The Newport Bay Mortgage Team is your premier mortgage team located in Santa Ana, California. Newport Bay Mortgage offers some of the lowest rates nationwide making the loan process simple, straightforward and fast for borrowers seeking a mortgage in the Santa Ana area.
Whether you are first time home buyer, purchasing your dream home, refinancing an outstanding loan, or consolidating debt, the highly experienced team of mortgage brokers here can help you take that first step toward a financial solution.At Newport Bay Mortgage, the ultimate goal is to create lasting relationships with each and every client and to continue providing excellent service for many years to come.
Whether you are first time home buyer, purchasing your dream home, refinancing an outstanding loan, or consolidating debt, the highly experienced team of mortgage brokers here can help you take that first step toward a financial solution.At Newport Bay Mortgage, the ultimate goal is to create lasting relationships with each and every client and to continue providing excellent service for many years to come.
Services
The Newport Bay Mortgage team is committed to providing clients with the highest quality financial services combined with the lowest rates available in your area. The outstanding mortgage professionals here will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs.
Conventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate. While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options of 3%.
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes. Typically Jumbo Loans require a higher down payment than traditional loans.
A VA Loan is Designed to offer long-term financing to veterans. VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. Veterans home loans subject to area 100% purchase or financing. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice.
One of the first choices a homebuyer will need to make is whether you want a fixed-rate or an adjustable-rate mortgage loan. The bulk of loans will fit into one of these two categories, however, there is a third option that will allow you to "hybrid" the two. An adjustable-rate mortgage, (ARM): The interest rate of the mortgage adjusts periodically based on market conditions.
