This is currently the lowest priced Bank Owned Foreclosure detached home on the market for sale in Aliso Viejo.   The price was just reduced on October 6th to $485,000.  It’s a 2 bedroom, 2.5 bath, 1,200 square foot home with a 2 car garage and a full length driveway.

The previous owner installed some nice upgrades such as tile flooring, custom window coverings, and very nice landscaping.  It’s in pretty clean and basically move-in condition.  The association dues are about $98 per month and $25 per month for the city of Aliso Viejo. 

This Bank Owned Foreclosure is located on Andaluz street in the desirable San Simeon tract of Aliso Viejo.  The Bank is currently offering to pay for $5,000 of the Buyers closing costs.  This home could be purchased using several Zero Down loan programs that are government subsidized which are CalHFA loans, Acorn loans, CalVet and VA loans.  These loan programs offer below market fixed interest rates ranging from 5.5% to 6.9%, fully amortized over 30 years, with no negative amortization and no pre-payment penalty.  At 5.5% the Principal and Interest payment would be $2,754 per month, and at the 6.9% fixed interest, P&I payment would be $3,194 per month.  With the combination of the Zero Down loan and the $5,000 seller credit, one could possibly buy this home with only a few Thousand dollars out of pocket…

There are some exciting opportunities in the market today.  If you would like to see the inside of the home for sale, then give us a call…  If you want to work with a professional who will go to bat for you in tough negotiations to get the lowest possible price, then give us a call…  If you want more information on these little known Zero Down, below market, government subsidized loan programs, give us a call at:  949-388-3396 or email us at:  Info@SearchOCHomes.com