Attention Renters: Home Affordability at All Time High

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The median home price in California is currently $353,190. Based on this (and assuming a 20% down payment) the monthly mortgage plus taxes and insurance would be $1,670. The income needed to qualify for that purchase is $66,940. 

To put that into perspective there are many cities in Orange, Riverside and LA County where $350,000 will buy a 3 bedroom, 2 bathroom single family home.  

We realize that coming up with the down payment is a daunting task. Just know that there are options that allow for 100% financing (through the veterans administration) and as little as 3-3.5% down for Conventional and FHA financing respectively. 

We are here to answer all of your real estate and lending questions. Contact us today for a private consultation to learn more about buying a home and the necessary steps to take to secure your financing. 

The Wise Team

(714)698-WISE call/text

Dustin@TheWiseTeamOC.com

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