San Diego Home Buyers
San Diego Home Buyers have many choices. Whether you are a first time buyer, a family moving up into a larger home, relocating, or downsizing from a family home, buying a home typically reflects a change in one’s life.
Contrary to how most people begin the home buying process, the first step is truly to find a mortgage officer or company that you are comfortable with. How do you go shopping without knowing what you have to spend?
I often suggest starting with your local bank or credit union. It is often a wise idea to ask trusted friends and family for any referrals of lenders they have used. I also maintain a list of loan officers with whom I have had a successful experience.
With all the mortgage scams that have occurred in recent years, it is important to be wise about your choice of mortgage. Buyers will often shop online for the best mortgage rate, but rates alone are not the whole picture. I believe it’s important to speak with a live person as opposed to doing your loan paperwork online. Typically buyers forget to account for certain home costs like property taxes, HOA fees, property insurance, home maintenance, and utilities.
A conscientious lender will review your costs thoroughly. Another important document to review is the lender’s good faith estimate. This will cover the bulk of your closing costs including loan origination fees, title costs, appraisal and notary fees.
Once you have submitted your mortgage application, pay stubs and other required documentation, your lender will give you an idea as to as to how much you have been ‘pre-approved’ for. At that point, ask your lender for a ‘pre-approval’ letter. This is a must have in order to buy a San Diego home or even bid one.
Once you have an idea of a reasonable price range for you, we get to shop! Generally speaking, it is helpful to have some idea of the San Diego neighborhoods that interest you. I can always make suggestions once I know a little about you, work location, and your lifestyle.
Shopping for a home can take as little as one outing up to a year or two! It depends upon what you are looking for and how easy or hard it is to find. As we begin to find homes that you like, we will begin writing offers. Details regarding the bidding process and California Purchase contract may be found in several of my blog posts.
If you are thinking of buying a San Diego home, give me a call today. I am experienced, competent, and pride myself in delivering outstanding service.