How to Buy a House – First Step is Pre-Approval

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How to Buy a House

Mortgage Loan Pre-Approval Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers with knowledge on how to buy a house need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Buying a House – Pre-Approval is the First Step

 

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with a home mortgage lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” 

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved by a home mortgage lender is one of many steps that will show home sellers that you are a serious home buyer, and it often helps speed up the process once your offer has been accepted.

In Conclusion

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well. If you would like to know more about how to buy a house, available homes for sale in Lake Balboa or any other San Fernando or Santa Clarita Valley real estate, please reach out to HelpUSell real estate professionals at Southland Realty today!

 


 

Search homes for sale. We have complete Multiple Listing Service (MLS) of residential homes for Sales in Los Angeles, San Fernando Valley and Santa Clarita Valley.

 

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7955 Amestoy Avenue Lake Balboa, CA 91406

$575,000 - 3Br/2Ba -  for Sale in Lake Balboa
Open House
New
$575,000
3 Beds
2 Baths
1,350 SqFt
Status Active
MLS # 17272856
Property Type Single Family Residence
Easy indoor-outdoor living features prominently in this charming Midcentury home. Single level with pool and spa, this home offers an open floor plan with hardwood floors, cool original fireplace, central air and recessed lighting. The backyard is perfect for entertaining, complete with a covered patio adjacent to the pool. There is a spacious kitchen with abundant storage, laundry room, an over-sized gated driveway, and a 2 car detached garage. Located in a sought-after Lake Balboa neighborhood that's close to amenities and schools. Within close proximity to Lake Balboa recreational areas (great place to ride bikes, BBQ, picnic or rent a paddle boat), Sepulveda Wildlife Reserve, Japanese Gardens, golf, sports courts, 101 and 405 FWY access, the Orange Line, the Encino Farmer's Market and more!

8331 Dempsey Avenue North Hills, CA 91343

$585,000 - 3Br/2Ba -  for Sale in North Hills
New
$585,000
3 Beds
2 Baths
1,222 SqFt
Status Active
MLS # SR17218297
Property Type Single Family Residence
3 bedroom, 2 bath fully remodeled home in lovely North Hills. This home has been completely remodeled from top to bottom, new custom kitchen, new A/C system, new floors, new jacuzzi tub, new master bath and much more, words cannot tell the whole picture, a must see. The extensive renovation has created a warm and inviting feeling to this home.. The new kitchen is a delight for the chef, the island cooktop with stainless steel hood accentuates the feel of this custom kitchen. The master bedroom has been completely redone, with a big sliding door to the patio and a brand new custom master bathroom with a walk in closet. This house has all led lighting thought. The spacious deck is a entertainment delight. The house has a new 200 amp service upgraded to handle all the electrical requirements of this stunning updated home.

9311 Valjean Avenue North Hills, CA 91343

$529,000 - 3Br/2Ba -  for Sale in North Hills
New
$529,000
3 Beds
2 Baths
1,588 SqFt
Status Active
MLS # SR17218558
Property Type Single Family Residence
Priced to sell, Investor/Fixer Opportunity! Situated on a quiet street in a family friendly North Hills West neighborhood this single story home features three bedrooms, two bathrooms, 1588 square feet of living space, updated kitchen and a private backyard. Marble entry way leads you to an open floor plan living room, enhanced by high ceilings, a marble fireplace, wood mantel and a mosaic floor tile design. The formal dining room is highlighted by a beautiful mosaic tile floor in its perimeter. The spacious kitchen features granite counters, updated cabinets with pull-out and soft closing drawers, gas range, microwave, refrigerator and newer dishwasher. Adjacent to the kitchen, you will find a breakfast area, a TV room and indoor laundry room with gas hook-up. The master bedroom offers wall to wall closet space, wood beam vaulted ceiling, and a 3/4 bathroom with an updated vanity and a stall shower. The two additional family bedrooms offer wood beam vaulted ceilings, laminate floors, and ample closet space. The full bathroom boasts of a tiled stall shower and a dual sink vanity. The spacious backyard with a large cement patio is surrounded by block walls and is perfect for entertaining and gatherings. Features include central air and heat, dual pane windows, partial copper plumbing, 2-car garage and cement driveway. This is the perfect opportunity for investors or for first time home buyers to make it their own.

