There are quite a few different mortgage options, so your first step should be to understand the different types of mortgages.
Nerd Wallet offers a good overview of the mortgage options in California (CLICK HERE)
I recommend that you then speak to at least 2 to 3 mortgage lenders to make sure you are getting the best rates and fully understand your options.
I have many great lenders in my network I can refer to you upon request.
The lender will let you know the top price you are eligible for and get us a “pre approval letter” this is necessary to see homes.
Now you need to determine what you want and need in your future home. This is the fun part! It’s time to pull out those Pinterest boards or turn on HGTV and think about what is most important to you in your new home.)
Type of Home
Amount of Beds
Amount of Baths
Work Commute? Traffic?
I will set you up with a real time search of current listings that match your criteria and your price point.
I will set up private tours of homes for you that fit your criteria.
We can work together to schedule open house tours or to get private showings.
I will do the research and save you the hassle of sorting through homes that do not meet your needs.
If necessary, I will give you comps to estimate the property’s fair market value so you only pay what you should.
When available, I will send you all property disclosures so that you have access to all the information you need to make an informed decision.
I will call the listing agent to see if there are any other offers on the property or further details we need to know about it.
First determine what purchase price you are comfortable with. (Tip! there can be cash upfront expenses like inspections. Usually from $300 to $1000+ depending on your specific needs.)
Once inspections are complete, write out any requests or repairs you may want to include in your offer.
Determine the “Earnest Money Amount” typically it is 1 to 3% of the total sale price. This amount must be paid to escrow within three days of the offer being accepted.
Together we will decide how long you want your contingency periods to be and inform your lender.
Now it’s time for both parties to agree on terms and SIGN the Purchase and Sale Agreement!
The lender will have the house appraised.
We will get all of the professional inspections that you need done. (Such as: home, roof, pest, pool, soil, foundation, well, sewer, etc).
We will use the appraisal and inspection reports to renegotiate if necessary.
Upon request, I will help you choose a home insurance company and walk you through the process of getting a quote.
Together with your lender, we will complete the loan process in a timely fashion.
(Heads up! This can be a stressful process but I will be there with you to be sure we meet all deadlines.)
We will do one last walk-through inspection together.
IThe title company will determine your final closing costs and you will need to submit all necessary documents to them and the lender. All you need to do is get a cashiers check. for the amount on “final statement from title”.