David Deem 714-997-3486 Dave@DeemTeam.com Buying your first home is an exciting transition, but a home will be one of the largest financial investments you will make. Making sure that you are as prepared as possible is key. Saving for your home may feel like a big undertaking, but there are a few tricks you can use to make it easier. Determine Your Budget No good financial decisions can be made without a proper budget. Assess your most vital expenses and go from there. Ensure that you have a dedicated savings account for emergencies (experts recommend that you have at least three months of your income saved) and a separate savings for your future down payment. Check with a financial planner to help you make the most of your budget long-term. Address Your Debt Debt can prevent you from achieving your house-buying dreams in two ways. First, and most obviously, bills for excess debt detract from your monthly budget. Secondly, if your debt-to-income ratio is unfavorable, you will be preven...

David Deem 714-997-3486 Dave@DeemTeam.com Affordability is a big issue for renters looking toward homeownership. Beyond the purchase price, putting together a 20 percent down payment is a big roadblock for many people. It doesn’t have to be, however. While 80 percent of millennial renters say they can’t afford to buy a house, according to an Apartment List survey, there are various options that they may not be aware of. You’ve probably heard of Federal Housing Administration (FHA) and United States Department of Veterans Affairs (VA) loans, and of Fannie Mae, a government agency that backs mortgages, but there are other programs to help buyer into their first home. FHA / VA / Fannie FHA loans are insured to give lenders a layer of protection if you default on the mortgage. They typically have competitive interest rates, smaller down payments and lower closing costs than conventional loans. A low credit score can still warrant only a 3.5 percent down payment. The VA ...

David Deem 714-997-3486 Dave@DeemTeam.com As more millennials start to think about homeownership, first-time homeowners are on the rise. But not everyone is as prepared as they should be. There are some obvious questions first-time buyers need to answer, such as “What can I afford?”, “Where do I want to live?” and “What size home do I want?” But some less obvious considerations need to be asked as well, including things about school districts, neighborhoods and access to public transportation. Here are some things first-time homebuyers should be doing to make sure they’re prepared: Choose a Reputable Agent Buying a new home is one of the most important decisions of your life, so you want to make sure you’re working with someone you’re comfortable with and who has a strong reputation. This doesn’t mean you have to go with the most experienced person—some might prefer to work with an eager up-and-comer—but make sure it’s someone who will communicate with you the way you w...

David Deem 714-997-3486 Dave@DeemTeam.com Deterred last year by skyrocketing home prices and low inventory in many markets, first-time homebuyers stepped out of the way. But, a recent TransUnion estimate released in late October indicated that favorable economic conditions, including low unemployment and low interest rates, will send an estimated 8.31-9.2 million first-time homebuyers into the market in the next three years. www.DeemTeam.com DRE #01266522