by Greg Stidham, REALTOR®
Sure, mortgage interest rates have gone up 3 points in 3 months, but if your a first-time homebuyer in California, I have put together the top 5 reasons now could be a great time to buy and not wait.
1) CalHFA has lowered the DTI to 50%
The Debt to Income ratio (DTI) for a CalHFA Forgivable Equity Builder Loan has been updated and improved from 45% to 50% if you have a good credit score of 700 or above.
2) Listing prices are adjusting to current rates.
Sellers are doing price improvements.
Prices are adjusting to current rates.