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A steady job, good credit history and down payment is required but what else do you need to buy a house? I'm looking at houses in the 200-300K price range in socal.

assets

Assets

amt of debt

Oh yeah forgot about debt to income ratio :oh:

A down payment of at least 20% of the cost of the home. If you have bad credit, it might take more to get a mortgage.

Do yourself a favor and have an electrician and a plumber take a look at the house before you buy it.

jus say you're self-employed and do the stated income thing.. u'll get a point or whatever penalty

I plan on buying a new house out in the middle of nowhere. The old ones are too much, especially around la. I looked at a 1800 sq ft house last week in Walnut and the asking price was $630K. And it wasn't in great shape either. It needed at least 10K in renovation.

You'll also need to plan for cost after you buy it.

These days if you have 5% down you can get financing, provided you have enough income and good credit.

no one has mentioned that you wont find a house for 200-300 in socal.. a condo yes.. a house.. maybe a 2 bed 1000 sq. ft.

even the condos here go for 270-350.

I dont have a very big house

4 bd 2.5 bath 2800 sq ft.. and my house is at 580k.