Understanding the process of financing your home can be confusing, however, there are a lot of perks to homeownership. But at First Castle Financial, we believe purchasing a home is the first step to attaining generational wealth for you and your family.
Step 1
The process begins with a candid conversation with a Mortgage Professional. They will need to complete a loan application, look at your credit, banking information and income documentation. By reviewing and submitting these documents they will be able to provide you a Pre-Approval to purchase. Once this is done, you will be given a checklist of items needed to complete your loan transaction.
Step 2
Meet with an Experienced Real Estate Agent. Real Estate agents are important partners when you’re buying or selling a home. Real Estate agents can provide invaluable information on homes and neighborhoods which are not readily accessible to the general public. Their negotiating skills and familiarity with the area in which you want to live can be extremely valuable. Best of all, it doesn’t cost you a dime – they are compensated from the commission paid by the seller of the home.
Step 3
Make a checklist of MUST haves and start shopping. You will see a lot of homes, take as much time as you need. It will be hard to remember each one so you may want to take pictures or videos to help you. Don’t forget to check out the neighborhood as well.
Step 4
Make an offer: This is where your Real Estate agent will shine to make the best offer possible on your behalf. Your Real Estate agent will work with you to negotiate a fair offer based on the value of comparable homes in the area. Once you have an accepted offer, Escrow and Title will be opened.
Step 5
First Castle Financial is now hard at work behind the scenes: Ordering your Appraisal and any verifications which may be needed reviewing and getting clarification on documentation, your Home Inspection should be ordered and Escrow will send out their instructions of your transaction.
Step 6
Conditional loan approval: Your loan has now been approved by an Underwriter, based on certain conditions being met, (i.e., additional documentation, etc.) YOU are close to the finish line!
Step 7
Please note: There is an enormous amount of paperwork involved in purchasing a home. We will arrange for Escrow to handle all of your paperwork to make this process easier.
Step 8
Sign Final Loan Documents: This is when you will sign all the paperwork to complete your transaction. It normally takes a couple of days for your loan to fund and record. Once the Seller receives their funds the house is yours.
Congratulations
First Castle Financial is here to make sure all your Real Estate needs are met, your questions answered and your home your Castle. Owning Real Estate has been the most consistent avenue of wealth building in the history of the world and is available to the everyday person and we’re here to help you obtain this. After all you deserve a Castle and the knowledge to build a cash flow KINGDOM.
As one of the Premier Mortgage Companies in Southern California, we specialize in Real Estate Financing Solutions. Our goal is to inspire everyone we meet to build generational wealth through Real Estate