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Loan Processing Introduction
Financing is very important in real estate investing. Real estate is expensive, few people accumulate enough saving to pay for it with all cash. Here we will explain the process of getting financing,...
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Process for getting a loan
Mortgage Loan Officer is the one quote you for the mortgage rate and discuss the terms (30years/15 years)and type of mortgage (fixed or 5/1ARM etc). They may also be a mortgage broker which can...
View ArticleMortgage Loan Checklists
In order to expedite the mortgage loan process, here is a checklist for you to prepare the common items. copy of sales contract (with the seller’s signature on the contract) resident history (past 24...
View ArticleLoan Types
There a lot of loan type to choose, the most common one are fixed-interest and variable interest, and there are also some less common one like interest-only loan. We will explain both here. First,...
View ArticleWatch out for closing day (especially for holiday near closing day)
California Law provides a borrow shall not be required to pay interest on a home loan for a period in excess of one day prior to disbursement of escrow funds. Interest may commence to accrue on the...
View ArticleHow much can you buy?
You can check with a mortgage professionals to estimate the amount of money you can borrow to buy and that will determine the maximum house price you can afford. Usually a loan officer will get your...
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