Property Q&A in Fair Oaks>Question Details

Isdthere, Home Buyer in Carmel, CA

Possibly relocating from Monterey, CA. Pre-qual'd already locally. Do I have to go through different mortgage broker if I relocate to Fair Oaks?

Asked by Isdthere, Carmel, CA Sun Jan 29, 2012

I have been looking to make a purchase either in Carmel, CA or Fair Oaks, Ca (based on school preferences for my children). Am already working with an agent on the peninsula, and have gone through finance qualifications with mortgage broker there too. If I decide Fair Oaks is where we will purchase, I realize I will need a buyers agent, but do I need to re-locate my financing & its processing all over again as well?

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Answers

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Wow...what a fantastic choice...I envy you! Your loan options as equally as good...you can choose to keep your lender or find a local person so you can speak to them face to face. Are you a first time home buyer? The reason I ask is because there are a number of new programs out there specifically geared to help prospective first time home owners...and first time doesn't mean exactly that...you just need to not have owned a home within the past three years. I'm a local agent so please visit my site if you'd like more information on the area.
Happy hunting!
~Beth
0 votes Thank Flag Link Sun Jan 29, 2012
I concure with Mrs. Schultz. If you have confindence in your lender then by all means use them. As part of looking out for your best interest they should already be doing their due diligence in exploring all available financing options. Fair Oaks is a fabulous area but I would highly recommend expanding your search to include areas in close proximity to F.O.'s such as Folsom or even Granite Bay for example so that you can get a true feeling of what homes and lifestyle ammenities the area has to offer.

Also, don't worry about having to pre-qual with a specific bank on certain purchases...You can't throw a rock in this area without hitting someone that can help you take care of that and still keep your lender.

Have a nice day and I hope that you choose to make this part of Northern California your home.

Sincerely,

Chad

Chad Herron
(916) 717-6387
chad@chadherron.com
http://WWW.FAIROAKSLIVING.COM
Realtor- 01468628
0 votes Thank Flag Link Sun Jan 29, 2012
No - you can absolutely keep your lender! I would love to be your buyers agent should you choose Fair Oaks as your home. You may call or e-mail me anytime.

Toddy Schultz, Realtor
tschultz@golyon.com
(916)342-3573
0 votes Thank Flag Link Sun Jan 29, 2012
You don't necessarily need to go through the pre-qualification process all over again, though it may have some advantages. Your mortgage broker is qualified to do loans throughout CA, but a local expert may know of local loan programs better than your Monterey broker. Also a local broker reccomended by your buyers agent is going to benefit you because now you have a team working for you. They work like a team because they depend on eachother outside of a singular transaction. Hopes this help you make a decision. If you'd like further help check out my website at http://www.isellfolsomhomes.com. Happy house hunting!
0 votes Thank Flag Link Sun Jan 29, 2012
Depends on what properties you make an offer on, nowadays, some banks requires their own pre qualification, like bank of america, wells fargo, chase, etc, if you decide to make an offer on these bank owned homes, you might need to get pre approval with each lender. However, I am pretty sure the agents here would like you to pre approve with their preferred lender to ensure your financing are solid. Sometimes, mortgage broker can over qualify you for a price, it is usually a good idea to get multiple lenders to look into your financing. You won't believe how many deals fall through after getting contract accepted, due to financing.
0 votes Thank Flag Link Sun Jan 29, 2012
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