Before & After: Brightening a Malibu Beach House

By Erinn Valencich

This Malibu home had all the trappings of a run-of-the-mill builder’s special. And with its cold tile floors and pedestrian color palette, it felt more like a vacation rental than a welcoming beach house.

Before: Cold tiles and a dull color palette failed to make the most of the home’s charm.

The owners, who had previously lived in New York, wanted their home to reflect an elegant, easygoing Malibu lifestyle, which meant that a floor-to-ceiling overhaul was in order.

The first step was to address the floors. With three young boys and two Great Danes, the homeowners needed flooring that would really perform. The outdated limestone tile was replaced with a laminate flooring that not only looks beautiful, but also is scratch-resistant, making it an ideal option for families with children. And in addition to being more cost-effective than other options, laminate flooring can be installed right on top of tile floors and other surfaces, saving both time and money.

Scratch-resistant laminate flooring adds warmth, while also being practical for the busy family.

The original tile floors felt cold and hard, but the wood tones in this new laminate flooring warm up the space and give it the beachy, sophisticated feel the owners were looking for.

While the overall color palette is made up of bright whites, soft creams, and pale neutrals, darker hues were selected for upholstery fabrics to make the furniture more kid-friendly and to add some depth to the overall design scheme.

Layering warm, darker-toned furniture against a bright white and neutral backdrop adds depth in the living room.

Because the ceilings in this home are of average height, existing living room cabinetry was pushed upward to visually heighten the room.

Beachy, seaside-inspired hues continue throughout the home. In the kitchen, stretching the backsplash tiles up to the ceiling made a world of difference, and gave the space a truly designer feel.

Deep blue backsplash tiles add drama and bring in the colors of the sea.

The master bedroom, which was once dark and dull, now feels sophisticated and light, thanks to rich, textured wallpaper, modern bedside tables, and white accent pieces.

The tranquil master bedroom offers the perfect place to unwind after a busy day.

See more home design inspiration.

Photos courtesy of August Dering.

Related:

• Beach Decor for Every Home
• The Colors of Summer: Mixing Cool and Warm Tones
• Inside a Beachy Apartment on Brooklyn’s Waterfront

For more on celebrity designer Erinn Valencich and Erinn V furniture collections, visit www.ErinnV.com. Follow Erinn on Twitter:@ErinnVstyle and on Facebook.com/ErinnVstyle.

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Do's and Don'ts of Online Vacation Rental Sites

While short-term home rental sites such as Airbnb and HomeAway have made finding and listing vacation properties and alternative lodging fast, easy and convenient both for hosts and guests, there are risks involved for both parties.

Here are a few ways to mitigate those risks, whether you’re renting a vacation villa or making some extra cash by welcoming paying guests into your home.

DO: Use reputable sites

Reputable sites not only supply the largest number of rental offerings, but will additionally provide you with some peace of mind because they offer basic security features. Beyond conducting background and address checks, these sites also certify hosts with a proven track record, host community discussions, post uncensored reviews and ban questionable parties.

As a guest, all you have to go on are photos (which may not be verified) and reviews. If a place does not have more than three positive reviews, think twice about staying there.

DO: Have a conversation

In most cases, conversations between hosts and guests happen through the vacation rental website’s messaging system, but if having a phone conversation is an option, go for it. It’s a great way to size each other up, and is extremely important if you’re doing a home swap, as these exchanges require an enormous amount of trust from both parties.

During the call, note whether the host sounds legitimate and the house they describe matches what’s online. If you’re talking to a potential guest, consider whether they ask questions a visitor would typically have.

Also pay attention to the types of answers you’re getting. For example, if you’re a guest and you want to know whether the host has the legal right to rent the apartment to you, listen carefully to their answer. If they seem to be hedging at all, or even seem to be offended by the line of questioning, consider looking elsewhere.

If everything feels “right,” however, go ahead with the transaction, keeping in mind that while it’s still possible to be scammed over the phone, it’s usually easier to fool someone when the communication takes place online.

DON’T: Pay with cash or money order

Out of all the payment options, credit cards offer the most protection against fraud or wrongful charges. Online money transfer services like PayPal may also be an option, and can be a good way to go. A personal check may also be fine.

But never pay with cash or money order (like Western Union or MoneyGram), since they are the easiest means for the unscrupulous to disappear with your money. Is the host insisting on this type of payment? Rushing you to make a wire transfer? Don’t go there.

