Orange County homes for sale with new home financing by lender offering mortgage loans on prime credit to bad credit for new home purchases or refinancing existing loans at low interest rates

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American Capital Lending

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Many formulas and guidelines exist for buying a home in Orange County and Southern California. With home values climbing rapidly since 2001, opportunities for leveraging your real estate dollar are substantial throughout the Southland and along the coastal areas of Orange County, CA. Nonetheless, certain tried and true "rules of the road" always apply for the new home buyer.

Know what you need. Your employment situation as well as the size and makeup of your household are prime considerations for establishing square footage, floor plan and location of your new home purchase. Additionally, you'll want to consider garage and yard needs, schools and shopping as well as distance to work.

Know the maximum mortgage you can afford. While this seems obvious - think like a lender. Do your research and ask your agent for help in determining how much home you can buy. Unless you have substantial down payment "buy down" power for the mortgage, you'll want to budget your mortgage payment in with your other financial needs to insure a comfortable lifestyle. It is a good idea to discuss your financial situation in depth with your real estate agent. Your agent understands the cost of living in Orange County and throughout Southern California in general.

Get your mortgage approved in advance. Most home loan lending institutions will approve a loan for new home buyers without requiring an accepted offer. Contingencies that typically apply are only that the final offer must provide an LTV ratio that protects the bank relative to your credit profile.

Explore neighborhoods that fit your living requirements. Orange County offers a lot of home buying opportunities in the coastal areas. In a beach city like Newport Beach or Huntington Beach, there is little chance that you will make a "bad buy." Home values have increased continuously since they were incorporated in the early 1900s. Work with your Real Estate agent to select those areas that are most suited your needs.

Find homes that are priced right for your budget and meet your needs. Talk with your real estate agent about walkthroughs for Southern California homes that most closely match your requirements. Create a checklist of items you want to verify are functional and not in need of any major repairs. For instance:

Outside: Is this an Orange County neighborhood where you will have to endure a lot of public parking in front of your home?; Are there a significant number of campers and RVs parked along the curb and in "out front" driveways?; Landscape and landscape plumbing; Is there a capped oil well on or near the property?; Verify that all faucets are functional and do not leak; Are there fences and what condition are they in; What is the condition of the driveway; Functionality of outside lighting; Inspect every electrical outlets and verify that they work; Exterior paint and finish; Take a look at the roof - it's type, style, and obvious deterioration such as missing and broken shingles; Exterior window frames, rubber insulation and screens; Sliding exterior glass and screen doors; Check under eaves and along the base of the house for water damage and cracks; Visually inspect cable TV connections for deterioration - ditto for broadcast reception antennas; Look for significant cracks and staining on the driveway; How easy do garage doors open; If the washer and dryer are in the garage, inspect electrical and water hookups (later, you may ask for a cycle); If water heater is in the garage, inspect for obvious leakage and try to determine age
Inside: Check walls and ceiling for leak stains, bubbled paint, mold and other obvious deterioration; Check bare floors for cracks and "separation" at the wall junctures - and any wood rot - all rooms; Check carpeting for mildew and deterioration. Look in the corners and edges of the room. Take a sniff!!; Visually inspect every electrical outlet to make sure it works; Open and close all doors to make sure they "latch" easily and, where possible, verify that the locks work. Listen for squeaks.; Kitchen - confirm functionality and approximate age of all appliances that will remain. Ask about the behavior of the oven (ie. "it always heats about 25 degrees lower than the thermostat", etc.); Check the kitchen sink and garbage disposal. Later, if you are serious, make sure it grinds effectively.; Bathrooms - go right for the toilets. Do they flush cleanly? Do they stop running? Exterior leaks? Vintage?; Is there mold and stains in the tile grout?; How is the bathroom shower? When the shower is on, if a tub/shower - does the lower faucet flow?; Does the tub drain poorly? How badly?; Stairs and stairwells. Check for creaking and loose railings.; How well will your furniture fit in this new home?

Once you've made a buying decision, consult with your agent to create an offer. Let your agent negotiate with the seller or selling agent.

If your offer is accepted, finalize the financing. Like the prequalification - this can take some time and have cumbersome and irritating delays. Make sure you did your homework earlier.

Make certain your new home is properly insured before title passes to you.

If your plans include professional interior design services and the Designer wasn't previously involved in selecting the new home, now is the time to engage them.

Make your moving arrangements.

Check that the prior owners have been removed from the utility billing and a new account is opened in your name.

Don't forget to research your new local school district on enrollment requirements and deadlines if you have children.

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American Capital Lending is a personal service mortgage home loan broker that works with homeowners and lenders originating mortgage loans, cash out mortgage refinancing, and debt consolidation loans along the south coast area of Orange County California. Predominantly serving the beach city area of South OC, this Orange County mortgage broker concentrates on high value homes in Huntington Beach, Huntington Harbour, Seal Beach, Newport Beach and Newport coast, Corona del Mar (CDM), Emerald Bay, Laguna Beach, Pelican Hill, Dana Point, Cota de Caza, Capistrano, Coda de Caza, San Clemente, San Juan Capistrano and further inland within the Laguna Niguel, Mission Viejo, Irvine, Lake Forest and Anaheim Hills areas.