Here are answers to typical questions about the home buying and selling process:
I'm worried about home prices falling, is this a good time to buy?
The best time to buy is when you find a home you like and can afford. The real estate market will take care of you overtime. The general trend in California is that real estate prices always rise. While there have been temporary "dips" in value, the home prices have never dropped and not recovered. If you purchase a home you like and can afford, you will still be happy even if the market values drop temporarily. On the other hand, if you delay purchasing a home now, it may be more difficult in the future.
How do I qualify for a home loan?
You must be able to demonstrate to your lender that you have the capacity and willingness to consistently make the monthly payment on-time. Generally lenders consider the following factors: 1) The stability of your income sources; 2) The amount of your down payment; and 3) Your credit history. Civic Center Home Loans & Realty offers home financing solutions for all situations. Apply now and we will strcuture a solutions that meets your needs.
Why do I need a real estate broker to sell my home?
Actually you don't - you can try and sell it yourself. However, experience has shown that properties listed for sale through a real estate broker will sell at a higher price and sell more quickly. Additionally, a real estate professional will protect your interests in the sale and make sure that all of the required disclosures are processed and oversee the transaction from start to finish. Civic Center Home Loans & Realty can help you sell your home at the highest possible price and with the least hassle and your listing commission is negoitable based on the real estate services you require. Call (562) 696-3200 to request a free market evaulation of your home.
How can I find out more information about Government Grants and Loans to help me buy a home?
Civic Center Home Loans & Realty is an expert at using government grants and loans. We are an approved lender with the California Housing Finance Agency, the Los Angeles County Community Development Commission and the City of Los Angeles Housing Department. We offer CalHFA first mortgages, "silent" second loans up to $90,000, ADDI loans up to 6% of the home purchase price, CHDAP loans for closing costs, and WISH program loans. We know how to package these loans and make them work together to help you buy your home. Call (562) 696-3200 to schedule an appointment to learn how these exciting programs can help YOU!
I don't have any money for a down payment, so I can't buy a home now, right?
Wrong. Civic Center Home Loans & Realty offers many exciting financing programs that can finance the entire purchase price of the home (no down payment required). Additionally, we can often find ways to cover all or part of your closing costs.
It is impossible for working individuals and families to buy a home in California. Right?
Wrong! Every month Civic Center Home Loans & Realty is proud to help individuals and families purchase their first home in many different communities. In our experience, people who are flexible and committed to the home search and financing process, will succeed.
Does it cost more to work with a Mortgage Broker?
No. Unlike a loan officer who works for a bank, a mortgage broker is able to arrange financing from literally thousands of different sources. In fact, about 70% of all mortgage loans are originated by mortgage brokers. Independent studies show that the fees and total loan costs charged by mortgage brokers are less, on average, than those charged by banks.
Can self-employed people get approved for a home loan?
Yes. Civic Center Home Loans & Realty has a number of different ways to get this done even for owners of business that operate on a cash business.