First time buyer, no experience or knowledge of. looking in Martz area for 2-3 bdrm 2 bath but not sure I can afford to buy Help! thanks Anne

Asked by Stothersnancy, Sat Dec 22, 2012

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Gary Wuesten…, Agent, Applegate, CA
Thu Jan 10, 2013
Hi Anne. The first step is to get pre-qualified with a good lender. This is a great time to buy with interest rates at historical lows. I work with loan officers from Wells Fargo, Chase, Bank of America and a broker as well. A broker will shop around for the best loan that fits your needs and qualifications and has many lenders to choose from. A bank has fewer loan programs to choose from but their fees are smaller. It's best to contact a couple of different lenders to help determine what works best for you. When you contact these lenders, be up front with them. By that I mean let them know what your actual situation is - such as employment, amount of money you can bring into the transaction, etc. They in turn should be up front with you. They should be able to tell you how much you can comfortably afford. Once you have this information then you should contact a local realtor that knows the area and market you are interested in.

By the way, Martinez is where I live and is great place to call home. It has a quint older downtown, hiking areas, water access, good schools and low crime.

Please feel free to contact me to ask more questions.
Gary Wuestenberg
DRE # 01339145
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Frank S., , California
Sun Dec 23, 2012
Hello Anne, Sheryl Arndt has programs to buy with as low as half percent down payment to assist you in your purchase if you don't have a large down payment and closing costs to invest. The CHF Access program requires a minimum 580 fico score and can help you with your closing costs too so you can buy with little money out of pocket and the rates are still very low under 4%.

Yes you do need an experienced agent but she has trained many thru her 20 years and even a Rookie will have her expert guidance all the way thru the transaction and would be the same as her being there as she is way out of the area. She has a network of agents that she refers to clients that she does loans for throughout CA. A Rookie without assistance would not work in this market as you want expert experienced guidance through your escrow to funding.

I reccommend you get three good faith estimates from Lenders and choose the one that best fits your needs. If you don't have a lot of money and very high fico scores as most Lenders require or if you need credit repair she can get you approved. Read her profile.

Call Sheryl Arndt 760-486-4225 for your approval to buy and compare with other good faith estimates. She will provide one within an hour and is available whenever you call.
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The Medford…, Agent, Fremont, CA
Sun Dec 23, 2012
Agree with those below – and also recommend you find a Realtor who specializes in first-time buyers. Interview at least three – you want someone who will be patient, has a lot of experience with first-time buyers, is willing to explain everything to you in detail and who has demonstrated success in the current market conditions. It’s a real jungle out there right now – it’s not the time to hook up with a rookie.
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Bernard Gibb…, Agent, Danville, CA
Sat Dec 22, 2012
Hello Anne:

Pacita has it right. Your first step is to find out how much you can borrow.

Let me add one name to that list, John Kay of Mortgage California. (925) 858-5626. This is his cell phone and he works weekends.

The advantage with John is that he is a Direct Lender as well as a broker, so you get the best of both worlds. Plus he always delivers what he promises.

Good luck to you.

Bernard Gibbons, J Rockcliff Realtors
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Pacita Dimac…, Agent, Oakland, CA
Sat Dec 22, 2012
To find out what you can afford and what kind of loan you qualify for . And in the process, you will also know if the type of loan may also restrict you as to the type of home you can buy. For example, if you're getting an FHA loan, some condos are not FHA-approved.

The first step is to talk with a lender --- either a bank mortgage lender or a mortgage broker who may have other resources than just one bank

If you don't have a lender here are three you can call/email/text. They have helped me and many of my clients. Perhaps one of them can guide you along.

Mathew Tsang
Home Mortgage Consultant
(415) 860-3285 cell

Garrick Werdmuller
Your Personal Mortgage Consultant for Life
510.282.5456 Mobile

Brad Steele
Private Mortgage (affiliate of Wells Fargo)
Office: 510-290-2723
Fax: 408-267-4389
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