If you’re buying a condo or loft for sale in Little Tokyo, it’s a good idea to gather as much information as you can – and these three tips for homebuyers are a good start.
3 Tips for Homebuyers in Little Tokyo
First things first: Call a great Realtor® who can help you through the entire home-buying process. Then, follow these three tips for buyers.
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1. Save for a Down Payment
The higher your down payment is, the less money you have to borrow from the bank to buy your condo or loft. That measn your monthly mortgage payments will be lower -0 and if you save up more than 20 percent of the home’s purchase price, you own’t have to buy private mortgage insurance. (That can save you a significant amount of money iover time.
2. Compare Lenders
You can – and should – get rate quotes from more than one lender. You won’t know who’s willing to offer you the best terms and rates if you don’t call around for multiple quotes. You can use a service like LendingTree or you can work with a mortgage broker; the point is doing something that works best for you.
3. Get Preapproval
You need mortgage preapproval before you shop for a home. That way, you’ll know how much house you can afford – and if you stumble upon your dream home, you can make an offer quickly.
Are You Buying a Loft or Condo in Little Tokyo?
If you’re thinking about buying a condo in Los Angeles or a nearby community, call us at 213-254-7626 or contact us online. While you’re here, check out our: