Purchase Loans

Preparing to Buy a Home

Before making an offer, buyers typically begin with a mortgage pre-approval. A pre-approval helps determine a comfortable price range and shows sellers that your financing has been reviewed by a lender.

During this stage, income, assets, credit history, and overall financial positioning are evaluated to identify loan options that align with your goals and timeline. In competitive Los Angeles markets, having a strong and accurate pre-approval can make a meaningful difference.

Conventional Purchase Loans

A purchase loan is used to finance the purchase of a residential property, whether you’re buying your first home, moving into a new primary residence, or purchasing a second home or investment property. In the Los Angeles market, choosing the right purchase loan structure is a critical part of submitting a competitive offer and reaching a successful closing.

Purchase loans may include conventional loans, government-backed programs, and other financing options, depending on your financial profile, down payment, and the type of property you’re purchasing.

Conventional loans are commonly used for home purchases and are not insured or guaranteed by a government agency. These loans are often chosen by buyers with established credit and stable income and can be used for primary residences, second homes, and certain investment properties.

Conventional purchase loans may offer flexible down payment options and a range of loan terms, depending on qualification and property details.

What Happens After an Offer Is Accepted

Non-Conventional Purchase loans

Non-conventional loans can be a great option for borrowers who don’t meet traditional mortgage guidelines, including:

Self-employed borrowers with non-traditional income
Buyers with limited income history
Borrowers with past credit challenges
Foreign nationals purchasing U.S. property
Eligible veterans, service members, and surviving spouses
Buyers who may qualify for FHA or specialty community programs

Once your offer is accepted, the mortgage process moves into underwriting. This includes a detailed review of documentation, an appraisal of the property, and coordination with escrow and other parties involved in the transaction.

Clear communication and timely responses during this phase help keep the transaction moving forward and support a smooth path to closing.