California Home Mortgage Lenders Help You Help Yourself

Have you been California dreaming? Maybe you see yourself up on the big screen, and your footprints set along the Hollywood Walk of Fame. Perhaps you picture yourself catching waves or a tan at a fabulous Malibu beach. California seems to have it all: year-long mild temperatures, palm trees, and a laidback lifestyle. With the help of California home mortgage lenders, though, you won’t have to settle for California dreamin’ for long. You, too, can live that California dream in your own home!

Bad News before the Good

In recent years, the Golden State’s cost of living has steadily increased, with San Diego and Los Angeles becoming some of the most expensive U.S. cities to reside in. So many Californians have packed up and relocated to other states. Not all of the news is bad, however. California has the largest Gross State Product, or GSP, in the entire United States. Also, the Golden State has several regions, including Silicon Valley, Napa Valley, and Hollywood, which are vital to the nation’s economy. Moreover, the state’s average personal income ranks in the top quarter of the country. In fact, the housing industry is alive and kicking in California. In 2005, it accounted for nearly $70 billion and 490,000 jobs state-wide.

Cooling Off, California-Style

Experts believe the housing market around the country has started to cool. That trend can be observed in Southern California, where more homeowners are pursuing “mortgage debt forgiveness.” This happens when home prices drop and the property’s value is less than the mortgage debt. These “short sales” are used to avoid home mortgage foreclosure. Foreclosure occurs when California home mortgage lenders must sell your home due to your failure to comply with the mortgage agreement. Note, however, that the growing use of “short sales” should not scare you from contacting California home mortgage lenders about a loan. A “short sale” can put you in charge if you ever need to cut your losses.

Numbers, Numbers, Numbers

Before doing business with California home mortgage lenders, you should first look up the rates and Annual Percentage Rates, or APRs, of various California mortgages. Put yourself in the driver’s seat by filling out a short form to get the mortgage rates of several California home mortgage lenders. Some popular types of mortgages in California include the 30-year fixed, 5-year interest-only mortgage and the interest-only, 30-year fixed mortgage.

Let the Directory Direct You

Use a mortgage directory to get the mortgage rates of hundreds of companies. After finding the company with the perfect fit for your mortgage needs, give the company a ring. A ring will put you well on the way to making your dream a reality.

When Enough Is Enough

An issue that you must determine after contacting a California home mortgage lender is how large of a mortgage you should take out. Although California’s housing market is cooling, it is not completely ice-cold. Banks consider how much of a mortgage is within your budget, so you should think about this before borrowing as much as you want. Several online companies provide a mortgage calculator, so you don’t have to pluck figures out of thin air. Based on how large your loan is and its interest rate, the calculator determines the monthly payment you’ll have to make to a California home mortgage lender.

Truly, with California home mortgage lenders at your beck and call, there’s no reason for you not to be living the California dream. With the right loan, you can live large and live in leisure in California.

Looking for California home mortgage lenders? Visit our site today for resources about mortgage quote or a mortgage quoter.

Three Questions to Ask Yourself before Buying a Home!

Buying a home is a major financial investment decision, a decision that can be filled with much worry and sleepless nights.

Buying the right home, at the right time, and for the right price can strengthen your financial situation significantly. Buying at the wrong time however, could hurt you financially. So, the Universal Law of risk and reward proves true yet again.

Before you begin the process of buying your home consider the following:


1. How long do you plan on living in the home you purchase? If you are unsure about your future job situation, maybe the company is unstable, or if you are unhappy in your current job this might not be the right time to buy. If you buy now and end up moving before your home has had time to appreciate in value, it could cost you to sell. Check the appreciate rate in your area by contacting your agent. The national average is between 3% and 5% per year. At this rate, it’s a general rule that you should plan on being in your home at least 3 years in order to recoup your investment and cover the selling costs of your home and buying costs of a new home. The higher the appreciation value in your area, the less time you’ll need to be on the positive side buying/selling process. Pay close attention on the average over time and not to the spikes in the market.


