|First Time Buyers|
Santa Clarita, Canyon Country, Valencia, Stevenson Ranch, Saugus, Newhall, Acton, Agua Dulce & LA County
Don´t Pay Another Cent in Rent To Your Landlord . . .
DO YOU LOVE YOUR LANDLORD?
Quit Paying Your Landlord's Mortgage! Every Time You Write A Rent Check, You're Putting A Torch to Your Money...There Is A Better Way!
Thinking About Buying Your First Home? Then you have come to the right place!
Why continue wasting money on rent for another second when you can enter the rewarding world of home ownership.
Ready to start looking but don't have the slightest clue where to start? Start Here! We can even generate homes based on monthly payments rather than sales price... because we know how confusing it can be trying to figure out mortgage payments on your own.
Let one of our experienced team of professionals´ show you the options that you may not know exist. There are first time buyer programs that may only require a small down payment or no down payment, even for those with low income. Get the information you need as a First Time Home Buyer. Find out what you need to qualify and receive a FREE consultation regarding your financial ability to purchase your first home.
Don't put off the idea of buying any longer. CALL US NOW!
Simply contact us at (661) 284-5024 or email us at Info@SoCalPowerHouse.com and within 24 hours one of professional team members will contact you at privacy of your time to discuss your options and you can receive an e-mail with a list of currently available homes meeting YOUR Search Criteria. Give it a shot. What have you got to lose?
Also, be sure to check out the links below for helpful information for first time home buyers.
It could be easier than you think!
Call our Professional team today for a
FREE - NO OBLIGATION Confidential
Review of what you need to qualify.
Call US Now Direct At: (661) 284-5024
To learn more on how buying a home might just be the smartest financial move you will ever make.
Here's what one of our most recent First Time Home
Buyers had to say...
"I am a first time home buyer and would like to take this opportunity to express my appreciation to Sean for the excellent job he did in representing me as a buyer.He made the entire process so pleasant and gave much of his time to educate me on buying a home and making me aware of my rights as a buyer. He went the "extra mile" whenever I had questions or had concerns and always a professional and prompt at returning my 'many´ phone calls and emails. He handled every part of the transaction with the utmost professionalism. I will unhesitatingly recommend Sean and look forward to working with him again in the future!
Mahmoud Heyrat (Canyon Country, CA)
Click Here For Home Buying Articles and Advice
Click here to start your FREE Home Search.
Back to Top
|Six Things You Must Know Before You Buy!|
6 Things You Must Know Before Obtaining a Mortgage Before you commit your hard earned dollars to monthly mortgage payments, consider these 6 issues. Effective consideration of these important areas can make your payments work much harder for you.
1. You can, and should, get pre-approved for a mortgage before you go looking for a home
Pre-approval is easy, and can give you complete peace-of-mind when shopping for your home. Your local lending institution can provide you with written pre-approval for you at no cost and no obligation, and be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written pre-approval is as good as money in the bank. It entails a completed credit application and a certificate, which guarantees you a mortgage to the specified level when you find the home you´re looking for.
2. Know what monthly dollar amount you feel comfortable committing to
When you discuss mortgage pre-approval with your lending institution, find out what level you qualify for and also pre-assess for yourself what monthly dollar amount you feel comfortable committing to. Your situation may give you a pre-approval amount that is higher (or lower) than the amount of money you would want to pay out each month. By working back and forth with your lending institution to determine what this monthly amount is, and what value of home this translates into at today´s rates, you won´t waste time looking at homes that are not in your price range.
3. You should be thinking about your long term goals and expected situation, to determine the type of mortgage that will best suit your needs
There are a number of questions you should be asking yourself before you commit to a certain type of mortgage; How long do you think you will own this home? What direction are interest rates going in and how quickly? Is your income expected to change (up or down) in the near term, impacting how much money you can afford to pay to your mortgage? The answers to these and other questions will help you determine the most appropriate mortgage you should be seeking.
4. Make sure you understand what prepayment privileges and payment frequency options are available to you
More frequent payments (for example weekly or biweekly) can literally shave years off your mortgage. By simply structuring your payments so that they come out more frequently, it will significantly lessen the amount of interest that you will be charged over the term.
For the same reason, authorized pre-payment of a certain percentage of your mortgage, or an increase in the amount you pay monthly, will have a major impact on the number of years you will have to pay and could shorten your payment term considerably.
These two payment options can cut years off your mortgage, and save you thousands of dollars in interest. However, not every mortgage has these pre-payment privileges built in, so make sure you ask the proper questions.
