Home Buying California
Home buying California can be an exciting time but there’s a lot to consider. From the different loan programs available for first time home buyers to the affordability and loan term there a lot of great things you can do. Read up, educate yourself. When you’re done with that please give me a call for a no obligation consultation. After 20 plus years dong mortgage loans in California I just might have some suggestions on you can make the most of your purchase.
First Time Home Buyers
The are a number of great loan programs for first time home buyers in California. FHA Loans are considered the “first time buyer loan” because of the low down payment feature. The FHA also has a rehab loan that can help to make your dollar stretch even further. So, There’s more than the down payment to consider. Debt ratios, the ability to document your income and of course your credit score can all impact your ability to qualify and buy your first home in California. Learn More
How Much House Can I Afford?
Housing affordability has been a major issue in the US for some time now. While prices have gone up in California we still have much lower home prices some of our neighbors. For most of us it’s a trade off between the house you want and the one you can afford. Over extending yourself when buying a home in California can leave you house rich and cash poor. So, Here’s more info on how lenders look at it and what you should consider when making the purchase of your life. Learn More
30 year vs 15 year loan term
How long a loan term should I choose? A 30 year loan has a lower monthly payment and only a slightly higher interest rate than a 15 year fixed. You can alway make extra payments if you choose and we all know that lenders will never take less than you owe. So, There’s another way better than making extra payments or going for the shorter term. Learn More
FHA Loans – Pros and Cons
FHA Loans are the only way many people can get into a home with down payments of as little as 3.5%. They also have easier debt ratios to qualify for. However, there are some additional fees that can make a conventional loan a more attractive option. So,You can get a conventional loan with just 3% – 5% and save some money on fees. Learn More