Your Mortgage Map to a Laguna Beach Home

Forget the rumors. You can get the money for a Laguna Beach home for sale. But before you go loan hunting, know the route banks have laid out for you. That way, you’ll be ready for anything and everything. This mortgage map to a Laguna Beach home lays out the major steps of your journey. Get acquainted with this guide, and you’ll have a much smoother time locking up your loan for the perfect Laguna Beach property.

Your Mortgage Map

1. Application – Here’s where you waltz into the bank and divulge tons of relevant personal info to the loan lord who’ll determine the fate of your funding. You’ll also be supplying said loan lord with mountains of pertinent paperwork such as 30 days of pay stubs, two years of W2’s and tax returns, and accounting statements. So start getting the info in order. But don’t stress. The Coastal Property Experts will guide you smoothly through this and every phase of the loan journey. You will, however, owe us lunch!
2. Pre Approval – Maybe you’re eying a sprawling Newport Beach estate, but you qualify for a cottage. Well, size isn’t everything. It’s better to know what you qualify for before you squander precious search hours on unrealistic goals. All squandering should be restricted to long soaks in a hot tub or beachside loafing.
3. Appraisal – You’ve found your home, and you love the price! But will the bank? A professional appraisal reveals the home’s true value. If you’re overpaying, you’ll definitely hear about it. DON’T BE SURPRISED IF THEY ASK FOR A SECOND APPRAISAL. AND THEY WILL RECONFIRM THAT YOU’RE STILL WORKING FOR THE SAME COMPANY.
4. Title Search – Are liens lurking in the background? Lenders will hunt them out and generously assign you the responsibility of clearing up these outstanding debts. Until they’re gone, your loan is in limbo.
5. Review – It’s extended reading time for the underwriter, who now must digest a smorgasbord of loan information and hand down the judgment from on high -- thumbs up or thumbs down.
6. Modifications – The loan lords have smiled upon your loan. You’re in! But wait -- they’re hankering for a few perks? Maybe. Banks have a deep-seated need to feel protected. So they could ask for extras such as mortgage insurance (for down payments below 20%) or a larger down to pump up the debt/income ratio. Be prepared.
7. Insurance – Banks are sticklers when it comes to protecting their investments. This means, you’ll be purchasing fire and hazard insurance for your Laguna Beach home. You’ll also be carrying earthquake or flood protection if you live in vulnerable geo-zones.
8. Signing – This is the easy part. Just lift your pen and sign this, this, this, this, and (whew!) this, and the money is in your eager hands... almost.
9. The Big Wrap-Up – The lender wires, mails, or pony expresses the funding to the closing company. After which, the County Recorder makes if official by recording all documents transferring title. NOW the money is YOURS!

So now that you’re a wizard of loan acquisition, there’s only one thing left to do – go out there and get it! And with The Coastal Property Experts, you’ll by flying all the way.

Let our rapid-response team guide you to a financing package perfect for the Laguna Beach home of your dreams. Contact The Coastal Property Experts today for your complimentary consultation. (949) 922-8490

The Coastal Property Experts

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