| Carmen Gutierrez Real Estate & Mortgage Professional with One West Realty & FundRite Mortgage NMLS# 371488 B.R.E. Lic.# 01193488 |
| Serving California If you are in another state, please consult your local agent. |
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| (909)477-1515 |
| IN THE MARKET FOR A HOME? READ THIS BEFORE YOU MAKE A MISTAKE. Here are seven important things you must know before buying a home. 1.- Do you know what gives value to a home? You probably think, a home is valued based on its appearance, its size or the year it was built.. Well, you are wrong. Homes are given its value based on the location. Yes, the location of a property is the most important factor to consider. Ask me and I'll explain in detail. 2- You qualify for an adjustable rate loan (ARM), but you want to wait until you can get a fixed rate. Well, I can understand why you think that a fixed rate is a safer one compared to one that may change with time, and in some cases this is true. But surprisingly, when you get a variable (adjustable) rate you could save hundred of dollars (every case is different) and today's ARMs are safer than before, they have a cap so if they ever go up, there's a limit to the interest change. Ask me how this works and I'll show you what applies to your specific case so you can make an educated decision. 3- You want to start looking at houses before you get pre-qualified by your lender. This has been proved to be a huge waste of time for you and for your Realtor, why? Because if you find the house that is perfect for you today and you don't have yet an Approval Certificate by your lender, you won't be able to make an offer that the seller will seriously consider. You will start the process of qualifying then, but by the time you have provided all the necessary documentation to your lender, the lender has verified your information and you get an approval certificate, that house that you like so much could be sold already to another better prepared buyer. Ask me how I can guide you to the process of getting approved for a home loan. |
4- You are convinced that renting is better than
buying, because you "don't like to have debt".
Ask me and I'll tell you why buying a home may
actually improve your financial future.
5- You want to wait until rates get lower or
homes cost less. The cycle for home values to go
up or down takes about 7-8 years and most likely
prices will never be as low as previous years.
While you wait for these changes to happen
interest rates can go up, so it's like gambling, you
never know. My advice to you, secure your future
today, you can always sell or refinance later.
6- You believe that you need lots of money to
purchase a home. For years it's been
recommended that you save 20% of the
purchase price so your monthly payment is lower
and you can save on mortgage insurance. Again,
the mortgage industry is changing. Nowadays
qualified buyers can buy a home with only 1, 3 or
5% for the down payment and with some
programs you still can avoid paying mortgage
insurance monthly fees. Also, some assistance
programs allow you to buy a home with as little as
$1000 total initial investment. Ask me how. I'm
here to answer your questions. Call me at
(909)477-1515
7- You think you won't qualify for a home loan
because you switch jobs during the last two
years. Or you just graduated from college and
don't have the two mandatory years of work
history. Please, ask me how you may qualify even
if any of the above is your case.
I've been helping people just like you since 1991
and I'm here to guide you and answer all your
real estate and mortgage concerns. Call me at
(909)477-1515
buying, because you "don't like to have debt".
Ask me and I'll tell you why buying a home may
actually improve your financial future.
5- You want to wait until rates get lower or
homes cost less. The cycle for home values to go
up or down takes about 7-8 years and most likely
prices will never be as low as previous years.
While you wait for these changes to happen
interest rates can go up, so it's like gambling, you
never know. My advice to you, secure your future
today, you can always sell or refinance later.
6- You believe that you need lots of money to
purchase a home. For years it's been
recommended that you save 20% of the
purchase price so your monthly payment is lower
and you can save on mortgage insurance. Again,
the mortgage industry is changing. Nowadays
qualified buyers can buy a home with only 1, 3 or
5% for the down payment and with some
programs you still can avoid paying mortgage
insurance monthly fees. Also, some assistance
programs allow you to buy a home with as little as
$1000 total initial investment. Ask me how. I'm
here to answer your questions. Call me at
(909)477-1515
7- You think you won't qualify for a home loan
because you switch jobs during the last two
years. Or you just graduated from college and
don't have the two mandatory years of work
history. Please, ask me how you may qualify even
if any of the above is your case.
I've been helping people just like you since 1991
and I'm here to guide you and answer all your
real estate and mortgage concerns. Call me at
(909)477-1515
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