15740 Lemarsh Street North Hills, CA 91343

$325,000 - 2Br/1Ba -  for Sale in North Hills
New
$325,000
2 Beds
1 Bath
885 SqFt
Status Active
MLS # TR17218667
Property Type Single Family Residence

13117 W Victory Boulevard Los Angeles, CA 91401

$722,000 - 4Br/4Ba -  for Sale in Los Angeles
New
$722,000
4 Beds
3.5 Baths
2,203 SqFt
Status Active
MLS # 17272900
Property Type Single Family Residence
Brand new construction in fast-rising Valley Glen offers beautiful contemporary design in a central location. The detached residence features 4 bedrooms, 3.5 bathrooms and a private rooftop deck with panoramic views. On the ground level find a bedroom suite, patio and two-car garage. Upstairs are open-plan living, dining, powder room, a covered deck and sun-splashed kitchen with center island and stainless Bosch appliances. Third level has two more bedrooms plus the Master Suite with a spacious walk-in closet. Landscaped common-use areas provide space for BBQ's and playtime. Next door are Tujunga Wash walking/biking trails and Victory Plaza with a supermarket, LA Fitness, Blaze Pizza and more. The NoHo Arts District is nearby and it's a short commute to Burbank, Glendale, Studio City and Universal. Your purchase experience includes options for customization with a professional designer. This new home by Warmington Residential is currently under construction and ready to be reserved.

13121 W Victory Los Angeles, CA 91401

$679,000 - 3Br/4Ba -  for Sale in Los Angeles
New
$679,000
3 Beds
3.5 Baths
1,950 SqFt
Status Active
MLS # 17272874
Property Type Single Family Residence
Brand new construction in fast-rising Valley Glen offers beautiful contemporary design in a central location. The detached residence features 3 bedrooms, 3.5 bathrooms and a private rooftop deck with panoramic views. On the ground level find a bedroom suite, patio and two-car garage. Upstairs are open-plan living, dining, powder room, a covered deck and sun-splashed kitchen with center island and stainless Bosch appliances. A pair of third level bedroom suites include the Master with a spacious walk-in closet. Landscaped common-use areas provide space for BBQ's and playtime. Next door are Tujunga Wash walking/biking trails and Victory Plaza with a supermarket, LA Fitness, Blaze Pizza and more. The NoHo Arts District is nearby and it's a short commute to Burbank, Glendale, Studio City and Universal. Your purchase experience includes options for customization with a professional designer. This new home by Warmington Residential is currently under construction and ready to be reserved.

7202 N Chestnut Lane Van Nuys, CA 91405

$549,000 - 2Br/3Ba -  for Sale in Van Nuys
Open House
New
$549,000
2 Beds
3 Baths
1,520 SqFt
Status Active
MLS # BB17216970
Property Type Single Family Residence
Fantastic, light and bright, Greenwood Square, newer built, Craftsman inspired tri-level single family home in Van Nuys. Originally built by KB in 2015, this energy efficient ”green” project, small-lot detached home was designed to be resource conserving in every way, including programmable thermostats, Energy Star appliances, WaterSense faucets/fixtures, etc and is in nestled in a gorgeous development, complete with its own neighborhood park for residents. Amazing floor plan, with a direct access private garage that leads to the foyer/formal entry. Steps up to the main living area, featuring the open concept living/dining areas, highlighted by the spacious chef’s kitchen featuring stylish countertops, stainless steel appliances and a walk in pantry – and adjacent to the laundry and powder rooms. Two amazing bedroom suites, are located on the top floor each with their own baths, including the grand master retreat with huge walk in closet. This is a great opportunity to seamlessly move into a newly built home, perfect for today’s busy lifestyles!

17522 Lemay Place Lake Balboa, CA 91406

$649,000 - 3Br/3Ba -  for Sale in Lake Balboa
Open House
New
$649,000
3 Beds
2.5 Baths
1,681 SqFt
Status Active
MLS # SR17218159
Property Type Single Family Residence
Story book traditional with guest unit in a highly desirable neighborhood of Lake Balboa. Follow the pavers up through the lush and picturesque landscaping to the front door of this masterpiece. Upon entering, you will immediately notice the loving care and thought that went into each upgrade this home exemplifies. The cook’s kitchen has been completely remodeled and features exquisite quartz counters, recessed lighting, subway glass tile backsplash, newer cabinets and stainless-steel appliances. Both bathrooms have also been updated with newer vanities and light fixtures. Gorgeous refinished hardwood floors flow from the living room and into each of the three bedrooms. There is an updated guest unit behind the garage which has newer floors, newer paint, newer counters and a remodeled bathroom. You can soak in the California sun while playing with the kids in the yard or relax under the covered patio while sipping on your favorite cocktail. Other upgrades you will appreciate are the dual pane windows, copper plumbing and newer sprinklers for the backyard. The home is centrally located and within walking distance to the dog park, Sunday Farmer’s market, Metro Orange Line and a Blue Ribbon elementary school.

