Best of Luck!
If you like, please e-mail me, sebastian [at] wllending [dot] com or call our office number. We will make sure you get in touch with a few stellar mortgage consultants and get you on the right track. Best of luck!
Give me a call to get prequalifed, if you think you can find a $300,000 house in Oakland.
NMLS licence 287206
Eddie W. de Leon
Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
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Here are top 4 tips how to come up with a down payment..
It may be possible and you'll have to research what's available in Alameda County in terms of down payment assistance (DPA) or any special programs. These might have individual requirements for property price and/or income amount. But do a Google search and see what you find.
The other options are FHA and VA. If you are a veteran, you can put down 0%. If FHA, then 3.5% --- which may indeed be worth saving for.
I cover all of this in my free homebuyer webinars, the next of which will be on May 7. Please feel free to join us!
Best of Luck!