Category Archives for "First Time Home Buyer"

Ways to Help Your Mortgage Transaction Close Faster

In this article, we discuss some of the different ways in which you are able to speed up your mortgage application process, and get to “the close” in a shorter amount of time.4893848724_0f53240699

Making the decision to buy your dream home is a huge step in life, although it’s one that you should be proud of taking. It may be stressful at times, but you should be proud of your home and happy to be living there.  The biggest stress of buying is coming up with the down payment. If you’re part of the minority, you will have managed to save up over the years and will be able to buy your dream home without having to worry about where that money will come from.  But most people will need to really discuss the options with their mortgage professional to see how much they will need, and then save, get money from family, or sell something to come up with cash.

Taking out a mortgage can be very stressful if the process is not explained well to you.  You need to understand the monthly payments, the terms of the loan, how you can pay it back sooner, if possible, and how the tax deduction of the interest and property taxes can help you going forward.  In order to do that, you’ll want to make sure that the mortgage transaction is closed as quickly and painlessly as possible.  

The Home

Finding the right home for you can be a difficult task and can often be frustrating.  Low inventory in the Bay Area has made this process more difficult than in other parts of the country. Through the property searches that you will do, it’s important that you keep your hopes high and look at all properties that come up in your price range, as the perfect home often comes available.

When you do find a home, you will have a property inspection to ensure that the home has no issues. An appraisal will ensure that the price you are paying is fair market value, and you will need to get the lender all income and banking information necessary for the loan approval process.


Getting a pre-approved mortgage is a MUST DO in this market.  This will show the seller that you are able to buy his/her home, and the lender is willing to give you the money to do so.  You should start with this “before you start shopping for a home” so that you can show your Realtor that you are qualified to buy in the price range he/she is showing you homes in.

Once you have a pre-approval, you will know your maximum buying price, and you can then decide if that is how much you want to spend. Or you may choose to spend less for your new home.

To Conclude…

The overall message here is that before you take out a mortgage, sit down and think about whether you’re ready to do so. It does not need to be a stressful/last minute ordeal if you prepare yourself and work with a professional mortgage banker throughout the process.  Buying the home of your dreams is possible, but you need to prepare for the financing and do so upfront. If everything is processed properly from the start, you should have no delays.

Karen Cimera