Mortgage Advice With West Coast Funding
Deciding on what kind of loan to get is confusing enough - West Coast Funding
Unfortunately, getting a mortgage loan in California adds its own spin. There are several important differences between getting a loan in California versus anywhere else in the country. This article will explore some of those differences, as well as give you a few valuable tips for choosing the right mortgage loans.
One big difference between California mortgage loans and other loans is that they must be insured against flood and earthquake. Lenders that will originate a loan without insurance in California are few and far between. Because insurance is generally based on the price of the property, which tends to be high in California, insurance prices are a real concern lenders and borrowers alike.
Another difference between California mortgage loans and loans from other areas is the terms of loans. Because of differences in interest rates and home prices, home loans can stretch up to 50 years - As opposed to the usual 30 years over the rest of the country.
When you're getting a loan in California, it's important to both educate yourself and to shop around for the best terms and rates. Whatever your financial situation, whether you're looking to put zero down or 30% down, finding the right lender will make a huge difference.
Working with a
West Coast Funding mortgage broker can be another great way to help find the perfect loan. Mortgage brokers have dozens, if not hundreds of lenders they work with to provide you with the perfect loan. Better yet, working with a mortgage broker doesn't cost you an extra time: They usually split the closing costs that the banks would have charged you anyway.
Once you find a loan you're interested in West coast Funding, be sure you know what all the costs involved are, including mortgage insurance, property taxes, legal, and closing costs.
Want to buy a home in California? -Go West Coast Funding
If so, chances are you'll need a California Mortgage Lender to help finance your new house. Fortunately, the Internet has made the mortgage process easy. You can even find a lender online with very little hassle! Here's how to find a reputable California Mortgage Lender online:
Ask friends, family and neighbours
If you already live in California, some of the people you know in the state may have used a California Mortgage Lender online when they financed their home. Ask around among close friends and acquaintances to see if anyone can make a personal recommendation. Check with co-workers, family members and neighbors, too. A referral like this is often a good way to hear about the good-and bad-experiences people have had with various online mortgage lenders.
Watch out for predators
"Predatory lending" is a term generally used to describe any lender that is trying to take advantage of the borrower. Examples include charging high, unnecessary fees, pushing borrowers into a loan they can't afford, or using lies and deception to obtain clients. Carefully review all fees and charges-your lender is required to give you a "good faith estimate"-plus the fine print, like loan terms and prepayment penalties. Be on the lookout for any false or misleading information, or any terms that are vague and unspecific. If the fees seem too high or too numerous, look for a different lender.
Check with officials
All California Mortgage Lenders and Brokers should be licensed with either The California Department of Real Estate or The California Department of Corporations. To help ensure your California Mortgage Lender is legitimate and reputable, check with these agencies to see if your lender is licensed. Avoid any lending company that is not licensed or has allowed its license to expire.
Be sure to check with your city's Better Business Bureau office, as well. They'll have a record of any complaints that may have been filed against your
California Mortgage Lender.
To buy mortgages click here for more info on
Go West Coast Funding About: With West Coast Funding and Real Estate Services clients can rest assured that they are in good hands. We are experienced mortgage professionals that pride ourselves in offering top notch service at the lowest possible cost. Our guarantee is to beat any legitimate offer and still provide the best service available. We look forward to the opportunity to earn your business!
Mortgage Advice With West Coast Funding
By: West Coast Funding
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