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Purchasing a Home

Some of today's purchase programs allow first-time home buyers as little as 1% down. A low down payment makes owning a home a very real possibility for many people that believe home ownership wasn't possible for them. Don't let a misconception stop you from being part of the American dream. Low interest rates and new programs have reduced the barriers of entry. Lower costs and special incentives give opportunities to millions of Americans.
Ask Yourself:

Evaluate Your Financial Situation

Buying a house is a big commitment, so before you start house hunting and comparing mortgage rates, take the time to examine your current situation and how it could change in the future.

Ask yourself the following questions:

Are you planning on any major life changes?

Changing jobs or starting a family, in the next few years that could impact your financial situation. This is the time to think ahead so you purchase the right home to fit your lifestyle, both present and future.

Can you commit to staying in a home for at least five years?

Buying a house involves transactions costs like escrow and title fees, an appraisal, and other miscellaneous fees. When you sell a house, there are additional fees that also include paying an agent, in many cases. Holding a home for a longer period of time helps spread these costs out over the years and gives time for the house to appreciate and offset those costs.

Do you have a stable income?

Mortgages are due every month and it's important to ensure your income is stable so you don't run into problems. Missing house payments can quickly lead to a damaged credit profile, and in the worst case, a foreclosure.

Can you handle the responsibilities?

Are you confident you can handle house repairs (or can take the time to learn), or are you willing to pay a specialist when something breaks? Many things can happen with a property, such as roof leaks, plumbing issues, dry rot, etc. It's important to understand that maintenance issues on your home are your responsibility, and they need to be handled in a timely manner so they don't grow into even larger problems.

Are your finances in order?

Buying a home is one of the largest purchases you'll likely make, and it's important to make sure your financial house is in order. Start by reviewing your bank accounts and billing statements to get a handle on how much money you're making and spending each month. If you're planning to buy a house with someone else (like your spouse), review their finances as well.

Ask yourself the following questions:

Do you have stable employment?

Changing jobs or starting a family, in the next few years that could impact your financial situation.

Do you typically pay your credit card debt/bills on time?

Keeping your credit debt low will help you qualify for a better mortgage.

Do you have some money already saved up for emergencies?

A good rule of thumb is having three months of income saved.

Do you have some money saved up for a down payment and closing costs?

You should avoid using your emergency savings for this, or you could put yourself in a tight situation.

Inquire now for a free customized report!

The customized report will show you the amount of tax free cash you are eligible to receive and what other options are available tailored to your needs!

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17725 Crenshaw Blvd. Suite 306
Torrance, CA 90504

Phone Number

+1 (888) 891-1729