Angelo Passidakis

California HUD Homes for Sale - Shasta Lake - First Time Home Buyers/Investors

A Local Listing Broker for

Pemco LTD Asset Management

Real Living Real Estate Professionals

3811 Olive, Shasta Lake CA - 3 Bedroom, 2 Bath with 2 Car Garage!

Wooded and Filtered View lot offers privacy.

Good floor plan and nice Eastern exposure.

Large Open Living Area.

Sweet bedroom with Wall Art.

French doors to the Western exposure.

California HUD Homes for Sale - Shasta Lake - First Time Home Buyers!--Wonderful opportunity for First Time Home Buyers or Investors. This 3 Bedrom, 2 bath home with a 2 Car Garage offers a wonderful Buyer opportunity. Call today to learn how you can Buy a HUD Home.

Case Number: 043-748380

3811 Olive Street, Shasta Lake, CA 96019

Listed for $78,300

***Note: Please call for Availability and Current Pricing!

3 Bedroom

2 Bath, 1156 sq. ft. 2 Car Garage

FHA Financing Available

203K Eligible

Electronic Bid Only: www.HudHomestore.com

A Local Listing Broker for HUD-PEMCO, Asset Management

www.HUDPemco.com

866 441-0078

Redding CA - First Time Home Buyers - Getting a Pre-Approval to Purchase--What does it mean to get a Pre-Approval to Purchase?

Getting pre-approved means you receive a loan commitment from your mortgage company before you have found a home, based on a review of your credit and finances. Having your credit pre-approved shows sellers that you’re a qualified buyer and helps you establish a clear price range.

The process is the same as a typical mortgage application, except that your application doesn’t include property information.

What if I’ve had credit problems? Your credit history is only one factor in qualifying for a loan, and having made some late payments doesn’t have to keep you from buying a home. Someone who has consistently made payments on time in the past may have more financing options than someone who has not, but that doesn’t mean a mortgage is off-limits if you’ve had credit problems. In fact, we may be able to suggest a variety of mortgage options to help people with less-than-perfect credit become homeowners and leave credit challenges behind.

What is the minimum down payment I can make on a home? There is no minimum down payment required for buying a home, in general. Many first-time buyers believe they must be able to put down as much as 20% of a home’s purchase price in cash. That may have been true in the past, but many of the mortgage options available to today’s home-buyers require little or no down payment. With housing prices as high as they are, homeownership would be impossible for many people if not for these low-down-payment options. We may be able to suggest a number of loan programs that can help you buy a home with little or no cash.

Will I have to pay for Private Mortgage Insurance? Private Mortgage Insurance (PMI) provides your lender with a way to recoup its investment if you are unable to repay your loan. PMI is usually required when the mortgage amount is higher than 80% of the home’s value. That means that if you buy a home with a down payment of less than 20%, you will probably have to pay for PMI. One common way of bypassing PMI without making any down payment at all is to use an 80/20 program, which combines a first mortgage with home equity financing.

What closing costs will I have to pay? Closing costs vary based on a number of factors – including the lender, mortgage type, purchase contract, and location – but they usually include the following:

• Lender fees. Your mortgage company may charge for expenses related to making the loan, including an appraisal fee, a credit report fee, origination points, and discount points.
• Third party fees. Charges for services not provided by your lender often include the settlement fee, title insurance, and attorney’s fees.
• Prepaid items. Certain mortgage costs must be paid to your lender in advance. The most common of these are pre-paid interest, hazard insurance, and deposits to set up an escrow account.

I specialize in helping First Time Home Buyers purchase their First Home!

Getting Pre-Approved for a Mortgage Loan

Here are some tips and information to help you prepare to meet with a Mortgage professional and establish a relationship for determining what you can afford and what your goals will be. I have a number of references for mortgage consultation and I recommend that you speak with several professionals to determine who you feel comfortable with and want to work with. 1. What will a lender look at when I apply for a mortgage? Lenders consider many factors in evaluating your loan application, but they usually focus on four areas:

• Income and debt. How much money you make and what other bills you have to pay helps the lender determine whether you can afford to make mortgage payments.
• Assets. The lender needs to make sure you have enough money to cover the costs of buying a home.
• Credit. Whether you’ve met other financial obligations helps the lender predict whether you will repay your mortgage.
• Property. The home you want to buy has to be worth enough to act as collateral for the mortgage.

I specialize in helping First Time Home Buyers through the buying process.

First Time Buyer - Investor Opportunity - Redding CA--It's hard to find properties that provide the Cash Flow to pencil as a good investment. When they do, they don't last long. This property pencils. See the Calculation.

First Time Buyer - Investor Opportunity - Redding CA-this 3 bedroom, 1.5 bath home with a 2 car garage is a good opportunity for First Time Home Buyers. Located in a good location with 1,244 square feet of living space. Three bedroom upstairs with a full bath and a half bath downstairs. Open living area makes for a great floor plan.

Located in Starview, this 3 bedroom, 1.5 bath home with a 2 car garage is a good opportunity for first time home buyers.

Nice back yard that is big enough for a garden, pool or workshop.

Integrated Kitchen, Dining and Living Area.

Dining Area and Kitchen.

Living Area.

First Time Buyer - Investor Opportunity - Redding C--Located in the Starview Community, this 3 bedroom, 1.5 Bath home has a good size back yard and a 2 car garage. Perfect for first time home buyers or for investors.

Sold "AS IS".

Case# 043-766276

MLS #11-3382

Listed at $97,000

Note*: Please call for current price and availability!

Listed by Jeanean Gendron, Local Listing Agent for Pemco, LTD Asset Manager

Sold "AS IS" by Electronic Bid Only

Call Jeanean Gendron to View This Property or to learn more about HUD Homes

866 441-0078

This is a HUD Property.

Visit the HUD website to learn more about HUD Resources.

View all HUD Listings.

California Department of Housing and Community Development

Brought to you by HUD-PEMCO.

Visit the HUD-PEMCO website for more information and resources.

Real Living Real Estate Professionals and Jeanean Gendron

866 441-0078

Local Listing Broker for HUD-PEMCO for Shasta County, California

We are here to help you in all your real estate needs!

Disclaimer Note: These numbers are based on Fidelity Title's Escrow and Title Fees. They are deemed to be correct but not guaranteed. The Investor Calculations are from the CIAS Designation tools for Investors.

Investor Calculations:

Purchase Price: $95,000

Down 25%: $23,750 + $2,881 in Closing Costs + $5000 Repairs

PI = $382

I = $27

T = $98

PITI + $509

Gross Operating Income (GOI) = $1045.00 with a vacancy rate of 5%.

Net Operating Income (NOI) = $720

Capitization Rate (CAP Rate) = 9.09% or .0909

Debt Service Ratio (DSR) = 1.41 (should be greater than 1.2

Cash Flow = Monthly $536, Yearly $6432.00

Cash-on-Cash Return (CCR) = 20.3%

It definitely PENCILS!

Redding CA - Homes for Sale - 695 Rogue River - Highland Park--New Highland Park home with many upgrades included! Nice corner lot with a larger backyard now landscaped! Upgrades Include: granite kitchen & bath counters, designer fixtures, tankless hot water, window blinds, stone greatroom gas fireplace,some crown molding & wood wrapped windows, 18'' floor tiles, tile master shower, stone exterior & medium RV parking!

Built by Palomar Builders in the New Highland Park Subdivision.

Beautiful Kitchen Amenities.

Openly designed living space.

Big Sky with a big back yard. Everything you want in your Lifestyle!

Call for Price!