Pasadena home loans
Buying or repairing a home? In most cases, you’ll need the assistance of a home loan. Even if you’re at a point in life where you’re able to consider buying or repairing a home, property is expensive – in fact, buying or working on property is likely the most expensive single purchase you will make in your life.
Contact C2 Financial Corporation – Dino Palmieri to get in touch with the #1 most reputable home loan experts in the Pasadena area. We’ll guide you through the process, educate you on everything you need to know, and help you find and secure an attractive loan that doesn’t have you paying excessive, unwanted interest rates every month.
Call (866) 303-7050 or click here to get started now.
Pasadena Home Loan Considerations
There are a few different factors to consider before taking out a home loan:
- Your down payment. This is the initial amount you will pay upon signing. While most mortgages require 10% – 20% down payment, there are certain options available that can be as low as 3%. In general, the more you put down, the lower your interest rates will be.
- Your interest rates. Along with your down payment, your interest rates are affected by your finances. If you are a low-risk applicant, you will receive low rates. If there is a chance you might default on your loans or be unable to pay, your rates may be higher.
- Your financial standing. Aspects like your credit score, asset reserves, monthly income, and others will determine how much you have to put down and how much you will pay monthly.
- Your broker. Not all loans are created equal. The right mortgage broker will be able to guide you towards a mortgage loan that fits you and your lifestyle – the wrong mortgage broker will pressure you into taking a loan that you’re not comfortable with.
Avoiding Common Home Loan Pitfalls
The wrong loan
There are dozens of different types of loans available, all the way from conventional loans, to jumbo loans, to VA FHA loans, and beyond. Choosing the wrong loan means you pay more for the same amount of financing.
High interest rates
If you choose the wrong loan or pick one that goes beyond your ability to pay, your rates will be high, which will lead to an excessive monthly payment. Your goal should be to pay the least interest possible – while still securing a trustworthy loan.
Hidden fees and costs
Along with property tax and other homeowner taxes, you may have to pay extra fees, such as PMIs, included in your loan as well. A good broker will be able to reduce or eliminate these hidden fees and costs that may be pushed on you by the lender.