Get first time home buyer advice and a pre-approval
Planning is a very crucial part for a first time home buyer and since everyone’s finances are delegated differently, it’s important to get a clear idea of exactly what documentation and how much income is going to be required in order to qualify for a loan. Before spending hours and day looking at listings of homes Los Angeles you think you will qualify to purchase, it’s best to know exactly how much is going to be required to purchase a home.
Get a first time home buyers pre-approval today
In today’s tight market purchasing a home may seem like a lengthy and difficult process, that’s why it’s best to get a pre-approval with a lender that is always standing by to make sure the difficulties in regards to the lending end are taken care of.
Benefits of buying your first home
- One of the advantages of buying a home are tax deductions. Some of these deduction include mortgage interest, as well as your initial payment for upfront mortgage interest.
- Use your mortgage as a mini piggy-bank. Paying your mortgage principal also builds equity and may be accessed during a cash-out refinance program for future investments and opportunities.
- Improve your credit standing by paying your mortgage on time. Owning a home can improve your credit standing by making timely payments a positive reflection will increase your FICO score making future financing opportunities a breeze .
- Taking pride of home ownership also brings freedom from lease terms and restrictions.
- Calculate the difference in costs between renting and buying a home with our calculator.
Popular Loan Options for first time home buyers
- 30 Year Fixed Loan
- 3% Down Conventional Option – Great for option to buy a home with a low down payment for borrowers with good credit.
- FHA Loan – Best for borrowers with low credits scores, low down payment requirements, foreclosures, short sales and bankruptcy