Buying A Home In Los Angeles County (10 Unexpected Secrets!)

Start Here When Searching Houses for Sale in Los Angeles County

First-Time Home Buyer Tips

 

1: As a first time home buyer, make sure not to change jobs, become self-employed or quit your job when looking to buy a house in Los Angeles California

You have to show a minimum of two years of income from your job. Additionally, it’s not uncommon for the financial institutions to verify employment the day of (even hours before) closing on your Los Angeles home.

2: Don’t buy a car, truck or van (or you may be living in it!)

Adding an auto loan could clearly drop your score, resulting in: a) debt ratio being too high and you no longer qualify for your loan or b) your credit score will drop meaning you may end up paying more interest on your home in Los Angeles. As mentioned in tip #1, banks will pull your report before closing. So hold off on buying the new Cybertruck right before you buy a house in Los Angeles.

3: Do not use charge cards excessively or let your accounts fall behind before you buy house Los Angeles California

When charging on your charge card(s) your debt ratio will change causing one of the consequences to happen similar to Tip #2.

4: A major no-no to remember. Do not spend money you have set aside for closing

To clarify, this money is meant for closing when buying a condo in los angeles – not a weekend get away trip.

If you no longer have money to close on your Los Angeles home … how is the deal supposed to close …?

5: Please do not omit debts or liabilities from your loan application when looking to buy houses for cash Los Angeles

They will pop up throughout the home closing process while you’re looking to buy a house in Los Angeles area.

For example, most home buyers get pre-qualified first.

This process is typically done by having a loan officer call and ask you a series of questions about debt, income, credit card history, car payments, etc.

We are humans so of course there may be some income (or debt) that we forget to include while speaking with the loan officer.

Later when you go through the pre-approval process, the bank will actually verify all of your information and be able to find your true debt and income.

From here, if the information that you provided in your pre-qualification is wrong then your loan could be a) denied b) you may find yourself paying higher interest or c) may have to completely change the type of loan you have – which can include a larger down payment.

As of the day of this writing, I highly recommend home buyers in Los Angeles to get pre-approval vs pre-qualified.

Why is this?

Pre-approval means you’re serious.

When Craig, as your buyers agent, presents your offer to the home seller it is a much stronger offer and gets you that much closer to closing on LA real estate for sale.

As your real estate agent, these are all topics we would have a deeper conversation prior to helping you find a home in Los Angeles.

Buy Home In Los Angeles The Smart Way

 

More Tips for First-Time Home Buyers Los Angeles

 

6: Do not go out and buy new furniture just yet

Here is a remarkable story …

A few years back I witnessed a client of mine open a new store credit card and start purchasing new furniture for their home a few weeks before closing.

When the bank pulled their credit report, their score had dropped significantly enough that the bank decided to decline the loan 2 hours before closing!

The client had to wait an additional 3 years to buy a home.

This can clearly ruin or slow down your chances to buy house Los Angeles.

Make sure you wait until after closing to buy any new furniture. 

7: Don’t open up any new credit or store cards. You do not want to originate any inquiries into your credit

Remember that your credit report is pulled the day of closing.

If your credit score has gone down or debt ratio has gone up, you could be left paying more interest or the loan being denied and closing not happening. 

8: Remember not make large deposits without first checking with your loan officer when searching to buy luxury house in Los Angeles

If you make a large deposit you will have to explain to the loan officers/banks where it came from.

For instance, if it is from a job then it is more than likely ok.

However, if it’s a gift – there are limits depending on who it’s from.

This could alter numerous things like your debt ratio.

Which could lead the bank to deny your loan all together or make you pay more interest on the LA homes for sale you find.

9: Stay in place. Do not change bank accounts!

This goes back to your history. Loan officers and banks want to see a minimum of two years of records before you buy home Los Angeles CA.

10: Do not co-sign a loan for anyone before

When you co-sign for a loan this will effect your credit score and debt ratio. Leading you down the same road towards loan denial or higher interest when searching to buy a home in Los Angeles county.

Looking to Buy House Los Angeles? Work With an Expert.

 

Buy House in LA Confidently.

Craig Thomas is a highly knowledgeable realtor near you in Los Angeles for buyers who – from years of experience – has put together the 10 Secrets For Buying a House in LA.

