![]() With an adjustable-rate mortgage, your interest rate will change throughout the term of your loan. However, your interest rate may be higher than with an adjustable-rate mortgage. This can be helpful because it allows you to plan your budget around your monthly payment. With a fixed-rate mortgage, your interest rate will stay the same for the entire term of your loan. ![]() There are two types of conventional mortgages: fixed-rate and adjustable-rate. This means that if you default on your loan, you will not be protected by the government. No doubt.A conventional mortgage is a type of home loan that is not guaranteed or insured by the government. In the future, when it's time to refinance our home again, we will choose RK Mortgage again. RK Mortgage was definitely the right choice for us. Although the whole process took longer than we anticipated due to certain complication of our case, we were very satisfied and very happy with their service. I never felt left out throughout the process until closing. She was reliable and always reachable one way or the other. Every time I was confused, she was always there to help. She walked through all the steps with me. Lucrece was very helpful and gave us hope about the refinance. Then, I decided to give one last broker a try. After getting tired of either being rejected by well-known lenders or getting quoted with outrageously unaffordable interest rates, we were about to give up our renovation plan to upgrade our new house. As a foreigner, it was not easy at all to get a refinance with reasonable interest rates. We just moved to the US from Thailand last year and bought a house. Everyone we dealt with through her office was very professional and friendly, but we love Joelle, and after all the back and forth with her though out this process, consider her a friend! I will always go back to her and recommend anyone to go to her company. We renovated and of course went back to her to refinance on a normal mortgage. We thought we were not going to be able to buy the house, but she made it work for us. She was always available either immediately or usually returned calls within an hour. Joelle worked tirelessly to help us get a hard money loan so that we could get this house and renovate it. Because the kitchen cabinets and most of the flooring was missing, it was considered unlivable and therefore could not get a normal mortgage. We were buying a house that needed renovation in a neighborhood we loved. We have owned somewhere in the neighborhood of 20 houses, and used mortgages on all of them, so we know what we're talking about! Joelle is the most professional loan officer we've had by far. This fee is usually collected monthly to take care of maintenance and repair issues associated with common area.Ībsolutely without question the best mortgage company we have ever worked with. ![]() ![]() Enter HOA fee: A homeowner association fee is common when you purchase a condo, townhouse or home which is located inside gated community.Like taxes, though, homeowner’s insurance costs can greatly vary from place to place. Enter Homeowners Insurance: We use state and national averages when estimating your property insurance.Please feel free to enter specific property tax for more accurate estimate. Enter Property Taxes: We use state and national averages to estimate your property taxes.You may also choose adjustable rate mortgage which almost always come in a 15 or 30 year term. Enter Mortgage Period: 15 and 30 year mortgage terms are most common for fixed rate mortgages.Lenders consider several factors including your credit score, down payment, term and lending fees. Enter Interest Rate: Your exact interest rate will be determined by your lender after you apply for a loan.Enter Home Price: The total sale price of a property negotiated between seller and buyer.How To Use California VA Mortgage Calculator? Our California VA mortgage calculator lets you estimate your monthly mortgage payment breakdown, schedule, and more. Understanding your monthly payment is an important part of the process. We know that buying a home can be complicated.
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