You got questions?
Well, we have the answers. Most buyers take months of planning before starting the home buying process. We want to be part of that process with you. Let us answer your questions, guide you through the process and give you suggestions along the way.
We are here to help and we mean it! Use the form below to find out more!
Common First-Time Buyer Questions:
Who qualifies as a first-time home buyer? While this question seems obvious (someone who never owned a home before) it's actually based on your tax returns. Generally Fannie Mae (and so almost everyone else) considers someone who hasn't owned a home in the last three years a first-time hope buyer. Also, there are programs such as FHA and others that don't have a first-time buyer restriction.
Any good tips for first-time buyers? Several come to mind:
How much money do I need saved up? This varies based on the loan program. Some, such as VA or some State or City enhanced programs don't require a down payment, while others require small amounts. Basically, the more you are able to put down the better your loan terms will be but you shouldn't put off buying a house for three years just to save up. With California's appreciating real estate market, if you plan to keep the home ten years or more, then the sooner you purchase the better.
What if I don't know if I can qualify? Here is where we excel. At Eastlake Funding, if you're not quite there yet (credit score too low, debts too high, etc.) we don't just say "No" and send you out the door... we work with you to help you reach your homeownership goals. Here are some examples of what we can do for you:
Any other questions?
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