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First Time Home Buyers - 3 Things You Need to Know

Posted by Summit Lending on April 17, 2018
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The real estate market in Southern California is competitive, particularly as summer draws near, which is why there are specific things you need to know if you're a first-time home buyer.

Here's a look at what to expect, and what you need to know before you go searching for your first home in Orange County, LA County, San Bernardino County or Riverside County.
  1. There Are Great Financing Programs for First Time Homebuyers in SoCal
    At Orange County based Summit Lending, our team of top-rated mortgage professionals have been working with first time homebuyers for decades. That's why we are familiar with all the best options for real estate financing, designed with the first-time home buyer in mind. FHA Loans, Fannie Mae Loans, and Freddie Mac Loans all make it a point to help first time homebuyers get into a home, through offering low down payment options. Likewise, for any Active Duty, Reservists, or Honorably Discharged Veterans and spouses, VA Loans offer wonderful incentives and benefits for first time home buyers in SoCal.


  2. Prepare for a Lot of Documentation
    Since this is your first time buying a home, you should know that you'll have to provide a lot of documentation when applying for a mortgage loan. It's a good idea to start organizing some of this documentation early. To start, compile tax returns, pay stubs, proof of liquid capital, proof of any other sources of income. Ultimately, there may need to be other forms provided, but organizing these basics ahead of time, will make the loan application process easier.


  3. Find a Local, Experienced Mortgage Broker You Feel Comfortable With
    When seeking to find a professional who will be helping you with what is most likely your largest purchase to date, take the time to find someone you feel comfortable with. Look for mortgage brokers who know the region where you'd like to buy. Seek out brokers who are invested in the community, and have established themselves as community leaders, as well as reputable mortgage professionals. Find mortgage professionals who will take all the time you need to answer your questions, and those who are responsive to your calls, texts, or emails. The mortgage professional you choose to work with will be able to guide you through the process, help you to understand all options, help you to set a reasonable budget for buying your first home, and so much more.
Summit Lending's president and founder, top rated mortgage broker and lender Lisa Alley is a native of SoCal, and a familiar voice in Southern California. In fact, you may have heard from Lisa on KFI-640 AM talk radio, where she is known as "the mortgage lady from the radio." But Lisa is not just a radio guest. A mortgage professional for more than 20 years, she is very hands-on at Summit Lending, ensuring every first-time home buyer understands the mortgage process, understands the down payment requirements, and selects a loan which fits with their budget.

If you're a first-time homebuyer in SoCal, contact Summit Lending today. As top a Yelp! reviewed Orange County, CA mortgage broker, we provide low interest rate mortgage loans, including refinance loans, VA loans, first time homebuyer loans, FHA mortgage loans, conventional mortgage loans, reverse mortgages and more to Southern Californians. Our top-rated Huntington Beach based team has all the loan products available to meet your home financing needs, whether you're a first-time homebuyer or you've bought and sold multiple homes.

Call today for great service and rates with your next home loan: 888-451-9006