First Time Home Buyers

There are plenty of benefits to paying cash for a home, but don’t overlook the opportunities that come with leverage.

As it is often said, a home purchase is one of the biggest decisions we make in our lifetime. It comes with many responsibilities, and many advantages.All cash home buyer

One advantage, of course, is the fact that over time, your investment will grow in value. It can be safely said that real estate is one of the safest long term investments one can make.

That being said, you have a few choices as to how you’ll make that investment work for you. You can either pay cash for your home (Provided you have that kind of cash on hand), or you can finance. So which one is better?

Pros Of Paying Cash For Your Home

  • The first, and most obvious, is that you won’t have a monthly mortgage payment
  • You own your home outright, and are given title, as soon as escrow closes
  • Escrow may close more quickly, as you have options to waive certain contingencies that are usually required when you obtain a mortgage loan

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2015 off to a great start for home buyer in many ways.

It appears that the news continues to be positive for the Santa Clarita real estate market as we already near the middle of the first month of 2015. FirstSanta Clarita Real Estate up, interest rates have dropped…again, hitting a 20 month low by hovering in the low 3.70 percent range.

We’ll reiterate how incredible this news is for qualified home buyers looking to maximize their purchasing power. Homeowners considering selling their home soon should also take heed, as there is even more good news that will affect buyers in a positive way.

So, we once again have nearly historically low interest rates. In other home buyer news, Fannie Mae and Freddie Mac have made changes to their guidelines for lenders by backing loans with as little as 3% down.

But wait…there’s more!

As you probably know, purchasing a home using a zero down payment loan requires Private Mortgage Insurance (PMI). Typically, the cost of PMI was 1.35% of the value of the loan at or above 80% of the loan-to-value ratio of the property. The Federal Housing Administration (FHA) recently announced that they will cut the cost of PMI from 1.35% to .85%, which will typically save the homeowner with a zero down mortgage up to $900 per year. Continue reading

For a first time home buyer, there are lots of real estate terms they’ll need to know.

Escrow. Title. Amendments. Contingencies. These are just a few of the phrases that first time home buyers might never have heard before…or at least in the capacity of having to actuallyFirst time home buyer questions. make use of them.

While buying a home isn’t overly complicated, there is a slight education process that makes things go a bit more smoothly for someone who has never purchased real property before. As a matter of fact, what is real property?

Basically, real property  refers to land, and anything immovable, including t attached to the land. including improvements, buildings, houses, etc. that cannot be considered personal property. Easy enough, right? For example, a lamp that plugs into a wall socket in a home would be considered personal property. A light fixture installed and attached to the property may be considered real property.

What is an escrow?

In a nutshell, escrow refers to an objective third party to a real estate transaction, whereby insuring all conditions of the sale are met by both buyer and seller. Escrow officers organize and monitor all of the aspects of the sale once the offer has been accepted by the seller, to make sure that the transaction can be legally made before the sale is final and the keys are handed to the buyer.  Continue reading

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Client Testimonials
I had specific needs for my new home. Brandon was very patient with my unique situation and flexible when it kept changing. He showed me so many houses, but with little inventory, none of them were quite perfect or they had too much HOA or Mello Roos. Finally when we found The One, no HOA, no Mello Roos, it had been on the market for 4 days and I made an offer that morning. I was sure the sellers would give it to someone else but Brandon worked hard to make sure they accepted my offer and by that night, the house was mine. Had it not been for Brandon I would still be searching for a house because so far, there is still nothing better than mine.
Lisa G. , Saugus
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