Happy Veterans Day Downtown L.A.! #financing #lofts
As a veteran of the United States Air Force, it’s a special day for me and for our troops who are fighting and guarding us day and night. They all very much deserve our thanks! VA and FHA home loans are government sponsored financing to help veterans and also non-veteran first time homebuyers to afford the American Dream of home ownership. It turns out that helpful mortgage programs like these change sometimes, and, more often, become more or less effective based on changes in the housing market. Today unfortunately, FHA and VA are nearly 100% INEFFECTIVE in the booming Los Angeles housing market, especially for condominiums, and they have lately been totally useless for Downtown Los Angeles lofts for sale. But, there are other low-down payment alternatives.
The good news is that our heroes, both military and civilian, who thought that that they needed FHA or VA financing can find out that FreddieMac and other mortgage lender programs have plenty of low-down financing with 5%, 3% or even no down payment. The LA Loft Blog has posts with more details about the problems, delays and other issues that make VA/FHA impractical for Downtown lofts. >> MORE
Lofts, Condos and Apartments in Downtown LA:
Three Case Studies on Successful Recent Transactions
SALE – When a mother and father just had their first baby, they needed to sell the luxury tower loft that they purchased in 2007 and then leased out in 2010. Purchased at a relative market high, the Sky Loft located at 801 S Grand Avenue had been a bit of a drain on family finances, and with a new baby on board, the family wanted to batten down the hatches on finances and put some cash under the mattress for a rainy day. Not wanting to disturb the tenant, the family chose to start with a pocket listing. The property went into escrow just a few days after the tenant moved out, then sold for a tidy sum of $785,000. The family now has plenty of cash and fewer worries. Find out how much your home is worth with a free online home evaluation.
PURCHASE – A single man needed a nice condo in a fun neighborhood with a very low down payment, he was able to receive priority access to proprietary information on Downtown lofts and Hollywood condos at no cost and no obligation to buy. The exclusive Buyer Profile System sent new listings to him that match his exact criteria just as soon as they came onto the market. He was able to buy an awesome, fully-updated condo with extra large parking space and storage, in an upscale part of Hollywood for less than $400,000. When the seller was on a path to close late, Realtor Corey Chambers took extra steps to allow the buyer to move furniture in early, and then was ultimately able to get the seller to close on time. The buyer saved more than $10,000 off off the asking price and saved thousands more thanks to the prompt closing. Beat out other buyers to hot, new listings. Get a Free List of Foreclosures and Distress Sales.
LEASE – When a single man recently needed to relocate to a new job in Downtown Los Angeles, he wanted to see all of the rentals that exactly matched his criteria, and get it done in just a 2-day trip from out-of-town without missing any bargains. He was happy to find the private LA Loft 3-Hour Tour because it got him into the agent listings from all real estate companies, as well as the unlisted bargains. After seeing nearly a dozen different lofts and apartments, he found the perfect lofty new apartment with open concept, high ceilings, floor-to-ceiling windows, luxury amenities and one of the largest outdoor spaces in Downtown Los Angeles. Best of all, it was under budget because the tour saved him $2,400 over the lease term. Check out the LA Loft Tour and all other homes for lease.
To get your own happy story about buying, selling or leasing in Downtown LA, get free information with no obligation from the L.A. Loft Blog. Fill out the online form:
Secure the Best Financing Rates When Buying a Loft
Get FREE Instant Access
A new report has just been released which identifies a foolproof 3-point plan which any homebuyer can use to secure the best financing rates when they buy an industrial or commercial loft or condo.
When you’re looking to buy a loft, the first thing most homebuyers do is start the process of homehunting. However, experience proves that this is one of the last steps you should be taking if you want to get the most home for the least amount of money. In fact, shopping for the best financing should start long before you start shopping for a home.
The experience of thousands of area homebuyers has been summarized in a new report entitled “Best Financing: A 3-Point Plan”. This report outlines 3 critical steps you must take to obtain the absolute best financing rates when you buy a home. It tells you where you should go, what questions you should ask, and how to manage the process to your personal advantage.
Order this report NOW to learn how to obtain the best financing rates when you buy your next home. You will also receive information on getting the right financing for lofts and condos in Downtown Los Angeles. Visit http://www.LowDownLA.com
LA Loft Loan Problems – Financing Industrial and Commercial Loft Conversions in Downtown Los Angeles
It is the #1 most common disaster that buyers and sellers encounter when transacting a loft condo in LA. — This shocking problem happens most frequently when the buyer and seller both use an out-of-area agent who has no idea about the uniquely challenging financing issues that surround live-work loft conversion. After an often clumsy process of finding the right loft, and then finally getting into escrow, the buyer receives a very unexpected phone call from the lender that goes something like this: “of course we cannot complete the loan as promised… we are a residential lender and you told us you were financing a residential property. This is not a residential building.”
Avoiding this disaster is easy when the buyer has access to the best information about loft financing. Below is a list of loft buildings that may require a loft lender, litigation lender or other special financing.
A free report has been prepared entitled “How to Get the Best Deal on a Downtown Loft Loan” that will help buyers and sellers to complete a live-work loft transaction quickly, smoothly and at the lowest cost, and how to find the right lender for the right loft. To get your free loft lending report, fill out the online form:
Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.