Simple Steps To Buying Your LA Dream Home
If you’re looking to buy a house in L.A., you’ll find great dining and shopping, community fairs and an exciting nightlife in West L.A. You may also find Westwood, home to the University of California, Los Angeles, to be another very attractive and neighborhood nearby. In addition to the Spanish-tiled stores and walkways that are part of the UCLA campus area, the neighborhood offers museums, historic movie theaters and botanical gardens. If either of these neighborhoods sounds like what you’re looking for in a dream home location, here are some simple steps to start the buying process.
Find Out What Type of Financing Your Credit Score and Debt-To-Income Ratio Will Get
The terms that lending institutions will offer a potential home buyer depend on your credit score and your debt-to-income ratio. Each bank has its own minimum requirements for a mortgage approval. How much of a down payment you can provide helps to determine the portion of the purchase price you’ll be able to finance.
If you don’t know your current credit score, you can subscribe to a credit-monitoring service and get regular updates. Your debt-to-income ratio can be calculated by comparing your expected monthly mortgage payments to your monthly income. Bear in mind that you’ll need to figure in home owner costs such as taxes and property insurance when you’re looking ahead to your anticipated debt-to-income ratio.
The pre-qualification process that takes place between you and a bank representative will enable you to explore the various terms and financing options you’re qualified for. Some comparison-shopping could prove useful in getting the best possible deal. The more purchasing power you have, the better equipped you’ll be to pursue a greater number of house-buying opportunities.
When you’ve worked out all of the details with your mortgage bank and provided any and all required back-up documentation, it’s time to get a pre-approval amount. Once you’ve obtained this all-important figure, you’re ready to begin the next part of your quest.
We’ll Be at Your Side To Help You Find What You’re Looking For
Navigating your way through the available real estate in West Los Angeles, California, can be made a great deal easier by working with a knowledgeable professional who also genuinely cares about your success. This is one of the most important purchases you can ever make and you’ll want to partner up with someone who gives that fact the fullest consideration. At Dream Homes in L.A., you’ll be working with a team that knows the area thoroughly and is committed to getting what you want.
Going on tours of homes for sale can be an adventure and you’ll be able to avoid wasted time and frustration by working with someone who already has a close connection to the community. We’ll match your price range requirements with the best possible home and location choices and you’ll remain assured that your best interests are being very carefully looked after.
Choosing Your Home and Closing the Deal
After you’ve found your ideal purchase opportunity for real estate in Westwood, California, or West L.A., it’s time to wrap things up with a proper home inspection. Roof condition, electrical wiring, plumbing and HVAC systems are all top priorities and a detailed evaluation can affect your final price negotiations. Your mortgage provider may also require an appraisal at this time.
You’ll have three business days to review all of the loan contract details outlined by your bank. This comes in the form of a closing disclosure which provides important information that you should review carefully before closing the deal. The CD is also going to make note of additional items and expenditures that will be required when you file your income taxes.
The Right Realtor Can Make a World of Difference
There’s a great deal to consider when you set out to purchase a home. It’s in your best interests to choose a realtor who can help you through the entire process. We invite you to schedule a no-obligation and no-fee consultation to tell us what you’re looking for and we’ll explain each of the steps you can expect along the way. We do much more than show properties; we’ll also assist you in obtaining a pre-approval and help negotiate the final purchase price. You’ll be on your way to getting that dream home in L.A. you’ve always wanted.