15-Year & 30-Year Calif. Mortgage
Loans
Meet receptionist Michelle Collucci.
Yes, we do 15-year & 30-year
Calif. mortgage loans!
Prior
page of the interview.
On
a shorter-term loan, say 10, 15 or 20 years, instead of a standard 30-year
term, will the interest rate change, with everything else being equal?
Yes, interest rates could be lower for
a shorter-term loan. Obviously, the payment will be higher if it's a fully-amortized
loan. But the rate will be marginally lower than a 30-year fixed-rate
loan. There are very few, if any, 10-year loans out there. There are some
15-year loans. The difference in the payment between a 15-year and 20-year
loan will be so small that it doesn't justify its own product category,
so lenders tend to go from 15 to 30. Those are the two most common amortization
periods, with 30 being overwhelmingly the most common. Most people can't
afford a 15-year amortization. The payments are just too high.
After that, we get into adjustable rate
mortgages. They are amortized over 30 years, but the term that the rate
is fixed is typically set for two, three or five years, three years, and
10 years, and so on. So after, say, five years with a rate at 6.5%, for
example, that interest rate will adjust, either up or down, depending
on the prevailing interest rates at the time.
Next
page of the interview.
Menu
1. Homepage
for California
Mortgage Home Loan Brokers, a Los Angeles Mortgage Company.
2. Introduction
to your California Home Loan Lender: Our Promises to You.
3. Meet
Your California Home Mortgage Lender.
4. 15-Year
& 30-Year Calif. Mortgage Loans.
5. The
Difference Between a California Mortgage Broker & an Institutional
Bank.
6. California
Loan Closing, Points & Fees.
7. Locking
In California Mortgage Rates.
8. Real
Estate Purchase, Mortgage Refinancing, Sub-Prime Loans, Seconds,
Home Equity, Hard Money, Bad Credit, Construction & Commercial
Lending.
9. We
Broker Mortgage Loans for Northern, Central & Southern California.
10. Reputation
& the California Mortgage Lender.
11. Be
Wary of Unscrupulous California Home Lenders.
12. A
Southern California Loan Brokerage Horror Story.
13. Attentive
Service From This California Mortgage Company.
14. Are
We Your Kind of California Home Mortgage Company?
15. Real
Estate & Mortgage Information Links
Play
our videos! These are in Windows Media
format. You should be using a broadband connection for best results.
Find out who we are and what we can do for you!
1. A
Brief Introduction to Our Company (4:33 minutes, 10.2MB file
size.)
2. Why Use a Mortgage Broker
Instead of Your Bank? (2:22 minutes, 7.10MB file size.)
3. How to Work With an L.A.
Broker if You Live Outside Our Area (2:09 minutes, 4.94MB file
size.)
Mortgage
application! Apply for your mortgage online
using our Secure Server! On the pull-down menu, please select: "Mike
McKown." Thank you.
California
Mortgage Home Loan Brokers Online Application.
Localities!
Our service area includes:
1.
We
are Los Angeles Mortgage Brokers, Call for Your Los Angeles Home
Loan.
2. Your
Mortgage Brokers for Irvine, Santa Ana, Orange, Tustin & Other
Orange County, CA, Locations.
3. For
a Great San Diego Mortgage Broker, Give Us a Call.
4. Let
Us Be Your San Francisco Mortgage Broker.
...As well as the REST of the Golden State!
|
California Mortgage Home Loan Brokers,
a Los Angeles mortgage company
Attn: Michael McKown
16027 Ventura Blvd. Suite #500
Encino, CA 91436
818-841-0051 Local
888-632-9939 Toll Free
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