Mortgage LA CA

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Mortgage LA CA

  1. 1. Mortgage LA CA Welcome to the Mortgage LA CAwebsite! We help individuals seeking a mortgage in order to purchase a home, as well as individuals seeking to refinance a mortgage on a current homeMortgage LA CA knows how important it is for their customers to invest in a home, and how much a home can improve their life. With the help of Mortgage LA CA skilled customer service representatives, your home-owning dream can become a reality! Mortgage LA CA is committed to helping families and individuals. We provide competitive rates as well as personalize customer service. We are also flexible enough to provide mortgage packages for customers of a variety of backgrounds and needs. Because we value high service standards as well as speed, Mortgage LA CA will work with you to meet your closing deadline on the purchase of your home. There are many obstacles to owning a home, but Mortgage LA CA will help you overcome these obstacles and make home buying a pleasurable experience. Our customer service representatives have the tools and resources to expedite the home loan process, so you can own your home quickly and with as little risk as possible. Mortgage LA CA will make every effort to find a loan program and pricing that fits your individual situation, and to provide you with the best possible value. We are committed to responsible, honest, and ethical lending, and to protecting your home investment with minimal risk to you. We have an excellent track record of finding and closing loans as efficiently as possible. Put our service to the test! Call a Mortgage LA CA customer service representative at 213-454-0771.
  2. 2. Different Kinds of Loans There are many different kinds of loans available – to many to name individually! Some loans are available to everyone, some target specific locations, and some are good for first-time homebuyers. The characteristics of each loan program are unique, so it is best to consult a loan professional at Mortgage LA CA for the best advice and most information. However, you can become familiar with the details of some programs available to you by considering the following: Is it important that the payment is the same every month?  If so, you may consider a fixed-rate mortgage. Is it important for you to build equity quickly?  If this is a factor, you should consider a shorter amortization (final payment) period, such as a 15-year, fixed-rate mortgage. Will your income stay stable, or increase?  If you anticipate an increase in income, you might want to take advantage of a lower start rate on an ARM or a temporary buydown. Other factors:  Ability to qualify for the loan  How long you will live at the location  How you would be affected by significant rate changes  Possibility of up-front costs
  3. 3. Loan Process Here at Mortgage LA CA we aren’t fans of complicated processes. We try to make the loan experience as simple as possible, without throwing in complicated, distracting terminology. Our loan process is designed to streamline your loan application and closing, hitting all the major milestones, and communicating fully with our clients. Here’s our step-by-step process: 1.) Complete your prequalification checklist and collect all the checklist items. 2.) Mortgage LA CA gathers any necessary documentation, including a credit report. 3.) Mortgage LA CA sends out your pre-qualification letter. 4.) You begin to search for your ideal home, with the help of a professional realtor. 5.) Your realtor presents an offer on the property on your behalf. 6.) The offer is accepted, and a closing date is set. 7.) A loan program is selected by your loan originator. This will meet your financial goals and needs. 8.) Mortgage LA CA orders title report, appraisal, and necessary documents. 9.) Mortgage LA CA submits file to underwriters for final approval. 10.) Final approval is issued; any further conditions are collected and satisfied. 11.) Closing documents are sent to a title company. 12.) You and your realtor review a final settlement. 13.) Attend the scheduled closing and become the owner of your property. Congratulations! After this process is completed Mortgage LA CA will stay in touch for any further questions, and to help with future mortgages.
  4. 4. FAQ Mortgage LA CA strives to make home ownership a reality for all our customers. Here are some questions that are frequently asked: What is a mortgage?  In the most general terms, a mortgage is a loan, obtained by an individual or company, to purchase real estate. The “mortgage” is actually a lien (a legal claim) on the real estate that ensures that the client pays their debt. Why should I own rather than rent?  Owning can be equally as affordable as renting, and in some parts of the United States less expensive than renting. Homeownership may not be right for everyone, but there are many advantages, including the ability to build equity and possibility of tax advantages. Loan interest may be tax deductible in some cases. Homeowners are responsible for maintenance costs, but can use maintenance to increase the value of their home. Are there options for first-time homebuyers?  There are several affordable mortgage options for first-time homebuyers. There are also options for people who don’t have money saved for down payment and closing costs, have poor or no credit, have long-term debt, or have irregular income. How much down payment will I need?  Some mortgage options available only require a down payment of 5% or less of the purchase price of the property. However, the larger your down payment, the less you have to borrow, and the more equity you’ll have. Ideally, the client will have saved 20% of the purchase price. What kind of information do lenders need from me?  It is best to have ready information about employment, finances, and the home you wish to purchase. Lenders will ask detailed questions about these topics so they can determine what kind of monthly payment you can afford. What affects mortgage payments?  The amount of your mortgage payments is influenced by the size of the down payment, the size of the loan, the interest rate, the term of repayment, and the payment schedule. What is an escrow account? Do I need one?  Your mortgage lender may require or suggest that you set aside a portion of your monthly mortgage payment to cover some annual charges, such as homeowners insurance,
  5. 5. mortgage insurance, and property taxes. You pay a fixed amount each month in addition to your mortgage, which insures money will be available for these kinds of bills. Where can I learn more?  You can contact 213-454-0771 one of Mortgage LA CA’s customer service representatives, or request that they contact you. Contact Us: Call US: 213-454-0771 Email Us: info@mortgagelaca.com Visit Our Website: http://www.mortgagelaca.com/

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