Learn how you can successfully acquire a mortgage loan ?
Did you know that according to the National Association of REALTORS, only about 10% of home owners purchase their homes with all cash? Depending on what state you reside in, it can be even more difficult to buy a home. In states like Hawaii, New York, California, and Massachusetts, purchasing a home in one of their major cities can be both expensive and competitive. As someone who may want to become a first-time home owner, it can be discouraging. However, there are many residential (and commercial) mortgage brokers in these popular areas that are there to help you out! Learn how you can successfully acquire a mortgage loan in a state like California.
What Is A Mortgage?
First it is important to know what a mortgage is and what it does. A mortgage is an agreement between you (the borrower) and a mortgage lender to buy or refinance a home without having all the cash upfront. Instead of paying $300,000 for a house upfront, you can acquire a loan and borrow money from a broker and pay them back over time.
What Are The Different Types?
There are many different types of mortgages that are available for future homeowners. Here are a few of the different options:
Fixed rate mortgage: One of the most common mortgages for future home-owners is a fixed rate mortgage. This means that the interest rate on the loan does not fluctuate over time, it remains constant, or fixed.
Adjustable rate mortgage: This differs from a fixed rate mortgage and remains constant for a few years and then slowly fluctuates with time.
Interest-only mortgage: This type of mortgage allows people to pay interest for the interest that is charged every month for the duration of the note.
Lender paid mortgage (LMPI): A lender paid mortgage (or LMPI in general) is an arrangement where your mortgage lender is responsible for covering the cost of your mortgage insurance.
There are so many more options that you can choose from, so a mortgage broker would be able to help you find which one is best for you!
Finding The Perfect Pick
Finding the perfect mortgage broker can be a daunting task, especially when you live in one of the United State’s most expensive states. However, California Wholesale Lending is a great option for Californians, or even those that are looking to buy property in California.
California Wholesale Lending has been offering its amazing mortgage brokering services for over 10 years now with specializations in First Time Buyers, Conventional Loans, FHA Loans, and more. Tony, and the rest of his team, pride themselves in quick and efficient service. Their overall goal is to make it easier for people to obtain a “well-structured” mortgage.
If you are currently looking to buy your first home, California Wholesale Lending will help you qualify for the loan that is equitable for you. They also offer refinancing services for those of you that may be looking to replace your old mortgage with a more favorable one.
The opportunities are truly endless when you decide to work with a mortgage broker. That one house that you always dreamt about can now become a reality! If you are interested in working with Tony and his amazing team, make sure to contact California Wholesale Lending at (877) 448-5402 (Ext. #: 301) or email Tony directly at tony@cawlr.com.
Don’t let time pass you by and look into working with California Wholesale Lending today to make your homeowner dreams come true!
