Let Us Help You Buy Your New Home!
Purchasing a home is a very exciting time, and being well
prepared will help you make better decisions. Take this
opportunity to learn more about home buying and the mortgage
process. Below and throughout this site you will find
information that will help you with the purchase of your new home.
Am I ready to buy?
Buying a home offers many advantages, one of the most
significant being that it allows you to build equity (ownership)
when you pay your mortgage each month. A common myth is that
monthly mortgage payments are more expensive than rent. But,
in many cases, mortgage payments can be even less than rent.
When considering home ownership for the first time, you need
to decide whether buying makes financial and practical sense
for you right now or if you are better off renting. Consider
both the advantages and disadvantages to renting as well as
buying, and weigh the pros and cons for your situation.
How much house can I afford?
The first step toward finding the right home is to
quickly compute your purchasing power and determine how
much you can afford to pay each month. This saves you
time by allowing you to focus on homes in your price range.
In addition, in the planning stage, you should consider both the up-front and ongoing costs associated with purchasing a home.
Some up-front costs include:
Down payment: Typically ranges from 3-30% of
the cost of the house. The more you can put down, the
greater equity you will have in your home and the lower
your monthly payment will be. For down payments less than
20% you may also need to pay mortgage insurance.
Closing Costs: Typically range from 2-6% of the loan amount depending on your area.
On-going Costs: Your housing costs can include the following:
Monthly mortgage payment
If applicable - Flood Insurance
If applicable - Property taxes
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My Happy Clients
"My boyfriend and I recently purchased our first home. Naeem and Elizabeth were a godsend. They were there every step of the way, ready to answer any questions day or night. Their responsiveness and professionalism are unparalleled. "
"Naeem and Elizabeth assisted my husband and I with the purchase of our first home. During this time my husbands father became very sick. Naeem and Elizabeth both were not only financial advisors, but they were great friends along this journey. They educated us every step of the way. They listened to our needs and put a game plan together that best fits our needs. They are very knowledgeable and professional in their field. We HIGHLY recommend both Naeem and Elizabeth and of course the cal coast financial team. Thank you for everything!"
"I had been in the US for just a year, with just over a year of credit history and work history. I still wanted a jumbo loan with less than 20% down. Nearly all the other lenders rejected my case outright. But Naeem and George of Calcoast were open and responsive. They took my case seriously, negotiated with multiple lenders, got the necessary exceptions approved and gave me a good deal on my first and second mortgage for a new purchase. I was already working with another lender and these guys were the backup. Even after making this clear to George, he was still as diligent as ever and went through the entire process till the very end. He answered my call at all times, gave me the correct advice and kept me well informed on all options as well as helped me mitigate different risks, even though he knew that I was working with another lender. I would definitely recommend him for anything related to home finance! Thanks George and Naeem for all your help! "