We offer low Los Gatos, California mortgage rates, fast closings, and exceptional service. If you’re interested in purchasing a home in the Los Gatos area or want to explore the possibility of refinancing your current home loan, please don’t hesitate to reach out to me for a free, no-obligation quote.
|30yr Fixed Rate||6.375%||6.591%||Request|
|25yr Fixed Rate||6.375%||6.618%||Request|
|20yr Fixed Rate||6.25%||6.398%||Request|
|15yr Fixed Rate||6.125%||6.365%||Request|
Conforming Loan Limits Los Gatos, CA
The baseline 2023 conforming loan limit in Los Gatos, CA is $1,089,300. Below are the home loan limits for one to four-unit properties in Los Gatos.
The one-unit Los Gatos conforming loan limit is $1,089,300. Primary, secondary, and rental properties.
The two-unit Los Gatos conforming loan limit is $1,394,775. Primary, secondary, and rental properties.
The three-unit Los Gatos conforming loan limit is $1,685,850. Primary, secondary, and rental properties.
The four-unit Los Gatos conforming loan limit is $2,095,200. Primary, secondary, and rental properties.
Los Gatos, California Home Loans
Home Loan Resources To Save You Time and Money
We offer a lot of great first-time homebuyer home loan programs and programs for experienced investors.
Our easy-to-use mortgage calculator will help you figure out your monthly mortgage payment and more.
Refinancing your current home loan might improve your financial situation. Check out our home loan refinance options.
USDA Home Loans
Do you live in a rural community? Then the USDA home loan program is a great product to consider. Low rates, and great benefits.
FHA Home Loans
The FHA home loan program is a great product for first-time homebuyers and/or those with less-than-perfect credit.
VA Home Loans
Do you or did you serve in the military? VA home loan program is a great option to consider when buying a home or refinancing a mortgage.
A Guide To Obtaining A Home Loan Pre-Approval
Obtaining a home loan pre-approval is easier than you think. These are the basic steps and guidelines for obtaining a home loan pre-approval with a lender.
Three Steps For A Home Loan Pre-Approval
- Complete a loan application form
- Submit the requested documentation
- The Loan Officer obtains a copy of your credit report.
Here Are Four Basic Home Loan Guidelines You Should Know
- Home loan lenders like to see your Debt-To-Income ratio below 50%.
- If you are buying a home you’ll need to be able to put down at least 3% (VA home loans allow for a 0% down).
- Ideally, you’ll want your credit score at or above 620.
- Residential mortgage lenders only lend to 1-4 unit residential properties. Five units or more is considered a commercial mortgage.
This is important to remember; every mortgage lender is different so keep that in mind. If you meet the above guidelines it’s not a guarantee you will receive a home loan pre-approval. There are many home loan lenders who require a lower debt-to-income ratio, a higher down payment, and/or a higher credit score.
A key part of the home loan pre-approval process is you, the applicant. Providing accurate and complete information is essential. Second, send in exactly what the Loan Officer is requesting, and do not substitute. If you don’t have exactly what the Loan Officer is asking for, discuss that with him/her prior to sending in your documentation.
Usually, the pre-approval process takes 24-48 hours to complete (this is after you’ve completed the loan application and submitted all the requested documentation).
Once you are pre-approved the Loan Officer will issue you a “pre-approval letter” (if you are buying a home). If you are refinancing your current home loan, the Loan Officer will prepare the file for underwriting.
Mortgage Broker In Los Gatos, CA
A Los Gatos mortgage broker you can trust is someone who has the ability to obtain the best home loan rates and also provides a high level of customer service. A reputable mortgage broker will usually have 5-10 years of experience, the ability to provide a variety of home loan programs, and a top rating with the Better Business Bureau, Zillow, Google, and more.
Providing important and useful information to their clients is a key attribute as well. Here are four informative articles I believe every home loan applicant should read.
This article will give you the ins and outs of the Home Appraisal process. If you’re buying a home or refinancing your current home loan interest rate then be sure to read my Home Appraisal article.
A key part of buying a home is the Home Inspection. This is an absolute necessity for all first-time homebuyers. In this easy-to-read article, you’ll get detailed information about the Home Inspection process.
A big step towards saving time when you refinance your current home loan is knowing what documents a home loan lender needs to refinance your home. This easy-to-read article will give a detailed list of the documents you might need to refinance your mortgage.
To Buy A Home
Buying a home can be stressful but it doesn’t have to be. One way you can make it easier is by knowing ahead of time what documents the lender will need to underwrite your loan. This article will give you detailed information about the documents you need to buy a home.
Five Steps To Obtaining The Best Mortgage Rate In Los Gatos
If you are buying a home in Los Gatos, California, or if you are refinancing your current mortgage, these five steps will help you lower your home loan rate, and save you time and money.
- Locate a trustworthy mortgage company that offers low-rate mortgages.
- Work with a Loan Officer that has years of experience (at least 5-10 years of experience).
- Make sure you ask questions, lots of questions!
- Stay away from too-good-to-be-true quotes.
- Don’t pay high closing costs. Before you move forward find out what the total lender fees are (for everything).
Following these five steps will help you secure the best possible mortgage rate.