Hopefully you discovered these 10 Home Buying Tips are hardly ever talked about BUT they are just as important for all potential buyers looking at buying a home for the first time in Los Angeles.

Additionally, if you’ve been living in your home for some time, it’s safe to assume you may want to sell and buy a house in Los Angeles area.

After all, it’s not uncommon to want to sell your current house and buy home in Los Angeles depending on your job, personal/family life or other major events.

 

Buy a House in Los Angeles Area (Easily)

 

Regardless if you’re a first time home buyer Los Angeles or have already done this once before, these 10 Tips for Buying a House in LA apply to everyone.

There are always new rules, regulations and laws being brought forward which may cause old paperwork to be updated.

Therefore, if you’re a first time home buyer and go to buy a house in Los Angeles county and are not up-to-date on current rules, this can hurt or slow your chances of buying your ideal Los Angeles home.

Have questions on how to buy a home in Los Angeles?

Text or call LA real estate agent Craig Thomas at 817.584.7846

 

Plan Accordingly Before You Buy Homes In Los Angeles

 

 

These Are Important Rules for Home Buying

 

When looking for houses in LA, every single one of the tips mentioned above can certainly affect your chances of closing on your dream home.

So why risk it?

To make matters worse, some of these points are so simple that anyone can accidentally make them by mistake when searching for homes to buy in Los Angeles California!

For example, who would know that by going out and charging up all these purchases on your dream kitchen, living room and patio before you close on your home could have an adverse affect?

I Want To Buy House Los Angeles, What Are My Options?

 

First time home buyer Los Angeles – as well as seasoned buyers – can expect to find the following types of homes for sale in Los Angeles CA.

 

Types of Houses for Sale in LA

 

• Single Family Homes in LA: This is the classical idea of a family home that may come to mind. Single family homes in Los Angeles are situated in their own plot of land and usually feature front and backyards, fences or gates, and depending on your budget, even a pool or jacuzzi. Reach out to Craig if you need help finding some of the cheapest place to buy a house in Los Angeles.
• Townhomes in Los Angeles CA: While looking to buy house in LA you may have come across townhomes. These properties are usually attached to neighboring units and act like condos in that the residents of the townhomes share the land and pay monthly H.O.A’s for upkeep and amenities. In general, townhouse tend to offer the space and overall vibe that single family homes do. 
• Condos for Sale in LA: When you buy a condo, you are essentially buying an apartment instead of renting one. Buying a condo in Los Angeles could be a great idea if you’re looking to divide amenity and upkeep costs with the other condo owners in the building. This is done in the form of H.O.A (Home Owner Association) fees – which are monthly fees paid for by the condo residents.
  • Did You Know: Both the land the condo building sits on and the building itself are co-owned by the residents who have purchased a condo within the building? Let Craig help you locate flat Los Angeles sale.
• Duplex and Triplexes in Los Angeles County: These types of properties could be great for those needing to buy home in Los Angeles for investing reasons. These types of homes feature more than one individual unit. However, each unit does come with its own bathroom and kitchen for its individual resident. Making it a prime option for individuals needing Los Angeles real estate for sale as possible investments. 

 

Explore the full options of Los Angeles housing by contacting Craig Thomas.

Use the contact form at the bottom or text/call 817.5847846 for a quicker response.

 

 

Down Payment for a House in Los Angeles

 

Typically home buyers need to have on hand a 20% down payment for when looking to buy house in LA.

However when buying a home in Los Angeles County the down payment may prove to be rather difficult depending on where the home is in LA due to high housing costs.

Luckily, there are a number of resources available for LA home buyers who don’t have the down payment money to buy a house in LA.

• For active service members and veterans alike, you can look into possible VA Loan options when searching property for sale in Los Angeles USA.
• If you’re a first time home buyer Los Angeles you can take advantage of the available Federal Housing Authority loans.
• Are you looking to buy a house in Los Angeles county and have low to mid income levels? You also can look into Home Possible Mortgages.
• Additionally, there are numerous first time home buyer programs Los Angeles including First Home Mortgage Programs and California’s First Mortgage Program to look into before starting to search for property for sale Los Angeles.

