Mortgage Loan Broker Los Angeles, CA
Los Angeles mortgage borrowers are aware that while the home prices have picked up the pace of increase so has the mortgage rates.What people are not aware of is that those looking to get an FHA mortgage can get the lowest rates and those looking for rates like 3.5% is also available on conventional mortgage.
Los Angeles Mortgage lenders and experts are well aware of the needs of Los Angeles mortgage borrowers.They understand the life style expenses of living in Los Angeles is steep as compared to other states. The income of an average Los Angeles mortgage borrower is higher as compared to most other states. Higher earning dose cover for higher savings but mostly it goes towards covering for life style expenses.
In 2008 when he had the mortgage crash the rates prior to that were in the range of 5% and then it dropped to 3.5% at the peak of the crisis and now it’s moving to an average of 4%.Not everyone will get the same rate. Like I said Los Angeles Mortgage companies and experts know what truly the local mortgage borrowers are looking for and how the job and income market is doing when it comes to understanding the Los Angeles Mortgage borrower’s expectations.
The refinance cost is the lowest and in some cases you can even qualify for a no cost loan where no part of the cost gets added back to your mortgage.Most borrowers have taken advantage of no cost loan during 2008 and thereafter. So it shouldn’t come as a surprise how a no cost loan is possible. Yes indeed nothing is free. There is a price tag to everything but when you talk to your Los Angeles Mortgage expert. They will be able to work out loan options that works the best for you. Being a high cost area the loan limit size for Fannie Mae and Freddie Mac is higher for Los Angeles. A typical loan limit is about $ 424k where as for Los Angeles it’s much higher. The advantage is that your mortgage is still backed by Fannie Mae and Freddie Mac. Mortgages backed by Fannie Mae and Freddie Mac find an easy sell from investors point of view because they know its backed by the Government agency.
For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154 .
Article by Roger Shanker
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