Real Estate's Directory

Many people would agree that owning your own home is a definition of living the American dream. But with recent economic turmoil, the practice has proven to be difficult for some people and even impossible for most. Real estate pricing has increased through the years making it hard for people to purchase their dream house. Contra Costa County Real Estate Report shows that in August 2013, the median sales price was up an astounding 62.5% year-over-year, which has continuously increased over the past nine months, while the Walnut Creek homes for sale, specifically re-sale homes were down 26.1% over the years. This means people are holding onto their valuable assets and caused a decrease in homes for sale, which resulting in an increasing house price.

However, there are some programs that allow home ownership to still be a reachable dream for you. One of them is mortgage. Applying for a mortgage can be a daunting process, but once you are qualified, you’ll be able to live in the perfect house you’ve been dreaming of without getting broke financially. Before you’re approved for a mortgage, the mortgage lenders will need specific information about your financial situation, such as your employment history, your monthly income and expenses, and the house you plan to purchase. With this information, your lender is going to determine the monthly mortgage payment that is affordable for you and won’t make your life difficult, financially.

Approval of a mortgage is based on whether the property you’re buying is worth at least as much as you’re borrowing. Don’t hope for a loan greater than the house value. If the appraisal comes back lower than your accepted offer, try to renegotiate with the house seller or pay the difference, although this requires a lot of cash. With the increasing of Walnut Creek house pricing, a mortgage can be a solution to your American dream.