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3 Things to Ask Yourself Before You Buy a Loft or Condo in DTLA

3 Things to Ask Yourself Before You Buy a Loft or Condo in DTLA

If you’re thinking about buying a condo or loft for sale in downtown Los Angeles, you need to ask yourself these three questions:

  • Can I come up with a down payment?
  • What does my employment history look like?
  • What’s my credit score?

Putting Up a Down Payment

Unless you qualify for a VA loan (only current or former military service members and some of their dependents, and some Department of Defense civilians do), you’re going to need to come up with some type of down payment on your new loft.

Remember that when you don’t put down 20 percent, you’ll have to pay for private mortgage insurance, or PMI.

A Solid Employment History

Lenders like to see that you’ve been working at the same job for at least 2 years. However, there are exceptions – if you haven’t, but you have other factors that make you a great candidate for a loan, you could still get great terms on financing from your lender.

Credit Score

Lenders want to know that you have a solid history of repaying your debts, so they’ll check your credit score to make sure. The higher your credit score is, the better terms your lender will be able to offer you.

Are You Buying a Loft or Condo in DTLA?

Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.

While you’re here, check out our:

  • DTLA Arts District lofts for sale
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  • Financial District lofts for sale

Posted in: Blog, Buyers, Tips, Life Hacks & How-to Tagged: Buying a Home, Tips

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Downtown Broker/Realtor Randelle Green

Barker Block Sales (Over $10.5m SOLD) *6 Yr Personal Sales Totals!!

Veteran DTLA Broker Randelle Green’s personal sales totals (representing Sellers and Buyers) in less than 6 years at the renowned Barker Block (The King of The Arts District). Leading the way through one of Downtown’s most impressive and popular warehouse loft complexes. Looking to Buy or Sell, you know who to call! The RandelleGreen Group……I […]

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213-254-7626
green@therandellegreengroup.com

Downtown LA Lofts & Condos
Los Angeles, Ca 90015

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