\nIs Now a Good Time?<\/strong><\/h1>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” custom_padding=”0px||0px|||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row _builder_version=”4.16″ _module_preset=”default” custom_padding=”0px|||||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_toggle title=”TABLE OF CONTENTS (skip ahead)” open=”on” open_toggle_text_color=”#112a41″ open_toggle_background_color=”#f3f6f8″ closed_toggle_background_color=”#f3f6f8″ icon_color=”#110a41″ open_icon_color=”#110a41″ content_tablet=”<\/p>\n
\u21b3 <\/span>Pr<\/a>ice it Right <\/a> \u21b3<\/span> <\/span>Show it Off<\/a><\/p>\n \u21b3 <\/span>Clean it Up.<\/a> \u21b3<\/span> <\/span>Write it Down<\/a><\/a><\/p>\n \u21b3 <\/span>Spruce it Up<\/a> \u21b3 <\/span>The Bottom Line<\/a><\/p>\n ” content_phone=”<\/p>\n \u21b3 <\/span>Pr<\/a>ice it Right <\/a><\/p>\n \u21b3<\/span> <\/span>Show it Off<\/a><\/p>\n \u21b3 <\/span>Clean it Up<\/a><\/p>\n \u21b3<\/span> <\/span>Write it Down<\/a><\/a><\/p>\n \u21b3 <\/span>Spruce it Up<\/a><\/p>\n \u21b3 <\/span>The Bottom Line<\/a><\/a><\/p>\n ” content_last_edited=”off|desktop” disabled_on=”on|on|off” _builder_version=”4.16″ _module_preset=”default” title_text_color=”#112a41″ title_level=”h4″ title_font=”Muli|700|||||||” title_font_size=”16px” body_font=”Muli||||||||” body_text_color=”#00df97″ body_link_font=”Muli||||on|||#112a41|” body_link_text_color=”#110a41″ body_font_tablet=”” body_font_phone=”” body_font_last_edited=”on|phone” body_font_size_tablet=”14px” body_font_size_phone=”” body_font_size_last_edited=”on|tablet” body_link_font_last_edited=”off|desktop” body_link_font_size_tablet=”” body_link_font_size_phone=”13px” body_link_font_size_last_edited=”on|desktop” border_width_all=”0px” box_shadow_style=”preset3″ box_shadow_spread=”-18px” global_colors_info=”{}” custom_css_before_last_edited=”on|phone” body_link_text_color__hover_enabled=”on|desktop” body_link_text_color__hover=”rgba(0,50,160,0.95)” theme_builder_area=”post_content”]<\/p>\n \u21b3 <\/span>Interest Rates Are Historically Low<\/a> [\/et_pb_toggle][et_pb_toggle title=”TABLE OF CONTENTS (expand)” open_toggle_text_color=”#110a41″ open_toggle_background_color=”#f3f6f8″ closed_toggle_background_color=”#f3f6f8″ icon_color=”#110a41″ open_icon_color=”#110a41″ content_tablet=”<\/p>\n \u21b3 <\/span>Pr<\/a>ice it Right <\/a> \u21b3<\/span> <\/span>Show it Off<\/a><\/p>\n \u21b3 <\/span>Clean it Up.<\/a> \u21b3<\/span> <\/span>Write it Down<\/a><\/a><\/p>\n \u21b3 <\/span>Spruce it Up<\/a> \u21b3 <\/span>The Bottom Line<\/a><\/p>\n ” content_phone=”<\/p>\n \u21b3 <\/span>Pr<\/a>ice it Right <\/a><\/p>\n \u21b3<\/span> <\/span>Show it Off<\/a><\/p>\n \u21b3 <\/span>Clean it Up<\/a><\/p>\n \u21b3<\/span> <\/span>Write it Down<\/a><\/a><\/p>\n \u21b3 <\/span>Spruce it Up<\/a><\/p>\n \u21b3 <\/span>The Bottom Line<\/a><\/a><\/p>\n ” content_last_edited=”off|desktop” disabled_on=”off|off|on” _builder_version=”4.16″ _module_preset=”default” title_text_color=”#110a41″ title_level=”h4″ title_font=”Muli||||||||” title_font_size=”16px” body_font=”Muli||||||||” body_text_color=”#00df97″ body_link_font=”Muli||||on|||#110a41|” body_link_text_color=”#110a41″ body_font_tablet=”” body_font_phone=”” body_font_last_edited=”on|phone” body_font_size_tablet=”14px” body_font_size_phone=”14px” body_font_size_last_edited=”on|phone” body_link_font_last_edited=”off|desktop” body_link_font_size_tablet=”” body_link_font_size_phone=”14px” body_link_font_size_last_edited=”on|desktop” border_width_all=”0px” box_shadow_style=”preset3″ box_shadow_spread=”-18px” global_colors_info=”{}” custom_css_before_last_edited=”on|phone” body_link_text_color__hover_enabled=”on|desktop” body_link_text_color__hover=”rgba(0,50,160,0.95)” theme_builder_area=”post_content”]<\/p>\n \u21b3 <\/span>Interest Rates Are Historically Low<\/a> [\/et_pb_toggle][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” custom_padding=”0px||0px|||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row _builder_version=”4.16″ _module_preset=”default” custom_padding=”0px||3px|||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/homepie.com\/articles\/wp-content\/uploads\/2020\/12\/Time-to-buy-a-home.jpg” alt=”Woman