Becoming a Homeowner Remains Affordable – Santa Monica Real Estate

Becoming a homeowner continues to make up the so-called American dream, and the current mortgage market offers buyers high affordability with low prices and record-low mortgage rates.

It is important to keep finances in mind when considering purchasing a home, and the affordable market is perfect for first-time buyers. Recently, the housing market has seen more activity meaning more people are investing in the dream of owning a home.

When looking for a mortgage, I would suggest shopping around before making a decision. and it is acceptable to seek pre-qualification which will give buyers a better estimate on a loan amount they will likely be offered from lenders before deciding on an actual home.

It is still a buyer’s market. Homeowners should acknowledge there is competition. Having a jumpstart on paperwork such as being pre-qualified or pre-approved will help sellers know that the homeowner is serious about buying and it can also speed up the closing process.

Comments
  • John Slocum
    Reply

    We agree, Deborah. Any opportunity to purchase in Santa Monica, especially now, should be looked at. We visited their this summer and our son is ready to move there and swim in the ocean every day. Where else can you do that?

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