US | California | Malibu Mortgage Lender
Malibu MORTGAGE LENDER
Finding a great Malibu, 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 Malibu gives you the best opportunity to secure a low rate and smooth transaction with a realistic closing timeframe.
Malibu () (Spanish: Malibú) is a beach city in the Santa Monica Mountains region of Los Angeles County, California, situated about 30 miles (48 km) west of Downtown Los Angeles. It is known for its Mediterranean climate and its 21-mile (34 km) strip of the Malibu coast, incorporated in 1991 into the City of Malibu. The exclusive Malibu Colony has been historically home to Hollywood celebrities. People in the entertainment industry and other affluent residents live throughout the city, yet many residents are middle class. Most Malibu residents live from a half mile to within a few hundred yards of Pacific Coast Highway (State Route 1), which traverses the city, with some residents living up to a mile away from the beach up narrow canyons. As of the 2010 census, the city population was 12,645.
Nicknamed “the ‘Bu” by surfers and locals, beaches along the Malibu coast include: Topanga Beach, Big Rock Beach, Las Flores Beach, La Costa Beach, Surfrider Beach, Dan Blocker Beach, Malibu Beach, Zuma Beach, Broad Beach, Point Dume Beach, and County Line. State parks and beaches on the Malibu coast include Malibu Creek State Park, Leo Carrillo State Beach and Park, Point Mugu State Park, and Robert H. Meyer Memorial State Beach, with individual beaches: El Pescador, La Piedra and El Matador. The many parks within the Santa Monica Mountains National Recreation Area lie along the ridges above the city along with local parks that include Malibu Bluffs Park (formerly Malibu Bluffs State Park), Trancas Canyon Park, Las Flores Creek Park, and Legacy Park.
Signs around the city proclaim “21 miles of scenic beauty”, referring to the incorporated city limits. The city updated the signs in 2017 from the historical 27-mile (43 km) length of the Malibu coast spanning from Tuna Canyon on the southeast to Point Mugu in Ventura County on the northwest. For many residents of the unincorporated canyon areas, Malibu has the closest commercial centers and they are included in the Malibu ZIP Codes. The city is bounded by Topanga on the east, the Santa Monica Mountains (Agoura Hills, Calabasas, and Woodland Hills) to the north, the Pacific Ocean to the south, and Solromar in Ventura County to the west.
Home Loans, VA Loans, Refinance and More…
Malibu VA Loans (VA Loan Experts in Malibu)
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.
Malibu 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.
Malibu 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 Malibu, CA.
- VA Loans
- Rate Refinance
- Cash-out Refinance
- FHA Loans
- First Time Mortgage
- Conventional Home Loan
Recent Searches in Malibu,CA. for Mortgage Lenders
New Home Loan Malibu,CA.
Refinance my Home
Malibu Cash Out Refinance
Refinance Lender Malibu near me
Malibu VA Loan Expert
Refinance Loan Lower Rate