Home Buyer Bootcamp Part 2 | Mortgage 101 where to start and what to expect

Where to Start

1st Get Qualified

Where do you stand, do you have reasonable expectations, does it make sense, does it fit your budget is your credit in  a good place. Do you have money for the down or should you just continue to rent. What makes sense for you and/or your family.

Apply to get Prequalified For a Mortgage

2nd Target sales Price

What’s your Desired payment and what’s your max payment?

3rd Target Area

Can you afford the area you want or do you need to find an area that meets your budget?  

How long does it take / What to expect

My take is it all depends on 2 factors but MOSTLY who is your Realtor and how “Realistic” are you.


A good agent will have you in escrow in 2-4 weeks max, max, max.  If you are unrealistic that agent will bring you back into reality so it might be closer to 4 weeks


I find when someone is unrealistic they just never pull the trigger.  They are usually scared, buying is a big big step and The key to bringing someone around to reality it via education and information.  TDR Mortgage is big on the education part of the process, hence this Video Series and all the other education along the way.

Rarely do I work with someone that doesn’t come around unless it’s just not practical, IE they work in Downtown LA but can only buy in Moreno Valley and they just can’t do a 2-3 hour commute each way.

How long does it take to close on a home?

A 30 day escrow is the most typical and in California usually 3 days is written into the contract for the sellers to move out after the Close

Important terms


  • Principal
  • Interest
  • Taxes (Property Taxes only)
  • Insurance  (Property Insurance only

Mortgage Insurance (MI)



Being in Escrow

Initial Loan Application / Disclosures

Loan Docs

Mortgage Broker

Mortgage Lender / Direct Lender

Call us to get more information on what you need to know to purchase a home 909-920-3500

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