Los Angeles County Homes & Mortgages
If you are planning on purchasing a home in the greater Los Angeles County area, one of the first things you need to consider is how you will be able to finance the property. Do you have to wait for your current home to sell? Are you paying cash for the property? Are you financing the entire amount or just part of it? According to bankrate.com, the median asking price for a home in the greater Los Angeles metro areas is around $324,800. Depending on the neighborhood, you could pay slightly more or less. American Real Estate Loans can help you prior to looking at properties to see how much you can get pre-approved for.
LA Area Homes
When searching for a home in the Los Angeles area there are several areas to choose from. Prices may differ significantly depending on the exact location and the size of the home. Some of the more affluent areas in the Los Angeles area include communities within the city limits as well as areas surrounding downtown. Some well-known areas include Baldwin Hills, Hollywood Hills, Westwood and Venice. The Downtown financial district has some condos and apartments and sometimes are available for sale. Some of the more famous neighborhoods include Brentwood, Pacific Palisades and Bel Air. Expect to find homes starting in the low one million dollar range and up in these areas. This is where you will enjoy an overall year round warm temperature with plenty of spectacular views while being close to the greater Los Angeles Area.
Los Angeles Home Loans
Acquiring a home loan in Los Angeles means that you will have to meet certain qualifications before approval. In order to get a Los Angeles County mortgage you will have to have three meet three major criteria’s depending on your loan program, including credit score, debt to income ratio and down payment. American Real Estate Loans can make the process of finding the right mortgage program painless, by simply matching your information to multiple available options and finding the best mortgage loan for your unique situation. For those of you with less established credit, you may still qualify for an FHA loan. For those of you that have served in the military, you might have the opportunity for 100% financing through a VA insured mortgage. For a pricier home, you may require a Jumbo loan. Whatever your needs are, we are sure to help you into the best program and best Los Angeles mortgage rate possible.
If you are looking to refinance your existing Los Angeles home mortgage, you will be able to accomplish several goals depending on how you will utilize your funds. If you have an excellent credit or FICO score, you should have no problem getting the lowest rate for your loan. This will help lower your monthly payment and make your home more affordable. If you have equity in the home, you can refinance and take money out for home repairs or to pay down other expenses. This is a great way to borrow money and make the payment affordable because it will be tied into the length of your mortgage. For a Los Angeles home loan, you will have to have a home appraisal in order to qualify for a refinance, in most programs. Generally, your home must show an increase in value from its last appraisal in order to qualify for cash back. There are some streamline options for FHA and VA loans that will not require an appraisal, income verification or credit evaluation.
Los Angeles is one of the well-sought after real estate markets in the U.S. and one of the most beautiful places to live. American Real Estate Loans makes it easy to apply online for a home or commercial mortgage loan. Simply fill out the “Get a Quick Quote” form above and a mortgage professional will contact you as soon as possible.