West Coast Financial is a full-service mortgage brokerage firm with over two decades of real estate lending experience in California. On staff are loan officers with over 20 years experience in the industry, and connected to hundreds of lenders and their many offerings of loan products; West Coast Financial is well equipped with the latest lending technology and resources to get your loan requests met in the quickest possible time frame.
We have been in mortgage lending since 1989 and have served countless of California property owners with their real estate financing needs. We are well versed in all conventional financings as well as government loans and commercial lending. Hence, whether it is a purchase or a refinance loan, we have the right experience and the work ethics to get the job done right.
We have been in mortgage lending since 1989 and have served countless of California property owners with their real estate financing needs. We are well versed in all conventional financings as well as government loans and commercial lending. Hence, whether it is a purchase or a refinance loan, we have the right experience and the work ethics to get the job done right.
Services
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime. Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
The traditional fixed rate mortgage is the most common type of loan program, where monthly principal and interest payments never change during the life of the loan. Fixed rate mortgages are available in terms ranging from 10 to 30 years and can be paid off at any time without penalty. This type of mortgage is structured, or "amortized" so that it will be completely paid off by the end of the loan term.
Adjustable Rate Mortgages (ARM)s are loans whose interest rate can vary during the loan's term. These loans usually have a fixed interest rate for an initial period of time and then can adjust based on current market conditions. The initial rate on an ARM is lower than on a fixed rate mortgage which allows you to afford and hence purchase a more expensive home.
Hybrid ARM mortgages, also called fixed-period ARMs, combine features of both fixed-rate and adjustable-rate mortgages. A hybrid loan starts out with an interest rate that is fixed for a period of years (usually 3, 5, 7 or 10). Then, the loan converts to an ARM for a set number of years. An example would be a 30-year hybrid with a fixed rate for seven years and an adjustable rate for 23 years.
HARP 2.0 is a refinance option for homeowners that are "underwater, " meaning they owe more on their home than their home is worth. In order to be eligible for the HARP 2.0 refinance program, you must meet certain criteria. Firstly, you must not have refinanced through the original HARP program.
You need to be current on monthly mortgage payments with no late payments over 30 days due in a minimum of 6 months, and no more than one late payment in the previous 12 months.Your loan to value (LTV%) must be at least 80%. The purpose of HARP is to allow homeowners who owe a mortgage that is more than the value of their home a more affordable and stable mortgage.
You need to be current on monthly mortgage payments with no late payments over 30 days due in a minimum of 6 months, and no more than one late payment in the previous 12 months.Your loan to value (LTV%) must be at least 80%. The purpose of HARP is to allow homeowners who owe a mortgage that is more than the value of their home a more affordable and stable mortgage.
Reviews
Be the first to review West Coast Financial.
Write a Review