13123 W Victory Boulevard Los Angeles, CA 91401

$679,000 - 3Br/4Ba -  for Sale in Los Angeles
New
$679,000
3 Beds
3.5 Baths
1,947 SqFt
Status Active
MLS # 17272814
Property Type Single Family Residence
Brand new construction in fast-rising Valley Glen offers beautiful contemporary design in a central location. The detached residence features 3 bedrooms, 3.5 bathrooms and a private rooftop deck with panoramic views. On the ground level find a bedroom suite, patio and two-car garage. Upstairs are open-plan living, dining, powder room, a covered deck and sun-splashed kitchen with center island and stainless Bosch appliances. A pair of third level bedroom suites include the Master with a spacious walk-in closet. Landscaped common-use areas provide space for BBQ's and playtime. Next door are Tujunga Wash walking/biking trails and Victory Plaza with a supermarket, LA Fitness, Blaze Pizza and more. The NoHo Arts District is nearby and it's a short commute to Burbank, Glendale, Studio City and Universal. Your purchase experience includes options for customization with a professional designer. This new home by Warmington Residential is currently under construction and ready to be reserved.

8532 Columbus Avenue Unit 1 North Hills, CA 91343

$309,000 - 2Br/3Ba -  for Sale in North Hills
New
$309,000
2 Beds
2.5 Baths
1,519 SqFt
Status Active
MLS # SR17218165
Property Type Townhouse
Move-in condition! This totally rehabbed tri-level townhouse with large living room, 1st floor bath, kitchen, two master suites and walk-in closets on the top floor, large bonus room that includes one additional room in the basement is the greatest value on the market. Low $260 monthly HOA fee includes community pool and spa.

6611 Aura Avenue Reseda, CA 91335

$585,000 - 3Br/2Ba -  for Sale in Reseda
New
$585,000
3 Beds
2 Baths
1,509 SqFt
Status Active
MLS # SR17218162
Property Type Single Family Residence
PERFECT 3 BEDROOM + 2 BATHS FAMILY HOME WITH BEAUTIFUL HARDWOOD FLOORS THROUGHOUT AND CENTRAL A/C. THE KITCHEN WITH GRANITE COUNTER TOP AND CERAMIC TILES OPENS TO A LARGE AND WELCOMING FAMILY ROOM. THE FENCED FRONT AND BACK YARD ARE THE RIGHT PLACE FOR FAMILY GATHERINGS.A SEPARATE LAUNDRY ROOM AND A TWO CAR GARAGE COMPLETE THIS GREAT HOME. DO NOT MISS IT.

15033 Sherman Way Unit G Van Nuys, CA 91405

$425,000 - 3Br/3Ba -  for Sale in Van Nuys
Open House
New
$425,000
3 Beds
3 Baths
1,754 SqFt
Status Active
MLS # SR17218249
Property Type Townhouse
Remodeled rear townhouse in the highly desirable Kimberly Woods complex shows true pride of ownership! Unit features 3 bedrooms and 2.5 bathrooms with spacious floor plan. Bright and airy living room with crown moldings, tiled gas fireplace and views of large private tiled patio with mature trees; Spacious formal dining room has been freshly; Remolded kitchen with ample wood cabinetry, Quartz countertops with tiled back-splash, large Quartz breakfast bar, tile flooring, recessed lighting with plantation shutters is adjacent to open family room. Updated downstairs powder room. Upstairs spacious master suite has “His and Her” closets, separate sitting area, plantation shutters, crown moldings, ceiling fan and private full updated bath; Two additional spacious bedrooms each with ceiling fans and plantation shutters. Additional upstairs full bath. Smooth ceilings throughout, dual paned windows, ample storage space, central heat and air. Attached over-sized finished garage that fits 3 cars and has laundry area. You’re going to spend countless hours enjoying the very large lush greenbelt right out your front door, in the rear of the complex, that feels like your own private backyard! Gated community features a heated pool, spa, sauna, BBQ and picnic areas for private parties, with two separate grassy yards. Close to shopping, public transportation and freeways. HOA includes EQ insurance, water, trash, landscaping, common area maintenance, and complex security company.

