gregorygarver.com

[Normefoo]

I am thinking of moving to San Fran, and I don't know anything about the American real estate market. Is it difficult to get a mortgage? I have excellent credit, a tiny amount of debt but will only have a teachers salary. And should I consider buying an apartment or should I just rent, once I get settled?

[kemperk7199]

Don't listen to the media, most of them have no clue what they are talking about. Getting a mortgage is not difficult at all for the qualified buyer. If you have good credit, low debt and stable income, you will have no issues at all. All the doom and gloom is from people not in the industry that have recently appointed themselves as "experts."As far as buying or renting, San Francisco rents are ridiculous. San Francisco property values have not taken as much of a hit as other parts of the state, but there are still very good values to be had. I am located in the bay area and I can tell you from first hand experience that the market is good from a buyers perspective. With low rates and a buyers market I'd jump at the chance to buy. Also, you mentioned that you are a teacher, so there are special programs that can benefit you. Just my 2 centsGood luck and Look us up when you get here.

[acermill3941]

That all depends, I would think you could probably rent a nicer apartment for less and it would cost you in you monthly payments on a mortgage in San Fran.

[chee]

It is probably impossible to buy a house in San Francisco on a teachers salary. The homes in San Francisco are some of the most expensive in the US. You might go to the end of the BART line and find cheaper homes but you might have a long commute to work.