February 9th, 2013 8:46 AM by Nathan Rufty
Purchasing a home should not be a stress-free or scary. It does not hurt to explore the option to purchase a home, kicking the tires might surprise you that owning does not cost that much and can be much more affordable than renting.
Think about it, you have to live somewhere. Weather it be with family, friends (who wants to live at those places), rent an apartment or a home and that will cost you first months and a deposit right off the bat to move. That money can be used towards a down payment on a home of your own. Rent is anywhere from $1500 and up depending on your market in California. With a rent of $1500 a month that can purchase you around a $220,000 home, still a lot of those on the market.
Interest rates for a home loan are still extremely low and should not be passed up. With rates where they have been for years, the only place they have been going the past couple of weeks is up, get your tax refund and lets get started on owning a home before this opportunity passes you by. And what I mean by that is: the rates and the value of homes will continue to increase and that increase will push you out of the market, either by the prices or the rate. That adjustment now is outside your budget for a $220,0000 home because that home is now selling at $250,000 and that rate is higher making the payment at $2000 verses the $1500 before.
Being a first time home buyer looking to purchase in California with a down payment assistance program and utilizing FHA financing, a Veteran looking to take advantage of their VA benefit to purchase with no money down, a buyer seeking out a rural area of a county and would like to know more about the USDA-RD home loan at 100% financing or move up buyers, I welcome the opportunity to assist you with the process of purchasing a home.