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Buying Your Next Home   Get Pre-Qualified   

Getting a loan for your new home will be fast and easy!
At Watkins Home Loans, we will work with you every step of the way to provide you with the service and advice you need.

Below are some of the common questions Homebuyers have. Once you have answers to all your questions, click on the Get Pre-Qualified button to find out the best mortgage loan for you!

If you need help at any point, call us at: 858-452-7788.


Find ANSWERS to your QUESTIONS

I want to move up to a better home. What can I afford? Answer
How can I qualify for MORE home? Answer
What is a free pre-qualification letter? Answer
I'm buying a second home. Is it a different process? Answer
What about my less-than-perfect credit? Answer
Will I need an appraisal on my new home? Answer
Do I have to pay private mortgage insurance (PMI)? Answer
What if I don't sell my current house? Answer



I want to move up to a better home. What can I afford?
Each buyer is unique - and we'll help you find out just what you can afford. You already know that monthly income and financial obligations are most important in determining your price range. It's simple to make an estimate: just complete the pre-qualification form and we'll have several options for you shortly!
 
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How can I qualify for MORE home?
With a Flex-Pay loan, homebuyers choose their monthly payment and either qualify for more home, or have more cash in reserve for investment, paying down higher-cost debt, or making home improvements. For more information, click here.
 
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What is a free pre-qualification letter? 

A pre-qualification letter is a statement that you are qualified to service a specific amount of debt. It merely requires that you provide some general information about your income and debt levels. There is little or no confirmation of the information.

Saving time is a great advantage of being pre-qualified. Once you have a pre-qualification letter, you will know your price range and affordable mortgage payments. Then you can concentrate on finding the right home!

 
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I'm buying a second home.
Is it a different process?
No. Whether you need to be near the water or in the mountains, a vacation home offers an opportunity for fun and relaxation - and we make it just as easy to obtain a mortgage. But keep in mind you'll need to identify sources for your down payment, since you're not selling your current house and using the proceeds, and you'll need to expect a larger monthly obligation for housing expenses. We'll work with you to create a customized loan program with the best combination of rate, points, and closing costs for your needs - we call it our personalized rate because no two are alike!
 
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What about my
less-than-perfect credit?

Our special solutions program can help:

  • We offer loan options ideal for those who have a few "dings" on their credit report.
  • We try to work with every customer to develop an individual mortgage program - we call it your personalized rate, because no two are alike.
  • So we try to develop a custom program based on your credit worthiness
 
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Will I need an appraisal
on my new home?
Not necessarily. You may qualify for a more streamlined loan process. We can look at your credit history and consult our property assessment model to determine if we can complete your loan application without an appraisal.  
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Do I have to pay private mortgage insurance (PMI)? Our loan programs for down payments of 20% or less do not require you to purchase Private Mortgage Insurance (PMI).  Instead, we have a Low Down Payment Rate Adjustment that is added to the interest rate.  In most cases, it will cost less than PMI and, if you itemize deductions on your taxes, this may provide you with an additional tax deduction opportunity.  Please consult your tax advisor.  
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What if I don't sell my
current house?
You may qualify for a new loan without even selling your current home. We'll help you determine what might work for you. Just complete the short pre-qualification form and we'll get back with you shortly with your options!
 
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Get Pre-Qualified

 

 

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