I was referred to Dawna by a mutual friend when I started looking for my dream retirement beach house in Cayucos. Our journey together took three years with lots of looking and discussions to finally find me the perfect house. I can't thank Dawna and her amazing Executive Assistant Jodi for all of their patience, helpfulness and hard work on my quest to find the perfect home. Both Dawna and Jodi made me feel like they had all of the time in the world for me when I called with questions or concerns. Dawna is always cheerful and such a pleasure to work with. She is very responsive and extremely knowledgeable about the central coast. I highly recommend Davies Company Real Estate for all of your real estate needs. I wouldn't hesitate to use Dawna again and I did.... I used Dawna to sell my Paso Robles home after I purchased my new home. I once again found both Dawna and Jodi to be extremely professional and knowledgeable about the market. Dawna did a wonderful job of marketing my house and went above and beyond until it sold.
- Find a reliable, experienced, and local loan officer. If you are shopping rates and service providers, do this long before you start house hunting.
- Get prequalified for a loan. Although this may seem obvious, we encourage you to go further and ask your loan officer to calculate your payments at higher rates than today, so you have an idea of what to expect if rates continue to climb. Get qualified for both your budget amount and for the maximum amount that you can afford based on the standards/qualification process of your anticipated lender.
- Prepare all paperwork for your lender, and be ready to provide on short notice. If you have not had a real estate loan experience in the past seven (7) years, be aware that the rules for qualifying for loans are always changing and the process has become significantly more challenging. It may be a frustrating process at times. Your preparation and availability of documents will ease the experience.
- Lock your loan interest rate. If your lender encourages you to lock your interest rate, consider doing it immediately. A good loan officer will keep you informed about your choices and will have a perspective on past rates and fluctuations. Note: the lock timing may be affected by your purchase timing, if you are buying. Always review with your real estate agent before securing an interest rate lock.
- Consider a longer loan lock period when you lock your rate. This extended lock timing cost is usually paid at closing date through escrow and may be less than you think, and definitely less expensive than if you extend the loan lock later in the transaction. The peace of mind of staying within your budget may be worth it, especially as the purchase transaction progresses and if timelines extend beyond expectations.