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Claremont MORTGAGE LENDER

Finding a great Claremont, CA. mortgage lender will help you and your family acquire and finance residential real estate. The process of buying or refinancing a home can be complicated, but it does not need to be.

Hiring a professional is vital to ensuring you are getting the right loan that suits you and the results you are looking to achieve. There are a lot of mortgage loan options and a variety of lender types; however, working with a local mortgage lender in Claremont gives you the best opportunity to secure a low rate and smooth transaction with a realistic closing timeframe.

Claremont () is a suburban city on the eastern edge of Los Angeles County, California, United States, 30 miles (48 km) east of downtown Los Angeles. It is in the Pomona Valley, at the foothills of the San Gabriel Mountains. As of the 2010 census it had a population of 34,926, and in 2019 the estimated population was 36,266.

Claremont is the home of the Claremont Colleges and other educational institutions, and the city is known for its tree-lined streets with numerous historic buildings. Because of this, it is sometimes referred to as “The City of Trees and Ph.Ds.” In July 2007, it was rated by CNN/Money magazine as the fifth best place to live in the United States, and was the highest rated place in California on the list. It was also named the best suburb in the West by Sunset Magazine in 2016, which described it as a “small city that blends worldly sophistication with small-town appeal.” In 2018, Niche rated Claremont as the 17th best place to live in the Los Angeles area out of 658 communities it evaluated, based on crime, cost of living, job opportunities, and local amenities.

The city is primarily residential, with a significant portion of its commercial activity located in “The Village,” a popular collection of street-front small stores, boutiques, art galleries, offices, and restaurants adjacent to and west of the Claremont Colleges. The Village was expanded in 2007, adding a controversial multi-use development that includes an indie cinema, a boutique hotel, retail space, offices, and a parking structure on the site of an old citrus packing plant west of Indian Hill Boulevard.

Claremont has been a winner of the National Arbor Day Association’s Tree City USA award for 22 consecutive years. When the city incorporated in 1907, local citizens started what has become the city’s tree-planting tradition. Claremont is one of the few remaining places in North America with American Elm trees that have not been exposed to Dutch elm disease. The stately trees line Indian Hill Boulevard in the vicinity of the city’s Memorial Park.

The city hosts several large retirement communities, among them Pilgrim Place, the Claremont Manor and Mt. San Antonio Gardens.

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Home Loans, VA Loans, Refinance and More…

Mortgage Lender in Claremont, CA.

Claremont VA Loans (VA Loan Experts in Claremont)
The VA loan is a 0% down payment mortgage loan available to active-duty service members, veterans, qualifying reservists and select military spouses. VA loans are funded by banks (“lenders”) and are partially guaranteed by the U.S Department of Veteran Affairs (commonly called “The VA”). There are a lot of myths about the VA loan which lead most people to believe the benefit can only be used one time (single-use benefit); however, that is untrue and there are many homeowners who have used their VA entitlement for a subsequent purchase or refinance. The home loan Certificate of Eligibility “COE” (VA Form 26-1880) will determine how much eligibility you have available to you for your purchase or refinance and can be request by your team Mortgage Heroes. It is important to know that VA loans have NO Private Mortgage Insurance (PMI) and tend to have lower interest rates compared to the conventional mortgage market.

Claremont Conventional Loans
Conventional loans are the most widely used loans for residential real estate. Conventional loans are broadly offered by many banks and lending institutions throughout the country and are broken into two categories: Conforming and Non-Conforming. Conforming conventional loans follow guidelines set by Fannie Mae and Freddie Mac, while non-Conforming conventional loans can have looser or tighter guidelines depending on who the lender is. Commonly conventional purchase loans are believed to require 20% down payment; however, there are a variety of options available, and some can be funded with as little as 3% down.

Conventional refinances are offered as “Rate and Term” or “Cash Out” refinances. Rate and Term refinances are what they sound like, a refinance where the new loan’s rate and term changed, but the loan balance remains the same (except for closing costs, impounds and fees rolled into the new loan). Cash Out refers to the cash back that the homeowner receives because of taking out a new loan at a higher loan amount than what they currently owe. Simply put, this is home equity being taken from the value of the house and transferring it to the homeowners to use as they wish. People who do cash out loans typically consolidate debts, pay down or pay off debts all together, remodel part of their home, or make upgrades.

Claremont FHA Loans
FHA loans are residential loans backed by the Federal Housing Administration. FHA loans are most commonly used by first time, or repeat, homebuyers who have minimal money for down payment. Down payment can be as little as 3.5% for a FHA purchase loan. Although these loans are still financed by banks and lenders, they are still backed by the Federal Housing Administration, and they do have mortgage insurance.
The FHA Streamline refinance is a change in the rate and term of the loan, similar to the conventional rate and term refinance. For homeowners who need to access their equity, FHA does also offer a cash out refinance program.

VA Loan Experts in Claremont, CA. by Mortgage Heroes

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Popular Services

in Claremont, CA.

  • VA Loans
  • Rate Refinance
  • Cash-out Refinance
  • FHA Loans
  • First Time Mortgage
  • Conventional Home Loan

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