 

 

Best Places To Buy A Home in Los Angeles

 

I get asked frequently what is the best neighborhoods to buy a house in Los Angeles?

The answer is, there is no such thing as “the best” place to buy a home in Los Angeles.

There are many variables that determine where one will and can live when looking at houses for sale in LA California USA.

For example, you may be looking for Los Angeles homes for sale with a view in the Hollywood Hills so that you have a killer sunset or sunrise to look forward to every day.

Likewise, you may be searching for houses for sale near Los Angeles, but not in the actual city itself. Say your job has you in Glendale or Burbank, but you still want to live fairly close to LA for entertainment and events. 

Below I have put together some popular neighborhood searches on our website for Los Angeles property.

Consider these neighborhoods as a stepping stone for when you start your search to buy home in Los Angeles.

 

Southern California Homes: Start Your LA Property Search 

 

• Buying a home in Beverly Hills: If you’re looking to buy real estate Los Angeles, Beverly Hills is an iconic city bordered by LA where many movie stares, athletes and whos-who of the city call home. With its closeness to world dining and shopping, when you buy house in Los Angeles Beverly Hills you will be in one of the cities hottest neighborhoods. Additionally, Craig will help you locate and buy house Bel Air Los Angeles.
• Homes for sale in Brentwood: Let Craig help you find and buy house Brentwood Los Angeles with a large yard, pool or in gated communities.
• Condos and homes for sale in Culver City: Want to know where and how to buy a condo in Los Angeles? Culver City is a booming neighborhood with new residential buildings starting to take form.
• DTLA real estate for sale: Downtown LA may be a good option for those looking at houses for sale in Los Angeles California. With its walkability and access to entertainment, bars and dining, living in DTLA peeks the interest of many home buyers.
• Echo Park homes for sale in LA: Relatively speaking, Echo Park has some cheap houses for sale in Los Angeles. This neighborhood is close to Downtown Los Angeles and Los Feliz. Want to buy house Silver Lake Los Angeles? Craig Thomas can help.
• Luxury Hollywood Hills homes for sale: Buy house Los Angeles Hollywood Hills if you are looking for homes tucked in the hills and surrounded by sweeping city views.

Buying a Condo in Los Angeles – Made Easy

 

One of the first steps to buying a house in California is to search and save property that meets your needs. 

Rest assured that by using the search tool on this website your information will never be sold or mined – unlike on every other major home search site. This means you will not get bombarded by countless real estate agents.

Giving you peace of mind knowing that only Craig Thomas is looking out for your best interest and is there to answer all questions.

Find the latest houses for sale in LA county by clicking the green tab below.

BONUS: Create your free account to store and access your preferred home searches in one easy-to-navigate page.

 

Search All Los Angeles Real Estate Listings

*Rest assured that your personal information is never sold nor mined when using this site. 

Stop Dreaming About How To Buy House Los Angeles

Ready To Buy A Home In Los Angeles?

 

When looking to buy house in LA it’s crucial – and to your benefit – that you work with realtors nearby who listen, guide and exceed your expectations.

These professionals in real estate like Craig Thomas walk you through the entire process and are still around after the closing to help with any other situations that may come up.

LA realtors need to be more than just agents nowadays.

For example, Craig has a network of professionals that are available for everything that may come up including remodeling, yard work, pools and beyond.

Conclusion on Buying A Home In Los Angeles County

 

• Planning to move to LA? Read The Guide!
• Have questions on how to buy house Los Angeles?
• Want further clarification on the tips mentioned? As you search houses for sale Los Angeles USA, Craig wants to you be confident knowing what you’re getting into. Ask him for help.
• Ready to start the process of buying a home in Los Angeles County? There are nice houses for sale in Los Angeles that may fit all you are needing. Let’s start your search together!

 

Ready to Move Forward and Buy? Contact Craig Thomas

 

As one of the top real estate agent in Los Angeles, Craig will help you figure out where to buy a house in LA and make the process enjoyable.

Contact Craig Thomas by using the contact form below.

Alternatively, text/call him at 817.584.7846 for a quicker response.

Tip: Discover various real estate services in Los Angeles provided by Craig for free.