Your One-Stop Real Estate Guide   (866)-866-5358   

Home  About us  |  Our Services  |  Our Agents  |  Directions     

 

  Featured Homes
  Search Homes in MLS
  San Diego Cities
  North County region
  South County region
  San Diego region
  Ask an Expert
  Find an Agent
  Mortgage Center
  Trung Tam Dia Oc
  Visitors Guide
  Golf and Attractions
  Schools and Colleges

 

Tools for Buying Real Estate

 

The purpose of this site is to provide you with the tools and resources you may need for the purchase of your first home/condo or investment property.  The resources included here are intended to provide you with background on real estate and its terminology. Please contact if you have any questions or would like to request for more information.

 

To learn more about buying real estate, select the appropriate link below.

 

   ► Important Steps when Buying

   ► Mortgage Calculator

   ► Types of Mortgages

 

 

Why Pre-Qualify before buying?

 

Why get prequalified and then preapproved for a mortgage before you begin your search for a home? Because there are 3 people who will benefit from your preapproval: You, your Agent, and the seller from whom you eventually buy a home!

You: The most important beneficiary, of course, is you. One of the most common questions we get from users of this site goes something along the lines of "Please let us know how much house we can afford." We're stumped! Why? There are simply too many variables--credit history, income, debt, special mortgage programs and variations in qualifying guidelines between different mortgage types--to answer that question. The only sure way of getting the question answered is through prequalification. The mortgage prequalification step is a relatively simple one, but it is an important one. It begins the process of formally applying for a mortgage, and it gives everyone involved--especially you--a clear sense of the direction they should be headed.

Your Agent: By knowing what your financial parameters are, your Agent can spend more time looking for houses that "fit" and less time pursuing dead ends. No matter how much you might want a 4000 square foot home for $275,000, if your qualifications say $125,000, your qualifications say $125,000. When it comes to mortgages, "yes, but" doesn't carry much weight!

The Seller:
Want to strengthen your bargaining position? Get prequalified. Want your offer to stand out in a case of multiple offers for the same house? Get prequalified. Look at it from the seller's perspective. If you had 2 offers on the table for your house, one from a fully prequalified buyer and the other from an "I'll get around to that soon" buyer--to which offer would you devote the most attention? Even if the prequalified buyer's offer was $1000 less, would you take the chance on the buyer that perhaps may not be qualified? When it comes to a seller evaluating offers, "a bird in the hand..." definitely applies.

Loan pre-qualification does not typically include an analysis of your credit report or an in-depth look at your true ability to buy a home.

You can be pre-qualified by a lender, by a real estate agent or you can do it yourself. The term means that someone has taken a general look at your income and expenses and plugged them in to a debt-to-income ratio formula.

Pre-qualifying yourself before you start looking for a home gives you a general idea of the price range you can afford. Our friendly agents can assist you with pre-qualifying yourself in less than 10 minutes.  Get Pre-Qualified today!

 

Find My Dream Home

Price

to

Bedrooms

to

Bathrooms to

Type

Search

 

  Related Links

HomeBuySell  Finance  Search MLS    Contact Us

  (866) 866.5358 | Fax: (619) 298.5616

3110 Camino Del Rio South, Ste. 311, San Diego, CA 92108  

  ©Copyright 2006, All Rights Reserved. Privacy Statement