For the purpose of financing the purchase of a home in California, a California home loan is needed. It is also often referred to as a California home loan mortgage refinancing plan.

To determine how much house you could afford in California, the first step is to quickly calculate your purchasing power and determine how much you can afford to pay each month. By doing this, you will know which homes are within your price range. The next step is to consider the upfront and continuing costs with using a California home loan mortgage. The downpayment ranges from 3 to 30% of the house cost. The bigger the downpayment, the more equity there is in your home and the lower your monthly payment is. Closing costs run from 2 to 6% of the loan amount depending upon the area in California. Additional costs include monthly mortgage payments, property taxes, homeowners insurance, utilities, and maintenance.

In buying a home, one of the biggest advantages is that it allows the buildup of equity. When you consider owning a home, you need to weight the advantages and disadvantages of purchasing versus renting.

At Ocean Pacific Capital, we can help with your California home loan mortgage refinancing. Give us a call at 1-800-595-1474 or fill out our online application.