Monday, August 27, 2012

What is a mortgage broker? Best mortgage rates in Los Angeles


Bill Rayman, Los Angeles Mortgage Broker
How can our broker help you get the best mortgage rates in Los Angeles?
A mortgage broker is a company that has relationships with lenders in much the same way that an independent insurance agent does with many different insurance providers. These relationships allow mortgage brokers to receive offers of mortgages at wholesale prices. As a result, brokers can offer lower rates, often the lowest on the market. By going with the lender offering the best rates on a particular day, the mortgage broker helps their clients get more for their money.

The broker may also choose to operate on lower margins or profit than banks and lenders. Good brokers remain up-to-the-minute on on an array of products from their providers. Direct lenders have only a limited number of loan products available.

The broker handles all of the processing of the loan. Since Mortgage Capital funds most of its own loans, it usually underwrites them as well.
At a traditional bank, the employees work for the bank, not for you. As a result, in difficult situations a direct lender is likely to just turn you down, and leave you on your own to solve the problems. Experienced brokers have a fiduciary responsibility to their client and will work to find a way to meet their needs.

Saturday, August 25, 2012

What is short pay refinance?

Bill Rayman, Los Angeles refinance expert discusses short pay refinance.
If your credit is good, and you are underwater on your mortgage, you are probably wondering what options are available to you. Do you have to short sell your house? Do you have to foreclose? What about loan modification? Do you qualify for government bailout help? For some home owners, none of the traditional options seem to offer an adequate solution. Many throw up their hands and walk away from the home they worked for.
Short pay refinance may be an option for home owners who are under water and want to protect their credit. This option is not well known, but Bill Rayman can help you understand if this is the right option for you, how it works, and get you started on moving forward with this process.
In this 9 minute video, Bill Rayman explains short pay refinance in common language. If you want to know more about this and other options to refinance in Los Angeles, contact us today.

Tuesday, August 21, 2012

Mortgage rates up this week: mortgage rates Los Angeles


As experts on the mortgage rates in Los Angeles, we regularly post updates on our blog to keep our clients informed about current national mortgage rate trends. For many weeks this summer, that trend has been a pretty steady decline. This week showed a change, as real estate website Zillow today reported that there has been a rise in the last week. 
This week, Zillow's user-submitted data showed that the 30 year fixed mortgage rate rose to 3.5% from 3.42% last week, reaching its highest point in 10 weeks. The rate hovered between 3.4% and 3.6% throughout this week, settling at it's current rate this morning. 
Zillow reported the rate on Mortgage Marketplace for a 15-year fixed home loan was 2.82%, up from 2.76% a week earlier. The rate for a 5-1 adjustable-rate mortgage slipped to 2.38% from 2.4% last week. A 5-1 ARM has an initial rate that applies for the first five years of the loan and then adjusts annually.


Monday, August 20, 2012

Do I need a 20% down payment? mortgage rates Los Angeles


In this short video, mortgage expert Bill Rayman describes the difference between FHA loans in Los Angeles which may only require 3% down payment, and the benefits of a 20% or more down payment. He briefly covers the role of mortgage insurance, which is required on loans where you put less than 20% down. (Mortgage insurance is covered more in depth in this video.) 
Bill Rayman offers comprehensive and credible information about the mortgage loan process in Los Angeles, so that buyers can avoid mortgage loan scams and make sound financial decisions for the future. If you need help navigating the mortgage loan process, contact us for a consultation.

Saturday, August 18, 2012

How to calculate your mortgage pay off options

Bill Rayman offers professional consultation to help you get the best mortgage rates in Los Angeles. In this 4 minute video, Bill answers the question: what is the best mortgage pay off option for me? 
In plain language, he describes the difference between paying the discount fees to a bank to buy down your interest rate, and making accelerated loan payments, and talks you through how to calculate which is in your best interest. 
If you are looking to buy or refinance in Los Angeles, talking with an experienced and credible mortgage broker may help you to save money and avoid financial mistakes or predatory lending in the mortgage loan process.

Wednesday, August 15, 2012

Mortgage rates down this week- Los Angeles mortgagebroker


We regularly report the latest national mortgage rate news on our blog, for our clients to be informed about the context of mortgage rates in Los Angeles
Real estate website Zillow Inc. reported today that the rate on 30-year fixed mortgages in the U.S. slipped in the last week, but remained in the same tight range it has been in for the past few months. Zillow's real-time mortgage rates are based on average custom mortgage quotes submitted daily to anonymous borrowers through the company's website.
The 30-year fixed mortgage rate on its Mortgage Marketplace, based on real time reporting, dropped to 3.42% from 3.44% a week earlier. The rate hovered between 3.38% and 3.47% throughout the week, hovering above it's  all-time low of 3.34%, which it hit in July. Rates have remained in a tight range between 3.34% and 3.5% for nine consecutive weeks. Zillow's report today said the rate for a 15-year fixed home loan was 2.76%, down from 2.79% a week ago. The rate for a 5-1 adjustable-rate mortgage was 2.4%, also down from 2.46% a week earlier. 

Thursday, August 9, 2012

Non-US-Citizens can get a mortgage loan!

Afraid you can't get a loan? Bill Rayman, Los Angeles mortgage rate expert, lender and broker, explains simply how a resident of the US who does not have citizenship, or someone living overseas, may still qualify for a mortgage loan. 
If you are not a citizen, but are considering purchasing property either for yourself or as an investment property, Bill Rayman has expertise, and access to specialized loans. 
Because this is a special situation, you may especially benefit from working with a mortgage lender/broker like Bill Rayman. If you are located in the Los Angeles area, or looking to buy here, give us a call.

Tuesday, August 7, 2012

Mortgage rates rising after 13-week plunge




If you have been considering buying or refinancing in Los Angeles, you may have been watching as average U.S. mortgage rates have been falling to new record lows week after week for the past few months. The current rates reflect the lowest we have seen since long-term mortgages began in the 1950's.
But this week, the trend finally showed an upward change. On Thursday, the 30-year loan jumped to 3.55 percent up from 3.49 percent last week, reported mortgage buyer Freddie Mac. The average rate on the 15-year fixed mortgage, a popular refinancing option, jumped from 2.80 last week to 2.83.
Mortgage rate experts are all weighing in with their predictions on whether this trend will continue, but what we know for sure is that it is still an excellent time to consider buying or refinancing your home. As a mortgage broker, we help people find the best rates and navigate the process, so give us a call before you buy or refinance. You don’t have to figure it out alone.