Los Angeles is a competitive housing market. Finding a good deal on a home can be a challenge, as can finding a mortgage with affordable interest rates and favorable terms. If you are still in search of the lowest Los Angeles mortgage rates, the tips below can help you out. 1. Do your research. The first mortgage rates you are quoted during your search probably will not be the … [Read more...]
What to Look for in a Hard Money Lender
If you are shopping for a hard money lender in Los Angeles, it pays to put some extra time and care into choosing a company you can trust with your lending needs. Hard money loans can be beneficial in a number of respects, but they do tend to carry higher interest rates and down payment requirements. Working with a trusted lender can help keep Los Angeles hard money loans affordable. 1. … [Read more...]
What Are the Pros and Cons of Bridge Loans in Los Angeles?
There may come a time when you find yourself in a transitional situation with housing. You could be in the process of selling your existing house, but you do not want to wait to put down money on your next home. If that should happen, you may find yourself short of the money you need to finance the down payment. For that purpose, you can consider taking out a short-term loan called a “bridge … [Read more...]
What First-Time Home Buyers Should Know in Los Angeles
The day you are handed the keys to your first home in the City of Angels will feel like a dream come true. But searching for your first home and shopping for the right mortgage can prove to be an involved process. Here are a few things you should know before you embark on your quest. 1. The housing market is very competitive right now. First, California is experiencing a housing crisis right … [Read more...]
What is a Mortgage Loan?
A mortgage requires you to pledge your home as the lender's security for the repayment of your loan. The lender agrees to hold the title to your property (or in some states, to hold a lien on your title) until you have paid back your loan plus interest. If you do not repay your mortgage loan, the lender has the right to take possession of your house and sell it in order to satisfy the mortgage … [Read more...]
Loan Process for Home Owners
1.Dream of a new home: Every couple or a working individual has dreams of owing their own home. Owning a home is indeed a key to long term financial security and independence. Buying a home is the single most important economic decision in one's life and one must be prudent and careful in selecting the appropriate mortgage lender. We offer unique and exceptional customer service with free loan … [Read more...]
Loan Process For Lenders
The Application: The key to the loan process. Using verifiable information you provide us, we work to obtain approval of your purchase loan. Ordering Documentation: We order a full credit report, verification of employment verification of funds to close, mortgage or landlord ratings, and any other necessary supporting documentation. If you have a property already identified then an appraisal … [Read more...]
Balloon Loan Program
A Balloon loan is a short-term mortgage that has almost similar features of a fixed rate mortgage. The loans provide a constant payment feature during the specific term of the loan, but as compare to the 30 year fixed rate mortgage, balloon loans do not fully amortize over the original term. Interest rate and payment stays the same until the loan is due. Characteristically, the entire loan amount … [Read more...]
Adjustable Interest Rate (ARM) Loan Program
7 year ARM, 5 year ARM, 3 year ARM, 1 year ARM, 7/1, 5/1, 3/1, 1/1 An adjustable rate mortgage (ARM) is a loan with an interest rate that can be adjusted at pre-set intervals. The amount of the adjustment depends on several factors outlined below. Some ARM loans have an initial period when the interest rate is fixed for a period of time 2,3,5,7,or 10 year. After the fixed period the loan converts … [Read more...]