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First time buyer guide
1. First Time Home Buyer
A Simple Guide
June 1, 2016
www.InvestinSouthBay.com
2. ❖ Pre-qualify for a home loan
❖ Determine the maximum purchase price and amount of down payment required by consulting with a local
lender. Click here for a list of lenders in South Bay with proven track record. Obtain a pre-approval letter
from your lender. Click here for a list of recommended lenders in the South Bay area.
❖ Find a local Realtor
❖ Finding the right home and the home buying process is best handled by a well-trained and experienced
Realtor, who is willing to commit to your needs. You should choose a Realtor who you feel comfortable and
willing to take the time to explain everything every step of the way. Click here to contact us.
❖ Find the right home and submit an offer
❖ Let your Realtor show you homes to fit your needs and determine an appropriate purchase price for you. An
experienced Realtor is equipped with the latest data to determine a reasonable purchase price for the
property. You will need a pre-qpproval letter, a deposit check (about $3,000), a copy of a bank statement and
a purchase offer prepared by your Realtor.
❖ Open escrow once an offer is fully accepted
❖ Your Realtor should guide you through the entire process of buying a home, including opening of an escrow,
getting you all the necessary documents and disclosures.
(Continued)
Basic Steps of Home Buying
3. ❖ Get a professional inspection done for the property
❖ This is a very critical step in finding out all the defects and particulars of a property. A good property
inspector can discuss all worthwhile deficiencies and details about the property and provide you with a
comprehensive inspection report. Of course, the inspection is normally performed at your expenses
(approximately $300 for a house). The findings about the property allows you to make a decision to continue
with the purchase, cancel the offer, make repair requests to the seller or make an adjustment in the price.
Click here for a list of recommended property inspectors in the South Bay area.
❖ Complete the loan process
❖ Your lender will order an appraisal for the property (at your expense).
❖ Get a loan approval (or conditional loan approval). Remove all loan contingencies detailed by your lender
❖ Sign loan docs (approximately 5 days prior to closing of escrow).
❖ Deposit remaining funds to close the escrow.
❖ Close escrow and obtain keys
❖ Enjoy your Dream home! Don't forget your Home Warranty!
Basic Steps of Home Buying
4. Contact us for more information
Click here to contact us for home buying inquiry
Visit our website at:
http://www.investinsouthbay.com
Call: (310) 528-4271
email: salim@InvestinSouthBay.com
5. Recommended lenders in South Bay Area
Nicholas A. Costa II
Branch Manager
NMLS# 485760
Office 310.602.3912
Cell 310.941.1666
2790 Skypark Drive Ste. 116
Torrance, California 90505
NickCosta@eaglehm.com
http://www.NickCostaII.com
Jonathan Caguioa
Mortgage Advisor
Allianz Mortgage Services
Phone: 949-241-2527
Fax: 866-296-9115
lenderguide@gmail.com
Tony Gonzales
Sales Manager
NMLSR ID 942323
Wells Fargo Home Mortgage | 3400 Torrance
Blvd, Suite # 104 | Torrance, CA 90503
Tel 949-378-6322 | Fax 866-630-2712
tony.gonzales@wellsfargo.com |
www.tglending.com
Jerry Friedman
Platinum Home Mortgage Mortgage Lenders
20501 S. Avalon Blvd., #A
Carson, CA 90746
310-901-5726
JFriedman@ephmc.com
6. Recommended Property Inspectors in South Bay
Del Fine Inspections
Vince Del Fine
Owner/Inspector
Cell: (424) 264-4719
Email:
delfinehomeinspections@gmail.com
www.delfinehomeinspections.com
Facebook: Del Fine Home
Inspections
Greg Terry
Diamond Property
Inspections
(951) 351-1855
7. •
Recommended Home Warranty Providers in South Bay
First American Home Buyer Protection
Kara Ratelle
Area Manager
cell: 310.617.5486
kratelle@firstam.com
8. •
Want more details?
The following website will provide you
with a detailed discussion of home
loan and the buying process.
HOme Buying Tips & Tricks
The following website will provide you
with a detailed discussion of home
loan and the buying process.
Home Buying Tips & Tricks
The following website will provide you
with a detailed discussion of home
loan and the buying process.
Home Buying Tips & Tricks