So You Want to Buy a House?

Congratulations on beginning the journey of buying a

Patience and preparation are keys to homeownership in California, here are a few guidelines:


Here are the basic requirements:
1) Working minimum 2 years.
2) Taxes filed minimum 2 years.
3) Have a stable credit score (about 620, score varies with each bank).
4) Have money in the bank for the down payment and closing costs.
Down payment is about 3.5% of the price of the house (ex. House price: $450,000 down payment is $15,750). Closing costs range between $7,000-$10,000.


The best thing to do next is speak with a Mortgage Lender. They will need to review:
1) 2 years taxes
2) Pay-stubs for 2 months
3) Bank statement for 2 months
4) Social Security & ID
Let me know if you would like me to have a Mortgage Banker contact you 323-543-1881.


After a bank has “Pre- approved” or “Pre- qualified” you for an amount. You are in a better position to begin looking and making offers on homes.

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