Orange County Home Loans

By Shannon Gray

There are numerous Orange County home loan options, so we have highlighted the programs more commonly offered today. Characteristics of each loan program are unique. Please call us for more information and to become familiar with the details of the options available. Click here to APPLY ONLINE or visit this page if you are thinking of refinancing your existing mortgage. LifeSource Mortgage is the best source for your Orange County loan!

Below are links to the most common home loan options we provide:

• Fixed Rate Mortgages - 30 year, 20 year, 15 year and 10 year
• FHA Loan
• Adjustable Rate Mortgage "ARM"
• Interest Only
• Jumbo Loans
• VA Loans
• Reverse Mortgage
• HARP 2.0

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To help determine the best Orange County home loan option for you, consider the following questions:

How important is it knowing your exact monthly payment with no surprises?

If you want to know exactly what your monthly payment is then you should consider a fixed-rate mortgage.

Is it important to build up equity as fast as possible?

If rapid equity buildup is important to you, then consider a shorter amortization period and loan term, such as a 15-year, fixed-rate mortgage.

Will your income increase and/or stabilize in the near future?

If your income will increase very soon, then you could take advantage of a lower start rate on an adjustable rate mortgage or a temporary buy down. While this can be risky, if it fits your financial goals and current situation, it can work to your advantage.

Other factors you should consider are:

Your credit score and ability to qualify at market rates for the loan amount you need.

How long do you plan to live at your new home?

The possibility of significant rate changes.

Typical Questions When Applying For A Purchase Loan

What is the loan amount you need to purchase your home?

How much do you have for a down payment?

What is your credit score?

Have you had any credit issues? Bankruptcy? Foreclosure? Credit Card Debts?

Will this be your primary residence?

What type of property is it? Single Family? Condo?

Keep in mind these questions are not set in stone and some mortgage brokers or lenders may ask more specific questions. The questions above are just typical questions we initially ask, even before any formal loan application process is started. Be sure to check out all the home loan options we offer, and if your interested in refinancing your existing home loan call us for a free interest rate quote.

Related Resources:

Home Loan Process 101

5 Tips Before Buying A Home

Home Loan Application Do's & Don'ts

Common Mistakes Loan Applicants Make

Credit Tips

Why Work With A Mortgage Broker?

How to lower your property tax in Orange County

Map of Orange County

2012 Orange County School Rankings