California real estate is experiencing some stabilization in home prices but as of this blog rates gave come down due to market volatility and with rental rates expected to increase in 2015, you should start you path towards homeownership. It does not hurt to explore your options in owning a home, you will at least know from a mortgage professional who can direct you in the right direction to purchase a house in California.

With the VA and USDA home loan program in Southern California, your are in luck, these 2 lending programs are the best purchase options on the market. Click on the link to learn more about these mortgage programs. It does not take an enormous amount of money to purchase a home in California with one of these 2 programs.

There are 2 additional loan programs that requires as little as 3% down payment with Fannie Mae and 3.5% down payment with FHA. The benefit with these 2 programs is that they allow gift funds and a down payment assistance home loan program to assist you the required buyer's contribution. As you can see we can locate money for you to purchase a home.

There are 3 buckets of cost when purchasing a property:

1. Down payment, each lending program will have their own guidelines and this mostly based on your middle credit score
2. Out off pocket costs, home inspection, termite report, credit report and appraisal
3. Closing Cost, can be gifted, seller can pay for them, increase the interest to cover, down payment assistance

As I mentioned earlier, it does not hurt to explore your options in buying a home. You will at least know from a licensed mortgage professional if you meet all the lending guidelines to purchase now or will need to work on credit, income or down payment to purchase from 90 days or longer.

Click HERE and lets discuss your options of owning a home. We can create a blue print together that fits your budget and needs. Working with the right professionals that have your best in mind will make for a smooth and exciting home buying experience when looking to purchase property in Southern California!