thinking about buying a house” title_text=”Time-to-buy-a-home” admin_label=”Featured Image” _builder_version=”4.16″ _module_preset=”default” custom_margin=”||||false|false” global_colors_info=”{}” theme_builder_area=”post_content”][\/et_pb_image][et_pb_text admin_label=”Date” _builder_version=”4.16″ _module_preset=”default” text_font=”Muli|500|||||||” text_text_color=”#112a41″ text_font_size=”13px” custom_margin=”||7px|||” custom_padding=”||||false|false” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n by\u00a0Homepie<\/strong> | Published Dec 14, 2020<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”0px|||||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n With interest rates at all-time lows, you may be wondering if it is a good time to buy a home in California. A lot of factors other than interest rates go into this consideration, including the local economy, your financial state, and the housing market. The more you know about the home buying process and current real estate trends, the better you will be able to navigate through the process of home buying in California.<\/p>\n You don\u2019t have to navigate this process alone! Homepie.com<\/a> helps navigate you through the process without the need for a realtor through our marketplace. Let\u2019s walk through some important factors to consider when deciding on whether now is a good time to buy a home in California.<\/p>\n One of the biggest incentives for buying a home is current mortgage interest rates. The lower the rates, the more affordable the loan is. Some even see this savings on interest as an opportunity to buy a bigger home.<\/p>\n Mortgage interest rates are currently at an all-time low. As of December 10, 2020, the average rate for a conventional 30-year fixed mortgage in California is 2.71%. That makes purchasing a lot more affordable than it was last year.<\/p>\n<\/blockquote>\n Granted, the interest rate that you receive will depend on the bank financing your loan, your credit score, and if your loan is for a primary single-family residence.<\/p>\n You can get an even lower interest rate with a shorter loan period. However, your monthly payment will be substantially more than it would be for the traditional fixed 30-year mortgage. There are also different mortgage loan types in addition to the traditional fixed-interest rate type, including adjustable-rate, FHA, VA, and jumbo mortgages.<\/p>\n As of November 25, 2020, the average value of a home in California is $589,659. This number is adjusted seasonally and does not include homes in the low or very high price tiers. So, this value is reflective of what a single-family home would cost for the average person.<\/p>\n The table below details the current fixed interest rates, and estimated monthly payments based on loan term, the average home value, and assuming 20% down. The estimated monthly payment does not take into account yearly property tax or homeowners insurance costs, which are typically calculated by your lender and added into your monthly payment. The money is then kept in an escrow and paid to the appropriate parties by your loan provider.<\/p>\n Your bank will give you an Annual Percentage Rate<\/a> (APR). This rate is usually higher than the mortgage interest rate because it takes into account the other costs of borrowing money, such as mortgage lender fees, and will more accurately reflect your monthly payment. But it still does not include escrow payments for property taxes and home insurance, which will vary from home to home and depend on location.<\/p>\n Estimate for a $471,727 Mortgage Loan<\/strong><\/p>\n
\u21b3 <\/span>Your Financials & Credit Score<\/a>
\u21b3 <\/span>The Housing Market and Appreciation<\/a>
\u21b3 <\/span>The Takeaway<\/a><\/p>\n
\u21b3 <\/span>Your Financials & Credit Score<\/a>
\u21b3 <\/span>The Housing Market and Appreciation<\/a>
\u21b3 <\/span>The Takeaway<\/a><\/p>\n<\/a>Interest Rates Are Historically Low<\/h2>\n
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![\"mortgage](\"\/articles\/wp-content\/uploads\/2020\/12\/Mortgage-rate-chart.png\")
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