Buy A Home

Questions to Ask About the Area Where You are Home Shopping

November 24, 2023 by Mortgage Consultants Group

Shopping for a home is one of the most exciting things you will do in your life. Chances are good you are putting most of your thought and energy into finding your dream home: the right layout and features, and a beautiful design inside and out. But you should not overlook the importance of choosing a lovely home in the right area. Here are some questions to ask as you shop.

1. How close is it to where you work? Let’s say you found your dream home, but it is an hour and a half away from a job you intend to remain at for many years. Then, perhaps, you found another home that is not quite as perfect, but it is just thirty minutes from your workplace. Which do you choose? Many people would take their dream home, figuring they can stand the commute. But after a few years, a long commute can really erode at your feelings for your home. You should strongly consider picking a home that minimizes your commute.

1. How are the schools? If you have children or plan to, make sure that you are buying a home in a great school district.

1. Is the neighborhood safe? How would you feel going out for a walk after dark in the neighborhood where you are home shopping? How would you feel about your kids running around outside unsupervised? It is worth it to pick a safe neighborhood, even if it means paying a little more.

1. How quiet is it? Noisy streets or neighbors may drive some homeowners crazy, while leaving others un-phased. You will need to decide whether the neighborhood will be quiet and peaceful enough for you to live happily.

1. Do you like the aesthetics of your surroundings? Depending on your budget, the appearance of the neighborhood may be one area where you end up compromising. When you are in your home, after all, you do not have to look outside, so you may be able to be contented even in a neighborhood you consider unattractive. If you like to spend a lot of time out in your yard though, or if you are seeking pleasing views through large windows, it may be worth it for you to choose a neighborhood that is as beautiful as the home you are purchasing.

1. Is there a micro-climate? You probably already are familiar with the overall climate where you are shopping for a home. But have you considered the impact of micro-climates? Depending on the exact spot where a house is situated, average temperatures could be a bit warmer or cooler than they are for other homes, sometimes even in the same neighborhood. If you want to save on your heating and cooling costs and live as comfortably as possible throughout the year, you may want to be highly selective with respect to this criteria.

What will happen with this area in the future? All of the things we discussed above have to do with assessing the neighborhood where you will buy a home as it exists presently. But it is important to keep in mind that change is a constant. Try and research the real estate market and zoning regulations for the area. How likely is it that developers might move in? Could a neighborhood that is quiet and open today end up becoming crowded with buildings and people a few years down the road? Keep in mind that future real estate development can also impact the value of your property. On one hand, it is good for your investment for the value of your property to climb. But on the other hand, it can cause your property taxes to rise as well.

Find the Right Mortgage for Your Home Purchase

Now you know more about choosing the right area for your new home. The next step you will need to take is to start shopping for the right mortgage. Mortgage Consultants Group can assist you in Rancho Cordova or anywhere in California. To schedule your consultation now, please give us a call today at (916) 669-1682.

6 Tips for Buying a Home During Times of High Rates

August 24, 2023 by Mortgage Consultants Group

Mortgage rates recently hit 7.23%, which represents the highest they have been since 2001. When shopping for a home during a time with high mortgage rates, you need to work extra hard to find affordable rates. Below are some recommendations that can help.

Choose the right interest rate format. A good thing to ask yourself before you choose a mortgage is, “Do I want a fixed rate or an adjustable rate?
- With an adjustable rate, you start out with a low introductory mortgage rate. After several years with that rate fixed, the rate then is determined by market rates going forward.
- With a fixed rate, you lock in a rate that is permanent for the lifetime of the loan.
  
  The advantage of choosing an adjustable rate mortgage in this scenario is pretty clear. A fixed rate mortgage can work out too though; just plan on refinancing it later.
Learn about the different mortgage types. When you are choosing a mortgage, make sure you look into all of your options—especially those that may help you to qualify for affordable interest rates. In particular, government-backed loan programs like FHA, VA and USDA are great for keeping rates low even without perfect credit. During your consultation, our loan experts can help you explore these different loan programs and figure out what you qualify for.
Enhance your borrower profile. Now is the time to do what you can to make your borrower profile as competitive as possible in order to qualify for the most affordable rates. That means increasing your credit score, and doing the same with your income if you have that option. Try paying off debts to improve your debt-to-income (DTI) ratio if you have the means. And make sure you have properly documented all of your assets. These steps will all be a big help no matter what type of home loan you are applying for.
Increase your down payment size. Are you familiar with the concept of loan-to-value (LTV)? The LTV is the percentage of the home’s value that your lender is loaning you to purchase the property. The rest of the value is what you are paying upfront with your down payment. By raising your down payment amount, you reduce your LTV. When the LTV is lower, so is the risk for the lender. As a result, they may be willing to offer you lower mortgage rates.
Buy your dream home. This might sound like an unexpected bit of advice, but if rates are high, now is the time to really focus your search for your dream home. You may be competing against fewer homebuyers, who could be staying out of the market right now because of the rates. That also means that more properties could be for sale. So, you can shop a wider home selection, and your chances of making a successful offer may have increased.
Work with a mortgage company that goes above and beyond. Another way to handle shopping for a home when mortgage rates are high is to choose an experienced mortgage company that will spare no efforts to bring you affordable rates.

