The San Jose housing market is known for its competitiveness, driven by the city's status as a tech hub and its limited housing supply. As of the latest data, the median home price in San Jose is around $1.2 million, with prices varying significantly depending on factors like neighborhood, property type, and amenities. Despite the high prices, there are opportunities for buyers who are prepared and have the right guidance.

NMHL's local expertise and market knowledge can help you navigate this complex landscape. We stay up-to-date on the latest market trends, including changes in inventory, pricing, and buyer demand. Our team can provide valuable insights to help you make informed decisions about your home purchase.

California offers several programs designed to help first-time homebuyers achieve their dreams of homeownership. The California Housing Finance Agency (CalHFA) provides various loan options, including the CalHFA Conventional Loan Program and the CalPLUS Conventional Loan Program. These programs offer competitive interest rates and down payment assistance options.

• The California Mortgage Credit Certificate (MCC) program can help reduce your federal tax liability.
• The California Homebuyer's Downpayment Assistance Program (CHDAP) provides deferred-payment junior loans for down payment and closing costs.

NMHL can help you explore these options and determine which ones you might be eligible for. Our mortgage experts will work with you to understand your financial situation and identify the most suitable programs for your needs.

At NMHL, we understand that every borrower's situation is unique. That's why we offer a range of mortgage products tailored to different needs, including options for self-employed individuals, veterans, and those with less-than-perfect credit. Our mortgage experts will work closely with you to understand your financial situation and goals, providing personalized recommendations to help you achieve homeownership.

Some of the mortgage solutions we offer include FHA loans, VA loans, USDA loans, and conventional loans. We also provide jumbo loans for higher-priced homes and specialty loans for unique situations. Our goal is to provide flexible financing options that meet your needs and help you succeed in San Jose's competitive real estate market.

As a homeowner in San Jose, you'll need to consider property taxes and insurance as part of your overall housing costs. Property taxes in San Jose are based on the assessed value of your home, with an average effective property tax rate of about 0.82% in Santa Clara County. Homeowners insurance is also essential to protect your investment against unforeseen events.

NMHL can help you understand these costs and factor them into your mortgage planning. We can also provide guidance on how to potentially reduce your property tax liability through programs like Proposition 13, which limits property tax increases in California.