If cash is required for a cleaning fee or damage deposit, guests should play it safe by postponing this last round of payments until they reach their destination. And get a receipt for the sum rendered.

DO: Prepare for disputes

Many problems can and do arise. Guests may not show up. Properties may be misrepresented, unsanitary, already occupied, or full of safety hazards like exposed wiring or loose stairs.

Protection policies may not exist, and if they don’t, or if they’re minimal, you might very well be on your own if something doesn’t work out. There is no government or trade agency regulating the advertising of rentals, so proceed with caution.

Related:

• A Guided Tour of Summer Vacation Insurance
• Your 3-Phase Plan for a Stress-Free Vacation
• 5 Steps for Buying a Vacation Home

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Smart Watering Tips for Every Gardener

Tired of watering all the time, while praying for rain and smaller water bills? If your garden is planned, prepared, planted and watered properly, you can have a beautiful yard and save thousands in the long run. Here’s how to get the most from your water this summer.

Start from the ground up

Plan your preemptive strike against drought. Get to know your yard, and note which areas tend to dry out quickly or develop puddles after it rains. Places that are especially prone to drying out include the soil under large and thirsty trees, or under the eaves of your roof.

Your soil type plays a big part in how often you’ll need to water. Loose, sandy soil holds very little moisture, so much of the water you dump on it slips away and goes to waste.

Treat runoff as if it’s money — don’t let it slip through your fingers.

The soil you’re after is the rich, dark crumbly stuff called loam. Adding topsoil (good), composted manure (better) or compost (best) to your soil makes it loamy and performs some pretty amazing feats. It encourages beneficial organisms, improves the soil structure and texture, aerates the soil and helps it retain moisture.

If your garden is too big to amend with better dirt, consider growing vegetables in a raised bed, where you can easily focus your watering efforts and amend the soil without breaking the bank.

Choose the right plants

When it comes right down to it, you have to look at your water bill and ask yourself: Is that tomato vine really worth the absurd amount of money you spend each month?

If growing your own food is what motivates you to shell out for those big bills, consider raising cowpeas, hot peppers, okra or other edibles that require less water. Choose drought-tolerant plants whenever possible, unless you’re planting in a space that rarely dries out.

Texas sage is just one of the many plants that thrives without irrigation.

If you simply have to grow thirsty plants, group them together so you can easily water them without wasting a drop. You might even choose to submerge a perforated pond liner so water has a better chance to collect.

Native plants are often, but not always, good choices for a drought-tolerant landscape since they’re well adapted to the unique conditions of your region. Succulents and cacti are well equipped to handle drought because they store moisture in their leaves and stems.

If you have a lawn that requires regular irrigation, save money by replacing it with a mass of groundcovers like wooly thyme or liriope.

Prepare plants for drought

When properly planted and cared for, plants can get by with a lot less water. Let’s say you planted a tomato plant too high in the soil, giving it a weaker foothold and fewer roots to absorb water. That plant might then become susceptible to pathogens like bacterial wilt or root knot nematodes, and would wilt every afternoon as if dying of thirst.

You might then water it more often, but at that point all the irrigation in the world couldn’t save it. Meanwhile, you’re overwatering the adjacent plants in your vegetable garden and opening them up to the possibility of disease.

Sometimes plants only appear thirsty. This tomato could be infected by a wilt disease or nematodes.

Fertilize your plants, but only according to label instructions. Synthetic fertilizers are fast-acting, but don’t actually improve upon the soil itself. Using too much synthetic fertilizer can burn the plants and damage the soil, causing irreparable damage. Organic fertilizers, on the other hand, rarely burn plants, and enrich the soil itself over time.

Water slowly, deeply and infrequently

There’s a good chance that you water your lawn or garden a lot more than is really necessary. Grass generally only needs one or two inches of rain a week to do well — and even less if it is a vigorous variety that has been planted on good soil.

If you water plants or turfgrasses too often, they become at risk for bacterial and fungal infections. This also encourages plants to develop shallow roots; meaning that they are more easily uprooted in storms, and they can’t take advantage of the moisture deeper underground in the event of a drought.

The upper layer of soil also dries out more quickly, effectively wasting water. The trick is to irrigate slowly, deeply, infrequently and only where it’s needed. Instead of watering a little every day, water once a week for long enough that the water can really soak in.

Slow down the runoff

Watering slowly is a big part of the solution, but you can take it a step further and slow the rainwater itself. Your goal is to take advantage of as much water as possible before it sinks or drains away.

