If you are looking to purchase a home and you need a Realtor, I have many trusted and proven realtors that will suit your needs and get you into the home of your dreams!
Getting a Home Loan
Buying a new home is a major milestone in every individuals life. However, finding the perfect space is just the tip of the iceberg. The most important decision you will make towards buying a new home is choosing an appropriate home loan. Chris and Lee Duran the Financeman – Loan Officers bring you a guide to help you get started on the home loan process, especially if you live or want to live in Corona, California or Rancho Cucamonga, California. There are 3 pillars in the loan process, Credit, Income, and assets. The reason credit is the first pillar is that a low credit score can be a hard stop. We will have to fix the situation before we move on to the next pillar. The next pillar is income and this is mostly straight forward (sometimes). We calculate income over 2 years or sometimes 1 year.
Once you and I talk we will find out the information to get your home loan process started. We will talk about the different loan programs and the program that is right for you. We will discuss the FHA loan the Conventional loan, and if appropriate the VA loan. We will also talk about your credit and if needed we will discuss a plan to fix your credit.
Start Saving
Establish a monthly budget for you and your family to make it easier to set aside an amount regularly for the down payment of the loan. After you have finalized your budget, you can figure out the amount you’ll need to save enough money. An easy way to ensure you don’t end up spending more than you intended on is to have some money deposited automatically to a saving account, especially if you live or want to live in Corona, California or Rancho Cucamonga, California.
Analyze Your Credit Score
Get a copy of your credit report before you apply for a loan. A good credit score improves your chances of finding the best loan deal. The report will also show you what your profile looks like to loan officers and potential lenders. It also gives you an idea of what steps you can take to boost your score if needed.
Organize all Financial Documents
The mortgage application requires quite a few financial documents to be attached in support so the lender can begin processing the application. If you already have all the documents organized, the processing time on your application will decrease. The minimum documents Chris and Lee Duran “the Financeman” Loan Officers require are your last two paychecks, the most recent W-2, tax returns for the past two years and all current bank statements.
Get Pre-qualified
Real estate agents usually prefer if clients are pre-qualified for a home loan before they begin showing them houses. Mortgage prequalification is a fairly simple process which only requires a few financial details such as income and also your savings and investment details. Once you get pre-qualified, it will be easier to identify the maximum amount you are eligible to borrow and the price range for your potential home.
Discover Your Options
Every person has their own unique requirements when it comes to home loans. If it worked for your parents or friends, does not mean it is the right option for you. Some people prefer a fixed-rate mortgage while others are more comfortable with an adjustable rate. Chris and Lee Duran “the Financeman” Loan Officers examine your requirements and find a suitable home loan for you.
Keep in Touch
After applying for a mortgage, the time it takes to process the paperwork depends entirely on your promptness. The faster you act on the loans items requests the faster you will be able to own your own home. A long response time could delay the loan process and postpone your plans of buying a property and make you lose your deposit as well. Be responsible and alert so you do not miss out on the chance to buy your dream home.
Chris and Lee Duran “the Financeman” Loan Officers provide the best mortgage services to help you own the house of your dreams.
If you are wanting to refinance your loan, Lets find out who owns your loan!!!
Here are the players in the loan business
1) the Loan Originater (me) NMLS 944254.
2) The Lender (this is usually the bank that lends the money)
3) The Servicer (this is the entity that you make your payments to)
4) The Investor (this is the entity that actually owns your loan) Fannie/Freddie/FHA/VA/Portfolio loan/Private investor/Hedgefund/Mortgage backed security.
First step in checking to see if you can get a better rate is to find out your current rate and term.
You already know that you say… well then lets get to then next step.
That would be finding the investor on your loan… you know that also???
I bet your wrong…
Bank of America you say…
Wells Fargo you say…
Chase you say…
Allied you say…
These are the lenders and most of the time they sell your loan off within days/months, heck even minutes…
But you still pay them ??? What???
The largest Owners of loans in america are Fannie Mae,Freddie Mac, FHA, and VA.
It is simple to find out who owns your loan
FANNIE MAE
http://www.knowyouroptions.com/loanlookup
FREDDY MAC
https://ww3.freddiemac.com/corporate/
VA
Awwww… commmonnnn, you know if your VA.
FHA
ahhhh… that one is tricky.
You need me now, actually I think you need me anyway but these are tools for you “do it your selfers” so we can talk like you know the business a little.
At least that is what I do when I go to the DR., armed with my extensive google search and my firm diagnosis, I usually tell the Dr what is wrong with me and I am a bit annoyed that I have to go to him to get the prescription… “Jeezeee already…. I googled it 3 time DR., I know I am right”.
My Dr. shrugs and goes to work like a true professional, and I will do the same for you.
Did I warn you that I have a sense of Humor also…
Ohh Yea… That too…
Contact me at: 1-323-717-1144.
Lee Duran the finance man
NMLS #944254
Facts that you might be interested in if you are going to check me out to see if I am on of those “evil finance guys”.
I got my securities license in 1992 CRD# 2447141
(crd non-active)
Insurance Health/Life License #OD94317 03/26/2003
(active and in good standing)
Insurance Property/Casualty License #OD94317 04/27/2006
(active and in good standing)
Real Estate License #01505735 06/13/05
(active and in good standing)
Notary Public License #15661305 03/02/01
(non-active)
NMLS License #944254 2012 and of course
(active and in good standing)
There!!! now you can tell your Wife/Husband that you checked me out and you think you will go with this Lee Duran loan guy that calls himself “Lee Duran the Finance man”.
See, … I already saved you some grief-
call me.
Contact me at: 1-323-717-1144
I have a business partner name Chris Dominguez and we have an amazing staff