YellowFever said:someguy
Don't forget about the massive influx of Chinese anchor baby mommas, the 17 year old kids with their ferrari/lambos in Diamond Jamboree, and last but not least, ;D, the environmental hazards like TCE, landfill, pesticides, and new homes which emit formaldehyde
someguy said:Dang it Jizz and your rational fact based advice! Look, Irvine bad, 4444, do not buy. The Irvine of my childhood (30 years ago) is nearly gone, but maybe there's some hope if FBs can be convinced to look elsewhere.
So, Irvine too sunny, too much traffic, drivers dangerous, too production (not custom designer brand) house, too much children playing outside, too much white people being nosy with their "hello! how's it going?" questions when they walk by a neighbor, too much pizza and burger restaurants... there must be more, what am I missing? Oh too much craft beer! Too much drug addicts using legal Marijuana! Great shame! Terrible city! 4/10 would not recommend.
YellowFever said:nyc to oc said:actually, if you come to the Tustin school district side of Irvine, its more diverse. TUSD is FCB repellent! I've definitely noticed in my neighborhood there are few FCBs, no renters, and all owner occupied houses, many of them people who have been living in Irvine or other areas of Orange County for years, sold their old house, and moved here.
Tustin is for wannabe people who want to pretend like they live the wonderful 'Irvine Master Planned Communities' lifestyle without paying the high HOA/MR price for it. ;D ;D ;D
Just like how a Lexus "F" wants to be a M series or AMG series but can never get there... (Lexus should change their slogan instead of "The Pursuit of Perfection" to "Always Pursuing Behind that Perfection")
But with this method if buyer failed to obtain a mortgage or come up with the cash, that 6 figure deposite is gone. This had happen to a few FCB buyer from China due to their capital control
Loco_local said:But with this method if buyer failed to obtain a mortgage or come up with the cash, that 6 figure deposite is gone. This had happen to a few FCB buyer from China due to their capital control
How often does this happen? About how much money would you guess the Irvine Company makes off of this racket? One million, ten, a hundred or more?
This is not necessarily true. Not all builders in Irvine require you to be pre-approved by their lender (some will allow an alternative lender...it might impact where you fit on the "priority" list though). Even Irvine Company will let you buy at times without (in this market, the only time they probably would and even then I have no idea, would be on a standing inventory home...that said, to buy standing inventory, usually they want quick 30 day close...so you better have everything lined up and legit).YellowFever said:You cannot buy the house if you cannot qualify the preapproval process using the builders designated lender (in this case Wells Fargo).
The builder will not allow you to use somebody like East West Bank or something to attempt to qualify.
The builder teams up with a lender for two reasons. One, it keeps the lender consistent with guidelines and ensures that all cases are treated equally and the builder ensures they can close based on IPs stringent rules. Two, the lbuilder probably gets a kickback with the lender by driving so many customers in droves into their sustem.
If you did not qualify with Wells Fargo, which they allow up to 43% DTI and jumbo loan, then clearly you should not be buying the home because most likely you will be living on instant noodles and cereal for a long time. The system is doing you a favor.
What are you trying to buy? Consider buying something cheaper.