US | California | French Valley Mortgage Lender
French Valley MORTGAGE LENDER
Finding a great French Valley, 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 French Valley gives you the best opportunity to secure a low rate and smooth transaction with a realistic closing timeframe.
French Valley is a census-designated place in Riverside County, California. French Valley sits at an elevation of 1,368 feet (417 m). French Valley lies in the French Valley of California. The 2010 United States census reported French Valley’s population was 23,067. It became the most populous CDP in Riverside County when Rubidoux was incorporated into Jurupa Valley.
According to the United States Census Bureau, the CDP covers an area of 10.9 square miles (28.2 km2), 99.72% of it land, and 0.28% of it water.
At the 2010 census French Valley had a population of 23,067. The population density was 2,116.7 people per square mile (817.3/km2). The racial makeup of French Valley was 14,827 (64.3%) White, 1,828 (7.9%) African American, 229 (1.0%) Native American, 2,672 (11.6%) Asian, 134 (0.6%) Pacific Islander, 1,889 (8.2%) from other races, and 1,488 (6.5%) from two or more races. Hispanic or Latino of any race were 6,318 persons (27.4%).
The census reported that 21,922 people (95.0% of the population) lived in households, 5 (0%) lived in non-institutionalized group quarters, and 1,140 (4.9%) were institutionalized.
There were 6,108 households, 3,709 (60.7%) had children under the age of 18 living in them, 4,473 (73.2%) were opposite-sex married couples living together, 595 (9.7%) had a female householder with no husband present, 294 (4.8%) had a male householder with no wife present. There were 306 (5.0%) unmarried opposite-sex partnerships, and 48 (0.8%) same-sex married couples or partnerships. 491 households (8.0%) were one person and 92 (1.5%) had someone living alone who was 65 or older. The average household size was 3.59. There were 5,362 families (87.8% of households); the average family size was 3.77.
The age distribution was 7,776 people (33.7%) under the age of 18, 1,978 people (8.6%) aged 18 to 24, 7,938 people (34.4%) aged 25 to 44, 4,182 people (18.1%) aged 45 to 64, and 1,193 people (5.2%) who were 65 or older. The median age was 30.5 years. For every 100 females, there were 107.9 males. For every 100 females age 18 and over, there were 108.3 males.
There were 6,635 housing units at an average density of 608.9 per square mile, of the occupied units 5,060 (82.8%) were owner-occupied and 1,048 (17.2%) were rented. The homeowner vacancy rate was 4.0%; the rental vacancy rate was 7.2%. 17,941 people (77.8% of the population) lived in owner-occupied housing units and 3,981 people (17.3%) lived in rental housing units.
Home Loans, VA Loans, Refinance and More…
French Valley VA Loans (VA Loan Experts in French Valley)
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.
French Valley 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.
French Valley 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.
Local Service Areas
in French Valley, CA.
- VA Loans
- Rate Refinance
- Cash-out Refinance
- FHA Loans
- First Time Mortgage
- Conventional Home Loan
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