421 Boyd Street, Suite 1, Vacaville, CA 95688                   707.479.2077

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The Judy Lopez Realty can help you purchase your first or next home.

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What Is Prequalification

Buying a home is not just about pricing and negotiation. A great deal of the process has to do with how well or how poorly a buyer is prepared for making the purchase. This preparation does not take a great deal of time, but it is important to spend some time getting ready before running off to look at specific homes.

Know your reasons for buying a home. Don't simply make assumptions such as "Everyone needs to own their home" or "It is the best investment possible." Yes, there can be some wonderful advantages to home ownership, including pride and accomplishments, potential tax advantages and the build-up of equity. By knowing precisely what your reasons are for buying a home, you will be much more likely keep everything in clear focus.

  • Spend some time analyzing your budget and finances
  • Know exactly how much home you can comfortably afford
  • We will familiarize you with the mortgage process
  • We will tell you about the different types of mortgages that are available and the sources for mortgage loans.
  • Distinguish between needs and wants
  • Get familiarized with Home Inspections
  • We will explain what a "Whole house Inspection" involves.

    What Is Prequalification

    Prequalification is the initial step in securing a mortgage. A lender will analyze your current income, debt, and basic credit history situation in order to qualify you for a maximum loan amount. This gives you a clear picture of your financial parameters and a maximum housing price (the mortgage amount plus your down payment). With pre-approval, the lender verifies your income, debt and financial picture, approving the loan subject to a favorable appraisal of the property you select.

    Finding a Home

    There are probably few things in life that are as exciting or as nerve racking as the search for a house. All the good emotions and the bad emotions seem to converge when the house hunting begins. Don't worry, this is a normal reaction, and is found in seasoned decisions home buyers as well as those who are looking for their first home. By choosing to use an agent, you have made about 80% of listed properties available to you. Without an agent you cannot buy or even view these homes on your own.

    With an organized house buying plan, you can minimize a great deal of the emotional impact. By determining your buying power, your wants and needs, and having an organized search plan, your chances of a stress-free experience are much better.

    Tips on Finding the Right House

    It is very tempting to rush out and actually look at houses, but to do so without full preparation can be both disastrous and expensive.
    1. Get your financial house in order first
    2. Determine what your budget will comfortably allow and stick to it
    3. Get preapproved for a mortgage (our office will help you with this)
    4. Get familiar with the different housing types available
    5. Determine your minimum requirements as well as any additional features
    6. Take note of any items you do not want in a house
    7. Determine the desired location (schools, work, public transportation, etc.)
    8. Familiarize yourself with the mortgage process
    9. Don't just buy a home for your present needs. Make sure to take into account future considerations.
    10. Maintain your perspective and your cool. You may find an acceptable house on the first day or the tenth. The important thing is to get the home that is best for you

    Your House Buying Checklist

    1. Buying your first home: Ask us about first-time buyer programs
    2. Familiarize your self with the mortgage process
    3. Begin the application process: We will get you pre-qualified and pre-approved from a mortgage lender.
    4. Be aware of your credit situation
    5. Work on your budget before you move
    6. Determine your housing needs and wants ...what type of houses should you be considering.
    7. We will advise you on the various types of housing available. Single family, townhouse, and condo
    8. Have questions about buying a home that we will answer for you.
    9. We will tell you about home warranties and what they cover.
    10. Compare and secure homeowners insurance.
    11. Make moving plans