The city of Folsom has so many great qualities that draw people to it from all around the region, and even throughout the state. It is the perfect place to raise a family with safe and friendly neighborhoods, great schools, and a growing number of shops, restaurants, and entertainment in the nearby area.
Folsom, CA is also a growing economic hotspot as more corporations are moving to the area. Essentially, Folsom is the single city that has everything you need within easy driving distance, making it clear why Folsom is one of the most in demand and competitive housing markets in Northern California.
Although home building in the area has increased, so has the number of people moving to Folsom. Many local homes stay on the market for only a short period and sell at or above the listing price. If you are interested in purchasing a home in Folsom, you need to be ready to buy.
A mortgage lender and loan originator in Folsom can help you move through the process of securing the right loan quickly. Mike Landrum at Landrum Loans is a loan originator for residential and commercial loans in Folsom. We work personally with our clients, providing the best in customer service while also working to get you the leading interest rates and right loan terms to purchase your perfect property in Folsom. Learn more about our loan process and get started with your application by calling us at (916) 813-9306 or filling out the application form online.
Why Choose Landrum Loans as Your Folsom Mortgage Lender?
Buying a home in Folsom is already a challenging process. Getting a loan at the right rate, particularly in today’s market, is yet more difficult. Landrum Loans is committed to helping you get your loan and making the process as straightforward as possible.
Mike Landrum is licensed to originate residential and commercial loans in the state of California and has specific experience working in Folsom as a local, as well as nearby cities like Sacramento and El Dorado Hills. We have connections with lenders and mortgage brokers and will help you shop for a term loan that fits within your budget and gives you the best possible interest rate.
Throughout the process, Mike Landrum and our entire team will provide exceptional customer service, from regular texts and calls to keep you updated on the process to personalized advice, including insight into the different loan types, ideas on improving your credit or reducing your DTI, and the resources you need. Our goal is to make sure you close your loan before the deadline and are set up to purchase the best possible house.
2022 Folsom Housing Market Update
Folsom has always been a popular place to live, but in the past few years, the housing market here has exploded as the number of people purchasing homes increased. This resulted in much higher home values and a more competitive market.
The competition has cooled somewhat since last year with the rising of interest rates and homes are staying on the market, on average, twice as long as they were in mid-2021. However, home values have remained strong and continue to increase with homes regularly selling for 8% more than last year and often significantly over asking.
All of these factors can make Folsom challenging for first time homebuyers and those new to the area looking to secure a home within their budget. Having Landrum Loans as your loan originator with in depth knowledge of the local market and proven reliability in helping you close on time on a new loan is the best way to buy the real estate you want in this in demand market.
Advantages of Living in Folsom, CA
Folsom used to be largely a community for those commuting into work in Sacramento and other local cities. But that has changed today and Folsom is now an exciting city in its own right. It is still a great place to live if you are working in Sacramento, Rancho Cordova, or other cities nearby, and also has many benefits besides convenience that make living here so great, such as:
- Numerous Activities – You will find something to do almost every day of the year in Folsom. From the activities that the city puts on, like the Folsom Rodeo, to local shows and artistic events to easy access to nature at Folsom Lake, there is always something to do that fits every interest and age level.
- Amenities – Everything you need to take care of your family is right here in Folsom, including dozens of grocery stores, malls, shopping centers, home stores, doctors, and dentists offices. There are also endless entertainment options with multiple movie theaters, restaurants, cafes, bars, breweries, bowling alleys, music venues, and more.
- Safety – Part of what makes Folsom especially popular among young families is the incredibly safe environment in local neighborhoods. A responsive local police force, maintained and well-lit streets, and the presence of other families make this a very safe place to be, even at nighttime.
- Education – The K-12 schools in Folsom are consistently ranked as some of the best in the state. Folsom is also home to Folsom Lake Community College, a top performing school in the California college and university system, making it possible to meet your entire family’s educational needs in Folsom.
- Local Beauty – Folsom was developed with families in mind and thoughtful neighborhood development complements the natural beauty of the many open spaces, parks, trees, rivers, and lakes that make Folsom an inviting place to be.
All of these features lead to a vibrant population that includes families, retirees, and young adults, who enjoy the many things to love about the area.
Things to Do in Folsom
Folsom is great in that it combines residential neighborhoods with shopping areas and entertainment, meaning that there are many great things to do often just outside your door. Some of the local favorites include:
- Folsom Lake
- Folsom Lake Bowl (FLB)
- Folsom Zoo Sanctuary
- Folsom Truss Bridge
- Palladio
- Folsom Premium Outlets
- Castle Park
- Downtown Folsom/Sutter Street
- Out of Bounds Brewery
- Harris Center for the Arts
If you do want to venture further afield, you can also enjoy hiking and nature in the foothills and nearby Sierra Nevada Mountains, check out sporting events and performing arts in Sacramento, and more, all just outside of Folsom.
Popular Restaurants in Folsom, CA
Folsom has cuisine from almost every culture and multiple options of all your favorites. Additionally, the restaurant scene in Folsom is always expanding so you will never run out of places to try, but these are a few to get you started:
- Curry Club
- Samuel Hornes Tavern
- Waffle Experience
- Manderes
- Cia di Gelateria
- Mystique Dining
- La Fiesta Taqueria
- River Thai
Next door El Dorado Hills also has a thriving restaurant scene with high end restaurants for date night such as Sienna Restaurant and Milestone.
Best Loans for Home Purchases in Folsom
Homes in Folsom tend to be in the 700,000s and up. At this price point, a jumbo loan or non conforming conventional loan is generally the best choice to provide you with enough financing to cover your home purchase. Either of these loans will typically need a higher down payment to qualify, but we also have a few options with lower down payments or solutions and advice to help you meet financing requirements.
There are a few homes around 500,000, often in some of Folsom’s wonderful older neighborhoods. For these homes, traditional loans can often meet your needs, such as:
Folsom is not considered a rural location so USDA loans are not a possibility in the area.
Start Your Loan Application – Contact Landrum Loans
Folsom has all the benefits of a big city but with the feel of a small town. Landrum Loans can help you tap into this challenging market and qualify for the right loan for your Folsom home purchase. For those looking to break into or expand in the Folsom business scene, we can also help with commercial real estate lending.
Call us to get the process started. Our first priority is to have a discussion with you about the type of home you want and to help you see why Landrum Loans will be the best choice for your mortgage loan originator in Folsom.