If you’re ready to become a first-time homebuyer in San Diego, you’ll want to consider these tips to help you in your search for homeownership. By following these tips, you’ll be better prepared to navigate through everything from financing, to home hunting, to finally buying your dream home for the first time!

Tip #1: Get a pre-approval letter

I can’t tell you how many buyers start looking for homes early. Having a pre-approval letter in hand does two things: it sets your purchase limit and increases the validity of your offer. This advice is very important to increase your purchasing power. An offer without prior approval is considered less attractive and is often discarded altogether. You can get pre-approved online at e-approval.com.

Tip #2: Find a good real estate agent you can trust

Finding a good San Diego real estate agent is the most important factor in making the buying process smooth and comfortable. If you have a bad feeling about your agent, walk away. And NEVER sign a contract to use an agent exclusively; You may be tied to an agent who may offer you less service if they know you are obligated to them. There are too many agents who put their commissions before the best interests of their buyers these days and buyers are left with the bill for a property that wasn’t a perfect fit or less affordable than they deserved. If you’re ever unsure who to use, I have a list of trusted real estate agents I’ve worked with in the past that I personally know and trust, just ask.

Tip #3: Apply for a first-time homebuyer grant

How about a return of $15,000 for closing costs? Many people are unaware of the grant programs on offer right now, but the San Diego Housing Commission is offering up to $15,000 to eligible first-time homebuyers in San Diego. The grant never has to be repaid if the buyer occupies the property for six years. To apply for the $15,000 First Time Home Buyer Grants, visit San Diego Housing Grants at www.sdhg.org or call (619) 663-SDHG.

Tip #4: Know your financial options

did you know There are FHA programs that will also cover rehabilitation work on a deteriorating foreclosure, saving you thousands of dollars. This loan program is called the FHA 203K and it is currently saving a LOT of people a LOT of money when buying a property that needs work. 203K loans will cover everything from new roofs, new flooring, paint, stucco, and just about anything else you can think of! And if you’re a veteran, you can get a VA Loan with 0% down so you can use your saved money in other ways, like new furniture!

More information about the FHA 203K program can be found by calling Mortgage Services of America (888) 619-4858 ext.12.

Tip #5: Find your home!

Internet is everywhere. Use it! There are a number of websites that allow you to access live MLS listings for San Diego Real Estate so you can do your research from the comfort of your own La-z-boy recliner. Some great sites to start looking for a house are San-Diego-Houses.com, SDLookup.com, and Redfin.com.

With the combination of these tips and a little legwork, you should be ready to embark on your homeownership journey! If you are looking for a good agent in San Diego let me know. I’ll be sure to put you in touch with a local hero. Also, if you ever have any questions about financing options for the purchase of his home, please feel free to call me at (858) 848-LOAN.

Good luck and happy house hunting!

Constantine K.

San Diego Home Loan Expert

(858) 848-LOAN