Mortgages & Loans
Home Loans are a needed part of most real estate transactions. Unless you plan to pay with all cash, the home is going to need financing. If you’re looking to buy a house, there is a good chance you’ll need to get a loan in order to make the purchase. Home Loans have changed over the past 15 years and many Simi Valley Loan Brokers offer more varieties and programs then just the conventional standard home loans for 30 years. Some of the different types of loan programs are: Interest Only, 100% financing, 1% start Rate Negative amortization, 15 year accelerated loan, 30 conventional loan, and mixtures of these in a Monthly option loan. Talk to a Simi Valley Mortgage Specialist for more information and consultation about which loan program you best fit into. It’s always preferred that you become “pre-qualified” or better yet, “pre-approved” by a lender before going home shopping. Pre-Approved letters are a wonderful addition to the purchase offer and show strength and seriousness of a buyer.
Mortgage payments can vary because of different amounts of the loan, different APRs, different types of loan programs, and more. The mortgage rate will vary primarily due to factors of the applicant’s credit scores, income ratios, loan to value ratios, the market and the market rates, and other prevailing factors. It is hard to get a clear answer on what the rate will be unless the loan officer takes all of your information and runs credit checks. When applying for a mortgage, you should have already been pre qualified so that the lender has most, if not all, of your information and required documentation. This way, they can provide you with a “Good Faith Estimate”. This document is important to read over because this is what the lender expects to get you, including rate and payment amounts. In some cases it can be illegal for them to provide you with a low “Good Faith Estimate” and not provide that same price and type of loan later. it’s best to ask the Mortgage Specialist about this first as they can give you a very detailed answer and explain the Good Faith Estimate thoroughly to you.
As a Real Estate Agent, I prefer to work with Loan Officers that I know can get the job done correctly. These people work with me in a synergistic way ensuring that the escrow will close and the transaction will go as smooth as possible for my buyers. The Simi Valley loan officer I prefer to use is:
Randin Rulenz
Loan Officer
Greenback Funding
(805) 813-3314
Please call to set up an appointment with him to get pre-qualified before seeing a home with me.
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