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Loan Products information provided by Los Angeles Real Estate Mortgage and Home Loans. Los Angeles Real Estate Mortgage and Home Loans are the mortgage brokers of choice
in Los Angeles, California. As a licensed mortgage
broker Los Angeles Real Estate Mortgage and Home Loans can provide the lowest
interest rates on mortgages and home loans in Los
Angeles County. We shop over 250 lenders to guarantee
you the best terms for refinance loans, 2nd Mortgages,
Debt Consolidation, home improvement and home equity
credit line loans and pre-qualifying 1st time home
buyers for a LA home loan.
| Fixed rate
mortgages |
The most common type of mortgage program is where your monthly payments for interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable.
Fixed-rate mortgages are available for 30
years, 20 years, 15 years and even 10 years.
There are also ""bi-weekly""
mortgages, which shorten the loan by calling
for half the monthly payment every two weeks.
(Since there are 52 weeks in a year, you make
26 payments, or 13 "months" worth,
every year.)
Fixed rate fully amortizing loans have two
distinct features. First, the interest rate
remains fixed for the life of the loan. Secondly,
the payments remain level for the life of
the loan and are structured to repay the loan
at the end of the loan term. The most common
fixed rate loans are 15 year and 30 year mortgages.
During the early amortization period, a large
percentage of the monthly payment is used
for paying the interest . As the loan is paid
down, more of the monthly payment is applied
to principal . A typical 30 year fixed rate
mortgage takes 22.5 years of level payments
to pay half of the original loan amount.
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| Adjustable
rate mortgages |
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These loans generally begin with an interest rate
that is 2-3 percent below a comparable fixed rate
mortgage, and could allow you to buy a more expensive
home.
However, the interest rate changes at specified intervals
(for example, every year) depending on changing market
conditions; if interest rates go up, your monthly
mortgage payment will go up, too. However, if rates
go down, your mortgage payment will drop also.
There are also mortgages that combine aspects of
fixed and adjustable rate mortgages - starting at
a low fixed-rate for seven to ten years, for example,
then adjusting to market conditions. Ask your mortgage
professional about these and other special kinds of
mortgages that fit your specific financial situation.
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| DEBT
CONSOLIDATION! |
Our debt consolidation services can help
you rest peacefully at night, by offering you a well
rounded suite of solutions, custom tailored to fit your
personal financial needs.
Our reliable and efficient debt consolidation services
will assist you in taking a new step towards becoming
debt-free.
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| FHA
LOANS |
FHA loans allows home buyers and current
home owners to buy a home with less money down or mortgage
refinance up to 97% of the homes value. Allow one of
our representatives research a FHA loan program for
you today.
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| FIRST
TIME BUYERS |
We design our first time buyer loans to
make it easy to become a homeowner. There are many programs
to choose from depending on your unique situation. Some
programs offer low interest rates, easier qualifying
or both. Call one of our first time buyer specialists
to see what fits your needs.
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