Alex: all right friends and family, it's your favorite amigo, Alex Ortiz. thank you for stopping by my YouTube channel, Instagram channel. if you haven't subscribed already or followed me on Instagram or YouTube, make sure you do so. if you don't know the address, it's alexortizrealestate. it's also my website as well alexortizrealestate.com. today's topic, we're gonna keep it short and simple, because that's the way I like it I want information now, I want it fast and I want to get in and out. so today, I have a great gentleman with that with me, that I work consistently with. his name is Gordon Cooper from New American Funding. he ups several of my buyers purchased their first home or their second home, whatever the case may be and today's topic is the first step you need to do, in purchasing your home. so Gordon, I tell everybody that comes into my office or we meet at an open house the first step that you need to do is, get me qualify for a loan. what do agree?
Alex: Okay, so first step, that you need to do in order to get pre-qualified, what do you say Gordon?
Gordon: all right, the first step you got to do is, pick up that phone and reach out to lender, like myself. yeah or somebody else. but from there, we're going to take it to the second step, which we want to get income verification. So, that's called capacity to repay.
the second thing is, we're gonna ask for cash. what do you have to invest into that property? and the third thing that everybody hears about every day is FICO score and credit score. Now, you don't have to have the best credit score in town, you just have to have good enough credit score in order to buy a home. those are the three main steps that we want to take care of.
Alex: it's great. Now, you know I have a lot of people that come to me and they say, “you know, we're not ready right now.” “we don't have the down payment.” “we don't think our credits good enough.” and I always tell them this, I say “why don't you just check to see what you can qualify for if you can qualify for and if it doesn't work out, the lender that you're working with it should be able to set you up and kind of give you some guidelines on what you need to do in order to purchase your first home or what not.”
Gordon: Right, that's exactly what we do. we give you a consultation, we say okay, if you do this this and this, that will raise your credit score up. if you have to save money, we'll give you a plan. bottom line is if you don't take the first step to see what you can do, you'll never know.
Alex: Hmm, excellent. that's something that I run into quite often and Gordon I've worked on with several clients, where you know in the beginning client says we want to find the dream home first and then we'll get pre-qualified for it, but what from your experience, my experience what do you find that happens?
Gordon: Well, they do find that dream home and then then they try to get pre-qualified but by the time, they do all the processes, somebody else wants that dream home. so you should be ahead of them and be ready to make the best offer possible.
Alex: that's right. so if you're going house hunting, you want to make sure you have the right equipment. so once you write that offer, it looks smooth it looks great and it gets accepted. So, once again, first step to buying a home obviously I want you to contact someone like myself my name is Alex Ortiz, I'm your realtor but you know what honestly the first step you really need to do is contact someone like Gordon Cooper, he's a loan professional. he's been doing it for, what 25 years?
Gordon: 25 years.
Alex: 25 years and he has a lot of experience helping individuals, families, from all different backgrounds. and that's something that I really appreciate about Gordon. so once again, fam, first step, get yourself pre-qualified for a loan and go through that step. if it's not the right time now, then that person should be able to help you set up the steps, for when the right time comes. so once again, this is Alex Ortiz from Sunset Homes Real Estate. this is Gordon Cooper, from where?
Gordon: New American Funding.
Alex: all right, have a great day everyone.