Serving the San Gabriel Valley and the Inland Empire

Although a 30-year fixed-rate loan is considered the sensible, conservative loan type, some borrowers still are getting or keeping adjustable-rate loans, which have even lower interest rates than 30-year fixed loans.   Adjustable-rate mortgages generally attract borrowers when interest rates are high.  The rate ...

Mortgage rates are still relatively low, and with an abundant supply of inventory, house hunters have plenty of opportunity.  Nevertheless, the changed housing market has brought new aspects to consider when looking to purchase a home.   During the peak of the current housing cycle, developers began ...

Understanding the mortgage process and meeting lenders’ more stringent qualification requirements have become big obstacles for applicants, according to a survey by MortgageMatch.com.  More than 70 percent of recent buyers surveyed described the mortgage approval process as more difficult than they expected. A vice ...

Buying a home can be time consuming.  One way to save time is by organizing all the necessary documents most lenders require, such as those that prove employment and income. Typically, lenders want two recent pay stubs, two years of tax returns, bank statements, proof of assets, such as 401(k) and trusts, and debts, such as ...

The monthly savings of buying looks enticing: Assuming a buyer makes a 20 percent down payment on a house, and finances the property with a 30-year fixed rate mortgage at 4.62 percent on a median-priced home of $301,430, the monthly mortgage payment would be $1,590.  By comparison, the median rent on a three-bedroom two-bath ...

The U.S. mortgage-lending landscape has changed from the height of the real estate cycle, when many lenders generously offered zero-interest terms and no-down payment loans.  Now, the situation is much different.  Most lenders have more stringent lending guidelines, and now require more documentation from ...

When shopping for a mortgage, some home buyers shy away from getting multiple loan quotes, fearing their credit will be impacted when multiple parties check their credit within a short period of time.  However, consumers have 30 consecutive days in which multiple pulls of a credit score, or “rate shopping,” ...

Getting a mortgage is a complex, time-consuming process that is generally one of the most significant events in one’s life.  Because of this, there are several potential pitfalls borrowers should avoid. Applying for new credit and a mortgage simultaneously is never recommended.  Anytime a borrower applies for new ...

Currently, if a homeowner defaults on a mortgage used to purchase his or her home -- known as a "purchase money mortgage" -- the homeowner's liability on the mortgage is limited to the property itself. Unfortunately, the original law did not extend the purchase money protection to loans that refinance the original purchase debt, even ...

Many lenders currently require down payments of 20 percent or more. One benefit of larger down payments is that the borrower owes less money and usually receives better terms on the mortgage loan. If the down payment is less than 20 percent, most lenders require the borrower to purchase private mortgage insurance, depending on the nature of the ...