US | California | Santa Clarita Mortgage Lender
Santa Clarita MORTGAGE LENDER
Finding a great Santa Clarita, 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 Santa Clarita gives you the best opportunity to secure a low rate and smooth transaction with a realistic closing timeframe.
Santa Clarita () is a city in northwestern Los Angeles County, California. With an estimated 2019 population of 212,979, it is the third-largest city by population in Los Angeles County, and the 21st-largest in the state of California. It is located about 30 miles (48 km) northwest of downtown Los Angeles, and occupies 70.75 square miles (183.2 km2) of land in the Santa Clarita Valley, along the Santa Clara River. It is a notable example of a U.S. edge city, satellite city, or boomburb.
Human settlement of the Santa Clarita Valley dates back to the arrival of the Chumash people, who were displaced by the Tataviam circa 450 AD. After Spanish colonists arrived in Alta California, the Rancho San Francisco was established, covering much of the Santa Clarita Valley. Henry Mayo Newhall purchased the Rancho San Francisco in 1875 and established the towns of Saugus and Newhall. The Newhall Land and Farming Company played a major role in the city’s development. In December 1987, the city of Santa Clarita was incorporated, encompassing the communities of Canyon Country, Newhall, Saugus, and Valencia. The four communities retain separate identities, and residents commonly refer to one of them when asked where they are from. Santa Clarita is bounded on the west by the Golden State Freeway (I-5). The Antelope Valley Freeway (CA-14) runs northeast–southwest forming part of the city’s irregular east boundary. The two freeways meet at Newhall Pass, near the city’s southernmost point.
Santa Clarita is home to three institutions of higher education: California Institute of the Arts, an internationally renowned art university; The Master’s University, a Christian liberal arts university; and College of the Canyons, a community college. Companies headquartered in or near the city include Princess Cruises, Sunkist, Remo, and the Newhall Land and Farming Company. Santa Clarita has a low crime rate and high-ranking schools, and is one of the state’s fastest-growing cities. Six Flags Magic Mountain amusement park and Stevenson Ranch are both commonly associated with Santa Clarita. However, they are both located west of Interstate 5 and are thus outside the Santa Clarita city limits.
Home Loans, VA Loans, Refinance and More…
Santa Clarita VA Loans (VA Loan Experts in Santa Clarita)
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.
Santa Clarita 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.
Santa Clarita 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 Santa Clarita, CA.
- VA Loans
- Rate Refinance
- Cash-out Refinance
- FHA Loans
- First Time Mortgage
- Conventional Home Loan
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