Real Estate Questions & Answers

January 07, 2009

California Real Estate : Questions & Answers

Getting Pre-Qualified.
Home loan prequalification is important for buyers, it shows a price range to start their home search. Understanding where your new home fits in your budget can help you make the right choice when balancing your needs and wants. Typically, a pre-qual is a quick assessment of your income and expenses, they take into consideration how much you bring in on a monthly basis re

lative to the other bills you may have for car, utilities or other expenses.

   Another good reason for getting pre-qualified is how it strengthens your offer when you do find the right home. If you are pre-qualified above the offer, you submit the seller will be more willing to work with you because there is a greater chance the deal you put together won't fall out of escrow because of financing at the last moment, putting both you and the seller behind in the market.

   You can use our referral service to find a Loan Broker in your area that can help you with this process. Usually this service is free and can take as little as 30 minutes from start to finish. This is a good time to ask about the monthly cost of the loan amount and see if that fits your budget. Find out what loans they recommend for you and get a second opinion, you might qualify for different amounts depending on the loan.

   Just remember your Pre-Qualification isn't set in stone, you can possibly afford more or less then the initial amount.    Think of your home loan pre-qual as a range to guide you when finding out how much you are willing to spend in your search.

California Real Estate Markets:
Los Angeles real estate, CA , San Diego real estate, CA , San Jose real estate, CA , San Francisco real estate, CA , Long Beach real estate, CA , Fresno real estate, CA , Sacramento real estate, CA , Oakland real estate, CA , Santa Ana real estate, CA , Anaheim real estate, CA , Riverside real estate, CA , Bakersfield real estate, CA , Stockton real estate, CA , Central Coast real estate, CA , Fremont real estate, CA

*Estimated values are based off of a six month approximation, it bears no expressed or implicit warrant or guarantee of value.
All values are estimated and it is the responsibility of the buyer to determine value.