IT'S NEVER BEEN EASIER.

SECOND/ VACATION HOME 

YOUR SECOND HOME IS WAITING

 

Where have you been dreaming to call home? Are you looking for an ocean front view, a place to ski, or something adjacent to the green? Whatever your dream, your second home is a special place, with special home finance considerations. Let’s get you there.

SECOND HOMES HAVE UNIQUE FINANCIAL AND LENDING REQUIREMENTS.

Second homes will have special considerations for financial and lending requirements. We can help you determine the affordability of a vacation home, and guide you through the specific lending requirements that are needed for your second home. 

With our large selection of loan options available, we can find the perfect financing for the other home you have been dreaming of. We can tell you the requirements necessary to make your vacation home a reality.

THE LOAN PROCESS

HERE IS AN OUTLINE OF THE TYPICAL HOME BUYING PROCESS WE WILL GUIDE YOU THROUGH:

1. PRE-APPROVAL

Based on your income and credit information, we can give you a written statement stating our preliminary determination that you would qualify for a specified loan amount under our loan guidelines. A pre-approval letter is usually good for 60 to 90 days.

2. CHOOSE A REALTOR

A good realtor can help you find the home you are looking for, in the area you want, and can help you with offers, negotiations and contracts.

3. CONTINGENCY PERIOD

Once you have found your home and made an accepted offer, you will sign a contract, which is legally called a “contingent contract.” This means you are agreeing to purchase the property contingent upon certain conditions being met. The most usual contingency is that the home must be free of major defects, subject to inspection by a qualified home inspection. The contract has a contingency period that typically allows you 10-18 days to collect more information and decide whether you want to proceed or not, without forfeiting your deposit. During this time, you will work with

Your realtor to:

  1. review and approve the Seller’s Real Estate Transfer Disclosure Statement

  2. review and approve the Preliminary Title Report

  3. arrange for inspections

  4. approve inspection reports

Your loan originator (that’s us!) to:

  1. satisfy any loan contingencies in the purchase contract

4. HOMEOWNER'S INSURANCE

You must have arranged for homeowners insurance before close of escrow. If your new home is in a flood zone, you will need flood insurance — we can help you with that determination and recommend appropriate insurance companies.

5. DOCUMENT SIGNING

We will prepare the necessary documents for your signature and will send them to the escrow company for signing. We will give you copies of all title and loan documents you sign.

6. DOWN PAYMENT & CLOSING COSTS

Several days before closing, you will be asked to go to the escrow company to sign documents and make a down payment (you need to bring a cashier’s check for this). The escrow officer will walk you through a Buyer’s Estimate Closing Statement, which will itemize your costs and credits associated with the purchase. Note that this is an estimate, but it will closely resemble your final amounts.

7. FUNDING

As your loan originators, we will receive your signed loan documents and any other loan condition documentation from the escrow company. When we have reviewed and approved the documentation, we will wire your loan funds to the escrow company.

8. CLOSE OF ESCROW

When the escrow company verifies the funds transfer, they arrange for the deed of title to be recorded in your at the office of the County Recorder.

LET US HELP YOU FIND THE HOME LOAN TO

REACH YOUR FINANCIAL GOALS

 FIXED RATE 

The peace of mind of a fixed rate and payment is the right choice for most borrowers.

 ADJUSTABLE RATE 

When you have short term lending goals, an adjustable rate may be right for you.

 WHAT CAN I AFFORD? 

 

Use our mortgage calculators to see current mortgage rates and determine your monthly payment.

ACHIEVE YOUR HOMEOWNER DREAMS WITH

AMERICAN PACIFIC MORTGAGE

SPECIALTY PRODUCTS

Sacramento Office: 980 9th St, Suite 1780, Sacramento, CA 95814

800.455.0986

NMLS #1276063/1850

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act

Davis Office: 422 2nd St, Davis, CA 95616

800.455.0986

NMLS #1445397/1850

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act

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© 2020 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.

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CALIFORNIA HOME LOANS

JASON MATA NMLS #273080 | 1850