5. Ask if your mortgage is both portable and/or assumable
A portable mortgage, where available, is one that you can carry with you when you buy your next home and avoid paying any discharge penalties. This means that you will not have to go through the entire mortgage process again unless you are making a move up to a much more expensive home.
An assumable mortgage is one that the buyer for your home can take over when you move to your next home. This can be a very powerful tool at the negotiating table, making it much easier and more desirable for a buyer to buy your home, and again saves you any discharge penalties.
6. You should seriously consider dealing with a Mortgage Expert
Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make a significant difference in the cost and effectiveness of the mortgage you obtain. For example they can make the process faster thereby avoiding costly delays. Typically there is no cost or obligation to inquire.
Back to Top
|9 Buyer Traps and How to Avoid Them.|
This important report discusses the 9 most common and costly homebuyer traps, how to identify them and what you can do to avoid them:
1. Bidding Blind
What price should you offer when you bid on a home? Is the seller´s asking price too high, or does it represent a great deal. If you fail to research the market in order to understand what comparable homes are selling for, making your offer would be like bidding blind. Without this knowledge of market value, you could easily bid too much, or fail to make a competitive offer at all on an excellent value.
2. Buying the Wrong Home
What are you looking for in a home? A simple enough question, but the answer can be quite complex. More often than not, buyers have been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Maybe they´re stuck with a longer than desired commute to work or a dozen more fix-ups than they really want to deal with now that the excitement has died down. Take the time upfront to clearly define your wants and needs. Put it in writing and then use it as a yard stick with which to measure every home you look at.
3. Unclear Title
Make sure very early on in the negotiation that you will own your new home free and clear by having a title search completed. The last thing you want to discover when you´re in the back stretch of a transaction is that there are encumbrances on the property such as tax liens, undisclosed owners, easements, leases or the like.
4. Inaccurate Survey
As part of your offer to purchase, make sure you request an updated property survey which clearly marks your boundaries. If the survey is not current, you may find that there are structural changes that are not shown (e.g. additions to the house, a new swimming pool, a neighbor´s new fence which is extending a boundary line, etc.). Be very clear on these issues.
5. Undisclosed Fix-ups
Don´t expect every seller to own up to every physical detail that will need to be attended to. Both you and the seller are out to maximize your investment. Ensure that you conduct a thorough inspection of the home early in the process. Consider hiring an independent inspector to objectively view the home inside and out, and make the final contract contingent upon this inspector´s report. This inspector should be able to give you a report of any item that needs to be fixed with associated, approximate cost.
6. Not Getting Mortgage Pre-approval
Pre-approval is fast, easy and free. When you have a pre-approved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.
7. Contract Misses
If a seller fails to comply with the letter of the contract by neglecting to attend to some repair issues, or changing the spirit of the agreement in some way, this could delay the final closing and settlement. Agree ahead of time on a dollar amount for an escrow fund to cover items that the seller fails to follow through on. Prepare a list of agreed issues, walk through them, and check them off one by one.
8. Hidden Costs
Make sure you identify and uncover all costs - large and small - far enough ahead of time. When a transaction closes, you will sometimes find fees for this or that sneaking through after the "sub"-total fees such as loan disbursement charges, underwriting fees etc. Understand these in advance by having your lender project total charges for you in writing.
9. Rushing the ClosingTake your time during this critical part of the process, and insist on seeing all paperwork the day before you sign. Make sure this documentation perfectly reflects your understanding of the transaction, and that nothing has been added or subtracted. Is the interest rate right? Is everything covered? If you rush this process on the day of closing, you may run into a last minute snag that you can´t fix without compromising the terms of the deal, the financing, or even the sale itself.
Back to Top
|Stop Paying Rent|
Stop Paying Rent Forever and Own
A Home of Your Own!
Don´t Feel Trapped Anymore!
It doesn´t matter how long you´ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can:
- Save for a down payment
- Stop lining your landlord´s pockets, and
- Stop wasting thousands of dollars on rent.
6 Little Known Facts That Can Help You Buy Your First Home
The problem that most renters face isn´t your ability to meet a monthly payment. Goodness knows that you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent.
But saving for this lump sum doesn´t have to be as difficult as you might think. Consider the following 6 important points:
1. You can buy a home with much less down than you think
There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered. Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.
2. You may be able to get your lender to help you with your down payment and closing costs
Even if you do not have enough cash for a down payment, if you are debt free, and own an asset free and clear (such as a car for example), your lending institution may be able to lend you the down payment for your home by securing it against this asset.
