Our Preferred Vendors

Mortgage Lenders

We have compiled a list of mortgage brokers who can help you to get prequalified.

Movement Mortgage

Sean Teague 760-285-3545

Sean.teague@movement.com

www.movement.com/sean.teague

 

Bidi Chapa 760-501-5217

bidi.chapa@movement.com

 

 

 

Pre-Qualification and Pre-Approval

Many buyers apply for a loan and obtain approval before they find the home they want to buy.  Why?

Pre-qualifying will help you in the following ways:

  1. Generally, interest rates are locked in for a set period of time.  You will know in advance exactly what your payments will be on offers you choose to make.
  2. You won’t waste time considering homes you cannot afford.

Pre-approval will help you in the following ways:

  1. A seller may choose to make concessions if they know that your financing is secured.  You are like a cash buyer, and this may make your offer more competitive.
  2. You can select the best loan package without being under pressure.

HOW MUCH CAN YOU AFFORD?

There are three key factors to consider:

  1. The down payment
  2. Your ability to qualify for a mortgage
  3. The closing costs associated with your transaction.

DOWN PAYMENT REQUIREMENTS:

Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan.  If you are able to come up with a 20-25% down payment, you may be eligible to take advantage of special fast-track programs and possibly eliminate mortgage insurance.

CLOSING COSTS:

You will be required to pay fees for loan processing and other closing costs.  These fees must be paid in full at the final settlement, unless you are able to include them in your financing.  Typically, total closing costs will range between 2-5% of your mortgage loan.

QUALIFYING FOR THE MORTGAGE:

Most lenders require that your monthly payment range between 25-28% of your gross monthly income.  Your mortgage payment to the lender includes the following items:

  • The principal on the loan (P)
  • The interest on the loan (I)
  • Property taxes (T),
  • The homeowner’s insurance (I).

Your total monthly PITI and all debts (from installments to revolving charge accounts) should range between 33-38% of your gross monthly income.  These key factors determine your ability to secure a home loan: Credit Report, Assets, Income, and Property Value.

 

 

 

Home Inspectors

We have compiled a list of Service Providers from Home Inspectors here in the valley:

CTS Inspections

Casey Slaton

(909)771-6036

Integrity Home Inspection

Kevin Moran

(760)578-1135

 

Agape Home Inspection

Frank Smith

(760)567-2777

 

WIN Home Inspection

Ed Herman

(760)837-9597

 

Home Inspection

If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection.  The inspection will include the following:

  • Appliances
  • Plumbing
  • Electrical
  • Air conditioning and heating
  • Ventilation
  • Roof and Attic
  • Foundation
  • General Structure

The inspection is not designed to criticize every minor problem or defect in the home.  It is intended to report on major damage or serious problems that require repair.  Should serious problems be indicated, the inspector will recommend that a structural engineer or other professional inspect it as well.

Your home cannot “pass or fail” an inspection, and your inspector will not tell you whether he/she thinks the home is worth the money you are offering.  The inspector’s job is to make you aware of repairs that are recommended or necessary.

The seller may be willing to negotiate completion of repairs or a credit for completion of repairs, or you may decide that the home will take too much work and money.  A professional inspection will help you make a clear-headed decision.  In addition to the overall inspection, you may wish to have separate tests conducted for termites or the presence of radon gas.

In choosing a home inspector, consider one that has been certified as a qualified and experienced member by a trade association.

We recommend being present at the inspection.  This is to your advantage.  You will be able to clearly understand the inspection report, and know exactly which areas need attention.  Plus, you can get answers to many questions, tips for maintenance, and a lot of general information that will help you once you move into your new home.  Most important, you will see the home through the eyes of an objective third party.