If you are a first time homebuyer in Los Angeles county, you are quickly going to discover you have some challenges ahead of you. In fact, perhaps you have already started the process of shopping for your Los Angeles dream home, only to find that you are having a tough time locating a home you can afford.
In a city where housing costs far outpace incomes, this is a common predicament. The median value of a home in L.A. is reported to be $626,800 as of 2017, and is continuing to rise. The average income in Los Angeles is around $40,000 per year short of what is needed to afford such a home.
If this is your first home, chances are good that you yourself are still working on climbing your way up the income ladder, so your income-to-debt ratio may be less than stellar. You may have a short credit history or a low credit score. You might not be able to afford a large down payment, and you might wonder how you will ever pay your premiums—and that is assuming you can get a lender to accept you.
How We Can Help You Move into Your First Home in Los Angeles
We know how frustrating this situation can be. It leaves many first time home-buyers in Los Angeles, CA, wonder if they will ever be able to afford to live in the City of Angels.
But remember, you are not the only person to find yourself in this situation. A lot of newcomers to L.A. struggle to buy their first home. We have helped many of these homebuyers to settle down in our beautiful, sunny city—and we can help you too.
- We can acquaint you with the home buying process, answering all your questions and providing you with first time homebuyer Los Angeles tips and inside information.
- There are first time homebuyer programs in Los Angeles which can help you move into your dream home. These programs keep origination fees and interest rates low.
- We can check whether you qualify for an FHA loan in Los Angeles. This is a federal government-backed loan program which helps to further reduce your premiums and required down payment. Even if you do not have an excellent credit rating, you might be eligible for a down payment as low as 3.5%. If applicable, we can also help you check into VA home loans in Los Angeles.
- We are connected to a network of lenders offering competitive rates and terms on first time home buyer loans in Los Angeles. Our lenders even offer exclusive discounts to our customers which are not publicly advertised.
See what our clients say about us
Tony - Orange, California
Tracy - Los Angeles, California
Javier - West Covina
Ready to Move into the Home of Your Dreams? Give Pacshores a Call Today
It may not feel like it right now, but your Los Angeles dream home is waiting. Once you are acquainted with some of the local and federal programs which can help you out as a first time homebuyer in L.A., you may be surprised at what you can afford.
Give Pacshores a call today.
and we will help you move into your first home in Los Angeles!