New Home Purchase Loans

1. The first step in buying a house is determining how much you can afford. Knowing how much you can afford to pay in mortgage payments will help determine which homes are in your price range. A general rule of thumb is that your fixed expenses (mortgage payment, insurance, taxes, but not maintenance and repairs) should not be more than about 28% of your income.
   
   
2. Before you find the right house, it's best to first secure financing. This step will be made much faster if you're pre-approved by PacificFirst Mortgage. There are different types of loan programs, so it's important that you research your options thoroughly. You should seek assistance from your Loan Officer when necessary and collect personal financial documents to submit together with your application. Once you've submitted your application, PacificFirst will begin the loan process and provide your personal details to our selected lenders.
   
   
3. Once you begin to look at homes, it's strongly recommended that you associate with a licensed real estate agent to help you in your search. Real estate agents can be a great source of information when buying a home. In addition to letting you know which homes are for sale, they can also answer questions about your sales contract, offers and counter-offers, as well as the numerous details involved in closing the Escrow on your new home.
   
   

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