Pacific Crest Home Loans - Over 25 years experienced Mortgage Loan Consultants

The Owners of Pacific Crest Home Loans are lifelong residents of our community. Together they have a combined experience of over 25 years as Mortgage Loan Consultants. They have built careers centered on the principal of doing what is best for the customer and developing long-term positive relationships in our community with over 3000 satisfied customers and growing!

If you have been shopping for a new home you know how fast the market is moving. Be smart and have your financing arranged before making an offer.

The right type of loan for you depends on many different factors:
- Your current financial picture
- The amount of your loan can increase your interest rate if the amount financed exceeds the conforming loan limits established by Fannie Mae and Freddie Mac. The conforming loan limit changes at the beginning of each year.
- Shorter loans, such as 20 year or 15 year note, can save you thousand of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower interest rate than a fixed rate mortgage, but your payments could get higher when the interest rate changes.
- A larger down payment – greater than 20% - will give you the best possible rate. Down payments of 5% or less should expect to pay a higher rate as you are starting with less equity as collateral. If you've got the cash now and want to lower your payments, you can pay on your loan to lower your mortgage rate. It's a simple concept, really: In exchange for more money upfront, lenders are willing to lower the interest rate they charge, cutting the borrower's payments. Closing costs are fees paid by the lender, if you don't want to pay all of the closing costs, expect a higher rate which will pay the lender additional interest over the life of the loan.
- Credit quality and debt-to-income-ratio affect the terms of your loan through FICO Score. If you have good credit and your monthly income far surpasses your monthly debt obligations, you will get approved at a lower interest rate. However, if your monthly income barely covers your minimum debt obligations, even if you have a credit report, you will not receive the lowest available interest rate.
- How you expect your finances to change?
- How long you intend to keep your house?
- How comfortable you are with your mortgage payment changing?

Some of the most common types of home loans are:
~ Low Down Payment Loan
~ Interest Only
~ Fixed Rate
~ Line of Credit
~ Adjustable Rate Mortgages (ARM's)
~ Refinance
~ No Closing Costs
~ Self Employed, Stated Income
~ No Asset Verification
~ Sub-Prime Loans
~ VA Loans
*The best way to find the right loan is to discuss your finances, your plans, and financial prospects, and your preferences frankly with a mortgage professional.