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1st Time Home Buyers

CALIFORNIA MORTGAGE ADVISORS, INC. loves first-time homebuyers. As a group, we celebrate your visible and infectious excitement and enthusiasm. And we can help you make really smart mortgage decisions. We’ve got your financial well-being in safe, smart hands.

CMA has been helping first-time home buyers for over 20 years. We are experts in providing mortgages to 1st time home buyers. We can guide you through the process and take the stress out of buying your first home. Our Mortgage Advisors will work with you from the start of the process all the way to the closing, which is the day you receive the keys to your new home.

CMA offers a variety of loan program options to help you get into your first home. Our Mortgage Advisors will work with you to find the perfect loan program to fit your individual goals; from the down payment to the monthly payment. We even offer mortgages with little or no down payment. For more information on how to buy your first home, contact one of our Mortgage Advisors at (800) 927-6560 or start the online application process now.

What is the difference between Pre-Approved and Pre-Qualified?

There is a huge difference between Pre-Approved and Pre-Qualified. Pre-approval is far superior to pre-qualified. A California Mortgage Advisors, Inc. “Pre-Approval Commitment” says that we, the lender, agree to grant you a specific amount of mortgage money for a qualified property. Pre-Qualified means a mortgage broker has reviewed your paperwork and believes you may get approved by a lender. A mortgage broker will package your loan and then send to a mortgage banker for loan approval. California Mortgage Advisors, Inc. is a mortgage banker which means we are the lender. We originate, underwrite, approve and fund the loan.

What are the steps to buying your first home?

The first step to buying your first home is getting pre-approved. You need to find out what you qualify for first before visiting open houses. There are many factors involved in getting approved for a mortgage. The key factors include income, employment history, credit history, credit scores, liquid assets and reserves in the bank after you purchase your new home. CALIFORNIA MORTGAGE ADVISORS, INC. strongly suggests that you visit us first. Pick your financial partner – your mortgage banker – first. It won’t take long for our licensed, seasoned experts to pre-approve you at no cost.

  • We will interview you to find out what your goals are for a new home such as down payment, purchase price and affordable monthly payments.
  • Then we will let you know what you qualify for based on your financial situation. Generally this can be done in 20 minutes, or less, over the phone.
  • Next, we will gather information and proceed with the credit, asset and employment verification checks.
  • At this point, we advise you on areas that need your attention, if any, and then proceed to submitting you loan to our underwriting department.
  • Once your loan is approved, we will go over various loan programs that fit your financial goals. Our Mortgage Advisors have extensive backgrounds in mortgages and access to virtually every product in the market. We will discuss the various types of loans, their tradeoffs and costs.
  • Issue Loan Pre-Approval letter.

Now that you are Pre-Approved, you can shop for a new home with confidence. If you don’t have a Realtor®, California Mortgage Advisors, Inc. can refer you to a Realtor® that works in the area where you want to buy and who also specializes in your price range.

To get started on buying your first home, contact one of our Mortgage Advisors at (800) 927-6560 or start the online application process now.