If it’s legal in your area, install rain barrels that collect water from your roof, and save it for a not-so-rainy day. If you see a lot of runoff washing off your driveway into the gutter, replace the slab of concrete with permeable pavers that allow water to sink into your soil.

You can also divert the runoff to a rain garden — that is, a man-made or natural depression in your yard with plants that tolerate both drought and flooding.

Rain gardens collect, absorb and filter runoff.

Create ‘dry creek beds’ that carry runoff from your downspout to the rain garden by digging a small ditch and lining it with gravel and rocks. Sometimes the most practical solutions are the most elegant.

When to water

Water once a week — unless, of course, that’s not enough. Don’t bother watering plants if they’re not complaining, but do water plants that tend to wilt during a dry spell. If you’re able, transplant these thirsty plants to a part of the garden that you can water all at once without wasting a drop, or consider replacing them altogether.

Keep in mind that new plantings will always need more water than established ones, and watering them deeply will help them resist drought in the long run. Some turfgrasses, such as Bermuda, zoysia and St. Augustine, go brown and dormant in drought but quickly return when rainfall resumes.

The best time to water the lawn and garden is in the morning, ideally when it’s overcast. If you water in the heat of a summer afternoon, much of that water evaporates before it can be absorbed. You can water in the late afternoon since the sun is no longer as strong, but don’t water in the evening.

If water collects on foliage overnight, it is a prime location for bacterial and fungal diseases to develop. If you must irrigate at night, soak the soil rather than the plant itself.

And here’s one last consideration: Check the forecast and Doppler radar to make sure a downpour isn’t about to do the job for you.

Related:

• Edible Landscaping: Ornamental Plants You Can Eat
• Landscaping Cheat Sheet: 4 Smart Timesavers for Your Yard and Garden
• Choosing the Best Annuals for Your Garden

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House of the Week: California Villa With NFL Pedigree & a Car Museum

NFL Commissioner Pete Rozelle, widely credited with building U.S. football into the powerhouse it is today, had just retired when he built this mansion in the hills of southern California.

Weight-loss guru Jenny Craig bought it from Rozelle and added her own touches, including a car museum that holds 11 vehicles. More luxurious than many homes, it features tile floors, silk fabric walls, and lighting and sound systems.

The home’s next owners made extensive renovations, including revamping the kitchen, adding a morning room and replacing the home’s fireplaces with limestone ones from a chateau in the Loire Valley of France.

But that’s not even the best part, according to Catherine and Jason Barry of Barry Estates, who are agents for the $14.995 million listing. They love that Gene Klein, former owner of the San Diego Chargers, guided Rozelle to the area, which sits above a horse farm Klein owned at the time.

The horse farm then went to Craig, who sold it to Bill Gates last year for $18 million.

“Gene was a big character, and Pete was friends with him and chose this site, which is ideal for privacy and views and usability,” Jason Barry said.

The 5-bedroom, 5.5-bath home exudes Old World opulence, from 17th-century limestone floors to a 12th-century Gothic fireplace in the outdoor entertaining space. Its 10,394 square feet encompass Italian fixtures from the 19th century as well as Spanish doors and hand-hewn oak and chestnut beams from the 18th century.

The kitchen boasts a pizza oven and a center island covered with Calcutta gold marble, and sits adjacent to a conservatory and near a 1,000-bottle wine cellar. There are two offices, an elevator and a four-car garage in addition to the car museum.

Entertainment choices include a movie room, resort-style pool and spa, a 1,500-square-foot pool pavilion, a game room, gym and a tennis court.

Views are abundant — particularly from the home’s living room, study and master suite — capturing the surrounding mountains and the ocean.

Related:

• A Family-Fun Compound in California
• Mega-Mansion Built By Casino & Resort Architects
• Opulent Home From Ed Sheeran Video

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Before & After: Cottage Curb Appeal Makeover

When a South Carolina couple moved into their new little cottage, it was in desperate need of some TLC.

With very little budget, the couple put their DIY skills to the test and focused on a few key updates that would go a long way.

First, they updated the home’s awkward window placement. They removed the window to the right of the front entry, and added a window in the large expanse on the left. This was the biggest part of the renovation, and it greatly boosted the home’s curb appeal.

The next step was making simple barn shutters from three planks side-by-side and a trim piece connecting them at the top and bottom. Painted bright blue, the shutters liven up the white siding.

Next, the couple set out to update the entry. They removed gutters and replaced iron posts with thicker wooden posts.

