PURCHASING A HOME?
California Mortgage Advisors Inc. has been helping customers purchase the home of their dream for over 20 years. We understand not every borrower is looking for the same home or the same type of loan. Our Mortgage Advisors can assist customers in selecting the best loan for their first home purchase, second home purchase, or refinance. When you are ready to start the process, apply online here or contact one of our Mortgage Advisors at (800) 927-6560.
Borrowers can also use our home search database. This will allow them to search for homes based on user-generated location and pricing criteria. The search will return detailed information on any of the selected homes including neighborhood demographic data. We invite borrowers to apply for pre-approval today. Once approved, we can even direct borrowers towards a list of the most qualified realtors in their area if they haven’t already contacted someone.
Understand the Process
Buying a home is a stressful process because most people lack the experience necessary to fully understand the steps involved. It happens so rarely for most people so it is hard to understand the process.
At CMA, our Mortgage Advisors are there to help borrowers understand all of their options so they can make the most informed decision possible. There are certain things that every potential home buyer should do before looking for lenders.
Understand What You Are Looking For
Most people only have a general sense of what they want from a home. They have a generalized esthetic that they find appealing and a vague idea of what they are looking for. Obviously homes are much more complicated than that. Therefore, it is important that borrowers have a clear idea of what they want from a home before they start looking. This is only an issue for first time buyers as anyone who has owned a home for any period understand what they need to do differently the second time around.
Save for A Down Payment and Closing Costs
Yes, there are numerous government programs that allow borrowers to minimize the necessary down payment amounts and closing costs. However, there is no such thing as buying a home for no money down, no matter what anyone may be advertising. There are numerous people involved with every stage of the home buying process, and each one of them expects to be paid before services are rendered. A sizable down payment can also reduce overall mortgage payments and speed up the application process.
Finally, homes are a huge source of unexpected costs. Even brand new homes are not exempt from accidents or the unexpected. A sizable savings account can go a long way towards mitigating the stress associated with weather damage, termites or broken appliances.
Getting pre-approved for a mortgage doesn’t reduce the necessary amount of paperwork or make anything happen faster. Applicants still need to submit many financial documents and credit statements over a period of several weeks. What it does do is let borrowers know where they stand with regards to how much a particular lender is willing to loan them. Many borrowers make the mistake of looking for a home, falling in love with a particular house, and then not being able to qualify for the mortgage necessary to buy their dream home. A CMA Mortgage Advisor can help borrowers examine their finances, decide what they are looking for in a home and get pre-approved for an amount necessary to purchase the home that they want.
At California Mortgage Advisors Inc., we genuinely believe that we offer our customers the best mortgages in the industry. We have offered a variety of loans since 1993, which means our Mortgage Advisors have successfully matched tens of thousands of borrowers with loans tailored to meet their needs and unique financial situations. Our Mortgage Advisors are available at (800) 927-6560 to answer your questions or click here to apply online.