purchasing

HOME BUYING PROCESS IN SANTA BARBARA

WORLD-CLASS

mortgage experience

          he MacFarlane Team aims to provide a world-class, yet simplified home loan experience. In order to do so, we've broken down                 the  home buying process into 7 steps. This is a simple, clear explanation of the home buying process from start to finish. This is perfect for those who want a basic outline to follow as they look for their first/next house. With an idea of what to expect, there shouldn’t be any unpleasant surprises in store for you, and you can make buying a home a cinch (well, not really a cinch, but it’ll definitely be easier). Though this guide was made with buying a home in Santa Barbara, CA in mind, the same basic steps can be applied anywhere. We at the MacFarlane Team also provide services for national loans in all 50 states. 

 

Here’s the simplified home buying process walk-through:

 

T

 

home buying

STEP PROCESS TO

6

There are two things to think about - Affordability and “Must Haves.

 

Affordability is self-explanatory, but we’ll still explain it. Don’t waste too much time looking at houses that are outside of your budget. Yes, they’re beautiful, impressive, and yes you might be able to afford them. But you don’t want to convince yourself to buy your dream home and end up house poor, scraping by to stay in a huge, pointless home.

 

At the same time don’t cheat yourself by going dirt cheap and buying a house that’s falling apart in a high-crime neighborhood. Find a balance between price and beauty that works for you.

 

“Must-haves” are a good way to narrow down your choices and pick a neighborhood you’ll love living in. Such as, do you want to be near a high-rated elementary school, or would you prefer to be closer to work? Or can you get both? Do you want a large, private backyard or a neighborhood with fenceless yards? Consider everything that is important to you (location, amenities, parks, styles, etc.) and make a list of must-haves to find the neighborhood that checks the most boxes off your list.

 

In Santa Barbara, there are a lot of “must-haves” that can be on your list because there is so much variety to choose from. There are many small, intertwined neighborhoods in Santa Barbara that are very nuanced, so you’ll need a list to figure out which one you love the most or an experienced real estate agent to take you on a guided tour.

1

Pick Your Ideal Neighborhood

Apply Early

For Financing 

2

This step is essential.

 

Talk to Diana MacFarlane and her team to get pre-approved for your loan. This will give you an idea of exactly what you can afford so you can narrow down your search to homes within your budget. With this, you will also receive a loan estimate and get the finer details of the financing you’ll be able to qualify for.

This is the first step in your approval process so that you'll meet your loan and appraisal contingency and close on time. Keep in mind that the factors that determine what you pay on your mortgage will change slightly upon approval. Also, when you’ve chosen out a few houses you’re very interested in and are serious about buying, you’re going to want pre-approval instead of pre-qualification.

Now refine the search you started in step 1, it’s time to decide on the specific house that’s right for you.

 

You can create another list of must-haves that is more focused and considers specific traits your looking for in a house, confined to your top neighborhoods. Such as, do you want a pool, are you looking for a home theater, how many bedrooms is ideal, or about bathrooms?

 

At this step, a smart idea is to hire a REALTOR© or real estate agent. They can share their expertise and help you understand the subtle distinctions between homes in Santa Barbara so you can pick out your favorite. When it comes time to buying, they’ll also be a valuable person to have on your team because they can negotiate prices based on their thorough understanding what a property is really worth.

Find Your

Dream Home

3

Discuss Financing With Experts

4

There are many factors that come into play when looking at mortgages, making it hard to understand how they’re actually going to impact the one thing that matters: how much you pay. 

Which is why we recommend hiring Diana MacFarlane and her team.

 

Diana MacFarlane and her team bring their expertise to the table to guide you through your options and help you choose the best mortgage. Also, their relationship with banks and lenders will prove invaluable when you start comparing rates and negotiating mortgage agreements. They can quickly and masterfully go through a process that would otherwise take you weeks, and end up costing you if you skip over or misinterpret an important factor of your mortgage.

Loan consultants will help you find the mortgage that’s the best fit for you.

 

Our Santa Barbara branch of Caliber Home Loans is headed by one of the best loan consultants in the nation. Certainly the top home loan consultant in Santa Barbara, Diana MacFarlane is not someone you want to miss.

Once You're 

Escrow

5

Diana MacFarlane and her team make this next step a lot easier.

 

Since you've already been pre-approved it is now time to secure your loan and lock in your rate. Diana and her team will communicate with your realtor and escrow company. Diana and her team will provide you with Loan Estimate which will help you understand the terms of your mortgage and your closing costs. 

 

If you haven’t been working with a loan consultant, you’ll need to do all of this yourself. First, take a close look at your mortgage to understand the terms. Then, you’ll need to go through to determine and figure out how much you’ll be paying in closing costs. These costs include lender fees, escrow, title fees, homeowners insurance, and property taxes.

SOLD!

6

Prior to ordering documents Diana and her team will provide you with a Closing Disclosure. This document will confirm your final terms and closing costs. Once you've signed the Closing Disclosure your loan docs will be sent to escrow company/closing agent.

 

You’ll sign all of your loan documents, pay your down payment and closing costs, and finally sign the deed to your dream home.

 

Then it’s time to celebrate!

HOME BUYING

 

questions + answers

Diana MacFarlane and her team are a direct lender as well as mortgage brokers. Which gives them access to several different lending sources. works as a middleman between you and the bank, whereas a bank or mortgage lender works directly with you. 

 

“The choice is yours on how you want to handle your loan process,” Gendels says. 

 

Diana MacFarlane and her team bring their expertise to the table to guide you through your options to help you choose the best mortgage and lending guidelines. Also, their relationship with banks and lenders will prove invaluable when you start comparing rates and negotiating mortgage agreements. They can quickly and masterfully go through a process that would otherwise take you weeks, and end up costing you if you skip over or misinterpret an important factor of your mortgage.​

 

Our Santa Barbara branch of Caliber Home Loans is headed by one of the best loan consultants in the nation. Certainly the top home loan consultant in Santa Barbara, Diana MacFarlane is not someone you want to miss.

What’s the difference between working with a bank & working with a mortgage consultant?

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Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 NMLS ID #15622. 1-800-401-6587.Copyright©2019. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations apply. Licensed by The Department of Corporations under the California Residential Mortgage Lending Act, Finance Lender Licensee.