Replacing the old screen door with a paned wooden door created a more welcoming approach, and adding trim to the portico completed the entry’s transformation. Painting the posts white was a risky move with the white siding, but it allows the new wooden door to pop and serve as a focal point.

Finally, decorative touches like painting the beaded board ceiling blue and bringing in a copper lantern added some much needed personality without breaking the bank.

See more home exterior design ideas.

Photos by The White Buffalo Styling Co. 

Related:

• 5 Home Updates for $10,000 or Less
• How to Budget for Home Renovations
• 5 Repairs You Might Encounter During the First 5 Years of Owning a Home

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'The Big Bang Theory' Star Johnny Galecki Buys Jason Statham's LA Compound

Keeping this Los Angeles villa in the celebrity family, actor Johnny Galecki has scooped up the compound for $9.2 million. He bought it from action star Jason Statham, who several years ago took it off Ben Stiller’s hands, as first reported by Variety.

Built in 1929, the 6-bedroom, 6-bath estate exudes flapper-era glamour, from its wood-paneled home theater to the brilliantly colored Spanish tiles on its outdoor stairs, fountain and fireplace. The opulent interior combines elegantly designed rooms and windows with dark wood-beamed ceilings and period fixtures.

Statham’s listing, by Ben Bacal of Rodeo Realty, came after he and girlfriend Rosie Huntington-Whiteley bought a mansion in Beverly Hills. They were asking $8.999 million for the vintage villa.

Sitcom star Galecki bought his last home, above the Sunset Strip, from actor Patrick Dempsey back in 2001, Variety reports.

Related:

• Jason Statham Spies a Home in the Hollywood Hills
• Pretty Little Listing From TV’s Ian Harding
• They’re Just Like Us: Emmy Nominees Buying, Listing & Renting Homes

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Mike Huckabee Drops the Price on His Little Rock Listing

If Mike Huckabee’s luck is anything like Donald Trump’s, the latest price cut on his Arkansas home will do the trick.

Both have been trying to unload homes for two years. Trump’s penthouse in Manhattan finally went for $21 million after he dropped the price earlier this month.

Huckabee’s home outside Little Rock has a new price, too: $674,900. He paid $525,000 for the home in 2006, and first listed it in 2013, after reportedly building a $3-million mansion in Florida. The Arkansas listing has been off and on the market since then, starting at $850,000.

The home has 5 bedrooms, 6 bathrooms and measures 6,473 square feet. The updated master bath features a walk-in, multiple-head shower plus two large closets.

A park-like yard backs up to a creek and boasts a deck, covered patio and saltwater pool.

The listing agents are Kathe and Randy Sumbles of Keller Williams.

Related:

• ‘Scandal’ Star Tony Goldwyn (aka President Fitz) Lands NYC Apartment
• Now Half Off: Bob Hope’s Longtime Mansion in California
• Former Lehman Brothers CEO Auctioning Idaho Estate

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High Rent Can Cause Cavities

An apple a day keeps the doctor away. And, according to a new Zillow analysis, so does high rent.

The study found a large percentage of individuals who carry a “high rent burden,” meaning he or she spends more than 30 percent of their income on housing, are skimping on health care — everything from dental care to prescription drugs — in order to afford rent.

In the past year, 40 percent of survey respondents said they skimped on dental care. And 25 percent skipped doctor’s visits.

The analysis of Federal Reserve Board data also shows those who have the highest rents as a percentage of their incomes are also foregoing saving for retirement, and they are not putting money away to cover a financial emergency.

Shareen Shelton, a 25-year-old who works in finance at a tech company, said having roommates has been her single most effective solution for coping with Boston rents.

But soon she’ll be leaving her mates behind and moving to a studio closer to work. Her rent is going to go up significantly — she’ll be paying a third of her income toward rent in the fall.

“Until my rent increases, I’m squeezing in every dentist and doctor appointment, and I’ll be eating ramen in September,” Shelton said. She plans to cook at home more since she’ll be spending the extra disposable income on rent.

Renters in San Francisco are facing even higher burdens. A renter there spends about 45.6 percent of their income on rent each month.

Andrew Hair, a 30-year-old programmer for a video game company in San Francisco, said he can’t compromise health care in spite of high rent. His dreams of homeownership will have to be delayed.

“I’m a type 1 diabetic, and am constantly spending money on insulin and other things,” Hair said. “I am on top of my health. I go to the doctor, but I budget that. It makes me think if something were to happen, I need to be prepared for that. It’s always in the back of my mind.”

