financing – Page 3 – LA Loft Blog

Downtown L.A. Condos: ZERO DOWN #nodown #zerodown #lofts

Thanks to two great first-time home buyer programs, prospective Downtowners may now own a loft condominium unit with little or no down payment as little as 0% to 2%. Because some loft specialist direct lenders have new programs with more flexibility in helping home buyers, The Corey Chambers Team has helped several home buyers recently to get into their own urban pads with wide open spaces, high ceilings and big windows without the big down payments that they thought they would need to come up with. The happy home owners were really surprised that they would be able to own a condo with so much character. The buyer may even negotiate to have the seller pay for all of the the buyer’s down payment. #dtla | VIDEO

LOFT DREAMS COME TRUE

One happy home buyer just got a dream condo unit with industrial character at Little Tokyo Lofts with high ceilings and soaring concrete columns, great amenities such as 24-hour security, swimming pool and excellent parking included.

Little or No Down Payment on Amazing Lofts

Buyers may use conventional; on approved credit and approved condo HOA; buyer must not have owned a home in the last 3 yrs; 1-2% can be paid by buyer and/or seller or combination, effectively providing a down payment of 0 to 2%. Minimum FICO score is 660. 3% down for balances over $484,350. Buyer’s debt to income ratio must be under 45%. Household income must be under $144,700 for some home loan programs. These low down and zero down programs are subject to change.

Get more information on 0% to 1% down home financing. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/qrh1hwk1gupzkb/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

LOFT LOANS: UNWARRANTBLE CONDOS

Unwarrantable Downtown Loft Condos — Unwarrantable Condo Loans and Lenders

Some Downtown L.A. loft condo buildings such as SB Grand lofts and a few others have issues that can make it difficult to finance units in the building. The reasons often involve high renter ratio, mixed-use, industrial or commercial buildings and incomplete or minimal HOA financial documents. Can buyers get a mortgage in these buildings? #unwarrantable #condos #dtla

Yes, it can be done. When a condo project is deemed non-warrantable, the choices that exist will usually come at slightly higher mortgage rates and fees than a conforming or “warrantable” loan. The lender generally needs to have appropriate portfolio investor connections or investors “in house” that make exceptions for non-warrantable condos. The DTLA agents and brokers who specialize in these most challenging of lofts only know of 2 or 3 lenders who can make it happen.

Get a free list of loft lenders. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/s1wm7iwc02dtdlv/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]