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Is my dream realistic? CA looking for property

Hey. So I’m wondering if I should consider purchasing a property in 2022. I have about 40k for a down payment, make 83k annually and have a credit score of 775. I have about 10k in cc debt, but I plan on paying it off by February.

  • I currently live in the east coast but will be moving back home with my parents in Cali until I find a place. I wouldn’t move back until I got my new job.

  • I plan on working remotely and will apply in January, would that affect my application? I’ve been at my prior jobs for five years each (still working here for now)

  • houses are super expensive where I’m from in (Cali, coastal) , and I feel like foreclosures are the only way for me. Does anyone have success stories about purchasing a foreclosure? I did a prelim check and it appears I would qualify for about 475k, which isn’t enough unless it’s a foreclosure.

  • I’ve been reading through the subreddit and it seems like the consensus is that prices may slightly drop but interest rates will rise. And that the longer I save, the higher the price could be.

  • thank you for your help!

submitted by /u/tellmesomething11
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/rs67en/is_my_dream_realistic_ca_looking_for_property/
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