Monday, April 15, 2013

Why Mortgage Lender Pre-Approval is Important

Why Mortgage Lender Pre-Approval is Important
by Veronica Cabrera

Phase One Pre-Approval


One of the most important things a potential homeowner can do is
get pre-approved prior to viewing any homes.

Once you have decided to purchase a home the best thing to do is find a licensed and reputable mortgage lender who can help you determine the amount of home you can afford. What many potential homeowners may not know is that it takes time for pre-approval papers to be authorized.

 The mortgage lender will ask you personal questions relating to your finances. Some of the things you will be asked for will be; proof of your income, bank account information - including any checking or savings account statements, and all outstanding debts you may have.

Gathering the facts and figures of your monetary situation will allow the mortgage lender to determine the amount of house you can afford. This information will benefit you by allowing you to understand how much your monthly mortgage payments will be.

The most important reason you should become pre-approved for a home loan is that your offer will be taken more seriously and it will help your realtor move the paper process along faster.

Having a pre-approved letter from your mortgage lender, lets your realtor know that you mean business and that you want to be able to buy the home of your choice, within your price range, in the fastest amount of time possible.

 In today's real estate market, some homes can have bids placed on them in a matter of hours. When there is a pre-approved letter in hand by a potential buyer, that bid will be taken very seriously because the realtors for both the seller and the buyer know that there is a lender who is ready to get the paperwork rolling and get the sale completed.

As a professional realtor, I would advise you to find a professional mortgage lender and get your pre-approved letter before you start house hunting.
In the end, you will have saved time and can be living in your new home sooner than you think. 

You can find this article and more real estate information on my website at


Veronica Cabrera
Independent Real Estate Broker
Cell: (714) 809-6521
DRE  #01463140


Posted by at 40 comments:

What Is a Home Inspection?

What Is a Home Inspection?
by Veronica Cabrera




A home inspection is an examination of the condition of your home.
This inspection should be done by a reputable and licensed home inspector. This inspection is part of the necessary sales process of selling your home.

While the home inspector is there they will be taking notice of your; roof, basement, heating and air-conditioning systems, water heater, plumbing, electrical and the structure of the home. Additional inspections of your home may include but are not limited to; appliance hook-ups, pools, sprinkler systems as well as the condition of your garage.

A home inspection is very beneficial for the seller as well as the buyer.
The benefits for the seller are that they will have a better understanding of any repairs that may be necessary prior to selling the house. They will also have in writing anything that has been seen by the home inspector, just in case it is brought up later on in the sale.

The benefits for the buyer are that they will have a better understanding and knowledge of what was found during the home inspection, which my play a part in their offer on the home.

If there are repairs to be made the seller might fix them prior to the sale or deduct the amount from the sale price.

After the completion of the sale the seller will feel confident that their home was sold in good condition and the buyer will feel comfortable moving into the home.

Always consult with a professional and keep copies of all paperwork.

You can find this article and more real estate information on my website at

Veronica Cabrera, Realtor
Independent Real Estate Broker
(714) 809-652
R.E. Lic. #0143140
veronicacabrera.com
veronicacabrerarealtor@gmail.com
Orange County, Riverside County, San Bernardino County, CA

Posted by at 1 comment:

Get Your Finances In Order


Get Your Finances In Order



Having your finances in order can ease every aspect of your life.

One of the most important things many of us need to understand is where our money goes.  
We all work hard for our money and each one of us spends or saves our money differently. When we plan where our money goes it makes our lives a little easier. When we think we have more money than we do, we tend to get into trouble financially.

Knowing how much money you make is very important. If you are paid on commission then you are probably watching your expenses closer than most people.

Many of us have heard that we should budget our money and for good reason. The way we handle our finances has a direct effect on everything in our lives.

When we are young we are told to save our money. As we get older we realize why.
When we are young we want to spend our money on candy and toys. When we get older we have to pay our bills. When we are younger we don't understand why we should make our money last. When we are older we have to find ways to make our money last.

Start with understanding how much money you have to work with and make a plan.
Figure out what bills have to be paid regularly, what possible expenses might come up, and how much money should be put aside for any financial emergencies.

"Regular" bills would be those like rent or mortgage, utilities, food, transportation and insurance. "Possible" expenses would be things like clothing, school supplies, sports gear and registration fees for the kids, entertainment, oil changes or new tires for your car. "Emergencies" are more likely to be things like the water heater or home appliances dying, mechanical car repairs or unexpected health bills.

The best thing to do is get your monetary affairs in order. Pay your bills on time and make sure that you check your credit report once a year. Checking your credit report will give you the benefit of knowing that you are in good standing with your creditors, seeing that your credit information has not been stolen, and if there are any conflicts they can be resolved before you need to make a major purchase.

It is very important to have your finances in order especially when thinking of purchasing a house. Your financial records are a major part of how much money a mortgage lender is willing to allow for your home purchase. Having good credit will show a mortgage lender that you are responsible. Having money in your savings account will benefit with a down payment.

You can find this article and more real estate information on my website at


Veronica Cabrera
Independent Real Estate Broker
DRE #01463140






Posted by at 2 comments:
Subscribe to: Posts (Atom)