Empower Capital Group
708 College Ave
Santa Rosa, CA 95404
Frequently Asked Questions
What is the first step for buying a home?
We work one on one with buyers to figure out the best way to achieve their goals. The first step is getting pre-approved by one of our trusted loan officers. We will send you a list of items we need to get the approval process started.
Once you are pre-approved, we will refer you to a real estate agent to begin showing you properties!
Should I sell my home before buying a new one?
It is not necessary to sell your home before buying, but we will need to come up with a plan so that we know exactly what your goals are. Whether this be investing in rental properties or moving into a larger home.
Should I refinance?
We will review your current situation and figure out the best way to reach your goals. Whether that is getting you into a fixed rate, because you are in an adjustable, or taking cash out to consolidate debts. We will sit down and review all options to insure you are doing what is financially right for you.
What kind of documentation does it entail?
The documentation varies from person to person, but generally entails – paystubs covering the most recent 30 days, W2’s for the past 2 years, business tax returns, bank statements (including all investments) and any mortgage information for homes you may currently own.
Can I refinance with bad credit?
We know that every situation is different. You do not need perfect credit to buy or refinance. The best way to find this out is to connect with one of our trusted loan officers to determine if you qualify.
How long is the financing process?
Most refinance transactions could take up to 21 to 30 days based on the complexity of the loan. If escrow is longer that this, we will also work at the pace needed.
What are home loan rates?
Home loan rates vary daily and depend on many different factors. We are happy to help assist you with mortgage financing options. Contact one of our executives, and link over to our about us page.
How much can you comfortably afford?
Once you are pre-approved for a home loan, we can help you determine what payments you can comfortably afford. This basic calculator will also allow you to see what your payments may be once you plugged in the details.
What are the steps to purchasing a home?
STEP 2 - MEET WITH OUR TRUSTED REAL ESTATE PROFESSIONALS: Get all the details on they type of home you are looking for and get a list of homes to view.
STEP 3 - VIEW PROPERTIES: Go out with one our Real Estate staff and see properties that meet your criteria.
STEP 4 - MAKE AN OFFER: Our real estate team will assist in determining the offer price and assist with all documentation.
STEP 5 - HOME NEGOTIATIONS: Our team will aggressively negotiate with the listing agent so that your real estate needs are met with confidence.
STEP 6 - IN ESCROW: Once your offer has been accepted we open the escrow account so that you can pay the initial deposit. We will guide you through the process until the home is yours including property inspections and disclosure reviews. This is where the loan process starts. If your are obtaining a loan for the purchase of the property your loan officer will now gather any remaining documents needed from you to submit your loan file to the banks underwriter for review. The appraisal for the property is also ordered at this time if it is a requirement of the loan.
STEP 7 - LOAN APPROVAL: Once the appraisal is complete and your documents are reviewed by the underwriter your loan moves to a conditional approval status. We may ask you to satisfy those last conditions and discuss rate options if you are ready to lock the rate on your loan.
STEP 8 - LOAN DOCUMENTS & CLOSING: When loan conditions are complete we can order your final loan documents and set a date for signing. At that point the seller signs their selling documents, buyer signs their purchase and loan documents and within days the house is yours.
STEP 9 - THE MOST IMPORTANT STEP: The buyer gets their keys, pops a bottle of champagne and lives happy ever after
STEP 10 - AFTER CARE: Your Loan officer and Real estate agent will communicate over the following couple weeks to make sure that any questions that come up post close are answered. They make it a point to regularly follow up with clients well into the future in order to educate them on changing market conditions and ensure they are always in the best possible situation.