So what is the going on with the real estate market? Do you find yourself asking should I buy or should I rent? The easy thing to do is to do nothing but that is not in your best interest. With the real estate market in Southern California it is often difficult to determine which direction it is going to move. The best way to determine if you are in a position to purchase is to look at your monthly rent payment vs a monthly mortgage payment. Keep in mind that you have a huge tax write-off with a home mortgage. In most cases your monthly savings is more than you think even without the tax savings factored in.
You can find real time mortgage information online with many companies that all want you to call them. Personally I do not like talking to sales people so it is important to find a true mortgage professional and not a mortgage sales person. Here are a few ways to know if you are speaking with a true mortgage professional, in my opinion. First make sure they work for a solid company, check them out with the BBB or other such company. Second make sure the mortgage professional you are speaking with has both a BRE and MNLS license. No one person will know every mortgage program but if they do not have both licenses then there is a high probability that this person can only offer limited programs. You want the best program for your personal needs and not the one size fits all program.
There are many mortgage companies that post their rates online but it is important that you look for a company that post real time rates as the market moves and rates adjust quickly. This is why a broker is often your best option for a mortgage as they see all investors rates in a single screen.
For an example of real time mortgage rates click here.