Your Guide to Real Estate Financing for Southern California

Purchase Lending Tips

Below we have compiled some basic lending tips. Remember, these are just the basics, so don’t hesitate to contact us with any questions!

Get Pre-Qualified before you search for a home.

It’s important to know how much home you qualify for before you begin your search. Pre-qualified buyers have much more bargaining power with sellers when writing an offer to purchase. Sellers are usually more likely to accept an offer written by pre-qualified buyers.

Get your documents together.

While you may not need all of your documents right away, it is best to know what will be needed in the future. Contact us for a list of the documents that could be needed.

Remember your closing costs.

In addition to your down payment, you may also have some Closing Costs to consider. It is best to consult your lender to get a more accurate estimate of closing costs.

Pay off debts.

Especially small credit cards. Lenders look at the minimum monthly payments of each credit card. When you have several small credit cards, the minimum payments could add up. It is best to pay these off and any other monthly loans that you can afford. Keep them open with a low or zero balance. Closing an account actually lowers your credit scores.

Get A Quality Home Inspection.

Although it is hard to believe, more people pay for inspections before buying used cars than when making the biggest investment of their lives — their homes. Paying for a qualified home inspection before you buy a home isn’t just spending “a little extra” for peace of mind; it’s absolutely essential for anyone who doesn’t want to spend thousands of dollars for repairs.

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