Mortgage Information

If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.

There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.

I would be happy to refer you to some very good mortgage contacts I have in the Sacramento, Placer,Yuba, and Sutter areas,  to help you to secure the best possible rate for your home purchase.

If it's all in the details, as some may say, those tiny elements are certainly

magnified when you're dealing with something as big as a home

mortgage loan. Lack of attention to those details can cost consumers

thousands of dollars.

We suggest that you get answers to five questions before proceeding

with a mortgage loan application, including:

1. Are interest rates for the life of the loan, fixed, adjustable or a

combination?

2. Is there a balloon-payment requirement?

3. Is there an early-payoff penalty?

4. When is a copy of the federally required truth-in-lending disclosure

and good-faith estimate required?

5. Are copies of closing documents available before the closing date?

For mortgage loan applicants with adjustable or fixed/adjustable loans,

they should also ask:

6. What is the index and the margin?

7. What is the index and margin based on today's rates?

8. What are the maximum and minimum interest rates to which a

loan can adjust?

9. How often or when can rate changes occur?

 

Use the mortgage calculators below to assist you in making some decisions around financing your new home.

Mortgage Qualification Calculator

This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.

Mortgage Payment Calculator & Amortization Table

This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.