Home Buying in San Jose : Advice

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Steve Romero, Real Estate Pro in San Jose, CA
Should I pay discount points when buying a home? A discount point is the cost associated with buying a lower interest rate from a bank, or lender.One discount point is 1% of a loan amount. For example,… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
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Steve Romero, Real Estate Pro in San Jose, CA
I asked for some input, from one of my customers. I wanted to know what she thought a new buyer should be aware of, before they start the process. Here's the reply:You need to start thinking about how… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
Steve Romero, Real Estate Pro in San Jose, CA
An important element in the loan process is the interest rate you will pay over the life of the loan. Once you have a sales contract with the sales price, property address, and closing date, you will be… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
Steve Romero, Real Estate Pro in San Jose, CA
Listed below is a link to the Government web page for the I.R.S. (Stay tuned, the link is currently down for an update.) Now is a good time to review the Gross pay from 2012, to figure out how the Mortgage… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
Steve Romero, Real Estate Pro in San Jose, CA
The Escrow Company and the Mortgage Lender will work together to finalize the details once you sign your loan papers. This will require your hazard insurance (fire insurance) provider to deliver an insurance… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
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Steve Romero, Real Estate Pro in San Jose, CA
Once the appraisal has been performed, and the inspections have taken place, the file is prepared by a Processor for Underwriting. A good Processor will work together with the Loan Representative, to ensure… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
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Steve Romero, Real Estate Pro in San Jose, CA
This is when the Escrow is opened, the Appraisal, Home Inspection and sometimes Pest Inspection (Termite Report) take place. The Appraisal - An appraiser reviews recent home sales to place a dollar-value… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
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Steve Romero, Real Estate Pro in San Jose, CA
Once you have the benefit of the Pre-Approval, you will have confidence in your purchasing power. You should also understand the effect of various price ranges on your monthly payment and finances.Now… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
Steve Romero, Real Estate Pro in San Jose, CA
The Pre-Approval Step provides the security you need when purchasing a home. It'a a process which seeks to document your income, credit-worthiness, and the ability to obtain a loan up to a particular limit/purchase… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Home Ownership
Steve Romero, Real Estate Pro in San Jose, CA
Here's an overview of the home loan process. In the coming days I will break-down each step in greater detail. My hope is to give you a better idea of how the process works and what is involved when buying… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
Steve Romero, Real Estate Pro in San Jose, CA
Why use the VA Program?VA technically does not have Mortgage Insurance. VA does have a Funding Fee, which is VA's form of insurance. If you're a military veteran who receives any compensation as a Disabled… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Military Movers
Steve Romero, Real Estate Pro in San Jose, CA
Because of my experience with the VA Home Loan Program I was asked this morning for some ideas on how the Government, namely the State Assembly, could make the VA Home Loan Program a more viable option… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Military Movers
Steve Romero, Real Estate Pro in San Jose, CA
Comstock Mortgage does not charge a Veteran an Origination Fee, which is usually the largest expense for a VA home buyer. Since Comstock Mortgage does not charge a Veteran the 1% Origination Fee, the… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Military Movers
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Steve Romero, Real Estate Pro in San Jose, CA
When purchasing a home, buyers should not apply for any unnecessary credit, which includes cell phones, new cars, credit cards, solar energy system, etc. The process of obtaining a loan is a snap-shot… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
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Steve Romero, Real Estate Pro in San Jose, CA
A 'Seller's Market' is when the current real estate market is more favorable to a Seller than a Buyer. A lack of, or low inventory puts the Seller in a better bargaining position. As a Buyer, a Seller's… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Market Conditions Home Buying Financing
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Steve Romero, Real Estate Pro in San Jose, CA
A VA loan can be used  to purchase a condominium provided that the condominium complex is on the VA Approved Condominium List. A borrower wanting to purchase a condo with a VA loan must purchase a unit… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Military Movers
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Steve Romero, Real Estate Pro in San Jose, CA
Your credit score has the biggest impact on your ability to get a loan. It's important that you know what needs to be corrected on your report, before you begin the purchase process. An experienced lender… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Credit Score
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Steve Romero, Real Estate Pro in San Jose, CA
I continually have agents ask me if a VA buyer can use FHA financing instead of VA? There is no benefit to FHA financing, other than a higher monthly payment. Anyone with decent income and good credit… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing Military Movers
Steve Romero, Real Estate Pro in San Jose, CA
It's a common myth that you'll get a better deal on a house if you use the Seller's Realtor. As a buyer, you have the right to have a Realtor represent you when you buy a home. The primary responsibilty… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Home Buying Financing
Steve Romero, Real Estate Pro in San Jose, CA
Buying a home is a transaction that you encounter two, maybe three times in your life. One of the most important decisions you will make are the support team that you select. Your support team includes… Read more
Blogged Sun Mar 2, 2014 by Steve Romero Using Trulia Home Buying Financing
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