One application with Bruce gives you access to dozens of
California Wholesale Home Loan Funding Sources!
California Wholesale Home Loan Funding Sources!
BRUCE'S NOTE:
Regarding Current Mortgage Market Rates
Many mortgages programs have become extinct since the mortgage crisis peaked. Qualifying for a home loan is also much more difficult; lenders have tightened approval requirements and there are fewer lenders in the game. You can research rates and loan programs on the internet and elsewhere. However, how do you know the lender's guidelines and, more importantly, if you will qualify for their program and rate? Unfortunately, no lender can guarantee a program and rate until you apply and they review all your documented qualifications--including a property appraisal.
For the best advertised rates, if your credit scores are 740+, your loan-to-value ("LTV") is under 70% (30% Down, or 30% equity in your home), your income-to-debt ratio is 38% or under, you have at least 2 years on the job with documented income, you have good cash reserves, your loan is for a primary residence single family home (in good condition and not a "fixer"), and you only need 15 day rate lock protection, you will probably qualify for the best rate -- that is, if your loan amount is close to the conforming limit of $417,000. However, if you, or your property, do not quite qualify in one of these areas, you will probably be offered a higher rate, a less attractive loan, or--worse case--your application will be declined and you will have to start over elsewhere.
Regarding Current Mortgage Market Rates
Many mortgages programs have become extinct since the mortgage crisis peaked. Qualifying for a home loan is also much more difficult; lenders have tightened approval requirements and there are fewer lenders in the game. You can research rates and loan programs on the internet and elsewhere. However, how do you know the lender's guidelines and, more importantly, if you will qualify for their program and rate? Unfortunately, no lender can guarantee a program and rate until you apply and they review all your documented qualifications--including a property appraisal.
For the best advertised rates, if your credit scores are 740+, your loan-to-value ("LTV") is under 70% (30% Down, or 30% equity in your home), your income-to-debt ratio is 38% or under, you have at least 2 years on the job with documented income, you have good cash reserves, your loan is for a primary residence single family home (in good condition and not a "fixer"), and you only need 15 day rate lock protection, you will probably qualify for the best rate -- that is, if your loan amount is close to the conforming limit of $417,000. However, if you, or your property, do not quite qualify in one of these areas, you will probably be offered a higher rate, a less attractive loan, or--worse case--your application will be declined and you will have to start over elsewhere.
For the reasons above, an experienced Mortgage Broker is still your best source for financing. A Mortgage Broker processes and packages your loan in the most favorable light and then shops, not only for the best rates and fees, but also confirms your qualifications for your program of choice. A Mortgage Broker accesses financing at the wholesale level through Banks, Mortgage Bankers, Credit Unions, Insurance Companies, Investment Companies and other real estate funding sources. Consequently, you should not pay any more for a home loan through a Broker versus doing the leg work on your own. In fact, you will probably save money, and definitely time!
I have 30 years experience in Residential Real Estate as both a California Mortgage Broker and a California Real Estate Broker. I access dozens of wholesale lending source's rates, fees and qualifying guidelines. Consequently, you are not limited to just one lender's programs and guidelines; you are assured I will personally secure the best possible financing for your situation - with just one application package that I assemble and present for you!
No Obligation Pre-Qualfication and Rate Quotes
for California Home Loans
for California Home Loans
Quick Refinance Loan Quote - request here
plus: Free Pre-Qualification!
Find out how much home you can really buy at today's low rates
Quick Home Buying Power Estimate - request here
based on your Comfort Level Payment and total Targeted Cash!Quick Home Buying Power Estimate - request here
Need a Loan Modification?
You may qualify for the Home Affordable Plan
see Link on my Resources Page
Thank you for considering my Home Financing Services!
