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Chronological Explanation of a Home Purchase   arrow

Below is a basic outline of how to move from your current situation to owning a new home. Please call me today (858)829-2243 to begin your journey.
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Consultation– This meeting focuses on finding out where you are now and where you want to go.  I get a feel for your financial philosophy and general likes and dislikes.
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Loan options– I put together loan scenarios that best match your goals.  You will receive worksheets that detail all the loan costs as well as how much cash you need to close and your monthly payment.  Also included is a spreadsheet with charts that illustrates the different options all in one place showing funds to close, payments, cost over 5 years and over the life of the loan.  At this point you should know your price range and preferred program.
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Application Now that you know what you want, I take some basic information from you to start the process of ensuring you qualify.  I also collect financial information
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Pre approved You now know what priced home you can afford and have a document that you can send with any offer that you make certifying your able to purchase the home.
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Find a House I will set you up with a real estate agent who can discern your likes and dislikes.  Their job is to help you understand the market enabling you to find a house that fits your goals within your budget.  Whether that goal is finding a tun key property or finding a property below market value.
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Submitting an offer Once you know what house you want to buy your real estate agent will help you write an offer that gives you the best chance to get the house as well as negotiate the best deal for you on that house.  Also at this time I will call the listing agent and inform them that your pre approval is very strong and that we can close in 30 days or less.
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House under contract You have found the home of your dreams and come to an agreement with the owner.  You will receive initial disclosures for your loan to be signed and returned along with a list of any documentation that needs to be updated.   Your appraisal also gets ordered in this stage.
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Conditional approval Underwriting has reviewed your information and approved it based on you providing the conditions that they will specify.  At this point you will receive a list of items that we need from you to fulfill those conditions.  One of the conditions will be the appraisal which is normally received around this time.  Once I have all the documentation necessary I will resubmit your file.
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Final Approval This means your loan is nearing the finish line so we can order docs.
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Sign Docs A notary and myself will come to wherever is most convenient for you and sign the loan documents with you.  This can take anywhere from 30 minutes to 1.5 hours
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Fund A final set of eyes go over your file and make sure everything is complete before sending out the money to escrow.
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Recording The property is placed into your name with the county.  At this point you will receive keys to the house and officially own it.
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First Payment Living in a house is great but making that first payment really gets you introduced to being a new homeowner.  Your first payment will occur at the beginning of the 2nd month that you own the house.  For example if you sign and record on a home in late August you will skip your September payment and make the first payment in October.
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