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Buyer

Congratulations on taking the first steps to purchasing your new home! This can be a very exciting time and a very stressful time. It is important to understand all of the steps that go along with a major purchase like this in order to better prepare yourself for what is to come.

In this guide, you will learn some advice for first-time buyers, the different types of mortgages available to you, how to get the best mortgage rate online, and how to survive escrows.

A basic understanding of all of these processes is great for all to know. With the Castaneda team on your side, you can trust that you have the knowledge and the expertise to make your purchase run as smooth as possible.

Buyer Articles

Shopping for a new home is an exciting time. However, it is important to take the proper steps in order to avoid the risk of missing out on your dream home due to poor planning.The first step that should be taken is getting pre-qualified. This allows you to determine just how much you should be spending on your new home. Once you have determined the best price for you and your family, you will need to get pre-approved. This will show the seller that you are ready to buy, making you stand out among the rest.

After you have all of your finances in order, it is time to prepare your lists. Write down your needs and wants. Be sure to include how many bedrooms you need, if you want a fenced yard, or even if you require a tree house. The more specific you are, the easier it will make it for Hector and Sara to match you with your dream home.

When visiting potential homes, try to envision it with your furniture and belongings already inside. Try to determine if each house will fit your décor and sizing needs. Try to never think with your heart, but with your mind. Be logical and patient.

Once you have found the perfect house, there are a few final steps that need to be taken to ensure your purchase. With your offer, make sure to include inspection and mortgage contingencies; make sure that you hire a professional inspector; and always do a final walkthrough the day before closing to make sure no changes have been made without your consent.

Choosing the best mortgage for you is an important step in the buying process. Luckily, there are plenty to choose from, each with their own individual benefits. Make sure to always consult your mortgage broker when deciding on which mortgage to choose.

Fixed-rate mortgages are perfect for anyone planning on living in the new house for many years, if you want to know exactly how much your mortgage will be each month, and if you don’t want any surprises in the future. This type of mortgage will lock in your rate and your monthly payment for the duration of the loan.

Adjustable-rate mortgages are for you if you like taking risks with your money in hopes for lower interest rates in the future. Unlike fixed rate, the adjustable-rate mortgage is beneficial to someone looking for short-term ownership due to lower initial interest rates.

Convertible ARMs are the best of both worlds. This mortgage will allow you to get the initially lower rate of an adjustable-rate mortgage. Then, after a predetermined number of years, your rate will be locked in.

Government loans are perfect for those who meet the qualifications. Veterans can receive a loan from the Veterans Administration. This type of loan usually only works for a less expensive home due to the limit on the amount you are allowed to borrow. Another government loan is the FHA loan. This was designed for lower-income Americans. This can help you if you are struggling to purchase a home at your current income.

More and more every day, it is becoming easier to do business online. It is faster, simpler, and much more convenient for someone with a busy lifestyle. Luckily, there are a lot of great resources online to help you lock in your rate quickly.

If you are confident with finances and love to do things on your own, there are plenty of sites that offer a do-it-yourself option when applying for a loan. If you decide to take this option, make sure that you compare rates from different companies.

If you want a professional to help guide you through the process as well as do most of the legwork, then going with an online mortgage broker may be for you. This is perfect for those who are not as confident with this type of work or for those who are just too busy.

Finally, you have found your home and your offer has been accepted! Now comes the escrow. Escrow is when a third-party company takes your money and holds it until you and the seller meet all of the remaining requirements to transfer ownership. Hector and Sara will oversee this process, so there isn’t much for you to do and nothing to worry about in the meantime. The hardest part is waiting. Once the escrow closes, then all steps are complete.

Now that you have a better understanding of how the buying process goes, it is time to take the next step. Contact Hector and Sara to learn just how easy they can make all of this for you. With over 15 years of experience, you know that you can trust them to get you into the perfect home.

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