Purchase Home Loans

For many of us, buying a home is the biggest financial decision we will make in our lifetime.

Whether you are a first home buyer, building a home, purchasing an investment property or a vacation home, we at Paramount Equity have the professionals, partners and programs to make your dreams a reality.

The First-Time Home Buyer Tax Credit has been extended until April 30th, 2010.  So now you have an additional five months to find your dream home .  Along with the extension, there is also a new option for homeowner who have been in their home for less than five years.  These home owners may qualify for a $6,500 tax credit.  Check with a Financial Specialist to learn more about what is available in your area.

Need a Realtor?

Steps to Purchasing a Home

1) Get pre-approved by Paramount Equity Mortgage and select a licensed realtor.

2) Contingency Period (including)

• Buyer’s approval of Seller’s Real Estate Transfer Disclosure Statement
• Buyer’s approval of Preliminary Title Report
• Physical inspections/pest inspections
• Property appraisal
• Loan placement/approval/underwriting

• Determine with Insurance Company proper coverage
• Determine if you need flood coverage
• Give insurance agent escrow information. (They will need to order a copy of the policy for the new lender prior to escrow close.)

• Documents will usually be signed at Paramount Equity Mortgage
• We will ensure the Title Company receives loan documents
• You will receive copies of Title documents and Lender documents
• You will need to bring a current photo ID to signing

• Bring a cashier’s check to the Title Company a few days prior to closing
• The Escrow Officer will provide a Buyer’s Estimated Closing Statement, which will itemize your costs and credits with estimate total monies due.

• The lender will send funds to the Title Company

• The Deed will be recorded at the County Recorder’s office by the Title Company. (You will receive the original back from the County Recorder in approximately six weeks.)
• Your Realtor will coordinate the transfer of the key with you!