California Mortgage Specialist Offers Experience

Looking for a California home loan mortgage solution specific to your area. We are a home mortgage Palmdale banker and can help you get a Quick approval and fast turn time.. Our experience and high volume allow you to select from various options when choosing your new home loan.

Experience Counts When Choosing your Mortgage Banker. Our 23 years of experience helping California homeowners get options in refinancing and purchase home loans is sure to help you when issues arise as they always do with most files.

Home Mortgage Palmdale

The secret to getting an Approved California home loan  is getting started early. If you are looking for a Purchase mortgage or looking to Refinance home loan, we can help. Our years of experience combined with the many Loan Programs we have access to is sure to help your efforts to a speedy Approval.

Getting a new home loan makes most fear the process as well as just the volume of documents needed. The process can be made much easier by just finding an experienced lender who can get you thru the process quickly.

It is important to always have options to choose from when it comes to a new mortgage. Maybe an FHA home loan Palmdale or a reverse mortgage Palmdale is best for you. If you are a Vet look into a VA home loan Palmdale. Mortgage rates Palmdale are low and lenders are backed up so expect some delays.

For EZ Online Mortgage Application, to our handy mortgage payment calculator, visit us at www. mortgageconsumer.com

FHA 1st Time Home buyer program!
FHA mortgage has a great program for 1st time Home buyers. FHA does not give loans. They are an Insurance agency that insures mortgage loans that Banks and others make to homebuyers. This gives new home buyers the opportunity to buy their dream home with a low down payment.An FHA home loan Valencia may be easier to get than you thought.

The 1st thing you want to do is use our user friendly staff to see how much of a home you can afford. Once you have a house budget based on your income, etc. you are ready to get pre-Qualified for a new mortgage loan. 

FHA Home Loan Valencia

 Usually use the FHA program because they can not afford the 20% down to go with a conventional mortgage. The FHA insurance does cost an upfront origination fee as well as a yearly fee added to the monthly mortgage payments. Qualifying for a FHA mortgage is not to difficult. The Federal Housing Administration only requires 3.5% down payments and because the loan is insured, FHA loans have low rates.

There are Alternatives to an FHA Home Loan

FHA loans have an origination fee of 1.75% and a yearly premium of 1.20+%. The yearly premium is for the life of the loan. In the past, the insurance premium would go away after the property had 20% equity. But new FHA regulations now have it there for the entire 30 years. The key to getting a FHA loan is having a credit score of 640 or more and a housing expense of not more than 30%.

If you can come up with 10% down or more, you should consider not getting the expensive FHA home loan. There are private mortgage insurance companies that a experienced Loan Officer can set you up with that are much less cost. Id you have questions about an FHA home loan, give us a call at Mortgage Consumer. Our FHA home loans specialist will be glad to help you.

The Home Loan Process

There’s feeling that getting a home loan mortgage Santa Clarita is a complex process. You wouldn’t be here on our website if it were possible to complete a one-page loan application and get an excellent loan funded the same day. We do the heavy lifting for you, so you can concentrate on what’s important — preparing to move into your new home or salving money.

Home Loan Mortgage Santa Clarita

Step one: determine how much you can borrow

This is a function of a couple things. What kind of monthly mortgage payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment amount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Exercise caution when you estimate what sort of mortgage payments you can afford. A mortgage is a very long-term financial proposition. Meeting your payment obligations will rely on how much money you will earn over a number of years. Keep in mind the possibility that your income may stay constant or even fall in the future, when you consider mortgage payments.

Step two: pre-qualify for your loan

This is where the process really begins and Mortgage Consumer can really save you money. You will provide details on your current job, assets, and residence history. You’ll provide your employment, asset, and residence history information. We pull your credit score and report. After we have gone over this info we provide a letter of pre-qualification. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you’re shopping for the home that’s right for you, we are looking for the best loan program for you.

Step three: apply for your loan

If you have lost a prior home to foreclosure, this does not mean that you are out of home owning altogether. You should be able to get a government-backed mortgage through Fannie Mae, Freddie Mac and the FHA, in as little as three years after your previous home has foreclosed.

Once you have made an offer and the sellers have accepted, you should complete the loan application. It’s very easy, and you can do it online, right here on our website. When the time is right, we will order an appraisal of your new home.

