Buying a home in California for the first time can be overwhelming for many first-time buyers. Very few homebuyers know where and how to begin the search to find a suitable one. You, as a first buyer, must know certain facts before buying a house in CA.
1. Budgeting-Budgeting for a CA home is the first most important step. There is no point wasting time and energy in house hunting before you know what you can afford. Therefore, the first step is to assess your finances.
2. Get pre-qualified for loan-Banks, mortgage lenders finance loans and mortgage brokers process them. Fill-up an application with all documents, and see how much you will get as loan and what is the processing cost. Compare and bargain between different mortgage brokers.
3. Consult your lender, if you have a bad credit-Your lender is able to advise you, whether your credit history will prevent you from qualifying for a loan or not and what are the alternatives.
4. Different mortgage types-With so many options available for CA mortgage loan types, it is important to determine if you are a risk taker or prefer more stability in financial dealings.
5. Down payment-It varies...
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