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A lot
of people consider owning their own home to be a realization
of the "American Dream." Homeownership brings a natural
sense of pride, accomplishment and belonging, as well as financial
respectability and security. As a result, buying a home is an
important event in most people's lives. At Parc Bay
Real Estate, we help clients to make their "American Dream"
comes true. Let's look at one of the most important step in the purchasing process - financing. You may have heard about "Prequal or Preapproved", let's take a look at the benefits of doing so. 
Gives you benchmarks. Many buyers, especially those purchasing a home for the first time, do not have a realistic picture of how much they can afford to spend.
Saves time. By using the prequalification information, we can help you eliminate some homes early on, so you don't have to spend so much time looking.
Helps establish priorities. No home is going to be perfect, no matter how much you pay. Going through the prequalification process helps. You focus on which of the features you want in a home are most important.
Avoids frustration. Prequalification can eliminate the frustration you feel when you find the perfect house only to discover during the loan application process that you cannot afford it. Once this happens, the homes you can qualify for often don't match your expectations.
Preaaproved is a lender's commitment to lend; prequalifying is a verbal exchange in which the lender tells borrowers in advance how much money they can borrow. Get homebuyers Preapproved, not just Prequalified
will make you more attractive to sellers because purchase contracts do not have a contingency clause that makes the contract binding only if you qualify for a mortgage. Secondly, lenders can detect any potential problems that might make obtaining a loan difficult. Lastly, you can learn about credit report errors, high debt balances, and an insufficient downpayment early may give you time to correct the problem before you apply for a loan. You can reach us to help you with preapproved or prequalifying, contact us today.
1. Write it down. Make a short list of things you require in a home, things you would like to have, and things you do not want. This will help you to think past the basics like number of bedrooms, baths, size of yard, and whether you would be willing to buy a fixer-upper. We will find you a dream home.
2. Know your score. Your first impression to mortgage lenders will be your credit history. The websites of the 3 major credit reporting agencies are: equifax.com, experian.com, and transunion.com. Study your credit report and question anything that may be incorrect. We can help you prepare for the mortgage process.
3. Know your kitchen. The kitchen in your new home is more than a place to prepare
meals. It's the center of most family activities. It should
be an easy trip from the car to the kitchen to minimize the
chore of bringing in groceries. As your agent, we will minimize
the chores of purchasing your next home and maximize your satisfaction.
4. Submit offer. If you have the opportunity to bid on a home with multiple
offers, make sure yours is the most attractive. Too many contingencies
will appear as loopholes for you to forfeit the contract. Too
few contingencies may not provide enough protection. As your
agent, we will find the balance to get your offer accepted.
5. New vs. Existing. Newer and older homes have advantages of their own. Older homes are typically located in more established neighborhoods, and have lower property taxes. Newer homes offer modern architecture, are easier to maintain, and are more energy efficient. You can visit our new development section to locate your dream home in a newer neighborhood.
At Parc Bay Real Estate, our agents are active members of the following organizations to ensure you the safest and smoothest transactions.
National Association of Realtors
California Association of Realtors
San Francisco Association of Realtors
To stay in touch with the current rapid real estate market pace, subscribe with us to get client-only access to real estate news, weekly open house schedules, home sold statistics and email updates.
If you wish to receive a complimentary 15-page Buyer's Guide,
you can send us an email at info@parcbay.com.
Be sure to include your mailing address and name to ensure proper
delivery.
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