Mortgage Lender
The home-buying process involves several key steps, from initial preparation to closing on a home. Here’s a comprehensive guide:
1.) Assess Your Financial Readiness
- Credit Score Check: (620+ for conventional loans; lower scores may qualify for FHA or VA loans).
- Budget: Determine how much home you can afford, considering your income, debts, and savings.
- Down Payment: Most loans require a down payment (3%–20%). VA and USDA are 0 down options.
- Closing Costs: Budget for closing costs, which typically range from 2%–5% of the home’s purchase price.
2.) Get Pre-Approved for a Mortgage
- Contact a mortgage lender (such as Capital Home Mortgage) to get pre-approved. This involves:
- Submitting financial documents (pay stubs, tax returns, bank statements).
- Discussing loan options (Conventional, FHA, VA, USDA, etc.).
- A pre-approval letter strengthens your offer and shows sellers you’re serious.
3.) Find a Realtor
- Choose a licensed California real estate agent to guide you through the process.
- An experienced agent can help you: determine area, find homes and negotiate offers
- Guide the transaction from inspections, to repairs to closing
- Navigate California’s real estate laws.
4.) Search for a Home
- Identify your priorities (location, size, features, school districts, etc.).
- Attend open houses and schedule showings.
- Use online listing platforms like Zillow or Realtor.com to explore options.
- Review Prospective Homes
5.) Make an Offer
- Work with your agent to draft a competitive offer, considering:
- Current market conditions.
- Comparable sales (recent sale prices of similar homes in the area).
- Offers typically include contingencies (e.g., home inspection, appraisal, financing).
6.) Negotiate and Accept the Offer
- Work with your agent to draft a competitive offer, considering:
- Current market conditions.
- Comparable sales (recent sale prices of similar homes in the area).
- Offers typically include contingencies (e.g., home inspection, appraisal, financing).
7.) Conduct Due Diligence
- Home Inspection: Hire a licensed inspector to assess the property’s condition.
- Appraisal: Your lender will arrange for an appraisal to ensure the home’s value matches the loan amount.
- Disclosures: Review the seller’s disclosures about the property’s condition, such as environmental hazards or past issues.
8.) Finalize Your Mortgage Loan
- Finalize your mortgage application with your lender.
- Lock in your interest rate.
- Fulfill lender requirements (additional documents, proof of insurance, etc.).
- Review the Closing Disclosure detailing loan terms and closing costs.
9.) Close the Deal
- Conduct a final walkthrough to ensure the home’s condition matches the agreement.
- Attend the closing appointment to sign documents and pay closing costs.
- Receive the keys to your new home!
- Moving Day.
10.) Post Closing Steps
- Transfer utilities to your name.
- Update your address with USPS and other services.
- Familiarize yourself with local HOA rules (if applicable).
- Meet the Neighbors
Specific Considerations
- Loan Limits: conforming loan limits may vary by county, including the high-cost areas.
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- Fannie Mae and Freddie Mac Loan Limits
- HUD Loan Limits
- USDA Loan Limits
- Native American Loan Limits
- Escrow: California uses escrow companies to handle funds and paperwork during the closing process.
- Disclosure Requirements: Different States require different lender disclosure laws to protect buyers.
Purchase Mortgage rates
Why Homeowners Choose Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Competitive Rates & Fees
Direct Lender with Complete Mortgage Programs
Exceptional Service
Customer Support Application to Final Payment
Capital Home Mortgage Company Reviews
Home Mortgage Programs
Home Purchase loans
Looking to Purchase a Home?
Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
- Primary, 2nd Home, Investment
- Competitive Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Renovation Home Loans
Looking to Rehab a Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
FHA Home loans
Great 1st Time Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
va Home Loans
100% Financing for Vets
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Conventional Home loans
Flexibility for Homebuyers
Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
Jumbo Home Loans
Non-Conforming Home Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
USDA Home loans
100% Rural Home Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Native american Home Loans
Hud 184 Home Loans
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Manufactured Home loans
Great Alternative Housing
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Reverse Mortgage Loans
Your Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Non QM Home loans
Making Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
One Time Close Home Loans
Build Your Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Refinance Mortgage loans
Rate & Term Refinance
Refinancing can be a hard decision and may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor for details.
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Cashout Mortgage Loans
Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home. Refinancing may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education