How to Buy a Condo in San Diego
Check your credit and review your financial status., Determine how much you can afford to spend on a condo in San Diego., Get approved for a mortgage., Take advantage of the Down Payment and Closing Cost Program offered by San Diego County, if you...
Step-by-Step Guide
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Step 1: Check your credit and review your financial status.
Prices in 2012 range from $65,000 to $400,000. , Talk to lenders in San Diego about what kind of mortgage you will qualify for.
A conventional mortgage might be best for a condo purchase.
Discuss whether a government-backed loan such as a Federal Housing Administration (FHA) or Veteran's Administration (VA) loan will work.
Both agencies FHA have implemented strict guidelines that make it more difficult for borrowers to qualify for these loans when they are buying a condo. , This program includes condo purchases.
Borrow up to $35,000 or 33 percent of the condos purchase price (whichever is less) if you are a low-income first time homebuyer.
The County of San Diego offers these low interest loans to help with your down payment or closing costs. -
Step 2: Determine how much you can afford to spend on a condo in San Diego.
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Step 3: Get approved for a mortgage.
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Step 4: Take advantage of the Down Payment and Closing Cost Program offered by San Diego County
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Step 5: if you qualify.
Detailed Guide
Prices in 2012 range from $65,000 to $400,000. , Talk to lenders in San Diego about what kind of mortgage you will qualify for.
A conventional mortgage might be best for a condo purchase.
Discuss whether a government-backed loan such as a Federal Housing Administration (FHA) or Veteran's Administration (VA) loan will work.
Both agencies FHA have implemented strict guidelines that make it more difficult for borrowers to qualify for these loans when they are buying a condo. , This program includes condo purchases.
Borrow up to $35,000 or 33 percent of the condos purchase price (whichever is less) if you are a low-income first time homebuyer.
The County of San Diego offers these low interest loans to help with your down payment or closing costs.
About the Author
Charlotte Harris
Specializes in breaking down complex creative arts topics into simple steps.
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