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We’re in no way discounting the value of Internet technology that brings you state-of-the-art mortgage service. In fact, we couldn’t do what we do without it! However, we would simply like to protect you from the costly mistakes of indiscriminate online mortgage shopping.

Before you proceed any further with an online mortgage application for a purchase, refinance or equity loan, consider this
The Pitfalls of “Random" Online Mortgage Shopping


Contact Information:
1201 W. Huntington Drive #111
Arcadia, CA 91007
Phone: 626-796-7000
Fax: 626-796-7178

Frequently Asked Questions
  1. How should I compare rates offered by different lenders?
  2. Can I obtain a pre-approval before finding a property?
  3. What supporting documentation will I be required to provide?
  4. How quickly will my loan be approved?
  5. How long does it take to close my loan?
  6. How can you close my loan if you are not in my area?
  7. When can I lock my interest rate?
  8. How do I lock my interest rate?
  9. When is the best time to lock a purchase transaction?
  10. When is the best time to lock a refinance transaction?
  11. If rates fall after I've locked, while my loan is still in process, will you lower my rate?
  12. What happens if I switch loan programs or rate and point combinations after I have chosen a program and locked my rate?
  13. What happens if my loan process takes longer than my lock period?
  14. Can I redraw my loan documents if needed?
  15. How soon after I sign loan documents will my loan close?
  16. If my loan is closing around the first of the month, should I still make my payment to my current lender?
  17. If I am receiving cash out at the end of the transaction, how will I receive my proceeds?
  18. Do your loans have prepayment penalties?
  19. Do I have to have an impound account?
  20. What is the minimum down payment required?
  21. What is the maximum debt-to-income ratio?
  22. What is the minimum FICO score?
  23. Can I set up a direct debit to make my monthly payment?
  24. Can I make a bi-weekly payment?
  25. If my loan requires Private Mortgage Insurance, when can I have it removed?
  26. What about easy qualifier loans that don't require as much supporting documentation?
  27. Can I close my loan in the name of a Trust?
  28. Can I subordinate a Third Lien?
  29. What is a Three Day Right to Cancel?
  30. What is a FICO score?
  31. What are loan points?
  32. What are loan fees?
    Loan fees are fees paid in conjunction with closing a mortgage loan. We use a different pricing model than traditional mortgage companies. Most companies work on a percentage profit built into the rate and points (normally 1% or so). We operate to a greater extent on a fixed dollar profit, built into the fees. If you compare total dollar cost (points and fees) for the same interest rate, we will normally have a lower total cost associated with our loan. We can convert most fees into points if that makes a difference to you. Instead of charging borrowers for every small fee associated with the loan, we collect the following fees:
    Processing Fee Covers costs associated with processing the loan.
    Underwriting Fee Covers costs associated with underwriting the loan.
    Document Preparation Fee Covers costs associated with preparing the loan documents.
    Funding Fee Covers costs associated with funding and closing the loan.
    Administration Fee Covers additional costs associated with the loan such as credit report, tax service, and flood certification.

    There are other fees paid to third parties such as Appraisal, Escrow and Title Insurance.

  33. What is a rebate?
  34. What is a "no cost loan"?
  35. What is PMI?
  36. What is the difference between a conforming loan and a jumbo loan?
  37. What is prepaid interest?
  38. What is overlapping interest?
  39. What is a negative amortization (11th District COFI) loan?
  40. What is a subordination agreement?
  41. What is Title Insurance?
  42. Are purchase loan points tax deductible?
  43. Where can I turn for help cleaning up my credit?
  44. How do I dispute an item on my credit report?
  45. What steps do I take if I become a victim of Identity Theft during the loan process?
  46. What is a Piggy-Back Loan?
  47. How much can I borrow on a second mortgage?
  48. Can I spend the funds received on a second mortgage for any purpose?
  49. Can I subordinate my current second mortgage?
  50. If I am receiving a home equity line of credit, how do I receive my draws on it?
  51. Is the interest on a home equity loan tax deductible?
  52. How will my payment be calculated on an Advantage Line of Credit?
1201 W Huntington Dr. #111, Arcadia, CA 91007

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