2. Will the home you’re considering meet your needs in the future? If you’re planning on staying in your location for five years, consider what your needs will be for those five years. Are you planning on growing your family? What will your childrens needs be as far as space in three years. If you have three children and two are sharing a room now at ages 10 and 8, will they still be friends at ages 15 and 13 in five years if they are still sharing a room? Will you need an office space of your own to have a little privacy? Plan for growth!


3. What is your credit situation? Take some time and get a credit report from a credible reporting agency. The better your credit is, the more options you’ll have when choosing a lender. If your credit is questionable you will probably still be able to find a lender, but your interest rates may be high and simply get you into more debt. Don’t rush into a purchase. Get credit healthy first.

Dirk Zeller is the President & CEO of Real Estate Champions. His company trains more than 250,000 Agents worldwide each year.
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Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership

Product Description
According to the FBI, real estate fraud is one of the fastest growing white-collar crimes in the United States. From 2003 to 2004, reports of mortgage fraud jumped 146% and jumped another 28% from 2004 to 2005.With seven out of ten Americans owning their own homes, a huge number of people are potentially susceptible to this burgeoning crime epidemic. In Protect Yourself from Real Estate and Mortgage Fraud, real estate investors, professionals, and consumers will di… More >>

Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership

How To Make Yourself Look An Attractive Prospect To Mortgage Lenders

You may have heard about the massive rise in interest from potential first time buyers and homeowners looking to move home. With house prices falling and interest rates at historic lows the two combined has resulted in a huge rise in enquiries to estate agents.

The latest mortgage information in the news is despite increased demand in the mortgage market unfortunately supply still isn’t there. Mortgage lending in 2008 was at its lowest level since the 1970’s despite the pressure from the government to increase lending.

What can I do to get a mortgage?

As lenders are reluctant to lend the best course of action is to make yourself look like an attractive prospect. Understandably lenders don’t want to offer mortgages they deem unable to afford repayments.

The first thing you should do is run a credit check; there are three credit scoring companies in the UK used by the mortgage lenders. You can ask them for a copy of your credit file. Ensure there is nothing on your credit file that shouldn’t be there. If there is get in touch with the company concerned and ask them to remove it, they are obliged to.

Once your credit file is free from defaults and in good shape you’re ready to start your property search. You can first of all find a property you want to but or get an estimate for the price of the type of property you wish to buy to allow you to find out the mortgages and rates available to you.

Once you get to this stage whether you actively want to buy a home now or just see what is available to you, using a mortgage broker is hugely beneficial.

They can provide expert mortgage information on the market and what is likely to suit your circumstances. Many offer their services for free so there is no obligation to make an appointment.

The issue that is hardest for borrowers to overcome is the size of the deposit needed. Eighteen months ago you could get a mortgage with no deposit, now you need at least 10% and more realistically 25% is the normal.

Chris Borthwick writes articles covering a broad range of subjects. His main area of expertise is mortgage advice and writes many articles on mortgages for finance industry, mortgage brokers and for the general public.

How To Protect Yourself From Predatory Home Mortgage Lenders

Home mortgage lenders are, for the most part, the ordinary American’s stepping stone towards realizing the American dream. To many, buying and owning a home is the American dream. Because of the prohibitive costs of houses, however, very few have the resources to pay for the house of their dreams right there and then.

Still, buying a house remains a much wiser option than renting an apartment. When you rent, you are paying off someone else’s mortgage and are helping them acquire equity. When you buy a house, however, you not only acquire equity on your own, you will eventually own the home.

While on the lookout for home mortgage lenders, do not get blinded and sidetracked by fabulous offers of immediate assistance. You must remember that the home mortgage industry is an industry that rakes in billions of dollars per annum. It is, literally, a mother lode that attracts all sorts of miners and gold diggers.

To protect yourself and your hard-earned money, be cautious of the following:

1. Unheard of home mortgage lenders
Before dealing with specific home mortgage lenders, be sure you know everything there is to know about them. Ask for identification cards. Ask for licenses. Better yet, direct inquiries to the Better Business Bureau or the office of the State Attorney General. Another option is your town or city’s local association of home mortgage lenders. Should such a group exist in your neighborhood, it will be easy for you to ask them for a list of their members in good standing.

