Thursday, November 14, 2013

What do you need to get Pre-Approved?

This is a list of documentation needed for a loan Pre-approval. I thought i would post a list of what you might need to be prepared. When you do meet with your lender, he or she will advise you.

Most Borrowers

§  Copies of W-2's for the last two years;
§  Copies of paycheck stubs for the last 30 days (current);
§  Copies of checking and saving account statements for last three months(full statement, Ex. 1-5)
§  Copies of quarterly or semi-annual statements for checking, savings, IRA's, CD's, money market fund, stock, 401k, profit sharing, etc.;
§  Copy of executed sales contract
§  Copy of drivers’ license for applicant and co-applicant.
§  Employment history for the last two years (address any gaps of employment);
§   Residency history over the last two years, with name, phone number, address and account number of Land or Mortgage Company. Rental property copies of leases plus mortgage information.
§  Canceled earnest money check when it clears or corresponding bank statement, if applicable;
§  Commissioned -- if 25% or more of base, must have tax returns;
§  Check for the expense of appraisal & credit report;
§  Refinance Copy of Note, Deed of Trust, Settlement Statement, Survey, and Insurance information;
§  Any assets used for down payment, closing cost, and cash reserves must be documented by a paper trail;
§  If paid off mortgage in the last 2 years, need copies of HUD1;

This applies for most borrowers, it varies on your financial situation. 

Sunday, November 3, 2013

Questions to Ask Your Home Inspector Before Buying a Home in the Imperial Valley

When you buy a home, you need to know exactly what you’re buying. Imagine how frustrated you’d be to find out that the hot water heater wasn’t working—in the middle of a shower! This is why you should have a home inspection before you buy your home.
A home inspection is an important part of buying your home. Before you hire a home inspector, ask candidates a few questions to make sure you hire a trustworthy inspector.

What does your inspection cover?

Not all inspections are the same. Ask for copies of previous home inspections so you can see exactly what they will check inside the home.
If you are concerned about something specific, like a leaky faucet in the bathroom, mention that to the inspector so they can check it out.

Are you licensed or certified?

If you live in a state that licenses home inspectors, ask to see their license. At the very least, choose a home inspector who belongs to American Society of Home Inspectors. This shows a level of professionalism and education that you can trust.

What kind of report will you give me?

You should expect a written report detailing what the inspector found. Most inspectors will give you a typed report within a week of the inspection. Make sure the inspector will be available to explain anything on the report that doesn’t make sense to you.

Will I be able to attend the inspection?

If the inspector refuses to let you be present during the home inspection, find someone else. This is your chance to know exactly what you are buying and what potential repairs you or the seller will have to make.

As your real estate agent, I will guide you through the home buying process. Let me help you find your new home.

Call me today at 760-234-8183or email me at

Home inspection -

American Society of Home Inspectors. -

Easy household repairs. -