7631 Reseda Boulevard Unit 60-v Reseda, CA 91335

$329,900 - 2Br/2Ba -  for Sale in Reseda
Open House
New
$329,900
2 Beds
2 Baths
1,058 SqFt
Status Active
MLS # WS17217801
Property Type Condominium
Beautiful and Charming Condominium! This unit has 2 bedrooms 2 baths this home is located in the heart of Reseda on Reseda Blvd. Perfect starter home, updated kitchen countertops, bathroom countertops, and new carpet in bedrooms. Kitchen leads to sliding doors toward balcony where you can enjoy and relax for outdoor time. Nice complex that provides pool area to enjoy, playgrounds for kids to have fun, Tennis and basketball courts, clubhouse for family gatherings. Gated parking garage underground has 2 parking spaces. Close to shopping centers walking distance to restaurants , daily security on site, close to freeways. Don't wait this is a hot home, It won't last!

6861 Forbes Avenue Van Nuys, CA 91406

$539,000 - 2Br/2Ba -  for Sale in Van Nuys
Open House
New
$539,000
2 Beds
1.5 Baths
1,217 SqFt
Status Active
MLS # SR17217752
Property Type Single Family Residence
Stunning Lake Balboa Home!!!! This property is Move-In Ready. This gorgeous open floor plan features 2 Bedroom 2 Bath, completely remodeled kitchen with stainless appliances, New copper pipes, New HVAC, Polished hardwood in Living, Family, Dining, and Hallway, Den can easily be converted to 3rd bedroom. Huge entertainers yard. Re-done garage with recessed lights. Front and back yard with new landscape. Pride of ownership. Must see.

13638 Bassett Street Valley Glen, CA 91405

$799,000 - 4Br/3Ba -  for Sale in Valley Glen
Open House
New
$799,000
4 Beds
3 Baths
2,132 SqFt
Status Active
MLS # SR17214790
Property Type Single Family Residence
NEW LISTING! Enter your gated dream come true Valley Glen home! One-Level of Doll-house cuteness boasting flowing almost 2,200 SqFt and 4 bedrooms plus 3 baths! Designer features adorn every room! Enter the curved and hardscaped paved walk-way surrounded by a wonderland of refreshing and drought friendly landscape! WAY COOL! Covered front patio with Mediterranean tile! Open the French doors and let the sunshine sparkle! living room with hardwood flooring. Fireplace with mantel. Recessed lighting, Crown molding and so much more. The chef will relish the cooks kitchen with white washed cabinets, mosaic tile back splash and black granite/quartz counters! YUMMY! Lovely windows with designer shutters make this a truly adorable and designer kitchen! Wait till you see the bonus/sunroom ...or media center! Lounge or entertain here. Tile flooring and top of the line ceiling fans. You'll also find your own interior washer and dryer area with sink! If that is not enough - stroll into the Zen-Like huge and sprawling pool-sized yard! Plan your events here! Grassy area! Patio! Gorgeous sky and more. Close to everything! EZ access to transportation - Westside and your favorite local restaurants. This is the home you will say...WRITE THE OFFER...let us move in NOW! SHOW COLD!

11618 Viking Avenue Porter Ranch, CA 91326

$669,000 - 3Br/2Ba -  for Sale in Porter Ranch
Open House
New
$669,000
3 Beds
2 Baths
1,640 SqFt
Status Active
MLS # SR17215521
Property Type Single Family Residence
Range Priced. Seller will entertain & respond to all offers between $619,000 and $669,000. Simply Stunning! Located in a highly desirable neighborhood of Porter Ranch on a quiet cul-de-sac. This home is full of charm and privacy. This single story showcase with it's professional landscape, pavered driveway and inviting porch has amazing curb appeal. Enter through the double doors and you are greeted with a light & bright living room accented with a designer fireplace and beautiful wood beamed ceilings, the room is surrounded by large picturesque windows with an abundance of natural light. There is a spacious family room with dining area and sliders leading to the gorgeous rear yard. The kitchen is perfectly situated for entertaining with views of the pool and private beautiful grounds.The master suite has a separate sitting area, walk-in closet, en-suite and sliders leading to the rear yard. One additional bedroom boasts french doors leading to a 2nd tranquil patio perfect for relaxing with a good book. The 3rd bedroom has french doors that could be opened to the living room and another door leading to the hall. There is a full bathroom centrally located in the hallway. The rear yard is an entertainer's delight with sparkling pool, grassy area, deck off the master, multiple entertaining areas and an amazing deck high on the hill with stunning views. Highly desirable school districts. Walking distance to Viking park.