Step four: funding

Talk to different loan officers before you sign anything. Make sure to read over the lending contract very carefully to assure that you are not getting into a mortgage that has hidden charges, and that the terms of the loan are just as you and the lender had agreed to.

Your REALTOR® and the seller’s will work together to find an escrow/title company to take care of the funding of your loan. We’ll coordinate with this company to ensure the papers your lender needs are available, and you’ll probably}likely sign everything at this company’s officeWe work with with this company to set your date of closing. Since you won’t have to coordinate this process, you get to think about the move, if you’re going to repaint, new carpet, and the fun parts of getting a new home.

You’ve answered a few questions, provided detailed information, applied , and the next thing you know, you’re moving in! We do the legwork so you can spend your time finding the new home that’s right for you.

Have questions about the loan process? Call us  at 877-244-9190. It’s our job to answer home loan lending questions, so we’re happy to help!

Is it Time For You to Refinance your Home Loan?

Do you need a lower house payment or some cash out to pay off some other debts. ? When to refinance Santa Clarita home loans is the question most homeowners ask. It could be you are looking to lower the monthly mortgage payment but also maybe get some cash out to make home improvements or other. We can calculate if refinancing is advantages to you. A refinanced loan can be worth its cost many times over, because of the advantages that it brings, as well as a lower interest rate.

If you want to know how much your monthly payment may be, get pre-approved for the loan. It only takes a little shopping around to determine how much you’re personally eligible for in terms of price range. You will be able to figure out what your monthly payments will be by doing this.

Refinance Santa Clarita Benifits

Check your credit report before applying for a mortgage. With today’s identity theft problems, there is a slight chance that your identity may have been compromised. By pulling a credit report, you can ensure that all of the information is correct. If you notice items on the credit report that are incorrect, seek assistance from a credit bureau.

A lower interest rate mortgage may be a great solution for you. When you refinance, you may be able to lower the interest rate and mortgage payment , perhaps by a lot. You also could have the option of pulling out some of the equity in your house by “cashing out” a sum of money to fix up your home, consolidate debt, or take your family on a vacation. You may be able to refinance to a shorter-term mortgage loan, enabling you to build up your home equity faster.

Before getting a mortgage, study your credit history. Good credit is what can help you get a mortgage. Obtain copies of your credit history and scores from the three major credit-reporting bureaus. Study your reports carefully to ensure that no issues or errors must be resolved before you apply. Many lenders need a minimum score of 680, which complies with Freddie Mac and Fannie Mae’s guidelines. Most lenders want to avoid scores that are lower than 620.

Knowing what you can afford in monthly payments is very important when considering a real estate purchase. If you have a maximum monthly payment amount that you feel comfortable with, then you will eliminate the possibility of making yourself “house poor”, meaning that all of your income goes towards your housing payment, leaving you little extra money for fun or entertainment.

Having the correct documentation is important before applying for a home mortgage. Before speaking to a lender, you’ll want to have bank statements, income tax returns and W-2s, and at least your last two paycheck stubs. If you can, prepare these documents in electronic format for easy and quick transmission to the lender.

Fees and Expenses to Refinance your Mortgage

Do not waste time in your home mortgage process. After you’ve submitted a mortgage application to the lender, this is when your clock start ticking. You have to send any necessary documents for the application process quickly. Any delays could destroy a purchase and cost you your deposit. Get an expected closing date, and then keep in touch with the lender periodically until your loan closes. Some lenders close quicker than others.

Mortgage Consumer can research various lenders to find you the lowest fees on a new mortgage. We recently had an Anaheim home loan that the Borrower was getting ready to pay almost $12,000 in fees to a Quick Lender. Luckily, we stopped him. All these advantages do come with some expense, though. With your refinance, you’re paying for most of the same things you paid for during your existing mortgage loan. These might include settlement costs, an appraisal, lender’s title insurance, underwriting expenses, and others.

Make sure you’re not looking at any penalties when you apply for a new mortgage. Your old mortgage may impose fines for early payment, which can include refinancing. If there are fines, weigh the pros and cons before getting into a new mortgage, as you may end up paying a lot more than you expected, even though refinancing means a lower monthly payment.

