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Low Rates, Fast Closings, and Exceptional Service
Our company offers outstanding Los Angeles, California mortgage rates, fast closings, and exceptional service. If you are looking to purchase a home in the Los Angeles area or if you are looking to refinance your current mortgage (lower your mortgage rate or take cash out), please contact Loan Officer Kevin O’Connor for a no-cost/no-obligation quote.
From first-time homebuyers to experienced real estate investors, this section of my website is for you.
Our easy-to-use mortgage calculator will help you determine your monthly mortgage payment.
Are you looking to refinance your current home loan? Then this section will show you your options.
Conforming home loans allow for 3% down, have low rates, and fast approvals. Purchase and refinance loan options.
FHA home loans are great for first-time homebuyers and/or those with less-than-perfect credit. Refinance or purchase.
VA home loans are for military members and their families who currently serve our country and previously served. A great program!
Los Angeles Conforming Loan Limits
The 2023 Los Angeles, California, conforming loan limit is $1,089,300. Below are the home loan limits for one to four-unit properties in Los Angeles.
The one-unit Los Angeles conforming loan limit is $1,089,300. Primary, secondary, and rental properties.
The two-unit Los Angeles conforming loan limit is $1,394,775. Primary, secondary, and rental properties.
The three-unit Los Angeles conforming loan limit is $1,685,850. Primary, secondary, and rental properties.
The four-unit Los Angeles conforming loan limit is $2,095,200. Primary, secondary, and rental properties.
If you are looking to purchase a home, you’ll want to read this article. It will give you detailed information about the documents you need to buy a home.
If you are looking to refinance your current mortgage, then you’ll want to read this article. It will give a list of documents you’ll need to refinance your mortgage.
When you buy a home, you’ll want to complete a Home Inspection. In this article, you’ll get all the ins and outs of a Home Inspection.
Requirements For A Loan Pre-Approval In Los Angeles
Here are the basic requirements for a loan pre-approval in Los Angeles.
- A Debt-To-Income ratio of 50% or below.
- Have a down payment equal to 3.00% of the purchase or more unless you are looking to secure a VA loan which offers 100% financing.
- Credit Score of 620 or higher
- 1-4 unit residential property
Every mortgage lender is different, so it’s important to keep in mind that this is not a guarantee you will receive a loan pre-approval from a mortgage lender if you meet these four basic guidelines. Some lenders require a lower debt-to-income ratio, a higher down payment, and/or a higher credit score.
The pre-approval process should only take 24-48 hours to complete once your loan application is completed and all your documentation is submitted. Once the pre-approval is complete, the loan officer will issue you a “pre-approval letter” so you can begin making offers.
How To Find The Best Mortgage Rates In Los Angeles
If you are buying a home in Los Angeles or refinancing your current mortgage, you’ll want to follow these five steps to find the best mortgage rate in Los Angeles.
- Find a reputable mortgage company using the Better Business Bureau’s website.
- Work with an experienced loan officer (at least 5-10 years of experience) who knows the Los Angeles area well.
- Ask questions; lots of questions.
- Avoid too-good-to-be-true quotes.
- Ensure you find out the total amount of fees you’ll be paying (for everything, out of pocket and included in the loan).
Spending twenty to thirty minutes researching your mortgage rate options in Los Angeles could save you thousands on your next transaction.