I wanna buy a house but I don't know anything about buying houses. Any professionals out there know what I should do. I have 750 FICO scores, I have like $80,000 total from four different banks, and make around $50,000/yr
2006-10-05 12:02:06 · 6 answers · asked by mike t 1 in Business & Finance ➔ Credit
You would be better off buying a house around the cheaper northern areas of los angeles or even palm springs....actually if I were you buy a home around riverside or palm springs or even Irvine...houses are cheaper and more for your buck
If gas and driving is a problem just get a hybrid...trust me this is the best choice...plus you would have problems making the mortgage payments
But I believe you have someone else buying with you right? If so...go ahead and buy in LA
2006-10-09 08:36:28 · answer #1 · answered by christiansareawesome 4 · 0⤊ 0⤋
I suggest you educate yourself before you hit the housing market. See books by Suze Orman, visit sites like lendingtree.com for mortgage information. Go online to see information about real estate investing, just make sure it is legitimate.
Then, find a very good realtor that will work with you. Get recommendations from people, and make sure it's not their brother!
This is the biggest investment you may every make, take time to really educate yourself so you won't get taken to the cleaners. If possible too, try not to buy in an area that is not going to work for you. By that I mean, it will go down in value because it isn't a good neighborhood.
With the market in So. CA. falling a bit, you may be able to pick up a deal late this year or into the first part of next year.
2006-10-05 12:12:34 · answer #2 · answered by MadforMAC 7 · 0⤊ 0⤋
First of all, way to go on the credit score! having a higher score makes life a lot easier.
As far as if it's a good time to buy, right now everywhere is a sellers market, but California is still fairly inflated. With the housing market down there, I would say honestly I don't think you make enough yearly to be able to afford a home.
Honestly though, the best way to find out what you can afford is to go to a lending officer and see what (s)he says.
Good luck!
2006-10-05 14:34:28 · answer #3 · answered by chickennosenshi 4 · 0⤊ 1⤋
I don't think you make enough money to buy a home around here.
2006-10-05 12:21:03 · answer #4 · answered by supercreditguru 3 · 0⤊ 0⤋
house prices are coming down, but interest rates are going up. So if u need a house go for it.
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2006-10-05 12:28:05 · answer #5 · answered by bijan816 2 · 0⤊ 0⤋
sshweeett!
LA IS THE SHIZZNITT YO
2006-10-05 12:09:20 · answer #6 · answered by . 3 · 0⤊ 0⤋