San Diego Real Estate Services

Buying a home is a process. There are certain steps that should be taken in order to guarantee a smooth transaction and a satisfied buyer. Few people can purchase a home with cash. The majority of buyers will need to get a loan in order to purchase a property. Even before looking at properties, a buyer should look into how they will finance the purchase. How much down payment will they need? What will the monthly payments be? What other costs need to be considered. We always ...tell our clients that it pays to shop around for a loan. Find a loan officer or broker that they feel comfortable with and who can actually get the loan funded. There are a few options for getting financing. You may go to a bank directly or use the services of a loan broker. There is also FHA and VA financing if the buyer qualifies. When talking to a bank or a broker, they will look at your credit and income. They will determine what amount you may qualify for and what the monthly payments will be. This will ultimately determine how much you can spend on a home. It is also important to consider how much additional cash will be needed to be paid in taxes, home owner fees and maintenance. One other expense to consider in a purchase are the closing costs. These costs are varied and include the cost of the Escrow, the amount a lender will charge to do the loan, inspections, appraisals and more. For more information or a referral to lenders call us today. See more