Coastal La Jolla Funding offers California home loans at the best mortgage interest rates available in the state. We have a professional team of California home mortgage loan specialists located in La Jolla, California, prepared to work for you. We quote only the most competitive mortgage rates available for a California loan, helping you to make the best decision. If you need advise or help with a California home loan, don't hesitate to make the call. We specialize in:
· California Home Loans
· California Home Equity Loans
· Californian Mortgage Loans
· And Home Loan Refinancing
· California Mortgage Interest Rates
Pre-qualifying with Coastal La Jolla Funding for a real estate loan in California is easy, fast and getting started is just a click away. For a free consultation from one of our licensed professional loan officers choose the type of loan you are looking for information on or click here to schedule a no-obligation consultation over the phone.
Refinancing an existing California real estate loan. Why refinance? The lower the rate, the less it costs you for the money that you borrow. As a general rule, if the interest rate is two points lower than what you are currently paying, it's time to refinance. However, something to consider is the length of time that you plan to own your residence. You want to be certain that the cost to refinance will be recovered over the remaining term of the loan; that is, not the number of years left on your current real estate loan in California, but the remaining number of years you intend to own the property.
Although your monthly savings on your new real estate loan may be substantial, you will incur some closing costs. Typically you can count on up to 2-3% of the new California loan amount in closing fees in addition to title insurance. Your lender will estimate your closing costs for you. To justify refinancing, your closing costs must be recovered over the life of the new real estate loan. By dividing the closing cost by the number of months you plan to own your home and add the result to the new monthly principal and interest payment you will determine if you "break even". If the resulting amount is less than your current mortgage payment, it is time to refinance.
You may also consider taking "cash-out" to payoff other debts or to invest. In this case you will need to determine that the cost to refinance is worthwhile in order to payoff those debts or invest in other markets. Consider not only the closing costs associated with refinancing, but the points you will pay for a lower rate and funds associated with paying off your existing loan. Ask one of our real estate loan consultants to compare your expenses for various loan programs. In most cases you will be eligible for differing California loan programs so be sure to consider all of your options.
California Jumbo Loan: The second main type of real estate loan in California is a jumbo loan. This type of loan does not conform to the guidelines established by Fannie Mae or Freddie Mac or exceeds the conventional loan limit is called a Jumbo mortgage loan. These loan amounts can go up to ten million dollars. Loan to value limits for Jumbo loans range from 50% to 95% depending on the loan amount.
Currently $333,700 - $10,000,000
1.) California Jumbo Fixed Rate - Fixed rate mortgage in a variety of terms up to $10,000,000 loan amount.
2.) California Jumbo Six Month Treasury ARM - Six month adjustable rate mortgage that adjusts semi-annually afterward for loan amounts to $10,000,000.
3.) California Jumbo One Year Treasury ARM - One year adjustable rate mortgage that adjusts annually for loan amounts to $3,000,000.
4.) California Jumbo 3/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $10,000,000 that has a fixed rate for the first three years and adjusts annually afterward.
5.) California Jumbo 5/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $10,000,000 that has a fixed rate for the first five years and adjusts annually afterward.
6.) California Jumbo 7/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $10,000,000 that has a fixed rate for the first seven years and adjusts annually afterward. Ask one of our loan consultants to compare your expenses for various loan programs. In most cases you will be eligible for differing loan programs so be sure to consider all of your options.
LOAN-TO-VALUE
Residential Properties and Refis: Up to 100% financing available
Commercial Properties: Up to 75% financing available
TERMS: Flexible loan term up to several years or more
CALIFORNIA HARD MONEY LOAN TO VALUE: Loan amounts can be up to 50-75% of the market value of the collateral, based on the estimated cash sale price given a 90-120 day marketing time. If the loan is used for renovation or construction, the loan amount can be based on the improved value, and would be disbursed in stages.
LOAN SIZE FOR REAL ESTATE IN CALIFORNIA: From $250,OOO to $20 Million
COLLATERAL: Real estate and other fixed or liquid assets are typically need to qualify for a real estate loan in California.
Coastal La Jolla Funding provides real estate loans in California that are uniquely tailored to fit the specific needs of our clients. Best of all, we works quickly and efficiently, often providing secured California real estate loans in the time it takes most brokers just to call back.
For our California real estate loans, Coastal La Jolla Funding normally lends 50% - 100% for residential properties.
Repayment on a California real estate loan normally runs up to 20 years, although this will certainly differ based on loan specifics. Interest rates on our standard California real estate loan is variable and individual loans are quoted either at a discount or premium to our base lending rate. The discounts and premiums primarily depend on your financials and collateral.
For more information on our California real estate loans, you may reach us at:
office phone: (858) 456-2423
office fax: (858) 225-3683