First Time Home Buyer

Buying your first home is very exciting and at the same time it can be daunting and confusing. For most first time home buyers this is the biggest transaction of their lives and many have never had experience in making such important decisions with respect to where, when and what to buy. Understandably this all stems from a lack of experience and knowledge of how the home buying process works. The process can take weeks or even months and then when they select the right home escrow opens. Then there is the home inspection, appraisal and loan approval. Unfortunately, many first time home buyers don’t obtain a pre-qualification prior to looking for a home and they run the risk of wasting a lot of time.  Mortgage rates can vary from loan program to loan program so it’s important to compare terms to find the best program.

California Home Loan Term:  An EASEMENT is the right to use another person’s land for a specific purpose.  Easements are more common than people think, and sometimes people are not aware of easements on their own property.  A significant number of easements are in place for utility companies or city governments.  To obtain Mortgage Loan Applicationa clear picture of easements on your property, be sure to review your title report.

A mortgage pre-qualification is an excellent way to get prepared for when you begin your search. Getting pre-qualified will allow you to know ahead of time how much you can afford and also determine what home loan program is right for you. There are hundreds of various loan programs, like FHA or conventional, and this process alone (of figuring which one is best for your situation can) can take several days. Being pre-qualified will allow you to search for the home and avoid any additional stress. Also, it will make your offer a stronger offer when the agent presents it to the seller.

Obtaining a mortgage pre-qualification is a wise and simple option for potential new home purchasers, and in the long run can save you both time, money and headache. Clients can complete an application for pre-qualification securely online (apply), and you can then start searching for a home that you know you can afford. Approval on your application will be based on a number of factors, such as your income, your job status, and your credit history among other things. In most cases you will receive a response on your application 24-48 hours, which can help to speed up the process and enables you to get on with finding your new home.