Buying a House
in California
- 5-Star Rated Mortgage Broker
- 100% Loan Process Assistance
- Residential and Commercial Loans
- Easy and Flexible Home Buying Process
- Office located in Los Angeles
What type of property are you refinancing?
Single Family
Multifamily
Condominium
Townhouse
How will this property be used?
Primary Residence
Vacation Home
Investment Property
Estimate credit score
Excellent 770+
Good 660-719
Avg. 620-659
Below avg. 580-619
Poor <579
How can we help you today?
Home Purchase
Refinance
What type of property are you purchasing?
Single Family
Multifamily
Condominium
Townhouse
Are you a first-time home buyer?
Yes
No
How will this property be used?
Primary Residence
Vacation Home
Investment Property
Estimate credit score
Excellent 770+
Good 660-719
Avg. 620-659
Below avg. 580-619
Poor <579
Final Step
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Summary
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Buying a House in California with a Mortgage Broker
Homeownership is not only a cornerstone of the American Dream but also an important milestone of adulthood. You want to buy your own house when you realize you want a better future for your kids and a place, which will be a haven for your family.
Buying a home is the best investment you can make in life, and it will stay with your family for generations. Real estate in California is not cheap, and you can spend your life trying to save funds to buy a house. Fortunately, there are many mortgage loan programs that we can offer to you, which makes purchasing a home affordable.
The Best Home Loan Options in California
First Time Home Buyer Loans
There are several government programs that let first time home buyers get a mortgage. When you change from paying the rent to paying off your mortgage, it seems like an expensive step. However, you can be flexible with down payment requirements, credit scores, and special programs for first-time homebuyers. Learn more.
Second / Vacation Home Mortgage
A vacation home mortgage loan allows you to buy a second house in a vacation spot of your dreams. You will always have a perfect place to escape from daily life cares and can eventually turn this place into your permanent residence. We will help you find a mortgage loan lender for a second home on the best terms. Learn more.
Investment Property Loans
Investing in real estate is very profitable and secure. It will be bringing you dividends for years. While your mortgage payments will not increase rent prices are likely to grow. So, you can rent out your properties and have a cash flow that will be supporting your family. Learn more.
FHA Loans
FHA (Federal Housing Administration) loans are supported by the government agency, and lenders are more willing to give substantial loans even to borrowers with bad credit history. This is the most accessible type of loan to qualify for with easy qualifying requirements and rather low down payment. Learn more.
VA Loans
If you are a veteran, guard or reserve member or in current active service, then you can obtain a Certificate of Eligibility for a Veteran Home loan. With this loan, you can get a house with zero down payment. Learn more.
In-Person at LA Office
1810 W Burbank Blvd #150, Burbank, CA 91506
Cell-phone
M-F 10 AM-5 PM (PST)
On-line
Simply e-mail or use online-chat
The Benefits of Owning a Home in California
Investment in Real Estate
Unlike rent prices, mortgages don’t rise. You can refinance and get even more beneficial terms on your mortgage. This gives a sense of financial stability: you know how much you need to pay every month and you can budget accordingly.
Being the Owner
When you buy a home, you can arrange it the way you want, make the necessary home improvements, choose the style, or rearrange the spaces. You don’t have to ask the landlord’s permission for anything. Besides, every time you pay your mortgage, you build equity in your home.
Place to Live
You will have a sense of accomplishment knowing that you worked hard and now you own your place, your children have their home, and you will have less financial stress. To put it simply – you will be happier owning a house!
Safe Place
You and your children will have a feeling of safety and security. You get to know your neighbors and make friends. A community where everyone owns their homes take care of their neighborhood. You will have a safe environment to live in.
Buying a Home - Mortgage Process
4-Steps to Your Success
Step 1 - Pre-Qualification
Talk to us to know your options.
Step 2 - Find Your Dream Home
Enjoy a home shopping experience.
Step 3 - Pre-Approval
Get a loan approval on the terms you want.
Step 4 - Closing
Enjoy your homeownership!
Applying for a Home Loan in California
Are you still paying rent every month and listening to your landlord about what you can do and what you can’t? Stop paying rent every month, invest in your own home instead. This is the best investment in Los Angeles and California for you because your money will be secured by real estate.
Don’t hesitate, apply for a mortgage loan online and we will guide you and make sure that you have the best mortgage program available with affordable rates and great terms.
Buying a House in California FAQ
What are the basic requirements to purchase a house in California?
To buy a house in California, you would need a stable income, reasonable credit (usually 620 or higher for most loan programs), a down payment typically ranging from 10-20% of the purchase price, and an employment history with proof of assets. Getting pre-approved for a mortgage through a broker such as ourselves can really help simplify the process of house hunting.
How much should I save for a down payment in California?
The standard down payment is 20% of the house’s price, but with certain loans, such as FHA or VA loans, the down payment can be as low as 3% to 5%. Saving more than the minimum will help reduce your monthly payment amount and possibly eliminate the need to pay private mortgage insurance (PMI).
What mortgage loan programs are available for California homebuyers?
There are several programs available to suit your particular needs, including:
- Conventional loans: These are ideal, provided you have strong credit and stable income.
- FHA loans: These require lower credit scores and down payments, perfect for first-time buyers.
- VA loans: perfect for veterans and active military members since there is no requirement for a down payment.
- Jumbo loans: these are for homes that are relatively pricey and above conventional loan limits.
- VOE loans: for buyers with no traditional income documentation.
What additional costs should I consider when buying a home in California?
Aside from the down payment, add 2-5% closing costs of the sale price, your property taxes, your homeowner’s insurance, and possibly private mortgage insurance if you put less than 20% down. And don’t even get me started on maintenance and homeowner association fees.
What factors should I consider when choosing a neighborhood in Los Angeles?
Consider factors such as distance to work, good school districts, safety, amenities, availability of public transportation, and planned future development. On the other hand, Los Angeles is made up of several neighborhoods, each with its special characteristics and property values. Thus, do your homework and pick the one that best suits your needs.
How long does the homebuying process typically take?
Once pre-approved, the closing process typically takes 30-60 days, depending on various terms. These include pre-approval, locating the property, making an offer, conducting an inspection, finalizing the loan, and closing.
What should I do to prepare my credit before applying for a mortgage?
Check your credit report for errors, pay down outstanding debts, avoid new lines of credit, and make all your payments on time. These can help improve your credit score and help you negotiate better mortgage terms.
Can I use gift funds for my down payment?
Yes, many loan programs allow down payments using gift funds from family members. Just make sure to document the source and provide a gift letter confirming that the funds are a gift and not a loan.
Why should I work with an ID mortgage broker to buy a house in California?
You get personalized counseling with us, an experienced broker, and have wide access to lenders and loan programs to suit your financial needs. We make it smooth and represent you in the process.
How can I start my homebuying journey in California today?
How does it work? Contact us at ID Mortgage Broker! We will guide you through pre-approval, introduce you to great real estate agents, and find the best loan program to fit your needs. Begin now by setting an appointment with our specialist today.
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