Financing Guide

Get the Advantage - Purchasing San Francisco Real Estate

In today's competitive real estate market many buyers choose to start out by being pre-approve for financing.  Pre-approval means that the lender has reviewed your complete loan application and has committed to make the loan on a property that fits the terms you applied for.  Pre-approved buyers have an advantage and are more likely to have their offers accepted not to mention that it takes a considerable amount of stress out of buying real estate.

How to start

First, get in touch with a mortgage professional who can answer your questions and guide you through the loan process.  There are many choices available in mortgages available today and it's worth the time to explore the possibilities before choosing the one that will best fit your needs for San Francisco real estate.  In fact, the standard 30 year fixed rate mortgage has taken a back seat lately to "interim fixed" loans.  These loans offer lower starting rates and are fixed for the first 3-10 years before adjusting.  Perfect for the majority of Bay Area buyers!

Next, get your loan documents together and work with your loan agent to submit an application for a pre-approved loan.  The standard documentation for a mortgage application depends on employment status.

For salaried employees and/or salaried + commission or bonus:
The last two years tax returns and W-2's with a current pay stub. Current statements for all bank, brokerage and retirement accounts (401K, IRA's, etc.)

For self-employed individuals:
The last two years tax returns and a year-to-date income and expense statement. Current statements for all bank, brokerage and retirement accounts.

There are also many alternative lending programs available for borrowers with special circumstances, such as "no-income" loans.  Know your course before you set your sails!  Contact your mortgage professional or ask your InvestSF San Francisco Real Estate realtor for a referral today.

 

Mortgage Calculator

This calculator is not meant to be an offer to lend money.
It is to be used to give you an idea as to how much your monthly payment will be.

Mortgage and Expense Information

Term (Yrs.):
Interest Rate:
Loan Amount:
Ann. Taxes:
Ann. Insurance:

Resulting Monthly Payments

Principal and Interest 
Taxes
Insurance
Total Payment

 



This is not an offer to sell, but is intended for information only.
The developer reserves the right to make modifications in
materials, specifications, plans, designs, scheduling
and delivery of the homes without prior notice.