Why do I need a "Pre-Approval" letter

One of the first steps to buying a home is getting pre-approved with a lender.  It is also a good idea to use a local lender that is familiar with local lending guidelines as well as loan programs you may be able to take advantage of.  Take the steps necessary to get a letter from the lender stating you are "pre-approved" for a loan in a specific price range. It's important to have this letter before you make a contract offer to buy real estate. Once you're pre-approved, you know what price range of homes you should be looking at.  

An example of loan programs that may be available to you are ZERO down financing through USDA rural housing loans or pay as little as .5% down with the CHF Platinum loan program*.  There are also many other great loan options such as Conventional, 3.5% down FHA or ZERO down VA financing (buyer must meet VA guidelines).  Plus, there may be individual city grant/loan assistance options as well.  Visit my preferred lenders website today to get pre-approved and find out about all of the unique lending opportunities available to you!

Contact Chris Kohler of Alpine Mortgage Planning today!

www.alpinemc.com/chriskohler

916-847-5912

For more information on loan programs click below:

Platinum Loan Program

USDA Loan Program

*USDA rural housing loans have income limits and property must be in a pre-determined rural area.  Platinum Grant program has income limits and the 3% grant can be used toward your down payment or toward closing costs.

If at first you don't succeed...

Try, try again!  The real estate market in our area is showing signs of life and many homes are going into escrow quickly.  Some homes are experiencing multiple offers causing bidding wars and usually when that happens the home ends up selling for higher than list price.  If you are considering buying a home and are concerned that values may drop more, there may be cause to reconsider purchasing a home sooner than later.  Interest rates are amazing and home prices are at record lows.  Overall, home prices have been slowly increasing over the past 4 months.

I am working with roughly 8-10 active buyers in Solano county right now so I am seeing first hand what they are experiencing when they find a home they like.  Many times they write an offer at or above asking and they are still losing out to other buyers that have cash or have simply written a higher overall offer than theirs.  As the market pendulum swings the other way it's important to remember that there is still a lot of inventory on the market.  If you don't get the home you like the first time, keep looking and remember that you will find a home that works for you, even if you have to make a few compromises to get it.  And, make sure you are working with a Realtor that is as dedicated to finding you a great home as you are.  One of my buyers wrote 4 offers over a 3 month time span and after losing a few homes to other buyers (or simply having a bank reject his offer), he re-grouped and re-prioritized what he was looking for in a home and just found a wonderfully updated home which he was able to negotiate a price slightly under the list price.

Commitment and hard work are key to your home buying success!

You may also be noticing that when you call to inquire about a home you saw online, it's already in escrow.  Are you hearing that a lot lately?  If you are tired of missing out on homes that you like you need to get the listings coming to you.  Most MLS service providers (via a Realtor) can automatically update you via email when homes within your criteria hit the market.  Don't be left out!  Request your home search to be set up today.  Visit www.SolanoMoves.com

There will never be a perfect time to buy (once the bottom hits it is easy to miss) & their may never be the perfect home in your price range, but if you can be open to compromise and continuing to search for homes even if you have lost a few that you like, you will find a great home for a great price and will have a fantastic interest rate to top it off in today's real estate market.  Now truly is a fantastic time to buy a home!