Let Us Help You Buy Your New Home!
Purchasing a home is a very exciting time, and being well
prepared will help you make better decisions. Take this
opportunity to learn more about home buying and the mortgage
process. Below and throughout this site you will find
information that will help you with the purchase of your new home.
Am I ready to buy?
Buying a home offers many advantages, one of the most
significant being that it allows you to build equity (ownership)
when you pay your mortgage each month. A common myth is that
monthly mortgage payments are more expensive than rent. But,
in many cases, mortgage payments can be even less than rent.
When considering home ownership for the first time, you need
to decide whether buying makes financial and practical sense
for you right now or if you are better off renting. Consider
both the advantages and disadvantages to renting as well as
buying, and weigh the pros and cons for your situation.
How much house can I afford?
The first step toward finding the right home is to
quickly compute your purchasing power and determine how
much you can afford to pay each month. This saves you
time by allowing you to focus on homes in your price range.
In addition, in the planning stage, you should consider both the up-front and ongoing costs associated with purchasing a home.
Some up-front costs include:
Down payment: Typically ranges from 3-30% of
the cost of the house. The more you can put down, the
greater equity you will have in your home and the lower
your monthly payment will be. For down payments less than
20% you may also need to pay mortgage insurance.
Closing Costs: Typically range from 2-6% of the loan amount depending on your area.
On-going Costs: Your housing costs can include the following:
Monthly mortgage payment
If applicable - Flood Insurance
If applicable - Property taxes
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Our Happy Clients
"Mark proved to be an amazing loan agent for our recent home purchase in Lake Arrowhead, CA. He was able to work with our circumstances and overcome many challenges the lending bank presented. Mark was informative, quick to respond, and in constant communication with our real estate agent. We would definitely recommend him to anyone looking to obtain a home loan and will absolutely use him again should we decide to refinance any time in the future."
"Mark did a great job sticking with me on a very difficult loan process. The entire process took almost a year and we had to research many options - but finally found one that made sense for me. Thanks so much!"
"Mark Stillman was focused, knowledgeable and efficient from beginning to end of the loan process. Early on, Mark listed required documentation to be submitted to underwriting. This was a refinance and Mark was very helpful in analyzing income to set a realistic goal for the loan amount."