How to Reap the Benefits of Your VA Loan

Are you looking to apply for a mortgage? You can simply apply by clicking this link to take you to the application. If you have any friends, family, or co-workers who are purchasing a new home or refinancing their existing home, please forward  this email to them or reply back to this email with their contact information. I very much appreciate your referrals. I'll take excellent care of them!

If you're considering buying a home with your Veteran's Association loan, then you will want to tune in to this video blog because I will be discussing the best ways to take advantage of this incredible offer. My team and I are willing to answer all the questions you might have surrounding a VA loan, because we specialize in helping veterans find great homes at great prices. 

Our mission is to educate and serve military families. We want to help you, and we invite you to come to our free VA loan workshops which we hold twice per month.

If you have any questions, please don't hesitate to contact us. You have served us faithfully, and we would love the opportunity to serve you!

5 Best-Kept Secrets for Buying a Home

Are you looking to apply for a mortgage? Get your application here
Interested in our FREE VA Loan Workshop? Register here
Need to determine your monthly payment for a mortgage? Use our mortgage calculator

There is a lot to consider before you purchase a home. While there are endless things to consider, we're going to tackle a few of the major thoughts that should be crossing your mind when you commit to buying a property in Southern California. 

One major consideration is how much home you will be able to comfortably afford. Going through the pre-approval process is the best way to determine this. This will then allow you to focus solely on homes that you know you can afford. It's always easier to find a home when you can narrow down your search.

Once you know your financial limitations, you need to pinpoint the type of home that you want. There are single-family homes, condos, etc. Knowing exactly what type of home you want will allow you to act quickly once the home you want appears on the market. Here in Southern California the market moves quickly, so speed and efficiency are critical. It's also important to keep in mind how long you will be living in your home and how it will meet your needs in the future. Planning for the future is extremely important.

Generally speaking, you should have a good idea of what the buying process looks like before you commit to purchasing. This is probably a time where you'll find that the internet doesn't have all the answers. Most often a purchase will include a multitude of steps: offers, negotiations, acceptance, inspections, contracts, loan applications, appraisals, title, loan, etc. 

The process doesn't always take the same order, so it really pays off to speak to a local professional such as myself before you commit. 

Please feel free to contact my lending team when you're ready to buy in Southern California. We would be more than happy to walk you through the process!

Are You Really Prepared to Buy a Home in Southern California?

Are you looking to apply for a mortgage? You can simply apply by clicking this link

The summer real estate season is almost here and I feel it's a good time to go over the do's and don'ts of the loan process. Let's jump right in:

The DO's:

• Keep your records in good order! If a lender requests to see documentation of any kind, you need to be able to share it with them. 
• Be aware that underwriters typically verify your income and tax documents through your employers CPA and/or IRA tax transcripts. Hold on to your new pay stubs as received.
• Continue saving income account statements, keeping all the numbered pages of each statement.
• Document gifts: If you're receiving gift money from relatives, they will need to sign a gift letter, which we'll provide, and an account statement evidencing the source.
• Continue payments on current residence: If renting, continue to pay your rent on time and save your proof of payment; you may also need to show sufficient equity, a lease, and a receipt of first month's rent and security deposit. If you're selling your current residence, be prepared to show your HUD-1 Settlement Statement.
• Keep your credit shining. Continue making payments on time - your score may be pulled again, and any negative change to your score could cause you to lose your approval and your home. 
• Things have changed: Underwriters require more documentation now than ever before. Even if requests seem silly, intrusive, and unnecessary, please remember they wouldn't ask for it if they didn't need it! 

The DON'Ts:

• Apply for new credit: Changes in credit can cause delays, it can change the terms of financing, and even prevent closing. If you must open a new account, or want to borrow against retirement funds, we ask that you consult with us first.
• Change jobs during the process: Probationary periods, career or status changes, such as from a salaried to a commission permission, leave of absence or a new bonus structure, can be subject to very strict rules. 
• Make any undocumented deposits: Primarily large deposits must be sourced, unless they are identified. Make copies of checks and deposits slips, keep deposits small, and avoid depositing cash.
• Wait to liquidate funds from stock or retirement accounts: If you need to sell investments, do it now and document the transaction. Don't take the risk that the market could move against you, leaving you short of funds to close.
• Be afraid to ask questions: If you're uncertain about what you need or what you should do, my team and I are here to help you through the process. Purchasing a home is much easier to do when you have financing in place before you make an offer. 

We're here to help you get started, and it's never too early to do that. Give the Alex Caragiannides Team a call when you're ready!