Are you looking to finance the perfect new home or save money on a refinance in California? We are your trusted resource for the entire mortgage process. At Harbor View Funding, we work with homebuyers and homeowners that have a wide variety of budgets and goals. An FHA loan is very popular, especially for first time home buyers, with a down payment as low as 3.5%.
FHA loans are generally easier to qualify for than conventional mortgages and borrowers with credit problems can be approved with a low-interest rate. A conventional loan is not backed by the government and is a good choice for borrowers with excellent credit and a sizable down payment. VA loans are available to qualified veterans, activity duty personnel, and some surviving spouses.
The VA program offers flexible loans with low-interest rates, less stringent requirements, and no down payment or private mortgage insurance required. A reverse mortgage is available to homeowners aged 62 and older who want to access the equity in their home.
FHA loans are generally easier to qualify for than conventional mortgages and borrowers with credit problems can be approved with a low-interest rate. A conventional loan is not backed by the government and is a good choice for borrowers with excellent credit and a sizable down payment. VA loans are available to qualified veterans, activity duty personnel, and some surviving spouses.
The VA program offers flexible loans with low-interest rates, less stringent requirements, and no down payment or private mortgage insurance required. A reverse mortgage is available to homeowners aged 62 and older who want to access the equity in their home.
Services
At Harbor View Funding, we get to know our clients personally and develop a mortgage strategy based on your specific financial goals and objectives.
We are not a bank or direct lender, so we are always working with your best interests in mind.
If you are looking for a broker look no further; we can help you with all of your residential home loan needs.
Our access to wholesale lenders and ability to shop around for interest rates and mortgage terms allows us to give our clients the best possible mortgage rates.
We are not a bank or direct lender, so we are always working with your best interests in mind.
If you are looking for a broker look no further; we can help you with all of your residential home loan needs.
Our access to wholesale lenders and ability to shop around for interest rates and mortgage terms allows us to give our clients the best possible mortgage rates.
An adjustable-rate mortgage, or ARM, features an introductory interest rate that lasts for a specific amount of time and then adjusts at pre-set intervals for the remaining term of the loan.
When the interest rate adjusts, your monthly payment will change.
The monthly payment amount is typically capped.
The initial interest rate on an ARM is generally lower than that for a comparable fixed-rate mortgage.
The initial fixed-rate term may be as short as a single month or up to 10 years.
In the past, one-year ARMs, in which the first adjustment occurred after one year, were the most popular.
When the interest rate adjusts, your monthly payment will change.
The monthly payment amount is typically capped.
The initial interest rate on an ARM is generally lower than that for a comparable fixed-rate mortgage.
The initial fixed-rate term may be as short as a single month or up to 10 years.
In the past, one-year ARMs, in which the first adjustment occurred after one year, were the most popular.
A balloon loan is a mortgage that requires a large one-time payment at the end of the loan.
In exchange, your payments will likely be lower for many years, until the balloon payment is due.
Aside from this repayment obligation, a balloon payment is the same as a standard fixed-rate mortgage.
In general, the balloon payment is over two times the loan's average monthly payment, but it is often tens of thousands of dollars.
Most balloon loans require a single large payment that pays the remaining balance.
In exchange, your payments will likely be lower for many years, until the balloon payment is due.
Aside from this repayment obligation, a balloon payment is the same as a standard fixed-rate mortgage.
In general, the balloon payment is over two times the loan's average monthly payment, but it is often tens of thousands of dollars.
Most balloon loans require a single large payment that pays the remaining balance.
While it is easier to sell an old home before purchasing a new one, so the sale of the old house provides the money for the new one, this does not always work out.
Sometimes homeowners find the new house they want before their old home is sold.
A bridge loan, also called a swing loan or gap financing, is a short-term, temporary loan used to secure the purchase of a home until longer-term financing is secured.
With a bridge loan, the homeowner has the necessary funds to buy the new home, with the intention of repaying the loan with the proceeds from the sale of the old home.
Sometimes homeowners find the new house they want before their old home is sold.
A bridge loan, also called a swing loan or gap financing, is a short-term, temporary loan used to secure the purchase of a home until longer-term financing is secured.
With a bridge loan, the homeowner has the necessary funds to buy the new home, with the intention of repaying the loan with the proceeds from the sale of the old home.
If you want to build your own home, rather than buying an existing home, you may want to consider a construction loan.
Construction loans are used by builders and potential homeowners, and they differ from a standard mortgage loan.
This specialty type of loan is short-term, unlike most mortgages, and most are designed to be repaid when the construction period of the home is complete.
Funds are typically granted and released to a builder, who uses the money as needed to build the home.
Payments are often interest-only during construction, and become due upon completion of the home.
Construction loans are used by builders and potential homeowners, and they differ from a standard mortgage loan.
This specialty type of loan is short-term, unlike most mortgages, and most are designed to be repaid when the construction period of the home is complete.
Funds are typically granted and released to a builder, who uses the money as needed to build the home.
Payments are often interest-only during construction, and become due upon completion of the home.
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