Considering hiring an California real estate agent to guide you whether you are buying or selling. Going it alone when buying or selling a house is possible, but difficult. A good agent will help you find the right house or the right buyer. Agents will also handle the overwhelming paperwork that comes with real estate transactions.

Understand the difference between a mortgage broker and a mortgage lender. There is an important distinction that you need to be aware of so you can make the best choice for your situation. A mortgage broker is a middle man, who helps you shop for loans from several different lenders. A mortgage lender is the direct source for a loan.

Deal Direct with the Bank Mortgage Lender

Mortgage rates change frequently, so familiarize yourself with the current rates. You will also want to know what the mortgage rates have been in the recent past. If mortgage rates are rising, you may want to get a loan now rather than later. If the rates are falling, you may decide to wait another month or so before getting your loan.

You might investigate paying points to receive a lower interest rate. If you pay (on average) three percent of the loan amount up front, the savings for the term of the refinanced mortgage can be great. You might have heard that the points may be tax deductible, but as tax regulations can be ever-changing, please consult with your tax professional before depending on this.

Save up as much as you can before you look into buying a home. The more that you have to put down, the better that the terms of your home mortgage contract will be. Essentially, anything that you have to take out on loan could cost you three times that by the end, so save as much as is possible first.

Consider moving to a new location. Parts of the country are more expensive to live than others. If you live in a particularly costly location, consider moving to someplace that has a lower cost of living. You will get more bang for your buck and be more financially secure in the future.

Know the risk involved with mortgage brokers. Many mortgage brokers are up-front with their fees and costs. Some other brokers are not so transparent. They will add costs onto your loan to compensate themselves for their involvement. This can quickly add up to an expense you did not see coming.

Another thing about taxes is that if you lower your interest rate, naturally you’ll also be reducing the interest amount that you can deduct on your taxes. This is another expense that borrowers take into consideration. Call us at 877-244-9190 to help you do the math.

Do not even consider getting a home mortgage that is only paying the interest. This is the worst possible investment that you can make. The problem is that you are not getting any closer to actually owning your home. Instead, purchase a home that you can afford to pay principle on so that you are truly making a good investment.

Most borrowers find that the monthly savings outweigh the up-front expenses of a California home loan refinance. We can help you figure out what your options are, considering the effect a refinance of your home loan may have on your taxes, how likely you may be to sell in the next couple of years, and your cash on hand. Call us at 877-244-9190 to get started.

The Mortgage refinance team at www.MortgageConsumer.com

Best Tips to Get Approved For a New Home Loan!

Are You in need of a home Mortgage Santa Clarita? We offer years of experience and the following tips to help you get a low rate home loan.

Home loans and a necessity to having home ownership. The process of getting a home loan can be rather confusing and often even overwhelming if you are uneducated about it. Learn about mortgages before you apply for a home loan. Make sure you get mortgage options for you to consider before choosing any one mortgage program.

EZ Online Mortgage Application

Once you complete your EZ Online mortgage application figure out what your mortgage closing costs will be and include that in your mortgage payment calculations.  Shop around to see how much home loan you are eligible for. Once you know this number, it will be fairly simple to calculate your monthly home loan payments. Be sure to include taxes, hazard insurance and HOA cost in your payment figures.

You have to have all your financial documents on hand before meeting a home loan lender. The lender will require you to show last 2 years of tax returns, proof of your income, 2 months of  bank statements and documentation of your other financial assets. Being prepared well in advance will speed up the process of applying and help you get a quicker mortgage closing.

Mortgage Santa Clarita

If you are buying an Investment Property, make sure to consider annual maintenance as well as renters turnover. Educate yourself about the home’s history of any prospective property. You should know how your taxes will increase over time.

Sometimes, getting the absolute lowest interest rate is not the best choice. Be sure to check the fees you are paying to get the home loan. The bank wants to give you to take the highest rate possible. Don’t be the person that is a victim of this. Shop around to see a few options to choose from.

If you are denied for a home loan, ask for details. Exactly why and also find out what you can do to correct it and get an approval. Do not let a denial prevent you from finding a home mortgage. Mortgage Lenders have different programs so do not stop with just one. You might need someone to co-sign the home mortgage in order to get the income to qualify.

You will need an Appraisal no matter if you are buying a new home or refinancing your current home loan. The Lender will handle scheduling the home appraisal for you but usually, you will have to provide a credit card for the charges.

