You may or may not be living in California, but if you are thinking of purchasing a home there as part of a career move, then it is best to look for the best mortgage rates that you can afford. This is very important for you to take an active part of because of the numerous foreclosures in that state that have been occurring for the past two to three years. You want to stay on the safe side.
First of all, you have to be aware of your credit score, make sure that it is a good score. If you do, then your loan approval may be quicker than you think. Those with low credit score may find it harder to accomplish, but not impossible either. There are still lenders open to lower credit scores, it is up to you to search them out online.
If you are currently renting an apartment in California, and you plan to move your family there, keep an eye out open for those interest rates. Remember, if you have a good credit rating, you can dictate the level of your interest rate. Make it work for you, pay your bills on time, get rid of existing smaller loans that can eat up your finances, and shop around for those lending companies that offer the best packages.
Look for the best rates that are offered, and remember, simply because the real estate industry crashed does not mean that you are not welcome to borrow money to buy a home for you and your family. In fact, today is the right time to buy for the rates are incredibly low and so are the prices. If you are in a position to pay for a low amortization rate, then take advantage. The banks will welcome you with open arms.