Loan programs are available where up to $300,700 can be borrowed. There
are a few lenders offering zero down jumbo mortgages over $300,700. The
best way to buy your first home for no cash out of your pocket is to
qualify for a 100 percent mortgage where the borrower receives a
pre-approval letter or certificate from the lender.
Getting pre approved will help determine what price range to be looking
in for California real estate. Many first-time borrowers confuse being
“pre-qualified” with being “pre-approved.” Pre-qualification is a pretty
casual process, where you are told how much money can probably be
borrowed based on income and existing debt.
It is very important to take into consideration expenses for things like
repairs and maintenance that are currently paid for by your landlord.
In the eyes of the seller a pre-approved buyer is far more credible than
a pre-qualified one. To obtain pre-approval letter a formal loan
application is submitted with all the relevant documentation. Everything
is verified and credit is checked, then the California mortgage lender
agrees in writing to make the loan. The loan will be subject to a
satisfactory property appraisal and title search.
With interest rates as low as they are right now, this is arguably the
best time for first time home buyers to enter the real estate market.
For more information about California first time home buyer mortgage
loans, or the free pre approval process please call 866 398 4664 or go
In addition to first time home buyer programs, GoldMedalMortgage.com
offers home improvement loans, home equity loans, and debt consolidation
loans through participating partners.
FreeFinancialConsulting.com offers free, no obligation, advice in all
areas of personal finance including insurance and home loans. In
addition to California reverse mortgage information, advice on other
mortgage products such as refinance and debt consolidation is available.
By Keith Hunt
Keywords and misspelling: investmint investing intesters
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