First Time Home Buyer Update

First Time Home Buyer:

First time home buyers are welcomed at JB Mortgage Capital, Inc. We recently updated our first time home buyer page and wanted to share some highlights with those that might be interested in purchasing a home for the first time. If you have any questions or want to get pre-qualified please be sure to visit our website or call us directly at 1-800-550-5538.

Finding A Great Team:

You're a first time home buyer and don't know what to do? The best thing you can do to get started off on the right foot is surround yourself with a great team: an experienced Realtor who works with first time home buyer's regularly and a Loan Officer who has a great reputation for working with first time home buyers.

Getting Pre-Qualified:

Gather your income and liquid asset documentation. If you're a W-2 employee you'll need your most recent two W2s and your most recent two paystubs. If you're self-employed you'll need your two most recent tax returns (federal, all pages). As far as liquid assets; you'll need your two most recent statements (all pages) for the account in which your downpayment and closings costs are coming form.

The Application:

The next step is to do the application; with us you can either complete the application online, fill out a hard copy or complete the application by phone. We highly suggest you complete the application by phone - it goes much faster.

The Loan Process:

Once you are pre-qualified you're ready to make an offer on a house. If it takes more than 2-4 weeks to obtain an accepted offer be prepared to send in updated paystubs and asset documentation. Be prepared to do an inspection and an appraisal. Most mortgage companies can close in thirty days or less.

Mortgage Pro-Tip:

When it comes to locking in a rate and terms every lender is different. Make sure you ask during the initial application what are the lock policies for the mortgage company. Some mortgage companies require you lock immediately, some are flexible and others won't lock until your ready to close. Never assume it's locked; and always get the lock confirmation in writing.

For additional information feel free to visit our website: low california mortgage rates.