Keys to Buying a Home in California

In the current real estate market in California we are seeing lots of homes on the market for sale yet buying these homes can be more difficult than you may think.

Getting a home into contract may be easy for some homes and difficult for others yet in the end the financing seems to be a huge stumbling block. Mortgage lending has been a black sheep for a few years now with loan programs going away and qualifying becoming more and more difficult as time passes.

FHA loan seem to be the hot ticket these days with many homes using this Government loan to qualify to buy their home. The guidelines are strict and the paperwork lengthy but in the end the rates are good and the terms are basic.

Those who can afford the down payment are finding that loans are also difficult to qualify for thanks to tightening loan guidelines. These programs are also very good once you qualify but be prepared to jump through hoops that you may never have been through before. Also, be prepared for your income to be over analyzed they are looking for a reason NOT to do your loan!

This covers the loan side of things leaving out anything to do with getting an offer accepted, property condition and title and escrow service but the bottom line is that loans are more difficult than ever so be prepared.

As always, I am here to help so please feel free to contact me at Brent@brentlane.net.

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