interested in buying?
Owning a home is laying the foundation for your financial future while also setting the tone of your personal lifestyle.
Regardless if you are buying your first home or your 3rd home (did you know the average person moves every 8 years), a single-family home, or a multi-unit it’s not a process you do on a regular basis like ordering your favorite cup of coffee. (You can probably do that while tying your shoes.) But can you name who you used as your real estate attorney, home inspector, lender, or even realtor? Probably not, but that’s ok. To be honest I don’t recall who my original lender or home inspector were either.
All of these people play an integral part of YOUR team, but the only one you will interact with the most is your knowledgeable, amazing, reliable (some even say handsome) realtor . . . me, Mark Javier!
On a serious note, your realtor and home inspector are the only two people you will meet making the largest purchase of your life. So with me as your trusted advisor, I will guide you effortlessly through the entire transaction from beginning to end, and because of my extensive experience and knowledge, I can recommend to you the best lenders, attorneys, and home inspectors that will have your best interest.
I have experience developing a property and doing fix and flips. So when we walk into a house I look past the bling and point out the bumps, bruises, and warts. I look for water stains, uneven floors, the roof condition, etc., etc. I also look for the upgrades that were done that bring value and longevity to the property. So when it comes time to make that offer we take all those things into consideration to ensure you are secure living in that home, and most importantly . . . get you the best price possible.
Every seller is hoping for more money, and every buyer is hoping for a bargain. My job as your realtor/trusted advisor is to embrace your vision in order to move you into your dream home.
Don’t let your dream home slip through your fingers. There is no better time than now to turn your dream into reality.
Frequently asked questions
Now that you know the current mortgage rate scroll down to the mortgage calculator.
Establishing your trusted team to get you to the finish line. First on that list is your realtor . . . me, Mark Javier. I will be guiding you through the entire process from beginning to end. So find someone you enjoy working closely with because there will be nights where we will have late phone calls and your significant other might be wondering why you are talking to me so late at night. Second is a mortgage broker. Ask your realtor who they recommend based on your goals. Third, is a real estate attorney. Again I can refer you to someone who has experience in the deal you are making.
You mean to tell me you have not been scrolling online for your future home? As soon as you have a pre approval from your lender you can determine your actual budget. Your lender can also advise you on how to increase your limit based on your debt to income, credit score, etc. They will also tell you how to handle gifts from family, and not to make any ill advised big purchases before you close on your property. Your lender can check your credit the day of closing to make sure you didn’t buy that fancy two seater car or boat. (But a glowing review for your favorite realtor will not affect your credit. In fact it might improve your street cred.)
You can buy a single family home or a multi unit building up to 4 units with as little as 3.5 to 5% down. If you have a VA loan you can purchase a home with 0% down payment.
In a real estate transaction the buyer’s agent is paid by the seller’s side. You only have to shower me with praise and referrals.
- Earnest money (link to definition page) can be 1-5% of the sale price, but it goes towards your down payment
- Home Inspection minimum $500 depending on the size of the property/units. I always recommend my clients do this even if they are buying the home in as is condition.
- Appraisal approximately $600 This determines if the property you are buying is worth financing by your lender.
- Homeowners insurance also depends on the type of property
Mortgage insurance (is your lenders way of protecting their bottom line) when they borrow money to someone when they put down less than 20% down payment.
The insurance requirement is a key difference between FHA and conventional loans.
With a conventional loan, private mortgage insurance may be canceled after you have gained sufficient equity (usually 20%). It’s canceled automatically after your equity reaches 78% of the purchase price. You can reach this equity amount either by making the regularly monthly payments and/or appreciation of your property. There is NO need to refinance your mortgage and restart the clock.
With a FHA mortgage you have 2 insurance costs:
- An up front 1.75% insurance premium on the value of your home and
- A monthly mortgage insurance which range from 0.45 percent to 1.05 percent (depending on the loan duration).
The monthly insurance can’t be canceled if you make a down payment of less than 10% But you can get eliminate the FHA mortgage insurance payments by refinancing the mortgage into a non-FHA loan.
The other way to eliminate FHA mortgage insurance is to put down 10% or more down payment. When you do this you pay mortgage insurance premiums for 11 years rather than the life of the loan WITHOUT having to refinance.
Mortgage Calculator
- Principal & Interest
- Property Tax
- Home Insurance
- PMI
