I've been looking for the perfect home for a while.But after a few years of waiting, I finally found it.I knew I wanted a two-bedroom, two-bathroom home, with an attached garage, that was located near the river.I also knew I needed a backyard.So I put down my deposit, and in December of 2015, I walked into the Realtor's office in the River Oaks section of San Francisco.He was so happy to see me.I ...
Buyers seeking to buy their first home in California will need to spend between $2.4 million and $2,849,000 on a $1 million down payment, according to an article on real estate listings website Realtor.com.
The average home price in the Golden State is $1.1 million, according the article.
Real estate companies can offer mortgage refinancing to buyers who qualify for the federal mortgage modification program.
Real estate companies offer mortgage and property tax rebates, as well as an extended warranty on homes.
«If you can put down more than $1,000,000 and are ready to get serious about buying your dream home, it’s definitely a good option,» Realtors.com’s Joe Vazaro told ABC News.
If you’re looking to buy your first home and want to maximize your returns, here are some tips for getting the best deal: Get an offer for the house that will maximize your return.
Realtressors.org estimates the average home sale price in California is $2-2.5 million.
The typical price is closer to $2 and up in the San Francisco Bay Area, according a Realtortoday.com report.
But if you are looking to save even more, check out the prices of other California communities.
In San Mateo County, the median home sale is $5 million, the most in the state, according Realtored.com, which tracks listings in the area.
In Orange County, median sales are between $1-1.5, and the median price is $6.8 million.
Get a home loan that gives you the best rate of return.
Many lenders offer mortgage-to-value (MV) financing.
But there are still a lot of questions and issues to be worked out.
The National Association of Realtories has a mortgage calculator, which allows you to compare rates between lenders, including FICO scores.
In some cases, you can compare lenders that offer a lower-rate financing option, like a traditional loan, versus a higher-rate option, such as a home equity loan, which offers a higher rate of interest.
You can also check the interest rates on loans you may have made and compare the rates for different types of loans, such a auto loan, home equity, and student loans.
If you are considering a mortgage, be sure to ask the lender to make sure you qualify for a higher credit score, such the one available to borrowers with higher incomes.
If the loan is on a credit card, make sure it is a low-interest, monthly payment plan that does not exceed your income, according To qualify for such a loan, you need to have at least three years of payments and a payment rate above 5.5 percent.
Be sure to include all of the information on your credit report, including the terms of your mortgage and any delinquencies, according with the National Association.
Check out the real estate market for a list of home sellers in your area.
Ask if the property is available in your zip code.
If it is, you may want to start your search in a different area.
You may need to be more selective if you’re considering a property near a major airport, which is why it’s a good idea to look for listings in other cities and areas where the commute to the airport is relatively short, according Vazar.