Zillow Advice: Market Conditions - Moving to Los Angeles, are there any differences between there & rest of US when it comes to loans? http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ Zillow Advice | Zillow Real Estate To answer your questions:Can ... http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ To answer your questions:<br/><br/>Can I get a higher or lower loan there than other places? If so, why? &nbsp;This will depend on your credit and income and what price house you are looking to buy. &nbsp;It will likely be similar as other states, but houses in general are a little more expensive in Southern California than most other states.&nbsp;<br/><br/>Is it overall easier to get a loan there compared to other places? &nbsp;You will likely run into the same requirements as other places. &nbsp;Credit, income, tax returns, etc<br/><br/>Are the rates higher or lower there, if so, why? &nbsp;Rates will be the same and relative to your credit worthiness..banks offer and adjust their loans based on Federal rates that are available nationwide.<br/><br/>Is the cost of living higher or lower there than most places? The cost of living will likely be higher unless you are coming from comparative metropolitan cities like New York, San Francisco, San Diego, etc. &nbsp;If you are coming from a major City, cost of living will be relatively similar.<br/><br/>Is the economy any better or worse? &nbsp;The economy here has been pretty stable over the past year as we come out of the recession. &nbsp;Though company's have left the area, many company's have moved into CA and also started up. &nbsp;Prices have stabilized but rents have increased a bit. &nbsp;<br/><br/>Is it easier to get jobs there? &nbsp;The job market is still very competitive. &nbsp;There are still many applicants for every open position. &nbsp;If you have strong experience and a good track record, there are many opportunities available, but do expect to go through at least 2 or 3 interviews.&nbsp;<br/><br/>Let me know if you have any other questions.<br/><br/>Josh McIntire Fri, 20 Jul 2012 18:07:00 GMT http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ 2012-07-20T18:07:00Z cut to the basics, find a ... http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ cut to the basics, find a good local <a href="http://www.zillow.com/directory/lenders/">lender</a> (direct if possible) or a broker who uses direct lender wholesale.. and then find a good local <a href="http://www.zillow.com/directory/real-estate-agents/">realtor</a> to work with and knows the area... we are in a multiple offer world here in LA and you better have a good agressive agent on your side!&nbsp; if you need a referal let me know... good luck Sun, 13 Sep 2009 21:25:00 GMT http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ 2009-09-13T21:25:00Z Just put at least 10% down, ... http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ Just put at least 10% down, &nbsp;have a 740 credit score or higher and have kept the same profession for the past 2 years and you will be fine. Tue, 08 Sep 2009 17:19:00 GMT http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ 2009-09-08T17:19:00Z Several years ago lenders ... http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ Several years ago lenders were charging a premium for equity lines of credit on properties in several parts of the country, Arizona, California, Nevada and Florida to name a few. The risk was greater due to the fact the value had increased dramatically and the possibility of the value declining was factored in..&nbsp; The cost of living is higher, and potential earnings are greater than other major cities. Lenders will require stable income when a borrower has recently relocated. Your previous residence history and previous employment history will be considered.If you have not have consistent income in the same line of work for two years and if you have not had consistent housing expenses paid on time for two years chances on acquiring a <a href="http://www.zillow.com/mortgage/">mortgage</a> will be much higher if you have a large down payment. Government <a href="http://www.zillow.com/mortgage/">loans</a> are insured and <a href="http://www.zillow.com/mortgage/">loan</a> limits are smaller but qualifying is typically easier. Tue, 08 Sep 2009 17:13:00 GMT http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ 2009-09-08T17:13:00Z That's a lot of questions ... http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ That's a lot of questions Jumper. Rates and terms on loans are set&nbsp;separately by all the different lenders and they do usually vary marginally from region to region. But it's your&nbsp;personal factors, like credit, employment and the downpayment you're considering that make the big diffrence in your home loan.<br/><br/>Here's a great new Community Report tool that gives you detailed local information of all kinds for some of the other questions.<br/><br/><a href="http://www.topmarketer.net/CSR/CSReport.aspx?VUD5L6VTMOOG" rel="nofollow">http://www.topmarketer.net/CSR/CSReport.aspx?VUD5L6VTMOOG</a><br/><br/>I also recently wrote a blog called 'The Most Affordable Homes in Los Angeles: $500k and Less' that may&nbsp;help you. Here's a link. <br/><br/><a href="http://www.trulia.com/blog/AJonesREALTOR/2009/07/the_most_affordable_home" rel="nofollow">http://www.trulia.com/blog/AJonesREALTOR/2009/07/the_most_affordable_home</a><br/><br/>Please feel free to contact me with questions or if you want to make any specific property searches. Best of luck. Thu, 03 Sep 2009 05:42:00 GMT http://www.zillow.com/advice-thread/Moving-to-Los-Angeles-are-there-any-differences-between-there-rest-of-US-when-it-comes-to-loans/273317/ 2009-09-03T05:42:00Z