George L. Duarte

Mortgage Loans Fremont California Horizon Financial Associates

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Evaluating Neighborhoods: 4 Things to Consider Before Purchasing a Home

June 9, 2022 by George Duarte

Evaluating Neighborhoods: 4 Things to Consider Before Purchasing a HomeFrom finding the right agent to discovering the home you can truly feel comfortable in, there are a variety of things involved in the home buying process. However, it’s important not to get caught up in the home and ignore altogether the community you’ll be living in. If you’re planning a move to a new neighborhood, here are some things you should look into before putting in an offer.

Local Amenities

A peaceful, picturesque community is ideal, but if there are not a lot of resources nearby for your family, it’s possible that your new neighborhood may not be the best fit. Instead of having to get in the car and drive everywhere, ensure you research nearby community centers, green spaces and recreational spots so your family has somewhere to spend their weekends.

Research The Crime Rate

You can certainly get a good sense of the well being of a community just by looking at it, but be sure that you’re informed about exactly how safe the surrounding area is so your family will feel at ease in their new locale. While you can easily research the community and find information online, websites like Neighborhood Scout and Crime Report also make it simple to discover the less well-known details.

Transportation And Accessibility

A community you love is ideal, but if you work in the downtown core or an area far away, it will be important to determine the effect this will have on the length of your commute. In addition, you’ll want to be sure there are local transportation options like buses and shuttles that provide access all over the center in the event that it’s needed.

Learn About The Locals

There’s something to be said for the perfect home, but you’ll also need to feel a certain sense of comfort in the place you live so ensure you choose a place with nice neighbors and a community feel. This may seem hard to determine before buying a house, but try visiting the local community center or knocking on a few doors for a quick impression of what the locals are like.

It can be easy to throw everything else out the window as soon as you’ve found the perfect home, but it’s important that your home is situated in a neighborhood you’ll feel comfortable in. Contact your local mortgage professional for more information.

Filed Under: Home Buyer Tips Tagged With: Evaluating Neighborhoods, Home Buyer Tips, Purchasing A Home

How to Determine How Big of a Down Payment You Need

June 8, 2022 by George Duarte

How to Determine How Big of a Down Payment You NeedWhether or not you’re new to real estate, there’s little doubt that you’ve heard the term down payment as it relates to purchasing a home. There’s a lot of different information out there in regards to how much this figure should be and it can be hard to determine exactly what the importance of this payment is. If you’re trying to determine the ideal amount to put down, here are some things to consider.

Explaining Down Payments And Why They’re Important

The down payment is probably one of the largest single payments you’ll make for anything, and this is why so many people save for years. When you buy a home, the down payment is the amount of money that goes into the initial home investment, and this is taken off of the cost of the house. In essence, while this money qualifies as an asset, it is tied up in paying off the total cost of your home.

The Differing Amounts For Down Payments

It’s often the case that many figures are thrown around in regards to the ideal down payment percentage, and they generally vary from 3-20% of the home’s cost. If you are paying a percentage on the low side of the scale, this can unfortunately mean that you will have fewer mortgage options and will be stuck with an increased interest rate. The amount you should pay depends on your financial health and purchasing commitment, but the larger the down payment is, the more minimal your monthly payments will be.

Deciding The Perfect Percentage

Saving up 20% of a home’s total price may seem like a lot of time and effort, but this can be the ideal amount to put down. In addition to lowered monthly payments and a better interest rate, you’ll also be able to avoid Private Mortgage Insurance (PMI), which is required if you put down less than 20%. There is no right answer to the question of how much to put towards a down payment, but you may end up spending less in the long run if you can invest more in the beginning.

There are many figures thrown around when it comes to real estate, but the amount of a down payment should be economically feasible for you and enable you to make your monthly payments consistently. If you’re planning on purchasing soon and are looking for home options, you may want to contact your trusted mortgage professional for more information.

Filed Under: Home Buyer Tips Tagged With: Buying a Home, Down Payments, Home Buyer Tips

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George L. Duarte

MBA, CMC, CMHS
Call 510.377.9059
Fremont, CA

California DRE Corp Lic no. 01032295
DRE Personal Brokers Lic. No. 00943635
NMLS Corporate Lic. No. 302358
Personal Lic. No. 302219

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