US | California | Universal City Mortgage Lender
Universal City MORTGAGE LENDER
Finding a great Universal City, 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 Universal City gives you the best opportunity to secure a low rate and smooth transaction with a realistic closing timeframe.
Universal City is an unincorporated area within the San Fernando Valley region of Los Angeles County, California, United States. Approximately 415 acres (1.7 km²) within and around the surrounding area is the property of Universal Pictures, one of the five major film studios in the United States: about 70 percent of the studio’s property is inside this unincorporated area, while the remaining 30 percent is within the Los Angeles city limits. Universal City is primarily surrounded by Los Angeles with its northeastern corner touching the city of Burbank, making the unincorporated area a county island.
Located within the area of Universal City is the Universal Studios Hollywood film studio and theme park, as well as the Universal CityWalk shopping and entertainment center. Within the Los Angeles city limits lies 10 Universal City Plaza, a 36-floor office building for Universal and NBC; the Sheraton Universal; and the Universal Hilton. The Metro B Line underground station of the same name is located opposite the 10 Universal Plaza.
A Los Angeles County Sheriff’s Department (LASD) station is located at Universal CityWalk, and the community also houses the only government-funded fire station located on private property. The Los Angeles County Fire Department (LACFD) Station 51 (formally Station 60 until the mid 1990s) is of special significance to Universal, as “Station 51” was the fictional setting of the Universal and Jack Webb television series Emergency!. However, the current Station 51 was not used for external shots, or used as a model for the interior shots seen on the show (LACFD Station 127 in Carson was used).
Universal City’s ZIP code is 91608, and the community is inside area code 818.
Home Loans, VA Loans, Refinance and More…
Universal City VA Loans (VA Loan Experts in Universal City)
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.
Universal City 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.
Universal City 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 Universal City, CA.
- VA Loans
- Rate Refinance
- Cash-out Refinance
- FHA Loans
- First Time Mortgage
- Conventional Home Loan
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