Buying a Home

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Buying a Home What to Watch Out for When Buying a Home Saving up for a down payment and closing costs. Getting your credit into tip-top shape. Lowering your debt-to-income ratio. These are the basics of buying a home. But before you settle on “the one”, watch out for these possible red flags. What to Watch Out for When Buying a Home Odors Sellers use fragrance to […]
Buying a Home Assumable Mortgage 101 The crisp fall weather isn’t the only thing cooling off in Southern California. Home sales fell slightly in October compared to September 2023. But the median sale price also declined a little bit. In fact, according to a Rocket Homes market report, almost 2/3 of all Riverside County homes sold in October sold for at […]
Buying a Home Fair Market Value Explained When selling a Southern California home, you need to come up with a list price. After all, list your home at too high of a price and it may sit on the market for a while. Price it too low and you leave money on the table that should have ended up in your pocket. […]
Buying a Home The Importance of Your Credit Score Lenders look at several things when determining whether or not to approve you for a home loan. Income. Debt. Debt-to-income ratio. Down payment. And, of course, your credit score. Did you know, though, that you should not let your credit slip once you sign those closing documents? The Importance of Your Credit Score Before You […]
Buying a Home Homeowners Association: Pros and Cons Becoming a homeowner includes a few expenses. Before you sign your final paperwork, you must come up with a down payment, closing costs, inspection fees, and other miscellaneous fees. Once you sign on the dotted line, there is your mortgage, insurance, and, for some owners, an HOA fee. Have you ever wondered what exactly a […]
Buying a Home How Can I Lower My Mortgage Rate? You decided to buy a Southern California home. You saved up enough money for your down payment and closing costs. After you asked the right questions, you find a lender you trust. Now, it’s time to talk money. As of the writing of this post, interest rates for a 30-year fixed-rate loan sit at around […]
Buying a Home New Homeowners: What to Do Before You Settle In After searching high and low, you found “the one”. Congratulations! You’re a new homeowner. Once escrow closes, you get to move into your new home. Ah, the excitement. But before you do that, you might want to take a few moments to complete some very important tasks first. New Homeowners: What to Do Before You […]
Buying a Home Money-Saving Tips for Your Closing Costs Your down payment is only part of the financial picture when buying a Southern California home. You also need to pay closing costs. Some of these costs are fixed.  Others are not. A savvy homebuyer may want to consider some of these money-saving tips to lower what they can. Money-Saving Tips for Your Closing Costs […]
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Buying a Home How Freddie Mac Works Last week, I explained how Fannie Mae operated from a home buyer’s perspective. This week, I figured it would be appropriate to discuss Fannie Mae’s counterpart: Freddie Mac. While similar in some aspects, they differ from each other as well. Let’s explore this, shall we? How Freddie Mac Works Similarities Congress created both of these […]
Buying a Home Fannie Mae Explained When buying a Southern California home, most people talk about interest rates, how much to save for a down payment, and loan pre-approval. But what happens with your home loan after you purchase your property? Some companies purchase loans from mortgage lenders on what is known as the secondary market. Two of these companies are […]
Buying a Home Priced Out of the Market? First-time home buyers in Southern California find themselves in an unenviable position. Higher interest rates and lower inventory levels put prices out of reach for some buyers. In other words, they find themselves priced out of the market. You may have heard that term before. But what does it actually mean and what should you […]
Buying a Home Guide to Buying a Home to Age in Place The following is provided courtesy of the wonderful people at Caring.com. If asked about major life changes, most people would probably think of their younger days. While some older citizens are settled since their decades of work and raising children are far behind them, others make significant lifestyle decisions in their golden years, including where […]
Buying a Home Common Contingencies Home Buyers Ask For I previously talked about what to negotiate when buying a home. These included things like furniture, a home warranty, repairs, and timing. It is not unheard of for buyers to make requests for certain circumstances to be met in order to complete a sale. These are called “contingencies”. Here are a few common contingencies that […]
Buying a Home Debt-to-Income Ratio and the Home Buying Process I’ve talked about pre-approval vs pre-underwriting. I also explained loan-to-value. But another term any home buyer who finances their mortgage needs to understand is debt-to-income. Why? Because it may mean the difference between loan approval and heartbreak. Debt-to-Income Ratio What is It? In a nutshell, the debt-to-income ratio (DTI) is how much of your income […]
Buying a Home Earnest Money and Its Role in the Home Buying Process So, you decided to buy a Southern California home this year. You scrimped and saved in order to come up with a good down payment. After looking at several homes, you found one that you absolutely love and plan on making an offer. Once the seller accepts your offer, you enter escrow. What’s next after […]
Buying a Home What Does Loan-to-Value Mean? That’s it. You’re tired of renting a home. You want to own one now. Even with interest rates at more than 6% right now, homeownership is within your grasp. I mean, even when interest rates hit double digits back in the 1980s and 1990s, people still bought houses. And today’s interest rates are nowhere near […]
Buying a Home How to Handle a Low Home Appraisal You found the Southern California home of your dreams. So, you put in an offer. Happily, the seller accepted the offer. Now, you enter escrow. There’s nothing to do now but wait, right? Unfortunately, no…at least not if you plan on borrowing money to pay for your home. Lenders do not approve mortgage loans for […]
Buying a Home Important Questions to Ask Before You Buy a Home You saved up money for your down payment and closing costs. Then, you found an agent you love and trust. After searching and searching, you finally found the Southern California home of your dreams. But before you put in an offer to buy a home, you might want to ask your real estate agent a […]
Buying a Home How an Escalation Clause May Win Over a Home Seller Since 2020, the real estate market went crazy. We saw prices and demand spike to levels not seen in a very long time. Homes sold well over asking in less than a day on the market. Higher interest rates, inflation, and rising prices have tempered that feeding frenzy a bit. However, while those crazy times […]
Buying a Home What is a Mortgage Origination Fee? Forget about location, location, location. What about the fees, fees, fees?! When you buy a Southern California home, you receive a Closing Disclosure form. This document lists all of the details of your purchase, including the type of loan you used, the terms of your loan (length as well as interest rate), any discount points […]

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