19524 Sherman Way Reseda, CA 91335

$539,500 - 3Br/2Ba -  for Sale in Reseda
Open House
New
$539,500
3 Beds
2 Baths
2,100 SqFt
Status Active
MLS # SR17217109
Property Type Single Family Residence
Welcome home to a charming 3 bedroom 2 bath renovated house on a tree lined street. Feel right at home when you walk into this open floor plan consisting of a family room, living room, dining room and entertainer's kitchen. Large master suite with a walk-in closet including built in drawers, shelving and plenty of hanging space, as well as a 2nd closet and an ensuite bathroom. Lovely open kitchen featuring oak cabinets, stove, double oven, dishwasher, plenty of counter and storage space as well as a walk-in pantry and a separate laundry area located off of the kitchen. New Exterior and Interior paint, double pane windows, beautifully finished wood floors throughout, custom window coverings, upgraded electrical panel and copper plumbing! Relax in your peaceful backyard with newer landscaping and a patio off of the master and living room. New cedar wood fence, detached garage with built-in storage cabinets and shelving as well as additional parking area for 3 cars. House is wired for internet, phone, and DISH/DIRECTV located in one central location. Living room and dining room are sound wired as well as surround sound in the family room! Home is Insulated inside and out resulting in a quiet and more energy efficient home. Doors, windows and garage area are set up with security features. Central AC/heat including 2 AC units with separate thermostats as well as landscaping timers in front and back. Don't miss this opportunity to purchase a beautiful, pride-of-ownership home!

17353 Willard Street Northridge, CA 91325

$439,999 - 2Br/1Ba -  for Sale in Northridge
Open House
New
$439,999
2 Beds
1 Bath
990 SqFt
Status Active
MLS # SR17217748
Property Type Single Family Residence
Fixer Alert! Calling all contractors, investors, and handy owner-users to come check out this great starter home and/or investment opportunity! This cozy Northridge fixer is located on a spacious lot and in a quiet and desirable neighborhood. The many windows throughout provide tons of natural light. Cozy brick fireplace, eat in kitchen, and 2 bedrooms serviced by 1 bath. Laminate wood floors throughout. Plenty of space out back for expansion! Don’t miss your chance to come check it out before it’s too late!

7651 Reseda Boulevard Unit 20-t Reseda, CA 91335

$320,000 - 3Br/2Ba -  for Sale in Other - Othr, Reseda
New
$320,000
3 Beds
2 Baths
1,146 SqFt
Status Active
MLS # 217011570
Property Type Condominium
Welcome home to this gorgeous Reseda condo with 3 bedrooms, 2 bathrooms and plenty of room for entertaining. The unit comes equipped with an open kitchen displaying granite counters, updated cabinets, stainless steel appliances and stainless steel sink. Also includes a formal dining area and cozy living area with an attached balcony. The downstairs bath comes with a remodeled travertine shower and updated vanity and fixtures. There are three spacious bedrooms upstairs with a full bathroom, that includes a travertine tiled shower, updated fixtures and two separate sink areas with updated vanities. Other upgrades include wood laminate flooring and custom paint throughout. The HOA includes a pool, spa, playground area and sport courts, underground parking as well as a gated complex.

13903 Sherman Way Unit 4 Van Nuys, CA 91405

$345,000 - 2Br/2Ba -  for Sale in Other, Van Nuys
New
$345,000
2 Beds
2 Baths
1,055 SqFt
Status Active
MLS # 817001963
Property Type Condominium
Nice 2-bedroom condo located in Van Nuys. Gated parking garage with 2 assigned spaces with electronic entry/exit gate. The building has a secured lobby entrance. Bright unit with vaulted ceilings, gas fireplace, & a balcony off the living room. Master bedroom with walk-in closet

19420 Lorne Street Reseda, CA 91335

$540,000 - 4Br/2Ba -  for Sale in Reseda
New
$540,000
4 Beds
2 Baths
1,486 SqFt
Status Active
MLS # OC17216809
Property Type Single Family Residence
Beautiful, Gorgeous, Custom, Designer's Home. 4 Bed 2 Bath home located in Prime Reseda. 2 Minutes from Northridge Mall and amazing shopping, dining and entertainment venues. Ranch style home with wood vaulted ceilings. Carport parking for 2 cars and large driveway for an additional 4 cars. Back yard with flagstone patio and gazebo, perfect for entertaining and private. Central heating/air. Huge master suite with massive walk in closet. Granite and slate countertops and shower/tub in bathrooms. Tiles floor in kitchen and bathrooms. Nice appliances with 5 burner stove and built in microwave with recirculating vent. House was completely remodeled and renovated in 2009. Custom paint colors throughout. Faux wood blinds throughout entire home. Recessed, track and sconce lighting throughout.

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