A homebuyer is on the phone with a mortgage analyst while looking up the 5 things every buyer should consider when purchasing a home.

These are 5 things every homebuyer should consider when buying a house in California and Texas.

1: Insight Into Current Market Conditions

According to recent data from Zillow, the median home value in California is $578,267. Over the last year, home prices increased by 4.4% and are expected to fall by 1.1% in the next 12 months.

In Texas, Zillow found the median home value to be $211,199. Over the last year, home prices have increased by 3.0% and are expected to fall by 1.9% in the next 12 months.

The real estate market conditions fluctuate without warning. It benefits every homebuyer to understand the type of market they are planning to buy a house in.

2: Knowledge Of Existing Mortgage Programs

Fixed-rate, Conventional, Adjustable, and FHA. These are just a few of the mortgage options available in California and Texas, and there are pros and cons to each one. That’s why homebuyers must research the existing mortgage programs before making any decisions. It is always best to call a reputable mortgage lender, like JVM Lending, to speak with one of our Mortgage Analysts about financing options or visit our website and explore the resources that explain different home loans.

Related: Types of Mortgage Loans 

3: Down Payment, Unless Military

Depending on which loan homebuyers choose, a down payment may be another to consider when buying a house. Each mortgage loan has a minimum down payment. For an FHA loan, homebuyers are allowed to pay a minimum of 3.5% down. Military members and veterans in California and Texas may qualify for a VA mortgage loan, completely removing the down payment requirement.

4: Acceptable Credit Scores

Credit scores are another critical requirement when purchasing a home in California and Texas. These reports give lenders a sense of how homebuyers have borrowed and repaid money in the past. In regards to credit scores, some mortgage programs are more flexible than others.

5: Managing Debt

Lastly, homebuyers should review their debt-to-income (DTI) ratios. As with credit scores, there is no exact limit for Californian and Texan homebuyers. Similarly, concerning debt levels, some mortgage programs are more forgiving than others.


We know buying a home can seem daunting, but with a little patience, some research, and talking to a trusted mortgage lender like JVM Lending, you’ll find yourself well on your way to  purchasing your home!

These are just 5 of the things every homebuyer should consider when buying a house, but there are many more steps to secure financing for a home. If you are a homebuyer in California or Texas and have any questions or are interested in seeing what types of mortgages you qualify for, contact JVM today – our team of mortgage experts is happy to help with your mortgage needs.

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