What To Do When Buying A Home

Buying a home takes planning and planning can save you thousands of dollars and not just on the home you buy, more importantly, the financing you will get. Think about, if you can save $100 per month off your mortgage what kind of savings this will impact will have over the next 60 months or 120 months. If you plan on staying in the home for at least 5-10 years it can be costly if you rush the financing, so plan ahead! A loan officer in most cases are paid by commissions and the additional hours they have to work on your loan may be the difference by the loan officer charging you more points and fees or higher interest rates if you are unprepared. The first step you need to do is pull your credit report which can be done free of charge with your lender and review for any inaccuracies. If you have a FICO score less than 720 then there is room for improvement. Review the credit report early on with your lender can save you money in the long run, so if you are thinking about buying a home in 6 months this is the first step I would do. To apply online and to review your credit report visit http://www.californiahousingassociation.com/gold_mortgageapp.asp Next we will cover what questions to ask your loan officer.

Buyers Short Sales Beware

Short sales have been a big buzz lately and so have bank foreclosures. Which one is a better buy? Before buying a property I encourage you to understand the complexity of the process when buying one of these bargain deals. Or at least make sure you are working with an experience agent that can foresee any potential issues that may arise when buying a distress sale. Buying a home that is being sold as short sale can have immediate issues. One quick question I would ask your real estate agent does the listing agent have a full approval from the lender(s) to sell the property (short payoff)? The lenders that have interest in the property will issue an approval that should be forwarded to the buyers agents. 2ND thing I would do is review the terms of the short sale. Reviewing the terms of the short sale agreement will provide the terms and details of the transaction. For more information on buying bank foreclosures, short sales, and the hottest deals visit www.DavidDelgadoRealty.com or call David at 562-252-7889
Happy home hunting,
David Delgado, President/CEO
dre 01385731

Inventory Homes for Sale In Whittier

As we approach year end and now that the senate has approved the extension for first time home buyer tax credit, we have been experiencing a market correction in the housing industry. Homes for sale in Whittier and the surrounding area have continued to receive multiple offers on properties as most first time buyers try to beat the rush for their $8000 tax credit. For more information regarding the $8000 tax credit visit my website at www.DavidDelgadoRealty.com and on the website you can get information on how you can qualify for the tax credit. Whittier homes are selling fast as the bank foreclosure inventory has dried up but don't worry there has been a steady supply of homes entering the market, but just make sure when you decide to work with an agent that he or she has the experience working in today's market. One question I would ask the potential agent is what is their ratio on number of offers submitted vs accepted. Should you have any questions you may visit my website on our buyer guarantee programs. That's where if you are not satisfied with your home that you buy from us, we'll buy it back. Certain restrictions apply.