2006-10-09 23:33:53 · 13 answers · asked by athenz 1 in Business & Finance ➔ Renting & Real Estate
Money
2006-10-09 23:37:13 · answer #1 · answered by awesomefb 7 · 0⤊ 0⤋
It takes good credit, a down payment and the ability to make the monthly payment.
The first step is to determine how much of a mortgage payment you can afford. This leads to the cost of the house you can afford.You determine how much mortgage you can afford by looking at the net cash out of pocket after deducting the mortgage interest and real estate taxes from your taxable income. A good CPA can help you with this calculation.
Once you find a house, you want you make an offer. If it is accepted you will then be the purchaser. Remember to put 20% of the purchase price down on the house (if possible), this avoids having to pay a monthly premium for mortgage insurance to the lender. This can limit the house you can afford.
Good Luck
2006-10-10 06:53:26 · answer #2 · answered by waggy_33 6 · 0⤊ 0⤋
Here is the best advice you will recieve.
Before you even step foot into a realtors office I would suggest you get approved for a mortgage. You can get an official approval, competitve rates and programs at my company site http://www.justgetaloan.net/ Getting approved does two major things for you: 1 it lets the realtor know they have a real client, I know it sounds lame but they will treat you 100% better when you have been approved. 2) Being approved gives you buying power. Imagine you were the seller if you wanted to sell your home for $300,000 and i walk up to you and said Ive been approved for $285,000 and can close within weeks they are more willing to take that official offer than trying to hold off for people who they do not know they can really buy the home. This creates a better situation for you becuase now you have equity or money in the home. If you would like further assistance feel free to contact me at 866 530 7300 ext 7305 or email me Jenold Freeman at
2006-10-11 18:33:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Money. And quite a lot of it in most of Cali!
Glad I live in the Midwest!
2006-10-10 06:47:47 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
500k would be good. well 10 to 20 percent of that for downpayment plus a job that pays very very well.
2006-10-10 06:41:22 · answer #5 · answered by cqt3112 2 · 0⤊ 0⤋
nothing at all... I am a loan broker and do many 0 downpayment loans. up to 1.4million purchase price. even multi unit properties.
2006-10-10 07:37:25 · answer #6 · answered by Patrick G 4 · 0⤊ 0⤋
For now just save and get rid of all your debt you time to buy will be very soon.
http://www.breakingbubble.com/index.htm
2006-10-10 09:01:07 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Money, good credit and a great job.
2006-10-10 06:44:19 · answer #8 · answered by greylady 6 · 0⤊ 0⤋
get a good real estate agent: http://www.realestateforsaleincalifornia.net
this directory is really helpful.
2006-10-10 17:31:30 · answer #9 · answered by bigmary2 4 · 0⤊ 0⤋
$$$$$
2006-10-10 07:28:47 · answer #10 · answered by Anonymous · 0⤊ 0⤋