If you are thinking about purchasing a home, doing it sooner rather than later could be ideal.
That is because a new forecast from CoreLogic predicts that home price increases will gain momentum over the next year. Specifically, the CoreLogic report indicates that there will be a 5.4 percent boost in price gains over the next 12 months. The gain pace in July was 3.6 percent.
HousingWire associates the prediction to decreasing inventory and low mortgage rates* are part of the reason.
If you are a first-time homebuyer in the Roseville area and are wondering what the next step in the purchase is – we’ve got you covered!
The first step for the homebuying process should begin with a pre-approval. A pre-approval from a lender will allow you to understand how much of a home you can afford and what you might pay on a monthly basis. Once a pre-approval is obtained, you can begin selecting a loan program (Adjustable v. Fixed-Rate, Conventional, FHA, VA, USDA, etc.) that fits your particular financial situation and start looking at listings.
Once your loan program has been selected and you have found a home with your real estate agent, you can go through the Loan Application and Underwriting process. During these steps, various aspects of your financial history will be analyzed to assure the lender that you will be able to fulfill your payments on the loan. Once everything clears, your loan is approved and you move to the last step of the process: signing all of the paperwork and getting the title in your name, and of course, the keys to your new home!
If you are thinking about taking the next step and taking advantage of this potential window of opportunity in the market, make sure to contact us. One of our loan officers would be happy to sit down with you and get to know you and what your financial goals are.
*©2019 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply.