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Home Buyers

when in search of a home purchase loan, home improvement loan or first-time home buyer loan, you might find it challenging to find a home mortgage company that looks beyond your credit score. As a direct lender 1st Point Lending, Inc. has the flexibility and resources to provide you with a home purchase loan that you can afford.

Buying a home is one of the biggest and exciting decisions you will ever make. Having a trusted and an experienced mortgage company can make a significant difference in the home affordability and your financial health. Let 1st Point Lending, Inc. guide you toward your future home. We are the company that assures borrowers can always find a reliable private financing source.

few tips to buying your first home

Buying your first home is an exciting project, but it can also be confusing. There are lots of things to consider, including loan types, down payments, escrow lengths, and more.

1st Point Lending, Inc. is working with first-time buyers for over 15 years. We understand your needs and we have a wide range of loan products to fit your unique situation. With our friendly, experienced mortgage experts, you will get the advice you need to make an educated decision.

The best way to turn your dreams into a reality is to approach things step by step. Here is your easy guide to becoming a happy property owner:

1. Get pre-approved before starting your house search

  • Learn how much financing is available to you

  • Strengthen your bargaining position with sellers

2. Choose a real estate agent

  • Select a reputable professional who knows the market and will listen to your needs

  • Ask potential agents for references from former clients

3. Start your search for the perfect home

  • Talk about the neighborhoods you’d like to live in

  • Create a wish list of “must have” and “nice-to-live” features

  • Take notes of the pros and cons of each home you visit

4. Make an offer

  • Your real estate agent will put together an offer to present to the seller

  • The seller can accept, provide a counteroffer, or reject it

  • When the offer is accepted, you and the seller will sign a Purchase Agreement, defining the terms of the sale

5. Have the home inspected

  • After your offer is accepted, hire a professional home inspector to provide
    an in-depth look at the basic systems of the house, reveal any safety hazards, and give you a chance to reconsider the deal

6. Get a home appraisal

  • An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value

7. Obtain title insurance (where applicable)

  • Title insurance guarantees that the property you are purchasing is free of liens or confusion in rights of ownership

  • The policy insures against any losses to the property that result from defects in the title or deed

8. Close on the property

  • At close, the ownership of the property is transferred to you

  • A closing agent coordinates and distributes all the paperwork and funds

9. Celebrate!

  • You’re the proud owner of a new home!

1st Point Lending, Inc. advisers are always happy to advise you on the process of obtaining a mortgage for your perfect new home. When you’re ready, give us call at 
+1 818-432-3580

Things to know about buying Vacation Home or Second Home

A Vacation Property is classified as a Second Home even if you don’t own the house you’re using as your primary residence.  For instance, if you’re renting in New York and you want to buy a vacation home in Los Angeles, banks will consider your Los Angeles property to be a Second Home. The requirements for a mortgage on a Vacation Property might be a little stricter than for a mortgage on a primary residence. So, if you want to buy a vacation home you should keep in mind few things about it:

It won’t be rented to other people for the sole purpose of producing income as in a non-owner occupied, rental property. It is normally 50 miles or more from your primary residence.

  • A Second Home is anything other than your primary residence that you plan to occupy sometime in the next twelve months, for some undetermined length of time.

  • It won’t be rented to other people for the sole purpose of producing income as in a non-owner occupied, rental property.

  • It is normally 50 miles or more from your primary residence.

These distinctions are important because they will determine the types of properties you can purchase, the kinds of loan products you can use, and the cost of financing.

For over 15 years, 1st Point Lending, Inc. helps home-buyers get into their dream vacation homes. We understand that vacation properties are different, and that your financing needs are unique. We will get you through the process quickly, efficiently, and with the excellent customer service.

Feel free to give us a call any time to schedule a conversation with the mortgage specialist on the opportunities of financing your vacation home:
+1 818-432-3580

What is an Investment Property Home Loan?

Investment properties, also known as non-owner occupied properties, can be quite profitable for everyday homeowners and real estate investors alike. Rental properties can be hundreds of miles from your primary residence or they can be next door. The main purpose aside from any tax benefit and equity growth is to produce income from the rent you collect.

Getting started as a Real Estate investor can be a bit challenging. You will need to have all the information to help you determine if the investment property you’re considering to buy makes sense. With the professional advice from 1st Point Lending, Inc. experts you will be able to calculate and understand the costs of owning an investment property.

Apply online today or contact us for assistance. Our mortgage professionals will guide your way through the process of obtaining a suitable loan quickly and efficiently with the lowest rates available.

Here are the most frequently asked questions we get from borrowers:

  • How much do we loan? 

    The company keeps the industry standard of $30,000 to over $1,000,000 amounts in terms of brokered loans. First-time home buyers form the majority of the market most of our loans specifically range from $70,000 to $950,000 on average.  We always look for attractive investment properties for you.

  • What is the loan-to-value that we loan on? 

    1st Point Lending, Inc. has a number of long-term loan programs. We loan for up to 60% of the after-repaired value of a property.

  • Is there a need for an appraisal?

    There are certain circumstances where an appraisal is needed. Specifically during times when a borrower wants to obtain the maximum loan-to-value from or when a given property's fair market value is hard to determine. In the majority of cases, finding the fair market value is a simple task, so appraisal may not be needed.

  • How quickly can a loan be funded? 

    This is a case by case situation, but on average, funding happens in 10 business days after we receive a borrower's loan application. Obtaining funding of the expeditious type is also possible.

  • What is the benefit of loan fund borrowing when compared to an interim or bridge loan source borrowing?

    The 1st Point Lending, Inc. principals make all the decisions. There are no formal loan committees in our company, which means decisions can be made quicker than in other firms. We have capital available to lend for loan funds, as well as we work with a number of individual investors to ensure you will be able to obtain a loan you need.

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