Home Loans 101: An Interview with Tony Dinh

If you are planning to buy a home in most parts of the Bay Area, odds are you’ll need some type of mortgage.  In fact, for the majority of homebuyers, the mortgage is one of the most important and time-consuming pieces of the puzzle when buying a new home, if not THE most important.  Hence, it’s crucial to your success to do it right.

In today’s post, I summarize my talk with First Republic Bank Relationship Manager Tony Dinh about the home loan process and his best advice for new home buyers. Continue reading “Home Loans 101: An Interview with Tony Dinh”

The Importance of Getting Preapproved

Many first time homebuyers mistakenly believe that the first step to buying a home is to find the home they want to live in.  In reality, searching for a home should come only after two important things have been completed:  finding the right real estate agent and getting pre-approved.  Today’s post is about the second step — the all-important pre-approval. Continue reading “The Importance of Getting Preapproved”

Interest Rate vs. APR: What’s the Difference?

When shopping for a new home loan, it’s easy to feel overwhelmed by the terminology that lenders and realtors use to describe various aspects of lending:  PITI, conforming/non-conforming, jumbo, conventional/nonconventional, ARM…  I often tell clients, when in doubt, ask your lender to explain anything and everything to you.  There are no dumb questions in real estate (and in life).

However, a frequent question I come across is what is the difference between an interest rate and an APR (annual percentage rate)? The answer is rather straightforward. Continue reading “Interest Rate vs. APR: What’s the Difference?”