Hair spends about 42 percent of his income on rent alone, according to his calculations. And in the four years he’s been in the Bay area, his rent has increased between $150 to $200 each year.

“As I get older, I need to prioritize my living situation,” he said. “Right now, I’m not saving for a house. I’m barely saving at all. It’s really hard to save for retirement. I have an emergency fund that would keep me afloat for a while. But retirement, a down payment on a car or a house — it’s unrealistic to me. I’m not going to be able to afford a house here any time soon, but I love my job so much, I’m not looking to move anytime soon.”

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.

Related:

• High Rents Affecting Emergency Savings, Retirement, Down Payments
• $2,000 Rentals With Spectacular Amenities
• 5 Places Where Rising Rents Are Deepening the Rental Crisis

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How Much Home Can You Buy for $100,000?

The term “a growing family” carries a multitude of meanings these days — maybe it’s having a baby, adopting a child, combining families, taking in a relative, or tacking on a few furry friends.

Adding to your household can be a financial stress, but it doesn’t have to be. More family should equal more love, not more headaches.

Whether you’re moving from an apartment to a tiny single-family home, or from a 3-bedroom to a 4-bedroom, we’ve got you covered. Check out the following 10 listings, all located in metropolitan areas across the country and priced at approximately $100,000.

Chattanooga, TN

633 N Moore Rd, Chattanooga, TN
For sale: $93,700

Numerous updates throughout and a sprawling, private backyard give this 3-bedroom, 2-bathroom home a winning combination.

See more homes listed in Chattanooga.

Houston, TX

7101 Wendemere St, Houston, TX
For sale: $95,750

Located in a private and quiet neighborhood, this bright 3-bedroom, 1-bathroom bungalow will make you feel as though you’ve been transported to a secret island destination.

See more Houston homes for sale.

Saint Paul, MN

959 3rd St E, Saint Paul, MN
For sale: $94,900

Built in 1884 and boasting modern updates, this 2-bedroom, 1-bathroom home seamlessly meshes old world charm and new world convenience.

See more homes listed in Saint Paul.

Lexington, KY

1030 Carneal Rd, Lexington, KY
For sale: $90,000

Reminiscent of a Hamptons cottage, this 4-bedroom, 1-bathroom Cape Cod style home is appealing throughout, with loads of natural light and a simple color scheme.

See more Lexington homes for sale.

Tulsa, OK

13049 E 28th Pl, Tulsa, OK
For sale: $99,500

This floral-inspired 3-bedroom, 2.5-bathroom home has major curb appeal, with a curbside garden leading the way.

See more homes for sale in Tulsa.

Cincinnati, OH

4604 N Edgewood Ave, Cincinnati, OH
For sale: $90,000

Graced with the quintessential white picket fence, this beautifully remodeled, 3-bedroom, 2-bathroom home features new flooring, and a complete remodel of the kitchen and two full baths.

See more homes for sale in Cincinnati.

Omaha, NE

4215 Franklin St, Omaha, NE
For sale: $90,000

Those who are seeking a playfully different home façade will enjoy this 4-bedroom, 1.5-bathroom home, with equally attractive interior details.

See more Omaha homes for sale.

Jacksonville, FL

1432 N Pearl St, Jacksonville, FL
For sale: $95,000

Built in a Miami-esque style, this 3-bedroom, 2-bathroom Art Deco home has been renovated throughout, with a graceful rounded main doorway to welcome guests.

See more homes listed in Jacksonville.

Spokane, WA

1139 W Sunny Creek Cir, Spokane, WA
For sale: $87,500

Surrounded by nature in a gated community, this 3-bedroom, 2-bath home offers comfort indoors and tranquility in its backyard, complete with an oversized deck and views of the creek.

See more homes for sale in Spokane.

Milwaukee, WI

2804 N Grant Blvd, Milwaukee, WI
For sale: $89,900

Totaling at 1,986 square feet, this 4-bedroom, 1-bathroom home is incredibly spacious, while also offering up vintage details, such as hardwood floors and original plaster walls.

See more homes for sale in Milwaukee.

Related:

• Craving a Summer Cottage? See 10 Gorgeous Cape Cods for Sale
• $200,000 Homes with Priceless Curb Appeal
• Living Large in Small Spaces: 10 Homes for Sale Under 500 Square Feet

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Donald Trump Unloads NYC Penthouse He Never Lived In

When he’s not stumping for the Republican presidential nomination or making decrees on “The Celebrity Apprentice,” Donald Trump still works in real estate — and he just made a killing on a Manhattan penthouse.

