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Most important steps in home buying process
Pre-Qualify
Pre-Qualification is estimate given by lender based on information provided by the borrower. This is one of most important step in home buying process.
Mortgage
Mortgage is loan given by lender to borrower to buy the property. Conventional, FHA, USDA, Reverse mortgage are few mortgage types
Real Estate
Real Estate buying or selling the property start with finding the property, arranging for loan and closing.
Get Your FREE complimantory Home Buyers Guide
Wants to know various steps in home buying process? its always good to know what to expect during home buying process, from start of prequalification for mortgage, finding the right real estate agent to look for your home, writing residential purchase aggrement called offer, acceptance of offer, applying for mortgage and so on till you get keys to open the doors of your new home in California. Our team of expert are here to help you every step of home buying process.
Mortgage, Refinance, Pre-Qualification
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Documents To Start Mortgage Application
The following items may be critical to start and complete your mortgage or refinance loan application in a timely manner. Please provide all documents as they apply to you
- Last 30 Days of paycheck stubs for all borrowers (if applicable)
- Last 2 years W-2’s for all borrowers (if applicable)
- Last 2 years tax returns Personal and Bussiness for all borrowers. Including all forms
- Last 2 months bank statements (savings and checking)
- Copy of Drivers License for all borrowers
- Copy of Purchase Agreement
- Copy of all Pension Statements, “Award” Letter, etc. (if applicable)
- Copy of Social Security Annual “Award” Letter, Statement, etc. (if applicable)
- Copy of Separation decree, including all pages (if applicable)
A fixed rate mortgage offers piece of mind. Regardless of fluctuations in the market, your principal and interest payment remains the same for the duration of the loan.We offer fixed rate mortgage for 10, 15, 20, 25 and 30 year terms. The longer the term of your loan, the lower the monthly payment will be. With a shorter term, you will build equity in your home more quickly.Because they offer a monthly payment that is known and does not change, fixed-rate mortgage loans are the traditional choice of homebuyers who plan to stay in their home for many years and want to build equity in their home.
An adjustable rate mortgage may offer a lower initial interest rate and monthly payments than a conventional fixed rate mortgage. After an initial term, the interest rate on an adjustable rate mortgage loan is re-set periodically to keep the rate in line with current market interest rates.For example, a 3/1 ARM loan offers a fixed rate for the first 3 years. The interest rate adjusts once a year thereafter. 5/1, 7/1 or 10/1 ARM loan offer a fixed rate for the first 5, 7 or 10 years respectively, adjusting yearly thereafter.We set the adjustable interest rate by adding a fixed percentage to an index rate. When the interest rate goes up, your monthly payment also increases.
The Federal Housing Administration’s loan programs enable more buyers to qualify for a mortgage. With more flexible credit guidelines, FHA mortgages can be a viable choice for first time buyers, buyers with less than perfect credit, self-employed buyers, buyers with limited liquid assets for a down payment or buyers with short or interrupted employment histories.FHA loans can also be used to refinance an existing mortgage. The down payment on an FHA loan can be as low as 3.5% of the purchase price. To reduce the amount of cash needed at closing, the upfront mortgage insurance premium can be included in the mortgage. Borrowers are also responsible for paying monthly mortgage insurance premiums.
With an interest only mortgage, your mortgage payment covers interest only, with no principal reduction for a designated period of time. Payments will be lower during the interest-only period and increase when that period is over.If you choose an interest only mortgage, you may not build equity during the interest only period if you make the minimum payment each month. At the end of the interest only period, your monthly payment will increase even if interest rates haven’t changed. If you try to sell your home before you reduce the principal, you could risk getting little or no money from the sale.An advantage of and interest only loan, is that you can choose to make payments above the interest-only amount. All of the overpayment is applied directly to the principal you owe, so this product provides the opportunity for aggressive principal reduction.
Second Mortgage: We offer 2nd mortgages in conjunction with our 1st mortgage products. A second mortgage may provide an option for borrowers who want to minimize their down payment but do not want to pay for private mortgage insurance.
Alternative Documentation: Our alternative documentation product is for self-employed borrower with strong credit scores and verified assets.
Welcome to Your California Mortgage Broker!
Your California Mortgage and Refinance Broker, Kuljinder Tatla, Mortgage Loan Officer, at U2 FUNDING INC Mortgage Broker provide you with lowest possible mortgage rates to make your home mortgage or refinance process easy and hassle free process for your home, residential, investment and commercial properties. Either you are purchasing your first home, refinancing your existing home, buying commercial or investment properties in California, we have focused on originating high quality real estate loans as a Loan Officer we are here with you from start of your mortgage or refinance application to get your loan closed from comfort of your home.
With our flexibility as Mortgage Broker, we have ability to see value overlooked by others, we may be able complete transactions that other lenders have turned down. Our goal is to make lasting relationships with each of our client by providing excellent services.
Even if you have a quick question on Mortgage or Refinance in CA just feel free to contact Kuljinder Tatla, Mortgage Loan officer for your Mortgage related questions. Looking forward to serve your next Mortgage or Refinance
Why Use An Independent Mortgage Broker?
As an independent mortgage broker we specialize in finding the best loan for you. We work on your behalf, not the bank and we are focused on finding the lowest rates for you, we provide more loan options, more flexibility and we offer faster turn times. We are not tied to only one bank or lender but instead we shop around for the loan that will best fit your needs. We are rooted in our community, we are here for you.
Thank You California
Thank you for choosing Kuljinder Singh Tatla Mortgage Loan officer, U2 FUNDING INC Mortgage Broker on your next Mortgage or Refinance.With our personalized service to our borrowers in California for Mortgage and Refinance, we are experienced in originating high quality loans secured by homes, residential income, commercial and industrial properties. We maintain relationships with borrowers, investors and mortgage lenders based on deep experience and practices which meet the highest standards in the industry. As Certified Loan originator by NMLS and California Department of Real Estate we provide Specialized Mortgage Solutions so when you may be challenged to find a superior loan officer, Feel free to ask your question, we can speak in English, Punjabi, Hindi, Urdu languages to answer on your Mortgage or Refinance.
Kuljinder Singh Tatla Mortgage Broker is here to help you in California on your mortgage or refinance.