Consult an Experienced Mortgage Professional

Experience does count when it comes to getting a new home loan. Don’t choose the 1st person that comes along, see what others have to offer. If you are not offered multiple options on your home loan, you should consider another lender. Adjustable rate mortgage vs fixed rate mortgage or FHA home loan vs conventional home loan. Look into everything.

If you have questions, or want to get pre-approved for a new low rate home loan, give us a call 877-244-9190

USC Beats Stanford Football

Well…we hope so. As a California mortgage lender we work with homeowners across the state. However, being a Los Angeles home loans lender we are die hard USC Trojan fans. Now certainly we respect eh Stanford Football team with big stars Ty Montgomery and Devon Cajuste but with Nelson Agholor and Juju Smith, USC is dangerous. With USC’s Up Tempo offense, many teams that had USC so scouted they seemed to know the plays before Lane Kiffen called them.

The USC Trojans have a confident Quarterback with Cory Kessler and look for him to find USC’s Buck Allen often. New USC Coach has the team setting records for the number of offensive plays they run in a game and it seems to be working.

We love the USC Trojans but wish all the loyal Stanford fans the best of luck also. If we can help you with a new California home loan, just give us a call. As a Los Angeles mortgage bank, we are here to help answer all your mortgage questions.

How To Get a Mortgage Refinance Santa Clarita With Bad Credit

Do you want to know how do you get a new Mortgage Santa Clarita when you have had a few credit issues in the past? Here are some good tips on how to help you get a refinance Santa Clarita or a refinance Valencia.

Borrowers think they cannot get the Low Mortgage rates currently available because of their credit report issue.

• Start by working with a Bad Credit Mortgage Specialist who deals with these type situations daily. Many mortgage people will not have the experience nor be willing to work thru the problems to get the new mortgage.
• Determine exactly what the problem is and exactly what the plan to overcome this will be. I recently had a borrower denied by multiple lenders because of a $4500 collection item pulling down the score. An easy $50 per month payment arraignment saw the creditor remove it as a collection and show it as a current obligation.

Let us Send you a Free Credit Report

• Get a Credit Report. There are many places to get this absolutely no charge.
• Be proactive . Many borrowers just think the problems are to large so there is no way to overcome them. WRONG. If you want a new mortgage, get teamed up with a mortgage professional that can help you come up with a plan. Begin today.
• Private lenders that consider the property only and less your credit score are available . Rates are higher but usually lower that paying rent. This solution to a new purchase or refinance mortgage requires a hefty down payment so start saving now.

The minimum credit score to get a mortgage is about 600. We find many prospective homeowners and other that want to refinance that are below that but have issues dragging down their score we can help overcome. As an example, recently a borrower was declined due to high of a debt to income ratio. We looked at it and the main problem was high student loan payments. One call to the Lender and they gave the borrower a new lower payment which allowed them to get approved for a new home loan.

Another we helped had several issues that just needed us to file CD Resolves with the credit agencies. Within 3 days the items were corrected and the FICO went up.If your looking to get a new Mortgage Santa Clarita or a mortgage refinance Santa Clarita in any other state, contact us. We are a Los Angeles mortgage bank and can help you get approved for a home loan Santa Clarita.

Home Buyers Get An Investor to Help You Buy a New Home!

Many California homebuyers find they lack the credit score or the required down payment to qualify for a home loan and purchase a new home. With the help of a mortgage investor as a co-borrower you might get approved for a new home loan.

What is a mortgage co-borrower?

To get approved for a home loan, the mortgage application must have enough income from the borrowers to support the Federal requirement of a 43% max DTI.

The traditional meaning might refer to a private party who is willing to make a financial investment in the property with you. However, recently we see many more relatives, friend and others becoming the investor. While there is private investment money available, it is expensive and you should pursue other options as well.

We tell prospective homeowners to get OPTIONS when trying to get a new mortgage so you can determine the best for your situation. One option may be to get a person to be a non owner-non occupied co owner on the new loan. This normally is a person you know or family member.

