California Mortgage, Cities in California, Home Loans for Refinance or Purchase

Living in California you're presented with a lot of opportunities to pursue your dreams. And one of the biggest dreams a California resident has is buying a home. We at koloans.com value the role we play in finding our clients a mortgage. Fixed or Adjustable California Interest Rates we are confident we can find the right mortgage for you. Whether it’s your first time buying a home or you're a seasoned real estate investor, we can help. Understanding your mortgage program is essential. Do not hesitate to ask any questions about the mortgage you are considering. No question is a bad question so please ask if one arises. The mortgage industry changes almost daily and we are on top of those changes. Working with an experienced mortgage consultant like Kevin O’Connor will ensure your transaction goes as smooth as possible.

California Home Loan Tip: Review your credit history before you apply for a loan. Understanding what is on your credit report will provide you with vital information you need to shop for a new loan. If there are any errors, be sure to correct them especially if the errors are causing your interest rate to go up.

California Home Loan Tip: Ask the Mortgage Consultant you are working with to contact at least 3 appraisers to make sure he/she finds an appraiser that knows your area specifically. It is very important, especially if you are doing a refinance were there might be a value issue, to have an appraiser that not only knows the area well, but also your street.

California Home Loan Tip: When looking for the best terms on your next California Home Loan, don't get entagled in the "A.P.R. Trap". Not all Mortgage Consultants calculate the A.P.R the same way, and some don't even know how to provide an accurate A.P.R. To get your best reading of the cost of the loan just obtain all the fees and costs in writing.

California Home Loan Tip: When you do complete a purchase home loan or refinance home loan, be aware that you will pay daily interest to your new lender. This interest is charged on all first lien mortgages. Ask ahead of time what the Mortgage Consultant expects the daily interest charges to be.

California Home Loan Tip: If you have credit card balances above 35% of your credit limit, try to pay them down 60-90 days prior to applying for a home loan. Once you go above a 35% ratio, it starts to negatively affect your credit.

California Home Loan Tip: In California you are allowed to "Lock" your credit report. If you have no need to apply for credit, this is the best way to prevent anyone from using your good credit to obtain a loan.

California Home Loan Tip: Always make sure you receive a full disclosure package when you first moved forward with your new loan. It's required by law and also provides you with the details of the loan and your rights as a borrower in the State of California.

Santa Rosa California Mortgage
Petaluma California Mortgage
Stockton California Mortgage
Vallejo California Mortgage
Fairfield California Mortgage
Visalia Calfornia Mortgage
Porterville California Mortgage
Yuba City California Mortgage

Fixed or Adjustable we can find the right home loan for you. Allow Kevin O'Connor and his team to find the right mortgage for your and enjoy one of the highest levels of customer service in the industry.

Loan Application Instructions- "A properly documented loan application makes your loan process go smoothly. This checklist will help you gather your paperwork. Complete and sign the residential loan application, Form 1003, and the attached loan info sheet, credit authorization and fair lending notice. Page 4 of the application is a continuation page in case you need additional space for your assets or liabilities. If you make a mistake while filling out the application cross it out, and make a change. Do NOT use whiteout. If you are salaried: provide W-2's for the previous two years and one month of paystubs. If you are self-employed, provide tax returns for the previous two years, including all schedules, and a YTD profit and loss statement. (Note: provide copies of all requested documents. Do not provide original documents.) If you own rental property, provide recent rental agreements and tax returns for the previous two years, including all schedules."

Fixed Second vs. HELOC- "When people look into obtaining a second mortgage, there are two basic options for them: A Fixed Second Mortgage or a Home Equity Line of Credit (HELOC). Depending on your needs both have benefits and risks. Below you will find the benefits and risks of both: Fixed Second Mortgage: Benefits: 1. The rate is fixed and your payments never change 2. You can lower your payment by obtaining a fixed rate mortgage that has a balloon payment in year 15. In year 15 you would either have to payoff the mortgage, refinance the mortgage or sell the house. 3. Money obtained could be a tax deduction for you. Please consult your tax advisor."

A.P.R.- "Your A.P.R does not advise you on how long your rate is locked for. A mortgage company who offers you a 10-day rate lock may have a lower A.P.R than a lender who offers you a 60-day rate lock! Do not attempt to compare a 30-year loan with a 15-year loan using their respective A.P.Rs. A 15-year loan may have a lower interest rate, but could have a higher A.P.R, since the loan fees are amortized over a shorter period of time.

Calculating A.P.Rs on most adjustable and balloon loans is even more complex because future rates are unknown. The result is even more confusion about how lenders calculate A.P.Rs. Finally, many lenders do not even know what they include in their A.P.R because they use software programs to compute their A.P.Rs. It is quite possible that the same lender with the same fees using two different software programs may arrive at two different A.P.R numbers!"

In association with Priority One Lending - 11901 Santa Monica Blvd. #319 - Los Angeles, CA 90025
Office Phone: 800-550-5538 Fax: 310.694.8188

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jb mortgage capital, inc. (formerly priority one lending, inc.), is a mortgage broker licensed by the state of california department of real estate #1836772.
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