Understand and Choose the Right Loan Product
The real estate financing industry is dynamic and ever-changing. As financial markets change and the cost of housing moves through the highs and lows of real estate cycles, new loan products are created to meet the needs of the consumers. Even if you think you would never qualify for a loan, you won’t know unless you go through the process. You may be surprised to find yourself on the way to home ownership. If you already have a home and are not sure if your current loan is the best one for you, it may be time to consult with a mortgage professional. You may be able to lower your payments or pull equity out for a variety of uses. Many people who have adjustable rate loans are changing to fixed rate loans now. For most people, buying a home or investment property is a financial stretch. Many people postpone making a purchase, and then years later regret their lack of action. Owning real estate can give you a solid grounding for your financial well-being. Don’t wait to buy... Buy and wait! Visit our corporate website www.theloanlady.net for complete information on the loan processes. Also visit our new website www.sanjosehomemortgage.net.
You can also contact Paula Cochran by phone: (408) 828-1655. You can also email her at paula@theloanlady.net for more details. Are you thinking about buying a home?
Paula Cochran can help you fulfill your dream by providing you with the complete information about home loans and also find the best loan options to suit your needs. |
9 Steps in Loan Process
Circumstances where refinance might be worthwhile
Refinancing often makes sense, but closing costs can amount to several thousand dollars. Anyone considering refinancing a real estate loan should work with an experienced loan officer to determine if a new loan would be financially beneficial. Click here for more detailed information on Refinancing Loans. |
Qualifying for a Loan What goes into the loan qualification process? How does an underwriter view your loan application and documentation? How are the strengths and weaknesses of your financial situation viewed? Real estate financing is “Risk-Based”. Loan programs, interest rates and loan amounts can vary greatly between a well-qualified borrower who has a high credit score, ample assets, good employment and income, and a borrower who is less qualified in any of those areas. A borrower whose application documentation indicates a low risk for defaulting on the loan will enjoy a greater number of loan options and lower interest rates. Conversely, a borrower who is considered a high risk will have a limited number of loan options, and will have to pay higher interest rates. Click here for an insight into how an underwriter views your ability to repay a loan. |
Enter the term of the loan, interest rate, and the amount you are borrowing to get the minimum monthly repayment. |
Visit our corporate website www.theloanlady.net for complete information on the loan processes. Also visit our new website www.sanjosehomemortgage.net. You can also contact Paula Cochran by phone: (408) 828-1655. You can also email her at paula@theloanlady.net for more details. |
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