standard. You'll feel more confident about your home-buying journey when you understand the chain of events and what's required of you, as well as every other person who's involved in the transaction.
Your credit reports are an ongoing record of how you've managed your finances. You should know exactly what they say about your financial history before you apply for a mortgage. These reports and your credit score play an important role in the loan approval process, and they also determine your interest rate and other loan terms that lenders will offer you.
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