There is an up and a down when looking towards a fixed loan in Whittier, California. The downfall about a fixed loan in Whittier is if you get the loan during a high interest rate season than this means you will have to settle for a loan with high interest rates and mortgage payments set for the time agreed upon. The upside to a fixed loan is that if you do so during a low interest period then you will be able to benefit for the fixed time you agreed upon. Your mortgage and interest rates will be low for the fixed time. In Whittier, California when you get a fixed rate you will not be able to be affected by high interest rates throughout your mortgage time because you are secured by your fixed loan.
Now considering an Arm loan or and adjustable rate mortgage in Whittier is a little different than a fixed loan. This type of loan can fluctuate at anytime. So if you are on an arm loan and in one year it is one rate and the next it is another than you are paying what the change will be. This is a risky loan to go along with in California but many accept this for quick solutions for immediate problems. Before deciding to go with an arm loan in Whittier, California make sure you will be able to go with the flow of the loan. Also be prepared to have a higher loan in the beginning, it may soar without notice depending on the market.
Monday, February 26, 2007
Refinancing For Cash In Whittier, California
Refinancing a home loan in Whittier, California isn't always for people who are facing financial difficulties. It would be very beneficial for someone to refinance if you bought your home during a time where interest rates where high. So by refinancing a home in Whittier, California with a high interest rate, when the rates get better than it would be logical to refinance. In doing so you will save money in the long run, cut your terms and also your monthly payments. If you are thinking of refinancing a loan for cash in Whittier then there are some things you need to know. You will most likely pay a higher mortgage than your original mortgage and also lose the interest rate you had. The good thing about refinancing due to catching up on debt related situations is that you will be able to have one mortgage payment. Also the benefit about doing this is that by combining all of your debt payments may be more than the mortgage payment you will eventually pay by refinancing your home loan. So whatever your decision make sure you do the math so you can get the best deal that fits your budget and your lifestyle.
Sunday, February 25, 2007
Whittier First Time Buyers
Are you a first time buyer in Whittier, California? If so there are a few things to consider before looking for your perfect home. Believe it or not but shopping for a home loan in California is as important as shopping for your new home. A loan will stay with you for decades if you are on a 15/30 year program. So make sure you are prepared to spend a good amount of time to find the right loan for you. You can save thousands of dollars in Whittier, California by taking the time to search for the very best loan especially for first time buyers. Loans are so competitive that you will be able to get a good loan if you find the right Realtor that can help you with all your loan needs and wants. So don't believe that you are only able to get what you are told in Whittier. Do the research and take some time so that you can get a good loan you rightfully deserve.
Sunday, February 11, 2007
Whittier Mortgage Statistics
Category Value
homes with no mortgage 24%
with a mortgage 76%
first mortgage only 57%
second mortgage or home equity loan 19%
second mortgage only 12%
home equity loan only 7%
Whittier Housing Expenses
Category Value
owner costs as % of income 21.9%
median real estate taxes (2000) $1,590
Whittier Household Size
Category Value
Total Occupied 28,333
1-person households 22%
2-person households 29%
3-person households 17%
4-person households 16%
5-person households 9%
6-person households 4%
7-person households 3%
Whittier Housing Size
Category Value
no bedrooms 1%
1 bedroom 6%
2 bedrooms 20%
3 bedrooms 52%
4 bedrooms 17%
5+ bedrooms 4%
info provided by: citytowninfo
Category Value
homes with no mortgage 24%
with a mortgage 76%
first mortgage only 57%
second mortgage or home equity loan 19%
second mortgage only 12%
home equity loan only 7%
Whittier Housing Expenses
Category Value
owner costs as % of income 21.9%
median real estate taxes (2000) $1,590
Whittier Household Size
Category Value
Total Occupied 28,333
1-person households 22%
2-person households 29%
3-person households 17%
4-person households 16%
5-person households 9%
6-person households 4%
7-person households 3%
Whittier Housing Size
Category Value
no bedrooms 1%
1 bedroom 6%
2 bedrooms 20%
3 bedrooms 52%
4 bedrooms 17%
5+ bedrooms 4%
info provided by: citytowninfo
Whittier Mortgage and Real estate Facts
In Whittier there are 28,333 places to live of various types. In the city 58% of the houses and apartments are occupied by the owners, not rented out.
