First time home buyer mortgage challenge
Last updated on December 12th, 2017 at 02:46 am
Many home buyers, regardless of being experienced or a first time buyers; will have to work with a lending institution and a loan officer. It is often seen, felt that first time home buyers are very much likely faced, report challenges of understanding the mortgage process. Moreover they first time home buyers do not question, understand the terms, rates, timelines, program options available to them.
Of First time home buyers:
- 41% mentioned their representative complete explained the type of loans, terms, special programs, fees and options to reduce the down payment.
- 43% do not completely understand the process.
- 44% reported the closing agent did not completely explain all of the closing documents.
- 54% do not fully understand the different options available to them.
Source: J.D. Power U.S.
Experienced home buyers being more familiar with the procedure are not challenged as much. Making the home buying process a much easier task.
Conquer the challenges of a first time home buyer! If you are an experienced or a first time home buyer, looking for to purchase a home or a commercial property in California; let us help you through this process.
Kevin Maalizadeh, Realtor
Please call or e-mail me us.
Tel: (213) 622-2888
