a Division of American Pacific Mortgage Corporation NMLS 1850
Meet Our Experts

If you are looking to purchase a home in Roseville, get ready, because a new study says that millions of homeowners across the country expect to sell their house sometime within the next two years.

Specifically, the study states that more than 12 million American homeowners (16 percent) are looking to sell sometime in an 18-month timeframe. The reasoning behind this is a shifting real estate market, mainly how it is beginning to move away from a sellers’ market and more toward a buyers’ market. So, sellers may be thinking they should get their house listed before there is less demand and competition among buyers.

Those buyers who are looking to make sure they are in a prime position to land one of these homes as they come on the market may want to prepare now as an increase in inventory could be on the horizon. That begins by understanding the home loan process.

Getting pre-approved is the first and possibly most vital step to take when purchasing a home. That is because getting pre-approved for a home loan gives the buyer confidence in the fact that they will know how much of a home they can afford, what their monthly mortgage payment could be, as well as what their insurance and tax fees would be. In addition, when a buyer puts an offer on a home, if it is backed by a pre-approval the seller may look more favorable at that offer than other offers.

Once a pre-approval is set in stone, it is time to determine the type of loan program that fits within the buyers’ unique financial picture. There are a variety of loans programs, including Conventional, FHA, VA, USDA and more. It will also be important to figure out if a fixed-rate or adjustable-rate mortgage is ideal. This is largely based on how long the buyer expects to live in the home.

Once these two important steps are complete, a home buyer is prepared to submit a loan application and select a home they are interested in purchasing.

If that home happens to be in the Roseville area, our team at Element Mortgage is ready to sit down with you and discuss your financial goals in order to set you on a path toward homeownership. Contact us today for any questions!

Visualize Digital