2. Astonishingly high or low rates and fees
Always shop for home mortgage lenders before focusing on one. This way, you can compare different loan providers and then pick the one offering the best deal. In your dealings with home mortgage lenders, however, be sure to watch for abnormally high mortgage rates and charges. Have them explain the credits calculation. Your many talks with different lenders will help you anticipate the average rates that different home mortgage lenders are willing to give you. Also, be sure to inquire about hidden charges. Unscrupulous lenders gloss over this in their presentation and hide this in small print in your contract.

3. Abetting of unscrupulous practice
If your lender asks you to provide false data on your application form, be very wary. If there’s one thing legitimate home mortgage lenders advise you to do, it is to be painfully honest in filling out your application form. A predatory lender, on the other hand, will request that you state down a higher income than is factual, or overstate the span of your employment. He will try to convince you that everyone does this. Do not believe him. People may be sent to prison for falsification of documents.

4. Insistent requests for signatures on blank documents
Signing blank documents is a sure recipe for disaster. You don’t have to be a lawyer to figure this out. Should your lender shove a blank document in your face and ask you to sign, firmly and politely refuse to do so. This is not industry practice. It never will be. After all, with a blank document, you will never know what you are signing away.

Vigilance is the key to protecting yourself and your future home from embezzlers. Never do anything rash where taking out a mortgage is concerned. Remember what an old proverb says about doing things without taking the time to examine them first. What you do in haste, you will eventually repent in leisure.

Want to learn more about home mortgage lenders? Visit our site today and get access to various home loan lenders to find the best mortgage quote.

Stimulus Spurs Inflation – Protect Yourself By Buying A Home

“Buying a home is more advantageous today than ever before,” encouraged my next door neighbor who was also a real estate agent. My first thought was yeah right! With the market in such a depressed state you are just desperate to make a sale. That was 1982. He was both right and wrong. He was right because the little 3 bedroom, 1 bath house I bought in 1982 for $100,000 is now worth $450,000 even at today’s recession prices. That is an incredible increase of 350%. But he was also wrong. Are you wondering why? He was wrong because this current economic crisis has created an environment that may never be duplicated in another 100 years. Here is what I mean. Have you been watching the news? Are you reading today’s headlines? Our government is injecting trillions into what will hopefully end the recession and result in a national recovery. The economic stimulus bill is designed to guard against depression. Many Americans are asking this question. Where is the money for economic recovery coming from? Money for the stimulus package comes from you and me in different ways. The federal government has to borrow the money from its citizens by selling debt in the form of US Treasuries and Bonds. In addition local and state governments raise taxes and charge higher fees. But when the government borrows money by going into debt, inflation is triggered. When state and local governments increase fees such as sales tax, or gas tax, the cost of living rises. Inflation means that the cost of items we enjoy, use and need every day will become more expensive. Rents which are susceptible to inflation will not get more affordable. So how do we protect ourselves from what is inevitable? One way is by buying a home and locking in monthly house payments at current mortgage interest rates. Right now renting may seem cheaper than buying a home but over time rents are going to increase partly because of demand and partly because the dollar is going to be worth less. We are already seeing an increase in rental demand due to mortgage foreclosures. The decrease in the value of the dollar will come later. Here in lies a big mistake that many people are going to make. Thinking short term. Renting versus buying a home seems like a better deal right now. But if you want to protect yourself and your family from the effects of inflation, you want to start thinking long term instead. This is the point. Even if the rate of inflation remains fairly tame, rents are still going to rise. In addition current mortgage interest rates are not going to remain at historical lows forever. The Federal Reserve will have to manipulate interest rates higher in order to starve the coming inflation. Because the price of buying a home has hit near bottom, real estate prices too will rise. In another 5 years, the value of houses will have increased and the low daily mortgage rates we enjoy today will follow. Do you want to make sure your family is protected from the coming inflation? Even better, don’t you want to take advantage of it? The best way is by buying a home. Here is my prediction. There will never be a better opportunity during your lifetime for buying a home than right now.

Kate Ford, an experienced mortgage insider, understands how important the best mortgage rate is to homeowners and home buyers alike. Her website Get Your Best Mortgage Rate focuses on getting the best fixed rate mortgage. All information is free so make the decision to discover peace of mind with the best fixed rate mortgage today.