Contact Your Local Mortgage Broker Today!

At Mortgage Consultants Group, we have over 29 years of experience helping homebuyers move affordably into new homes regardless of economic factors. Whether you are shopping for a home in Rancho Cordova or anywhere in California, we can connect you with a flexible mortgage featuring affordable rates. To schedule your consultation now, please give us a call today at (916) 669-1682.

Why Rancho Cordova Is Your Next Home: 5 Compelling Reasons

July 20, 2023 by Mortgage Consultants Group

Rancho Cordova is a city located in Sacramento County, California. It offers a vibrant and diverse community that comes with plenty of opportunities for both residents and tourists. Read on to discover some of the reasons why you should consider moving to Rancho Cordova.

5 Reasons Rancho Cordova Should Be Your Next Home

Move to Rancho Cordova for Its Thriving Economy. Rancho Cordova has a thriving economy, with a large number of companies and businesses operating in the city. The top employers in the area include Dignity Health, VSP Global, and Aerojet Rocketdyne, among others. This means that you’ll have plenty of job opportunities if you’re looking to move to the area. The city also has a business-friendly environment, with low taxes and a streamlined permitting process. This has attracted many companies to the area, and it’s no surprise that Rancho Cordova is one of the fastest-growing cities in California.
Move to Rancho Cordova for More Housing Opportunities. Rancho Cordova has a range of housing options to suit different lifestyles and budgets. From single-family homes to apartments and condos, you’ll find something that suits your needs. The city also has a low cost of living compared to other cities in California, making it an affordable place to live. In addition, the city has a good mix of urban and suburban areas, so you can choose to live in a bustling neighborhood or a quiet suburb, depending on your preferences. The housing market in Rancho Cordova is also competitive, so you’ll need to act quickly if you find a property you like.
Move to Rancho Cordova for Quality Education. Rancho Cordova has some of the best schools in the state, which is great news if you’re a parent. The Folsom Cordova Unified School District serves the area, and it has a range of public and private schools that offer quality education. There are also several universities and colleges in the greater Sacramento area, including California State University Sacramento, which is just a few miles away from Rancho Cordova. This means that you’ll have plenty of options if you’re looking to further your education or enroll your children in college.
Move to Rancho Cordova for Its Recreation Opportunities. Rancho Cordova has plenty of recreational opportunities for residents and visitors alike. The city is home to the American River Parkway, which is a 23-mile trail that runs along the American River. You can hike, bike, or jog along the trail and enjoy the beautiful scenery. The city also has several parks, including Hagan Community Park, which has sports fields, picnic areas, and a playground. There are also several golf courses in the area, such as the Mather Golf Course and the Cordova Golf Course.
Move to Rancho Cordova for Its Rich Culture. Rancho Cordova has a rich culture that reflects its diverse population. The city hosts several cultural events throughout the year, such as the annual International Festival and the Rancho Cordova Fourth of July Celebration. The city also has a vibrant arts scene, with local artists showcasing their work in galleries and exhibitions. You can also catch a performance at the Harris Center for the Arts, which is located in nearby Folsom.

Conclusion

Rancho Cordova is a wonderful place to live, work, and play. With a thriving economy, affordable housing, quality education, and plenty of recreational opportunities, it’s no wonder that so many people are moving to the area. Now, if you’re considering a move to California, make sure to check out Rancho Cordova and see what the city has to offer.

Contact Mortgage Consultants Group Today!

Do you need help purchasing a home in Rancho Cordova? Mortgage Consultants Group is here to help you find the perfect home, contact us at (916) 669-1682. With over 29 years of experience and flexible financing options, we can make your homebuying or refinancing dreams happen. Don’t wait–reach out to our friendly loan experts now!