Answers
What is the best Mortgage rate that a couple get in southern Cali when trying to get a house.?
I want to know a what im going to be looking at when my wife and i start house hunting . we are first time buyers are creadit scores are in the lower 800 and upper 700.
Answers:
John, your credit scores are excellent. That's one of the key parameters. The others are debt-to-income ratio and loan-to-value ratio, or how much down payment you have. Generally speaking, 30 year fixed rates have just dipped back to around 6 percent, plus or minus depending on the loan program. The more specific question for you is, what is the best program for you based on your particulars? Will you be moving up from this home within a few years? Will you be getting significant pay raises? You need to spend 10 minutes or so with a qualified mortgage guy to know you are doing the right thing. Don't get 'rubber-stamped' into something that's not best for you. If you need any additional advice, contact me directly. I'm happy to help.
Here in SoCal, First Time Home Buyers can still get 100% financing, AND get down payment assitance. Visit www.FTHBLA.com for more details. We utilize state backed bond money for the financing which gives you below market financing. Combined with Down Payment Assistance, you get the best of low rates, lower monthly payments, and more cash left in your pocket. So, check out www.FTHBLA.com and www.StraightTalkRE.com for up to date info.