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Getting the Process Right: 3 Steps Towards Your Dream Home

October 9, 2020 by Shannon Christenot

Buying A Home Tips in Los Angeles California

Right after graduation, life begins and unfolds in unpredictable ways. One of the most solid paths people make is saving up for their dream home. Homeownership is regarded as one of the most significant milestones, both in the financial landscape and life in general.

Deciding to buy a home is a huge investment, one that requires careful planning, attention, and solid commitment. A home is more than just a house, after all—it requires maintenance and love, especially if you want to live in its spaces for a long time.

3 Steps Towards Your Dream Home

Your dream home may perhaps remain as one of your biggest purchases, and getting it right is paramount. Various factors will come into play, and as you prepare, here are three simple steps you must take to ensure success:

  1. Decide if you’re truly ready to buy your dream home. The first and most crucial step to homeownership is identifying if you’re truly ready for the commitment. The process includes more than just paying for the structure. Home repairs and renovations will happen, and utility costs are also part of the equation. You will also be required to pay for taxes and house insurance policies, along with personal expenses. These costs add up quickly, and if you buy a home without ensuring financial security, you risk losing everything. How do you ensure that you arrive at a financially healthy life? It’s quite simple, but the process can be challenging to get out of or reduce your debt. Consider saving up for an emergency fund, too, as this will help you feel more secure as you settle into a new life. Paying off debt and saving up will take time, so it’s best to simply wait until you’re financially ready to tackle home ownership.
  2. Identify the right mortgage for you. There are various types of mortgage options, so before you decide which one to pursue, it’s best to learn the benefits and drawbacks of each. Choosing the right type not only boosts your chances of approval, but it also saves you huge amounts of money in the long run. You also need to get a better understanding of your financial commitment, which can only be done by estimating your monthly mortgage payments, which should include additional costs and interest rates. To make sure that you arrive at well-informed decisions, ponder on the following questions: Do you need a government-backed loan or a conventional one? (FHA, VA, or USDA) Do you need a fixed-rate loan or an ARM? Do you want to take out a long of 10, 15, 20, or 30 years? What is your estimated monthly mortgage payment?
  3. Save up for a down payment. Although mortgage payments exist to help ease the burden of expensive home prices, a significant amount of down payment can further help you reduce costs. If you put down less than 20% of the total home cost, for instance, you will end up paying more in the long run. While a 20% down payment may seem like a lot, it increases your chances of homeownership by tenfold. It’s best to wait and save up, but there are creative financing options available out there. However, you must proceed with caution. Remember that you need to build wealth with your home purchase, as it’s an investment like no other. Any wrong move could send you into a financial spiral, one that will leave you with no house and no financial stability.

Shannon Christenot for Los Angeles Home Loans

From everything discussed, homeownership is a process that requires careful planning and consideration. As a huge investment, you need to study your finances well and use your resources wisely. Learning how the entire process unfolds is one of the most important things you can do before purchasing your dream home, especially when it comes to achieving financial stability. It also pays to ask for help, and mortgage specialists are the best people to call.

If you’re on the hunt for the best mortgage company in Los Angeles, look no further. Shannon Christenot can help, who is a professional and a licensed mortgage broker. With over 20 years of industry knowledge and passion for the industry, rest assured you’ll be in good hands. For more information, contact her at (818) 601-2231.

Filed Under: Buy A Home Tagged With: California, Home buying tips, Los Angeles

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I cannot recommend Shannon highly enough! As an independent contractor, I knew getting a mortgage would be a little difficult, and Shannon supported me and helped make it work every step of the way. If I ever need brokerage services again, she'll be my first call!read more
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We’ve worked with Shannon and her team twice and both experiences were stellar. The first was buying our first home and she walked us through the process and explained everything along the way to help us get quickly up to speed. The second time we were going for a refi in maybe the most turbulent mortgage market ever as COVID hit. She guided us through all the hurdles and worked double time to satisfy all the lenders new requests. We got a rate a full percent lower. I can’t recommend this team highly enough.read more
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Shannon Christenot is the most amazing lender we’ve ever had. As a matter of fact this is the second time we’ve used Shannon to do a mortgage with us. She held our hand every step of the way. She made the whole process stress-free as well. And when we were coming down to the wire to finish our escrow within the 30 days she got us an extension Without even asking. Now we are locked into a very low rate. We’ve saved hundreds of dollars per month for the next 30 years. We cannot Thank Shannon enough. I would recommend Shanon to anyone thinking of buying a home or refinancing.read more
Tony Bilby
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Shannon and her team were professional, competent, and swift when it came to the lending associated with my home purchase. We were able to get the loan approved and close on a house in less than 30 days. Record time!read more
Joshua Barton
Joshua Barton
16:05 23 Nov 19
I have had the pleasure of working with Shannon for 8 years - her knowledge of the mortgage process and attention to clients is unparalleled. The Los Angeles market can be tricky with high dollar homes and unique income of the Entertainment Industry, but Shannon takes charge and leads everyone through to successful closings like clock work - cannot recommend her enough a true Rock Star in Mortgage world.read more
Lauren S
Lauren S
04:52 18 Oct 19
Working with Shannon was a real pleasure. She was always available and got back to me promptly with any necessary information. I was able to refinance my mortgage at a rate considerably lower than another larger company quoted who I had started working with. I look forward to working with Shannon again and I highly recommend her to anyone looking for a competent and decent mortgage broker.read more
Mike White
Mike White
02:15 27 Sep 19
As first time home buyers we had no idea what we were doing. We were pre-approved by a well known company but quickly discovered that we absolutely did not want to work with them for the actual mortgage. Shannon was recommended to us by a friend and I called on a Saturday morning. By Saturday evening we were well on our way to buying a house (we closed three days ago!). Shannon made navigating these foreign waters so easy, answering all of our newbie questions with patience and grace. Plus she got us a fantastic rate. We are so grateful for Shannon and can not recommend her enough. WE OWN A HOME!!read more
Alaine Smith
Alaine Smith
13:15 26 Sep 19
It was wonderful working with Shannon! She is attentive, thorough, and intelligent. It was easy to communicate with her because she took time to hear and understand my goals and always responded quickly. I highly recommend her to anyone looking. The customer service she provides exceeds expectations by a long shot! Thank you, Shannon, for all your help!read more
Julie Mckay
Julie Mckay
17:20 28 Aug 19
I just purchased my first home! Shannon and her team were truly a dream to work with. I was never left in the dark and she was always quick to respond with all of my questions. My experience couldn't have been easier. I highly recommend Shannon and would use her again in a heartbeat! She is the BEST!read more
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jojo quijada
19:55 27 Aug 19
I've been in the real estate business for over 5 years now, and I always trust Shannon to work with my clients. She and Josh are an AMAZING TEAM! Buyers love to work with Shannon as she gets things done asap and answer any and every question/concern. I couldn't recommend a better person for lending. Can't thank her enough!!read more
Rotimi Ayanbeku
Rotimi Ayanbeku
20:12 15 Aug 19
I always go back to Shannon because she is one of the best in the business! I've worked with Shannon over the years, however, she outdid herself in my last deal. She was so professional, caring and effective that my clients were comparing everyone else in the deal to Shannon. More importantly, we were ready to fund in less than two weeks. Once again, Shannon affirmed my belief in her that she always rises to the occasion. Thank you for being the best!read more
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