While we are consistently mentioned Thousand Oaks, Simi Valley, Oxnard and Westlake Village it looks as if the south side of Los Angeles is growing leaps and bounds. Remember that almost all housing markets in California are red hot right now but Irvine, California is the fasts growing city in the USA. SelfStorage.com recently published the list and it looks like this:
- Irvine, California
- Gilbert, Arizona
- Austin, Texas
- Orlando, Florida
- Durham, NC
- Henderson, Nevada
- Denver, Colorado
- Fort Worth, Texas
- Seattle, Washington
You can get all the numbers and data here.
Below is the information for Irvine, California:
2013-2014 population increase: 4.816%
2013 population: 237,111
2014 population: 248,531
Why move there: “The cultural amenities in Irvine are as numerous as our diverse population, who speak more than 65 different languages at home. … People of all backgrounds and cultures feel as if they are a part of the community, no matter where they live, work or go to school in the city of Irvine.” — Irvine Mayor Steven Choi.
When looking for some of the best housing prices and buying opportunities it is important to remember that mortgage financing plays a very big part in making the purchase. Even if you get a home for a steal there still needs to be money to finance the home. There are very few people out there that can drop $250k or $300k on a home to pay for it outright.
Recently, California mortgage rates have inched higher but there are still opportunity to lock in extremely low rates. When deciding upon the correct type of home loan it is a good idea to consider a California FHA mortgage. The requirements are more more lenient and you do not need a ton of money up front. If a large down payment is an issue for an Irvine, California home it might be a wise choice to research some of your FHA options. There are other loan types that are extremely valuable for people in different stages of life.
Now that most colleges and universities have graduated a large number of young professionals will be looking to get a mortgage for a home purchase. We can help first time home buyers verify their income or possibly use future income with some documentation from employers. Feel free to contact us today at 866-260-2253.