Hi, Talking with a mortgage lender is always the first step. Find one who will approach your situation with your comfort level in mind. You have to be comfortable with the monthly mortgage payment. Putting 3.5% down and asking up to approximately 3% in closing costs should be possible and leave you some reserves. Compare your rent payment with the possible mortgage payment and decide how you can save back your reserves to a comfortable level asap. Keep in mind that interest paid and property taxes paid are tax deductible. Those pros you don't have while renting. Good luck!
Hi, On a conventional sale, three days max (default of contract), on a REO/bank owned between seven and 10 days. Short sale, the home owner normally signs pretty quick but then has to go to their bank and wait for a possible Short sale approval (the real acceptance of your offer) and that can take as long as eight weeks, sometimes longer. These are approximate reply times.
Since you are comfortable with both options, I'd go for the 15 year option. Have you thought about opting for the 30 year and pay more than the required payment every month and by doing so chipping away on your principal. That way, if times do get tough you can fall back on the 30 year payment.
Hello,3507 E 15th street Long Beach ca 90804 is no longer on the market. I've been trying to update the system and it is not working. Please remove this listing asap as well as all pictures and info. I tried several times and it doesn't let me. Your prompt responds is much appreciated. Robin Auwerda, Realtor Keller Williams Realty