Episode Details

The problem:  Who can you trust within the online channels concerning downpayment assistance programs?

Connor with Honor: (03:05)
You get half a point of interest increase. Maybe that qualification now is 8 58, 25. And then that also corresponds, let's say the property has solar and there's an additional $300 a month on top of that, that has to be factored in as well. Maybe there's an HOA, that's two or $300 that needs to be factored in as well. And if there's MEUs tax or some kind of special assessment, bringing the property higher, as far as the tax rate goes higher than the typical 1.2, 5%. And that's a span folk just to let you know if you're looking at real estate 1.2, 5%. That's the general understanding of the property tax rate here in Los Angeles county for some properties is gonna fluctuate, could be a little bit lower, could be a little bit higher, the best way to do it. Just do the simple math. You find out what the assessed value is.

Connor with Honor: (03:57)
You find out what people pay now it's 2022, let's say 20, 21, and property taxes. I have that kind of document for every single listing out there. So I'm able to provide that information to my clients. So they're able to see it. And then I just factor it in. And I've seen LA county taxes like a 1.35, 1.40, and that's without, uh, CFDs or the MEUs assessments. These are just the typical taxes. You want to definitely know that going in. So you're not surprised every year, cuz maybe you factored it in at 1.25. And now you're seeing it's 1.3, five, or 1.4. If you're really on a budget, you wanna make sure that you don't overextend yourself and you know, all these different factors. And when you do purchase real estate, there are other things that need to be considered. You know, what's that insurance looks like and in Santa creative valley, you know, what kind of zone are you in a flood zone, you're in a fire zone?

Connor with Honor: (04:50)
Where are you as far as zoning goes, are you in an earthquake zone? I think pretty much all Southern California is, but you definitely want to find out answers to those questions because the insurance is that you're probably going to want to get, are gonna be dependent on the, uh, where the house is located. What kind of zone also to get those extra insurances, whether they're mandated or required or not, you're gonna wanna know those prices. So in some cases, maybe with particular loans, earthquake insurance could be something that you have to have. I haven't really seen that, but I've heard of it. And again, you wanna know that number. If it's like in the center of the fault, it could be an issue. If it's right outside the fault zone, it's not gonna impact it. But is an earthquake know where the fault zone is or outside or when you have a fire zone or fire area, does the fire really know that, oh, we're not gonna go outside this boundary to the house next door that happens to not be in the fire zone. 

Youtube Channels:

Conner with Honor - real estate

Home Muscle - fat torching

From first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my