CALIFORNIA,  April 2024 (GTH) – If you are thinking of buying a home in California,  you are probably wondering if this is a good time to start your home search process.

The real answer is,  maybe.

Market demand is high.  Home Inventory is low.  The industry standard thirty-year fixed rate mortgage is currently averaging around 7% according to the financial information published at site – Bankrate.com.

 Will home values and home prices come down anytime soon?

Nobody knows the answer to this.  Those who current own a home likely don’t want to see this happen.  Their home is not only where they live,  it’s an investment.  And for many,  it may be their retirement nest egg.

First Time buyers struggle to qualify,  even those with a 20% down payment.  As a homebuyer, you can take some comfort in knowing that when you buy a home,   you are not married to the mortgage;  you are only dating it.  This means that when interest rates come down,   you may be able to take advantage of  refinancing  or ‘replacing’ your home loan with a new,  lower rate and lower payment loan.  You’re loan officer should stay in touch with you when these options become available.  Of course,  it’s always in your best interest to reach out to him or her when you hear that rates are dropping,  or even send a quick email or text asking if there are any refi opportunities.  Bottom line,  stay connected with your loan officer or you may miss the boat.

So,  what should prospective homebuyers do?

For starters, it doesn’t hurt to take advantage of any available help right now.  There are First Time Buyer Down Payment Assistance programs,  Limited Income Documentation Loan Options for Self-Employed borrowers,  and of course,  THE CALIFORNIA HOMEBUYERS NETWORK – available right here at GoToHome.com.  This allows for a homebuyer closing cost credit of up to $10,000 – available to All who purchase a home in California,  not just first timers.

• Contact a Featured Loan Officer at GoToHome.com to discuss available financing options.
• Contact a Featured Realtor at GoToHome.com to help get you started with your home search.

If you are waiting for the  ‘dust to settle’  hoping that home prices in California dip,  or that mortgage rates come down soon,  you can start today by registering with THE CALIFORNIA HOMEBUYERS NETWORK

Registering is free and easy and you can qualify for up to a $10,000 credit that will help cover all or some of your closing cost when you are ready to buy a home.  This is currently only available for a home purchased in the State of California but it is available for any purchase price up to $3,000,000 or more.

Register Here