When you are buying a home in Orange County, Ca there are a few steps to take to assure yourself an easy closing. Assuming you have already done all of your due diligence (appraisal, home inspection, termite inspection, etc) and you are confident you know everything about the home to make an informed decision, now its time to actually purchase your home. Before you close you should already know what type of loan your are obtaining (fixed or adjustable) and what the cost and rate will be for the loan. All of this information would be located on your "Good Faith Estimate" that you received from your loan officer in the beginning of the process. The numbers for title, escrow and taxes are estimates at the beginning of the process but they should be relatively close when you are finished. The numbers for your loan however should be the same or better! Once you have done your final walkthrough its time to go sign all the documents. Be prepared to sign quite a few documents, but there are a few pages that sum up most of the transaction. The first is the settlement statement or (HUD1). This page shows where every dollar is going in the transaction. This is important as you can verify how much the cost of your loan was as well as see all the money that will be paid out for taxes, insurance and HOA if applicable. The next document to look for is the Note or Mortgage. This will say exactly what kind of loan you will be obtaining and what the rate, terms, and payment of the loan are. Lastly you want to look for the Deed of Trust. This is the document showing that you are the new owner of the home! After signing you will wire your funds to escrow (the amount necessary is shown on the settlement statement). Wait a few days for funding and recording and you are done!
David did a great job helping us buy our first house. We really appreciated that he has a laid-back, no-pressure attitude in helping us look at places. He was always on top of appointments and was organized and knowledgeable about the area. When we were ready to buy, he helped make us competitive in our bid and we were able to buy the first house we made an offer on! We would absolutely recommend him to anyone. Jennifer O