What is the first step when deciding to buy a home?

Asked by Trulia Huntington Beach, Huntington Beach, CA Wed Apr 3, 2013

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Josh Barnett, Agent, Carney, OK
Wed Apr 3, 2013
There are two:
1. Click on Trulia's "Mortgage" tab at the top of the page and get approved
2. Click on Trulia's "Find a Pro" tab at the top of the page and hire a Realtor
1 vote
, ,
Thu Jul 25, 2013
Determine true needs not wants and be honest with yourself about price. Ask yourself these questions. If I make this decision, will it be in alignment with my long term goals. Will the new payment be affordable?, if I lose my job or get injured how many months reserves will I have set aside to weather the storm. How does my short and long term disability work? How much does unemployment pay out. Just because you qualify doesn't mean go out and buy a home. The last thing we all think about is how we will handle adversity when faced with it.

I don't mean to be a bummer but just be real about it. Reach up and grab the fruit that best suits the overall picture. Most lenders won't look out for you and be a place of reason. If you lose your home due to being over extended, you'll look back and regret the choice. Structure is freedom. I hold a license to run numbers, quote rates all day. Im a mortgage banker. This doesn't mean I can lead my clients off a cliff and sign a $500k loan for a family that straps them to a bomb. A good rule of thumb isn't Fannie 45% DTI. I'd say 35 or less a d have cash set aside AFTER you close. I'd say 12 months living expenses. Don't overspend on furnishings. Add them as the months go on and don't use credit cards on it. Be thoughtful and keep in mind. Structure is freedom. Freedom is fun!

0 votes
Erica Galli, Agent, Irvine, CA
Fri Apr 26, 2013
You will first want to get pre-approved by a lender so you know what you can afford. You might be able to afford more than you think! I have a terrific lender who can help you. My lender has a 97% no private mortgage insurance program if you are looking to put down less than 20%. You can email me at Ericasellsorangecounty@gmail.com or call me at (714)-248-2036 for more details.
0 votes
Martie Garcia, , Huntington Beach, CA
Sat Apr 13, 2013
Before getting all caught up in the high emotions and attractiveness of all the different deals and homes out there; get the sales price, and payments that you are going to be able to live with out of the way!!! Yes, even though you don't want to hear it or don"t want to do it, TALK TO LENDER FIRST OVER THE PHONE OR ONE CAN COME TO YOUR HOME. If you want to do this, call me 714-655-5810 or email me at martiegarciarn@gmail.com
0 votes
Annette Law…, Agent, Palm Harbor, FL
Mon Apr 8, 2013
What is important to you about buying a home?
Go deeper. You will discover, going deep on this question will elevate you to the highest form of yourself. From there, your highest form, you wll make the very best decisions.
What type of home do you require?
What home are you qualified to buy?
Does it appear doable?
These questions can be skillfully navigated by your real estate consultant. The outcome of these intelligent and probing questions will allow your consultant to understand the solution that is best suited to your situation. Your agent can then direct you towards the funding resource that is most likely to end in success and not frustration.

Best of success to you,
Annette Lawrence, Broker/Assoicate
Remax Relatec Group
Palm Harbor, FL
0 votes
Bill Eckler, Agent, Venice, FL
Mon Apr 8, 2013
First steps? They are defined by the customer and their needs. With this said, beyond making financial arrangements buyers should determine their budget, general location and of course, personal search criteria on which to base their search.

0 votes
Bob Mellema, Agent, Huntington Beach, CA
Mon Apr 8, 2013
The First Step is to talk to a Professional Realtor.
Call me 714 893 2800
0 votes
Ingrid Ski R…, Agent, Mission Viejo, CA
Thu Apr 4, 2013
Hi There,

The first step is to talk to a few lenders and see what is best for you besides the int rate. I can give some ideas of what to ask and look for

Next to interview a couple of agents to see what they can do for you. I can give you some ideas on what to ask

Then you have an idea how ready you are an can start looking for homes. That is a process to in this market with lots of buyers and how to position you to get the home.

