Captain Obvious & the California Association of Real Estate!
The California Association of Real Estate (CAR) releases periodic infographics that are generally interesting and somewhat informative. But this one is a little obvious:
Yes believe it or not first time buyers are confused by the lending process! Amazing, who would have thought. I suspect it is more than first time buyers. The only thing I find shocking is the numbers are so low. In fact I suspect most of these numbers apply to refi and move up buyers too. The only advantage those buyers might have over the first time buyer is that they have now been conditioned to the anal exam that is part of getting a loan. (Can I say Anal on ActiveRain?)
Yes and this year the Fed's will be “Simplifying” the paperwork for us so the confusion numbers are bound to go up.
So what does this mean to First Time Buyers and Buyers in General? Get a good lender. If you don't know one ask your REALTOR. We generally do not do loans, but once we understand your situation we can direct you to the best lender for you.
Gene Riemenschneider is the Broker and Owner of Home Point Real Estate in Brentwood CA. Serving the East Contra Costa County Communities of Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, and beyond. For Buying, Selling or Investing call 925-260-4321.
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