Are you considering purchasing a new home? This can be a very exciting process, especially if you are a first time home buyer. There are many details that need your attention, such as the selection of FHA home loan lenders or other financial aspects. You also need to look at your priorities. These can include house style, location, proximity to schools and work, along with recreational and shopping sites.
You should find a good real estate agent to help you with this home buying process. You should also find FHA home loan lenders that can help you with first time home buyer benefits. You want both of these professionals to be knowledgeable about your real estate market. If you are considering a home in California, you might be interested to know that in October 2012, home sales in California were up 25.2 percent from October 2011, representing a five year high for that month.
FHA home loan lenders can help determine if you are eligible for these first time home buyers program loans or other down payment loan assistance programs. FHA home loan lenders will let you know that a down payment of just 3.5 percent is all that is required. This represents a fraction of down payment amount required on most other loans.
FHA home loan lenders can also help you with the California Homebuyers Down Payment Assistance program. This is a deferred payment junior loan that represents up to 3 percent of the purchase or appraised price, which ever is less, that can be used for a down payment or closing costs. You should ask FHA home loan lenders about these programs to help you purchase your new home.
During the initial process of looking at homes for sale, you should bring along a camera to document features of each home. Make sure you capture the house number so you can remember each home.
After narrowing down your search, ask your real estate agent to set up return visits to the houses that interest you the most. You should also keep in touch with FHA home loan lenders.
Once you have found the home you want to buy, your real estate agent will guide you through the process, as well as finalizing loans through FHA home loan lenders.
Helpful research also found here.