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1. listwithclever.com › real-estate-blog › 8-steps-to8 Steps to Buying a House in California (2024 Update)

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   Aug 30, 2024 · Step 1: Save for a down payment. Your down payment is the first part of your home's purchase price that you pay at closing. Your mortgage lender pays the remaining balance. A down payment can be up to 20% of the home's final price. In California, that could mean paying up to $169,400 for a $773,200 home.

2. www.calhfa.ca.gov › homebuyerSteps to Buying a Home | CA Housing Finance Agency - California

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   CalHFA does not accept loan applications directly. A CalHFA approved Lender will qualify you for a home loan, so you will need to apply with one of our Preferred Loan Officers or approved Lenders (See Step 2). You can find the details about CalHFA mortgage loans by clicking the “Loan Programs” tab above.

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4. www.redfin.com › blog › buying-a-house-in-californiaThe Ultimate Guide to Buying a House in California - Redfin

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   Apr 13, 2023 · The credit score required to buy a house in California will depend on the mortgage loan you are applying for. Generally, a credit score of 620 or higher is considered a good score for a conventional mortgage loan. Government-backed loans such as FHA loans may accept lower credit scores, sometimes as low as 500.

5. www.fool.com › best-california-mortgage-lendersBest California Mortgage Lenders for 2024 | The Motley Fool

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   Mar 12, 2024 · 4.5/5. Bottom Line. New American Funding is one of the largest privately owned direct mortgage lenders in the country. The lender offers competitive rates and a wide variety of loans and ...

6. dre.ca.gov › Consumers › InformationForHomebuyersInformation for Homebuyers - DRE - California Department of ...

   dre.ca.gov › Consumers › InformationForHomebuyers

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   Normally, you need to have enough savings to cover a down payment of 5% to 20% of the purchase price plus an additional 3% to 7% of this price for closing costs. If you do not have the down payment, you may be able to qualify for a loan under various government programs that are available.

7. www.forbes.com › best-mortgage-lenders-californiaBest California Mortgage Lenders Of 2024 - Forbes

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   Nov 4, 2024 · For 2024, the one-family loan limit is $498,257 in most counties. The limit increases to $763,600 for the Sacramento metro area, $1,006,250 for the San Diego metro area and $1,149,825 for the Los ...

8. People also ask

   Do I need a state-based lender to buy a house in California?

   • You don't necessarily need to use a state-based lender when buying a house in California. Many national and online lenders are licensed to provide mortgage loans in California and may provide better rates and terms. Start zooming in on the best neighborhoods where home prices fall within your budget, and consider what you want out of your home.

   8 Steps to Buying a House in California (2024 Update) - Clever Real Estate

   listwithclever.com/real-estate-blog/8-steps-to-buying-a-house-in-california/

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   Can you buy a home in California?

   • However, the housing market in California can feel daunting. The median price tag of a home here was more than $774,000 at the end of 2022, according to the California Association of Realtors. Buying a home here is possible, though. If you’ve been California dreaming, here’s a look at how to approach the state’s home buying process.

   Buying A House In California In 7 Steps - Bankrate

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   Which California Homebuyer programs are available?

   • HUD has a list of additional California homebuyer programs on its website. Government-backed loans, like Federal Housing Administration (FHA) loans, allow a minimum down payment of 3.5% toward your home's purchase. To be eligible for a 3.5% FHA loan, you need a minimum credit score of 580.

   8 Steps to Buying a House in California (2024 Update) - Clever Real Estate

   listwithclever.com/real-estate-blog/8-steps-to-buying-a-house-in-california/

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   How much money do you need to buy a house in California?

   • For example, if you’re buying a place for $500,000, you would need at least $15,000 (plus enough to cover closing costs). So, the first step of buying a house in California is cutting back on your spending and putting together a strategy for saving up a down payment.

   Buying A House In California In 7 Steps - Bankrate

   www.bankrate.com/real-estate/buying-a-house-in-california/

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   How do I buy a house in California?

   • When buying a house in California, determining a budget that aligns with your financial situation is essential. Using tools such as an affordability calculator can help you understand how much you can afford to pay each month. However, when setting a budget, it’s important to factor in additional costs such as down payments and closing costs.

   The Ultimate Guide to Buying a House in California - Redfin

   www.redfin.com/blog/buying-a-house-in-california/

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   Is buying a house in California a good investment?

   • California makes a great home, with stunning ocean views, challenging mountain hikes and tranquil desert towns. However, the cost of living here is high, as are home prices, and the natural beauty comes with natural risks, like wildfires and earthquakes. Even so, buying a house in California is likely to be a wise investment.

   Buying A House In California In 7 Steps - Bankrate

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9. www.bankrate.com › buying-a-house-in-californiaBuying A House In California In 7 Steps - Bankrate

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   Feb 8, 2023 · How to buy a house in California. 1. Save for a down payment. The average down payment on a new home in California was $103,000 in the spring of 2022. That’s a staggeringly high sum if you’re ...