Next step is making the offer getting accepted and opening escrow. Knowing what will be happening in this stage is important and exciting until closing

Contact me for your questions and some helpful info. Talk to you soon

Ingrid Ski Realtor
0 votes
Xavier Saave…, , Huntington Beach, CA
Thu Apr 4, 2013
You should have your financing in place first.
0 votes
Howard & Geri…, Agent, Huntington Beach, CA
Wed Apr 3, 2013
The first step is to get all of your financial resources in order and ready to meet with a "Lender" that is a licensed Mortgage Broker or Loan Officer with a direct bank ie: Chase, Wells Fargo, B of A, etc. This meeting will be the initial step in determining what types of loans are available and what loan amounts you are qualified for! From this point you and your lender can translate this into a Price Range that you are comfortable with! This will of course depend on your total monthly mortgage payments--Principle, Interest, Taxes and Insurance! As part of this first step in the home purchase process, and assuming you have already decided where you want to buy a home, it would be in your best interest to decide on a licensed real estate professional to work with in finding you the perfect new home and in the complete process of successfully purchasing that home.
My wife Geri and i work together as a team to better serve our clients. Combined, we have over 37 years experience successfully selling homes in Huntington Beach and the surrounding coastal communities. We're always available to help out in any way possible!! Call or e-mail us with any questions or to discuss the possibilities in more detail Cell: 714-425-1899, e-mail: breenteam@thebreenteam.com. You can also check us out on our
web-site http://www.thebreenteam.com. From our site, you can search all homes for sale and listed in the Southern California Multiple Listing Service.

We look forward to hearing from you:

Howard & Geri Breen
Broker Associates
Star Real Eatate
0 votes
Raymond & St…, Agent, Huntington Beach, CA
Wed Apr 3, 2013
The first-step is to get yourself educated all about home-ownership. You will need to learn and understand the vast responsibilities of home ownership. Most people think that home-ownership is for everyone. It is not! There is a lot of responsibility involved in owning a home and you should understand what is involved, before just jumping in. There are tax advantages and liabilities. You should speak to an accountant to learn about these. The next person to speak with is a good financial planner to assist you determining what you can afford to spend on a home. Next is the mortgage planner who can assist you with selecting the very best loan for your specific needs. Large financial institutions often just sell their own investor loan packages. You should shop around for the best home loan and don't trust your local institution to have your best interest in mind. You will need to get pre-approved for home loan, just to see how much you can borrow. Next is the insurance agent! There is financial and personal liability involved in home ownership is significant, so a professional insurance agent can help you protect yourself. Most homeowners are way under insured. You need to understand the risk involved, so should a fire or other disaster occur you don’t end up homeless… Next is home maintenance: The type of property you purchase may be low, moderate or high maintenance. Because the home you purchase must be maintained inside and out, you must have a good agent to help guide you towards the best purchase. Not all agents are created equal, so choosing the right agent is essential. You need someone who can answer any questions that arise. I hope this information was useful to you.
Best regards,
0 votes
Andres Moral…, Agent, Tustin, CA
Wed Apr 3, 2013
The first step is asking yourself what is important to you about deciding to buy a home? The second step is surrounding yourself with a group of professionals that will treat your money like is theirs, trust but verify. Depending on your situation It also recommended to educate yourself as much as possible regarding the process. A great place to obtain education are local HUD approved non-profits, some local HUD approved non-profits have first time home buyer classes that are very helpful to the future homeowner, and in many cases or in many city's they offer down payment assistance programs which are very helpful in the purchase of home. Here is the website http://www.cccsoc.org/homebuyer-education-certification/

If you have any additional questions please let me know, my answers are free.

Andres Morales
California Real Estate Broker
GRI, E-PRO, S.F.R. , C.H.S. , H.P.S. , C.M.H.S. , S.C.M.S.D.C. , V.O.S.B.


"Andres Can Help"

17291 Irvine Blvd
Suite 202
Tustin, CA 92780
949-306-9260 Direct
714-505-0100 Office
949-259-4550 Fax
0 votes
Cindy Davis, Agent, San Diego, CA
Wed Apr 3, 2013
The first step is to consult with a qualified mortgage broker or bank. Start by asking friends and family for recommendations. If that doesn't yield results, go to your local yelp and look for someone highly rated.