3. You may be able to find a seller to help you buy and finance your home
Some sellers may be willing to hold a second mortgage for you as a seller take-back. In this case, the seller becomes your lending institution. Instead of paying this seller a lump sum full amount for his or her home, you would pay monthly mortgage installments.
4. You may be able to create a cash down payment without actually going into debt
By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down payment. While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.
5. You can buy a home even if you have problems with your credit rating
If you can come up with more than the minimum down payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage. Alternatively, a seller take-back mortgage could also help you in this situation.
6. You can, and should, get pre-approved for a home loan before you go looking for a home
Pre-approval is easy, and can give you complete peace-of-mind when shopping for your home. Mortgage experts can obtain written pre-approval for you at no cost and no obligation, and it can all be done quite easily over-the-phone. More than just a verbal approval from your lending institution, a written pre-approval is as good as money in the bank. It entails a completed credit application, and a certificate which guarantees you a mortgage to the specified level when you find the home you´re looking for. Consider dealing only with a professional who specializes in mortgages. Enlisting their services can make the difference between obtaining a mortgage, and being stuck in the renter´s rut forever. Typically there is no cost or obligation to enquire. There are many important issues you should be aware of that affect you as a renter. Why on earth would you continue to lose thousands by throwing it away on rent when with your agent you could take a few minutes to discuss your specific needs so that you can stop renting and start owning.
Back to Top
|First 3.5% Down|
Buy a Home with 3.5% Down Payment
"Now you can realize the dream of owning your own home with 3.5% down payments."
FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
- Low down payments
- Low closing costs
- Easy credit qualifying
What does FHA have for you?
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.
Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.
Financial help for seniors Want to make your home more energy efficient?
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
1. An average credit history
· no recent history of bad debts
· consistent and timely payment of current liabilities
2. Limited liabilities
You will be required to disclose all current liabilities you have in order to determine how much more debt you can carry. (ie. present car loan, credit cards, etc.)
3. At least 2 years of employment stability
You will be required to show proof of employment for the past 2 years, ie. a letter of employment from your employer or financial statements for the past 2 years if self-employed.
4. The financial ability to carry larger monthly payments
With Minimum down payment you will be required to meet the obligation of larger mortgage payments. Your monthly payments could vary from a few to several hundred dollars more per month.
Under the Terms of the Program You Can Purchase Many Types of Properties
· detached or semi-detached homes
· free-hold town homes · condominium town homes · Duplex · Tri-Plex · Four-Plex
It is important to note that not all properties qualify for FHA Program. To ensure that you get an accurate picture of what properties may or may not be included in this program in your particular area, it is advisable to review the terms of the program with your Realtor®.
Benefits of the Zero Cash Down Payment Program
1. 3.5% Down payment
If you are renting, why pay your landlord's mortgage? Why not reap the benefit of building your own equity? Are you renting because you are held back from owning your own home because you think you need a substantial down payment? The general perception of many would-be-homebuyers and even that of some Realtors® is that a substantial down payment is required in order to purchase a home. This is simply not true. Because of this perception many would-be-homebuyers feel they have to save for years before they have enough money for a down payment so that they can finally enter the housing market. In the meantime they are lining someone else's pockets, while waiting a long time before they can start building their own equity. Well, with 3.5% Down Payment Program you don't need a huge down payment to buy a home.
2. Buy a Home Now!
If needing a down payment is keeping you from owning your own home, this new program offers you an immediate way to get into the housing market. With 3.5% Down Payment Program you don't have to wait to purchase a home.
3. Approved Bank ProgramIt is important to know that 3.5% Down Payment Program is an approved bank program. Review this program with your lender or Realtor® who has specialized knowledge in financing and can assist you with the 3.5% Down Payment Program.
Back to Top
|Home Finder Service|
With our free, no obligation home finder service you will have first access to homes as they come on the market. Our computers can send you the information quickly and easily without you having to deal with a high-pressure sales agent. With this service you will receive an automated e-mail when new homes become available in your area. If you see a home that you would like more information on or would like to set up a showing on you can contact us and we will assist you.
If you are interested in this service please click here:
Back to Top
|Power House Realtors|
RE/MAX of Santa Clarita
25101 The Old Rd.
Santa Clarita, CA 91387
(661) 284-5024 Direct
(661) 284-5025 Fax
(310) 880-3888 Cell
Equal Housing Opportunity. Equal Opportunity Employer.
|When submitting any form on this site with your contact information including, but not limited to, name, telephone number, address or e-mail address, you are giving explicit consent for Sean Daryani & Team and their authorized representatives to contact you even if your name is on the Federal, State or Company "Do Not Call List"|