Calling All First Time Buyers!
So you’re ready to buy your first home. How much are entry-level homes in different areas of California? How much do you need to earn to qualify for a home loan? And what can you expect your monthly mortgage payment to be once you move in?
California As a whole:
- Entry Level Price: $288,880
- Monthly payment including taxes & Insurance: $1,390
- Minimum qualifying income: $41,640
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Los Angeles Metro Area:
- Entry Level Price: $266,980
- Monthly payment including taxes & Insurance: $1,280
- Minimum qualifying income: $38,480
Inland Empire:
- Entry Level Price: $164,820
- Monthly payment including taxes & Insurance: $790
- Minimum qualifying income: $23,760
San Francisco Bay Area:
- Entry Level Price: $482,830
- Monthly payment including taxes & Insurance: $2,320
- Minimum qualifying income: $69,600
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