Don’t just buy any home.
Buy A Real Estate Online Certified Used Home!
At Real Estate Online we believe that homeownership shouldn’t be a chore or a headache. That’s why when using our preferred inspectors, we offer an “ultimate 1 year home warranty” with your purchase and will even cover any service call costs when something breaks. To make that certified home even better we also send our buyers away on a short cruise or a weekend stay at an amazing resort*.
So call us now at 858-736-9535 to set up a consultation and sign up for the certified home buyer program!
Whether it is your first home or your tenth home, a retirement home, or an investment property, Real Estate Online will make your home-buying experience fun, exciting and stress-free. We can help you find the ideal home with the least hassle; as our team is devoted to helping each person achieve these results quickly and effectively!
Have a look at our buyer resources here.
Purchasing a home is a very important decision and a big undertaking in your life. Most people only choose a few homes in their lifetime. Real Estate Online will make sure that you are well equipped and armed with up-to-date information for your big decision.
Not sure what community fits you best? Click here to get an in-depth look at our communities within San Diego and learn the history of each.
So let’s take an exciting journey together! Real Estate Online looks forward to meeting your real estate needs every step of the way!
Let’s take a quick look at the process
All buyers apply for a loan and obtain approval before they find the home they want to buy. Why?
Pre-approval will help in the following ways:
- Interest rates are locked in for a set period. You will know in advance exactly what your payments will be on offers you make.
- You won’t waste time considering homes you cannot afford.
- A seller may make concessions if they know that your financing is secured. Approvals are like a cash buyer, and this will make an offer more competitive.
- You can select the best loan package without being under pressure.
GETTING LOAN APPROVAL
There are three key factors to consider:
- The down payment
- Your ability to qualify for a mortgage
- The closing costs associated with your transaction.
DOWN PAYMENT REQUIREMENTS:
Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan. If you can come up with a 20-25% down payment, you may be eligible to take advantage of special fast-track programs and the possibility of eliminating mortgage insurance (PMI).
CLOSING COSTS:
You will be required to pay fees for loan processing and other closing costs. These fees must be paid in full at the final settlement unless you can include them in your financing. Typically, total closing costs will range between 2-5% of your mortgage loan.
QUALIFYING FOR THE MORTGAGE:
Most lenders require that your monthly payment range between 25-28% of your gross monthly income. Your mortgage payment to the lender includes the following items:
- The principal on the loan (P)
- The interest on the loan (I)
- Property taxes (T),
- The homeowner’s insurance (I).
- Property assessments (A)
Your total monthly PITIA and all debts (from installments to revolving charge accounts) should range between 33-38% of your gross monthly income. These other key factors determine your ability to secure a home loan: Credit Report, Assets, Income, and Property Value.
Need help finding a local reputable lender?
Call us today, we are here to help, 858-736-9535 to set that appointment today!!
