#1 California Mortgage Broker | 323-741-5858
Key Takeaways: An exclusive agency listing allows you to work with one real estate agent while retaining the right to sell the home yourself. You only pay a commission if the agent finds the buyer, meaning you pay nothing if you secure the sale independently. This...
Key takeaways: Local tax collectors use the assessed value to figure out your yearly tax bill, while lenders use the appraised value to approve your mortgage or refinance loan. It is normal for the appraised value to be higher than the assessed value because tax...
Key takeaways: Hire your own team: Don't rely solely on the builder's sales rep. You should bring a buyer's agent to protect your interests and hire an independent inspector to catch construction errors before you close. Negotiate the right way: Builders rarely drop...
Key takeaways: A 3-2-1 buydown is a mortgage option that lowers your interest rate for the first three years. Your rate drops by 3 percent in the first year, 2 percent in the second, and 1 percent in the third before returning to the full fixed rate. This strategy...
Key takeaways: Sale pending means the seller has accepted an offer, but the home is not officially sold yet. The deal is simply waiting on final steps like inspections and loan approval before it closes. You can often still submit a backup offer in case the original...
Key takeaways: Mortgage brokers act as a link between you and multiple lenders to help you compare rates and find the best loan for your specific situation. Working with a broker often provides more options than a direct lender since brokers can shop around at...
Key takeaways: A settlement statement acts as a final receipt that breaks down every cost, credit, and fee in your real estate transaction. It shows exactly how much the buyer needs to pay to close and the net profit the seller will receive. Most buyers receive a...
Key Takeaways: Lenders require proof of identity, income, and assets, including pay stubs, tax returns, and bank statements, to approve your mortgage. Legal documents like the purchase agreement, property deed, and title forms are necessary to officially transfer...
Key takeaways: Buyers usually pay for loan-related fees and inspections, while sellers cover the real estate agent commissions and transfer taxes. Closing costs typically range from 2% to 5% of the purchase price, but in California, higher property values and local...
Key takeaways: Select the proper legal structure, such as joint tenancy or tenancy in common, to define precisely how ownership rights are shared between partners. Sign a written co-ownership agreement that clearly outlines financial responsibilities because verbal...
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