Buying a Home Around Manhattan Beach

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Buying A Home in Manhattan Beach

Home Buying Basics

Buying a Home Around Manhattan Beach

Buying | Home Loans | Manhattan Beach — Regardless of your level of homebuying experience, rely on the nation’s leading direct lender for financing decisions. We offer a wide range of product options to better meet your needs. And, we offer the experienced advice of a personal mortgage expert to help you figure which option is best for you. We will work with you to make certain your home buying process is ideal.

Here are the basics of what you need to know when buying a home. Even if you have limited savings, our low-down payment programs can help you become a homeowner.

1. Get Preapproved Before You Begin House Hunting.
  • Learn how much financing is available to you
  • Strengthen your bargaining position with sellers
2. Choose a Real Estate Agent.
  • Select a reputable professional who knows the market and will listen to your needs
  • Ask agents for references from former clients
3. Find the Right Home.
  • Determine the needs of you and your family
  • Create a wish list of desirable features
  • Take notes as you preview homes
4. Make an Offer.
  • Your real estate agent presents your offer to the seller, who will accept, counter or reject it
  • When the price is settled, you and the seller sign a Purchase Agreement, defining the terms of the sale
5. Have the Home Inspected.
  • Hire a professional home inspector after the offer has been accepted to provide an in-depth look at the basic systems of the house, to reveal any safety hazards and give you a chance to reconsider the deal
6. The Home Will be Appraised.
  • An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value
7. Obtain TItle Insurance (where applicable).
  • This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership
  • The policy insures against any losses to the property that result from defects in the title or deed
8. Close on the Property.
  • Ownership of the property is transferred
  • A closing agent coordinates and distributes all the paperwork and funds

And you become the proud owner of your new home! Whatever your home financing needs, we are ready to help with a broad range of programs and personalized service. Call today and speak to our mortgage professionals to get started.

General Requirements of Buying a Home

Buying a home doesn’t have to be a stressful process. With a little preparation, you can save a lot of time and hassle by having all of your documents ready when you initiate your loan application.

Below is an outline of what documentation is required for a purchase loan process. Additional documents may be required if there is any specific situation.

  • Deposit receipt of down payment, explanation of source of down payment
  • Purchase contract
  • Pay stubs for the past 30 days
  • Last two years of W-2s
  • If self-employed, personal income tax returns for last two years with all schedules
  • Last two months’ bank statements with ALL pages for checking, savings, 401k, IRA

Let us help you evaluate your personal situation and assist you in finding the loan program that works best to meet your individual goals and needs.

30 Year Fixed

15 Year Fixed

FHA Loan

Other

We understand that financing your home is one of the most important decisions you make in your lifetime. Mortgage Capital Associates, Inc. (MCA) would like to make your experience as delightful as the time you will spend in your new home. Explore the full range of home loan options available to you at no obligation. Our experienced mortgage experts are available to speak to you personally.

What will a lender look at when I apply for a mortgage?

What does it mean to get prequalified?

What does it mean to get preapproved?

Do I have to have a specific property in mind?

How long does it take to complete my home loan refinance/purchase?

What is the minimum down payment I can make on a home?

Will I have to pay for Private Mortgage Insurance (PMI)?

What is the difference between a second home and an investment property?

What if I have had credit problems? Will I be turned down for a loan?

What are the minimum down payment requirements available for a conventional, FHA, or VA loan?

How long do I have to pay for Private Mortgage Insurance (PMI) if my loan requires it?

Can I apply a gift towards a down payment?