Loan Programs
Loan programs for Purchase or Refinance
Billions of dollars of California Mortgages are funded every year. Finding the right one is essential. Information on mortgages for refinance or purchase is key to deciding which home loan program best fits your needs. Another important factor, in searching for a home loan, is finding a mortgage consultant with knowledge and experience that can follow through and ensure that your mortgage closes on time. Our home loan team at koloans.com strives to ensure your satisfaction and we have the home loan knowledge and experience you deserve. And all our clients can stay up-to-date with the latest information with our Mortgage Updates page.
Along with our industry standard Fixed, Adjustable and Interest Only programs we also have 40-year loan programs, programs for people with limited tradelines, special rates for those with excellent credit, foreclosure bailout loans and much more!
Fast Home Loan Closings:
Purchase or Refinance Loans Closed In as Little as 10-14 Days.
High Mortgage Loan Amounts:
Loans Up to 2 Million Dollars
Specialized Home Loan Programs:
97% FINANCING with a 620 FICO Score or Higher
40-Year Loan Programs
Interest Only Programs
Non-Warrantable Condos
Condo Conversions
55% Debt to Income Ratio
HELOC's
**Programs are subjest to change without notice. Please call for details.
Additional California Home Loan Information:
First Time Home Buyer-"Buying your first home very exciting and at the same time daunting and confusing. The don't know the important questions to ask. For most first time home buyers this is the biggest transaction of their lives and many have never had the experience in making such important decisions with respect to where, when and what to buy. This all stems from a lack of experience and knowledge of how the home buying process works. The process can take weeks or even months and then when they select the right home escrow opens. Then there is the home inspection, appraisal and loan approval. Unfortunately, many first time home buyers don't obtain pre-qualification prior to looking for a home and they run the risk of wasting a lot of time."
How not to miss a good loan-"The age of the internet has been a big benefit to everyone as there is information on mortgages and every other topic you can think of. The problem is there is too much mortgage information and if you don't know how to use this mortgage information, you could loose out. Back to the story. I quoted them an interest rate that was competitive from a major national bank. They came back and said they found a slightly lower rate and asked if I could do better. I searched some more and found another major bank offering a lower rate for the same program. I quoted the rate (which ended up lower than the quote I was competing against) and they we're happy with the reduced terms. The next morning the bank announced they were offering they're preferred brokers a 50 basis point off (.50%) reduction in rate. Now at this point I can do one of two things: 1) Keep the rate where it is and make more money on the loan 2) Or pass on the savings to the client."
The Appraisal-"Most people think since they paid for the appraisal they own the rights to it, so everything should be fine. And that is not the case. If for example mortgage company "A" sends out an appraiser and you pay for it, the only company that can use that appraisal is company "A". No other lender can nor will they use that appraisal if it has company "A" listed as the mortgage company. Now let's say you want to work with company "B" and need that appraisal. The appraiser can change the name of the mortgage company but he needs permission from company "A" and good luck getting that done. It's not fair but it's the way it's set up in the state of California. Also, even if you can get the name changed, the appraiser usually charges a fee for it.
So if you want to protect yourself, don't have an appraisal done until you know everything about the mortgage you're obtaining. Ask questions and when you're ready to move forward then do the appraisal. I know some people that have done an appraisal prior to contacting a mortgage company so that they have full control of where that appraisal goes."
At koloans.com my team and I believe in providing our clients options in choosing their next home loan along with outstanding customer service. We make it a priority to seek out new home loan programs, with quality and trustworthy lenders, that will enable our clients to buy that dream home. It is essential that we provide our clients with the best possible loan and make sure that loan is ready to close prior to the close of escrow.
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