Mortgage Broker

San Ramon

Get in touch with an experienced mortgage broker in San Ramon, California.
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What is Mortgage Broker?

A mortgage broker is a professional who helps people get mortgages from lenders. Mortgage broker work with both borrowers and lenders to find the best possible mortgage for each individual borrower. A good mortgage broker will work hard to find the best interest rates and terms for each borrower, and will help them through the entire process of getting a mortgage.

At New Vintage Mortgage our mortgage brokers work for you. If you are looking for mortgage brokers in San Ramon, New Vintage Mortgage is near by and ready to serve you.

Bad Credit Mortgage Broker in San Ramon

It is possible to remortgage your property even if you have bad credit. Mortgage brokers in San Ramon can help you find deals that fit your needs and circumstances. Lenders will take into account the same factors as they would for house buyers.

If you want to borrow against the equity in your property in San Ramon, it is possible depending on the loan-to-value (LTV) ratio. The best way to get a good remortgage deal is to find a lender in San Ramon who is willing to cater to your needs and credit issue(s). You will also need to show the lender how you plan on repaying the loan over a specific period of time.

Visit New Vintage Mortgage in San Ramon of consultation.

Mortgage Broker Vs Bank

When you are looking for a home loan, you may be wondering if it is better to work with a mortgage broker or a bank. There are pros and cons to both choices. Working with a bank may be less hassle for you, but there may be tradeoffs for that convenience. On the other hand, working with a mortgage broker gives you access to more lenders and may save you money in the long run. It is important to weigh your options and decide what is best for your individual situation.

At New Vintage Mortgage we are not tied with any lender or bank, we work for you. To know more read the blog below.

Reverse Mortgage in San Ramon

A reverse mortgage is a type of loan that allows senior citizens (age above 62 years) to borrow against the equity in their home. The loan does not have to be repaid until the borrower dies, moves out of the home permanently, or sells the home.

Federal regulations require lenders to structure the transaction so that the loan amount does not exceed the value of the home. Even if the loan amount does exceed the value of the home, the borrower or borrower’s estate will not be held responsible for paying back the difference thanks to the program’s mortgage insurance.

Contact New Vintage Mortgage San Ramon Office for your Reverse Mortgage Requirements.

Requirements of Reverse Mortgage

To qualify for a reverse mortgage, you must meet certain requirements relating to your age and the equity you have in your home. The most important of these requirements are discussed below.

Age Requirements For Reverse Mortgage

If you’re looking for a way to access the equity in your home during retirement, a reverse mortgage may be right for you. To qualify for a reverse mortgage, you must be at least 62 years old. If you want to add your spouse as a co-borrower, they must also be at least 62 years old.

Equity requirements For Reverse Mortgage

Homeowners who are 62 or older and have equity in their home may be eligible for a reverse mortgage.

Under FHA rules, cooperative housing owners cannot obtain reverse mortgages since they do not technically own the real estate in which they live but rather own shares of a corporation.

Eligible homeowners must own their home outright or have a significant amount of equity built up in their home.

The home must also be the primary residence of the borrowers.

Reverse mortgages are not available to everyone. For example, cooperative housing owners do not technically own the real estate in which they live but rather own shares of a corporation.

Consequently, under FHA rules, they are ineligible for a reverse mortgage. Additionally, until recently in New York state, reverse mortgages were only allowed in one- to four-family residences and condos but not co-ops because state law prohibited them. However, this has changed and now reverse mortgages are available in all three types of housing.

For checking reverse mortgage eligibility in San Ramon Contact New Vintage Mortgage.

Mortgage Broker Fee

Borrowers can expect to pay a fee between 1 percent to 2 percent of the loan principal for a broker’s services. Most brokers do not charge the borrower anything at all in most scenarios. In the few instances where a broker does charge the borrower, the fee typically ranges from 0.50 percent to 2.75 percent of the loan amount. Federal law caps broker fees at 3 percent and requires that they not be linked to the interest rate on a loan.

At New Vintage Mortgage our fee structure is _____________ Contact us today for your mortgage loan requirements

Fixed Rate Mortgage

A fixed-rate mortgage offers peace of mind by locking in your interest rate for the life of your loan. You’ll know exactly what your monthly payments will be, making budgeting easy.

New Vintage Mortgage based in San Ramon, we can show you how different term lengths will impact your finances and find an option that best suits your needs.

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