GayREAD.com Library
Frequently asked Questions and Answers
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How much money should
you have saved to buy homes in San Diego?
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The traditional rule for homebuyers
has been 20% of the purchase price plus expenses. However,
with home prices sailing into the $200,000-$300,000 range
and beyond, this can seem quite prohibitive. There are lots
of other ways to spend your money: keeping up with fashion
trends, taking those fabulous vacations, raising a rainbow
family, etc. And while you are saving, you may be throwing
thousands of dollars away on rent instead of taking advantage
of the tax benefits of homeownership. All the while home prices
are rising and getting out of reach for the "average" couple.
The new rule of thumb is to buy as soon as you are comfortable
enough in your relationship (or in your singlehood) to take
on what may be the largest investment of your life. There
are loans out there for everyone. Today interest rates are
very low by historical standards. Not everybody qualifies
for the low rates seen on billboards or on TV. The amount
of money you put down, your credit scores, income, the length
of the loan, and other factors all affect the interest rate.
I can put you in touch with G&L and G&L friendly lenders that
can take you through the lending process and get you qualified
to go shopping for your future home. The time is now to call
me at 619-379-2886, and "Let's Talk Real Estate!"
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Answered by
Drew Cross of San Diego,
California |