Whittier Mortgage
About 76% of owner-occupied housing units in Whittier have a mortgage of one type or another. Approximately 19% of housing units in the city carry a second mortgage of home equity loan.
Mortgage and interest rate quotes for the Whittier area ( or anywhere else you choose in the US are available, without obligation or credit checks.
In Whittier there are 28,333 places to live of various types. In the city 58% of the houses and apartments are occupied by the owners, not rented out.
Whittier Mortgage
About 76% of owner-occupied housing units in Whittier have a mortgage of one type or another. Approximately 19% of housing units in the city carry a second mortgage of home equity loan.
Mortgage and interest rate quotes for the Whittier area ( or anywhere else you choose in the US are available, without obligation or credit checks.
Long Term Real Estate Investment
For those who are not just looking for a quick return, long term investing provides a viable option with a potential for high profit. Long term investment requires much more effort and commitment to maintenance than a short term real estate investment, where one just does enough rehabilitation work to turn a profit quickly. Long term investors purchase a property in an area where the long term appreciation rate appears favorable and rent the property to tenants, acting as landlord and taking care of all the maintenance that the property requires, while profiting from the monthly rent checks while waiting for the property value to rise enough to sell it for profit. As with short term real estate investment, there are several factors that must be considered in order to secure a successful investment.
Short Term Real Estate Investment
With the rapidly appreciating market, short term investors see great profits from merely buying a home and reselling it after only a short ownership term. The wait for profit potential is definitely shorter than any other investment market today, and the probability for high return is almost a guarantee. In only six months, many investors today are seeing $10,000 profit on initial investments of less than $50,000.
For those who are not just looking for a quick return, long term investing provides a viable option with a potential for high profit. Long term investment requires much more effort and commitment to maintenance than a short term real estate investment, where one just does enough rehabilitation work to turn a profit quickly. Long term investors purchase a property in an area where the long term appreciation rate appears favorable and rent the property to tenants, acting as landlord and taking care of all the maintenance that the property requires, while profiting from the monthly rent checks while waiting for the property value to rise enough to sell it for profit. As with short term real estate investment, there are several factors that must be considered in order to secure a successful investment.
Short Term Real Estate Investment
With the rapidly appreciating market, short term investors see great profits from merely buying a home and reselling it after only a short ownership term. The wait for profit potential is definitely shorter than any other investment market today, and the probability for high return is almost a guarantee. In only six months, many investors today are seeing $10,000 profit on initial investments of less than $50,000.
What to know about Financing & Pay-Option
Having one of the most diverse populations in California, rather the entire country for that matter, Los Angeles County has had the luxury of steadily increasing housing values over the last five years. That being said it has also made it more and more difficult to purchase a home that a family can afford. With recent aggressive breakthroughs by the nations leading banks, it has become much easier for the “Average Joe” to purchase a home with little to no money down. And now with banks offering flexible monthly payments with “Pay-Option” loan programs, affording a house in this unique area of Southern California has never been easierThese “100% financing” loans and “Pay-Option” loans are good for awhile, but often after a certain period of time, these loans can adjust. And as of late these rates and more importantly, the payments, have been increasing. What to do? You want to put yourself and your family in a position where you can ride out a decline in the real estate market as well as having a comfortable monthly mortgage payment that you can count on. Here in Whittier California we set ourself apart by providing a valuable service which allows us to earn your business not just for your first loan with us, but also for your mortgage financing needs in the future. We look at your situation and work with you to help improve your overall financial outlook. We have learned that sugar coating and making outlandish promises in the beginning to get your business does nothing positive for anyone, except cause a lot of heart ache and resentment, as well as losing your business, forever!
www.martinezhenry.com
www.martinezhenry.com
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