It's hard to go shopping when you don't know how much you have to spend!! So, this is really the first step. Once you take a look at the numbers, you may then decide to progress forward, or wait awhile.

Good luck,
0 votes
, ,
Wed Apr 3, 2013
In order to ease our borrowers' frustration of making multiple offers and not getting them accepted, my company has recently rolled out a solution that has been providing great resultst...We call it "Keys on Time Guarantee".

This program guarantees to close the transaction on time, or the borrower gets $795 refunded to them. (we have never had to pay that money out so far)! We are the 27th largest non-depository Mortgage Bank in the United States, so we are closing our fair share of transactions.

We are closing these loans so quickly that we feel extremelly confident that we can help buyers write a contract that will stand out from the others; from reduced escrow days to the one of a kind "Keys on Time" Certificate that we provide to submit with the offer, and stand out from the crowd of offers.

Contact me if you want to learn more?



Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
NMLS 304353 - DRE 01380701
0 votes
Rochelle Cha…, Agent, Mission Viejo, CA
Wed Apr 3, 2013
There is a couple of things that you can do, such as get prequalified and know what your comfortable spending on a home. You want to make sure you stay within a monthly payment that allows you to sleep at night. If your not sure about a specific area, it's good to drive around and eliminate any areas that you don't like. During both of those activities it's nice to ask friends or co workers if they have an amazing agent to refer you to and schedule an appointment to see if you want to work with that agent. Once you select an agent they will go over what your looking for and set up a search on the MLS as well as start to show you homes.

Please let me know if you have any questions.

Rochelle Chacon
Keller Williams Realty
949 533-1262
0 votes
John Alesi, Agent, Rancho Santa Margarita, CA
Wed Apr 3, 2013
Definitely spend some time with a mortgage professional who will help you determine "how much house" you can purchase. It's better to begin your search knowing the price range you can comfortable handle rather than looking at home that are out of range financially.

John Alesi
CENTURY 21 Award
0 votes
James Melton, Agent, Newport Beach, CA
Wed Apr 3, 2013
The first step is to get pre-approved for your financing (if not paying cash) and assess your buying power. Then, knowing how much you can qualify to buy, you won't waste the time of the Realtors, sellers (and most importantly--your time!). Lending is much tighter today, compared with several years ago. My company is a one-stop shop that can handle your mortgage and your Realtor representation throughout southern California. We handle properties of all price ranges, and have a proven track record of top closing ratios and satisfied clients. Please contact me personally. I'll be happy to guide you through the whole process to your dream house.


James Melton, Realtor & Mortgage Broker, CA DRE Broker #01222353, NMLS #300133
President, Victory Mortgage & Real Estate Home Loans & Sales Since 1979, NMLS #366399
2901 W. PCH, Suite 200, Newport Beach, CA 92663
cell(714)318-4664, phone(949)939-9676 or (714)374-0022, fax(714)844-9094
web http://jamesmelton.listingbook.com
email jamesm@socal.rr.com
0 votes
Cyndi Mino, Agent, Huntington Beach, CA
Wed Apr 3, 2013
The first step is always to contact your lender. Before falling in love with a home, it's best to find out how much you are really qualified to purchase and what type of financing you will be using. You then need to go over all your finances and decide if you are really ready to become a homeowner as the mortgage payment is only part of your monthly expenses. There is a lot more but this is basically the very first step.........
0 votes
, ,
Wed Apr 3, 2013
If you are planning on financing the purchase, know how much you can qualify for
0 votes
Kevin Sander…, Agent, San Diego, CA
Wed Apr 3, 2013
First step.... Talk to a lender!
Can't buy a home if you don't have the money.
You will probably get several references today from your question.
My preferred lender is Jon Shrum and can be reached on his cell at 714-614-3707
He can help you get pre qualified for a loan and get you on your way to buying a home.

Kevin Sanderlin
Keller Williams Realty
Cell 714-588-7881
0 votes
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