Loft hunters mention a few reasons why they are looking for a loft over a standard apartment. Obviously, these spaces offer many attributes that you can’t get in a standard apartment or condo. However, two attributes of the industrial live-work loft are large dramatic windows and the wide open floor plan that allows for maximum versatility.
Do you have a vision that you will be a pioneer in the next great place? Are you ready to get there now? The new loft building was named one of ten best real estate deals. With FHA financing (may need to be re-initiated), the place offers the creative person the rare opportunity to own a genuine loft in a historic building, often FHA loans that can be as little as 3.5% down. Not only does that make it possible to own a chic loft in the Downtown L.A. area, but the FHA financing adds tremendous monetary investment value. What is easy to finance for purchase is also easy to sell, thus pushing up the value of the property more and more over time. Being the only genuine loft with FHA financing, loft units in the building can be a superior investment. SPECIAL UPDATE – FHA and VA financing has generally not been effective for condominiums in Los Angeles. Get FHA/VA details at https://www.laloftblog.com/?s=fha.
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Fortune favors the prepared. When shopping for a new loft it’s a good idea to have your finances all sorted out in advance. Get free information on how to finance with two popular programs Fill out the online form.
LA Loft Loan Problems – Urban Home Loans and Refinancing
Commercial Loft Conversion
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.
Save money every month by taking advantage of historic low interest rates. Get cash out of home equity to pay off bills, credit cards, car with deductible interest.
Loft Mortgage
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. Also, how to get cash out to pay off bills in a way that is tax deductible. 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.