Maybe someone who you least expect would be interested in going in with you to help you purchase your dream home in exchange for earning interest and equity on their investment. If that option is not available to you, look for a friend or associate who has the savings to assist you. Get a credit report… The mid score of the lowest Fico is used for the mortgage calculation. Then use one of the friendly mortgage calculators available to see what your budget is. Determine the amount of down payment you have and what the investor will need.

An FHA Home Loan

You will find an FHA home loan is much easier to qualify for and only has a 3.5% down payment requirement. FHA mortgage also have very low interest rates compared to other conventional loan programs.

Most retired people are earning very little interest on their savings and 401k accounts. You would be surprised at how many might jump at the chance to partner with you and make a real estate investment by helping you with your down payment for a new home loan.

We specialize in low rate home loans and look forward to answering all your home mortgage questions. Use our mortgage payment calculator to find out how much home you can afford.

Learn how to Calculate the Payment on your Home Purchase

Want to calculate a mortgage payment on a New Home you want to buy? Trying to determine how much the payment each month will be on a new refinance Castaic or a refinance Palmdale? Use our mortgage payment calculator to find exactly how much house you can afford.

It is important to understand what makes up the entire monthly payment. If you pay property taxes & Homeowners Insurance separately or it is included in your payment, you need to calculate the entire housing PITI payment. If you are refinancing your mortgage or getting a new home calculating the payment will give you an idea of what the cost really are.

Mortgage Payment Calculator Castaic

To calculate a mortgage payment use our Mortgage Calculator. Then you need to know or estimate the taxes, the insurance and Homeowners association if any. So your looking for PITI+ HOA to get the actual total.

If you don’t know the taxes, you can put the address into www.Zillow.com. Most loan originators will just put a percentage into the application to get close. Once you have the property shown, scroll down and it will list property taxes and estimated insurance. This may turn out to be a bit different but it will get you close. Divide the taxes and insurance totals by 12 months and add it to the principal & interest payment you got using the Mortgage calculator. Now add the HOA fees and you have the total housing monthly cost.

Before you go new home shopping know what you can afford. It is also handy to use the mortgage payment calculator when you do a  refinance Castaic or a refinance Santa Clarita loan. If you are buying a new home, please give us a call to discuss your mortgage options.

Secrets to Getting a Low Mortgage Rate Santa Clarita!

Based on what the average homeowner gets in their mail everyday, you would be inclined to think anyone can get an instant online Mortgage Rate Santa Clarita Approval and a 2% mortgage rate. You would also think some Santa Clarita home loan lenders offer 2% mortgage rates while others offer 5% mortgage  rates, or something in between. Lets get the smoke out of all the ads and give you some real mortgage advice.

Mortgage rates are derived from the cost of the funds being loaned to the home buyer plus cost & profit for the mortgage lender. A mortgage banker usually would be lending their depositors money while a mortgage broker will fund the home loan on their warehouse line of credit and then sell the loan to get back their funds to go do more Santa Clarita home loans.

Reverse Mortgage Santa Clarita

If you are over 62 then you might want to see if you can qualify for a Santa Clarita reverse mortgage. This type FHA home loan Santa Clarita allows seniors the option of a low and even no monthly payment.

Recently Federal mortgage guidelines came out that limits the amount of fees any Santa Clarita mortgage lender can charge a borrower. So you ask, how do the rates offered be so different? Most of the time, a mortgage application has what is called a PAR Rate. That is basically the rate the Lender will give you with no cost nor no credit. That is usually the rate the lender offers that has their cost of funds and their desired profit margin built into the rate. Most lenders will be close in this rate.

Mortgage Refinance Santa Clarita

To many homeowners shop only rates and do not see the cost or fees to get the rate offered. When you see a 2% rate there usually is fine print outlining the points charged for that rate. They can be high and differ greatly from lender to lender. You want a balance of good low rates and low fees. It is important to look at both and have your mortgage professional offer options and let you choose.

Home Loan Calculator Santa Clarita

If you buy points, you are paying a fee to get a lower rate. Find out what that is and exactly how much it is reducing your monthly payment. The rate points are usually added to your loan amount so it is not like you have to write a check but it is still very important part of getting a new home loan from any lender.

With our many years of helping homeowners get the best mortgage for their situation, we offer fast online mortgage application process combined with quick mortgage Santa Clarita approvals and fast turn times. Getting a low Mortgage Rate Santa Clarita is possible with good planning.