Trump sold the nearly 6,200-square-foot apartment on the 24th floor of his 32-story Trump Park Avenue tower for $21 million, The Wall Street Journal reports. He listed it in 2013 for $35 million and cut the price twice, settling on $24.995 million earlier this month.

Trump never lived there, listing agent Michelle Griffith of Trump International Realty told the Journal. She also said Trump rejected an offer to rent the place for $80,000 a month.

A private elevator leads to the 5-bedroom, 7.5-bath space, which boasts high ceilings and lots of windows. Luxurious details include Italian brass doorknobs, custom moldings and a kitchen with marble floors and counter tops.

The master suite features two bathrooms, two walk-in closets and a study.

Related:

• Donald Trump’s Former Estate Available for $54M
• ‘Scandal’ Star Tony Goldwyn (aka President Fitz) Lands NYC Apartment
• UPDATE: Joan Rivers’ Penthouse Reportedly Gets $28M Asking Price

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The Home Buyers' Guide to Getting a Mortgage

Buying a home can feel overwhelming, and a lot of that uneasiness can come from not understanding how to get a mortgage. This guide — which includes 20 questions to ask lenders — should help clarify the mortgage process and get you on the road to homeownership.

Determine your affordability

Before you start working with a real estate agent, it’s important to understand how much home you can afford. This will help you and your agent target your search, and you’ll avoid the heartache of falling in love with a property that’s out of your reach.

You can determine affordability in seconds using two different mortgage calculators. First use an affordability calculator to determine a purchase price appropriate for your income and down payment; then use a payment calculator to determine your exact monthly obligations.

Get started on your mortgage process

Next, you’ll actually connect with a lender to apply for a loan, and the lender will review all of your qualifying documentation. A loan officer will ask you to provide the items below — verbally or in an online form first, then with full documentation:

• Personal information. Date of birth, marital status, number of children and ages.
• Residence history. Rent payment or all mortgage, insurance and tax figures — for at least the past two years.
• Employment and income. Documentation showing wages and employment history for at least two years. If you receive commissions or bonuses, you’ll need two years of figures. Lenders average variable and self-employed income over two years. Full tax returns for two years are usually required.
• Asset balances. All checking, savings, investment and retirement accounts. You must provide all information for accounts, even if you’re only using one account for the down payment (you lender will need to see a paper trail for large deposits and withdrawals). If you’re using gift funds for your down payment, specific rules apply.
• Debt payments and balances. Credit cards, mortgages, student loans, car loans, alimony and child support.
• Social Security number. For a credit report to confirm your debts and credit scores.

Select down payment and loan type

Once your lender has your full profile, he or she can recommend loan structures based on your situation.

Perhaps your income is strong, but you’re early in your career and haven’t saved up that much money. In this case, your lender might recommend a 10-percent down payment because the slightly higher payments fit your budget and enable you to conserve cash.

Or you might start the process thinking you want to buy a 1-bedroom condo using a 5-year adjustable-rate mortgage because you think you’re going to sell the home and upgrade within five years. But your lender may look at your income and consider that you want to start a family within three years, then determine that you can afford the monthly budget and cash to close on a 3-bedroom single family home using a 30-year fixed loan.

It’s important to match your loan terms and home buying choices with your objectives. Because lenders require your full financial profile, they are in a good position to help you explore and fine-tune your objectives to make sure you select the loan type that fits you best.

Find an agent and start home shopping

After you’ve begun the mortgage process, you’re ready to find a local real estate agent and begin your home search.

Introduce your lender to your agent, and ask your lender to brief your agent on your mortgage process. This will verify your target home price and down payment for your agent and show that you’re ready to close as soon as you find a home.

Write offers, lock your rate and finalize your loan

Once you find a home you love, you’ll write an offer. Your agent will present your offer to the seller, and if the seller accepts your offer, your loan process will move to the final approval phase.

Your lender will inform you that it’s time to lock your rate. A rate lock runs with a borrower and a property, so you can’t lock your rate until a seller has accepted your offer.

Then your lender will request any updated documentation needed from you, order an appraisal on the property and review the property title report.

Once all of these items check out, your lender will draw final loan documents with your desired rate and terms for you to sign. Your lender will fund the loan, and the home will be yours!

Related:

• What Are Comps? Understanding a Key Real Estate Tool
• How to Find Your Dream Home
• New Mortgage Disclosure Rules Arm Buyers With Information

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