Month: December 2020

California lenders, customer care and options

Money Mart in Long Beach, CA
When you decide to buy a home or refinance a mortgage, it is a big step. You can trust us to find the loan program that best suits your particular financial situation.

Buying a new home is a source of anxiety, frustration and a huge sense of accomplishment. You did not select the house that was best for anyone; you picked the home that is right for you! Trust our professionals to find the mortgage loan that best fits your needs, too. With less paperwork and more personal attention means you enter a stress-free zone from application to decision. Obtaining the right mortgage loan is like receiving the keys to your new house! We can help you get there.
Money Mart California
Refinancing your current mortgage has never been easier. If you thought refinancing meant processing mounds of paperwork, think again! We make it easy and worry-free to reduce your interest rate and monthly payment. We can even help you pay down your balance quicker for comparable monthly payment. Let our professionals guide you to the very best refinanced loan!

Our mortgage professionals give you the personal attention and respect we feel our customers deserve. We understand you are making a commitment in buying a new home, refinancing and mortgage or cashing out your home equity, so we make a commitment to you. We will help you qualify, apply and be approved for the right mortgage loan for you. Not anybody else!

Your Money Mart in Long Beach, Where Service an Rate Matters!

Cash One in Modesto, CA
We will custom tailor a mortgage to fit your needs. Get pre-approved first before you shop for a home and know that you can afford the home that you fall in love with, before you fall in love. Let our Home Loan Experts identify the best option for your situation or custom-tailor a mortgage, specifically for your financial needs.
Cash One in California
We offer low, low rates and we compete with anybody. If you do not have any money to put down, it is not a problem because we offer zero down programs. With various home purchase options, you can obtain a very low payment with interest only loans, get a lower fixed rate for three or five years, no documentation loan, no proof of income and for first time home buyers, we offer a zero down payment option.

Consolidate your debt to reduce your monthly expenses with a locked fixed-rate mortgage with a low rate to lower your monthly payments. Lower your term to a fifteen (15) year loan to save interest; you would be amazed that the payments are affordable. Switch to an interest only loan or a loan with a shorter fixed term and save hundreds per month.

Imperfect Credit Programs

An imperfect credit program is really just a lender who is willing to issue loans to people with a poor credit score and/or a history of bad credit or a bankruptcy in their backgrounds. Banks and brokers who issued all those “subprime” loans that are making headlines these days are examples of people in the loan business who have imperfect credit programs. Perhaps its unfair speculation, but it may be possible that all these defaults on subprime loans are more the responsibility of the lender than the borrower. The professionals that issued these loans knew exactly what they were doing. They were aware that people with a history of financial difficulties are not good candidates for mortgages that effectively put them in over their heads.

So let’s define an ‘imperfect credit program’ as one that balances the financial capacity of the borrower with the loans, the rates, and the loan costs that are available. An effective imperfect credit program should be one that helps keep the borrower right side up on the loan instead of putting him/her in a position that will be untenable once the ARM they’ve taken on adjusts.

Loan companies that make their marketing theme “bad credit OK” probably aren’t the best choice when you’re shopping for a loan. These are companies that find high risk acceptable; that means that they are willing to accept a certain level of default and are going to charge a premium price for a loan because that’s their goal – sell the loan regardless of the client’s worthiness or ability to pay over the long term.

Loans issued under bad credit programs can also tend to have some unsavory clauses tucked into the fine print. You may find a substantial penalty for prepayment. If you take out a mortgage at 11% and five years later you’ve improved your credit rating to the point that you qualify for a better deal, it should not cost you thousands to retire your original mortgage. A quality “bad credit program” should not make prepayment penalties mandatory.

People with good credit are just as susceptible to borrowing over their heads as people with bad credit. However people with good credit are more likely to be able to refinance out of an overextended financial situation than people with a mixed credit history. So a good “bad credit program” should provide advice to the potential borrower on the impact of the loan that he/she is seeking. Can you manage the monthly payments once the ARM adjusts? Are you planning to refinance out of this loan at some point? These and similar issues should be addressed in a bad credit program.

Loan brokers and bank officers who see potential problems for the consumer should spell them out and keep the discussion firmly rooted in reality. Find a loan provider who will tell you what he/she thinks your limits are.