Palmdale Mortgage Loan – Financing
My name is Wes Darby and I am a real estate agent in Palmdale, CA and I can correlate your needs with the different mortgage companies and what type of borrowers they do the best for and save you a lot of time shopping around for the best loan for you. Make no mistake, I am not a Palmdale mortgage loan broker myself, just a real estate agent who can help direct you to the best sources for your particular needs. Each time you run your credit with a different mortgage broker/lender an “inquiry” shows up on your credit report. If you are shopping all over town for your mortgage and each of those companies is running your credit, it has a negative impact on your score, and that’s something that we really don’t want. I add serious value for you by directing you to the lenders most likely to give you the best interest rates and terms for your loan. I have only your best interests in mind in doing this (and mine so you buy a house through me). I do not receive any sort of payment or anything from the mortgage lenders that I refer you to.
If you need a mortgage loan I can help guide you to the mortgage companies that I know to give the best APR’s and terms for you. Some mortgage companies prefer to finance real estate like the more expensive homes, some prefer applicants that have steady regular jobs (and not the self employed). Some mortgage companies give better rates to smaller loan borrowers, while other mortgage companies give the better rates to buyers of the bigger or more expensive homes. I can save you a lot of time and energy by directing you to the mortgage companies most likely to give you the best terms for your Pamldale real estate purchase. If your credit rating isn’t top tier, if you work for yourself, or are a regular wage earner I can tell you which companies will most likely serve you best. Mortgage loans are tougher to get than they were before the mortgage and financial crisis which began in 2007. Before 2007 if you wanted to buy some real estate in Palmdale, CA or anywhere else for that matter, the mortgage companies had a loan qualifying test we called the “mirror test” which meant they would simply put a mirror under your nose and if you were breathing and could fog up the mirror, well… loan approved! Well now they seem to want to over compensate for their past. Be ready to dig up all sorts of financial paperwork, and I suggest you be up-front about any financial information that could be of significance. Palmdale, CA real estate seems to be a great value and my logic and background as a real estate agent tells me that our area will see big price increases in the near future, which makes for a great investment now.
As Palmdale, CA real estate agents my colleagues at Keller Williams and I have gotten lots of good feedback from previous home buyers as to which lenders are the best fit for certain borrowers.
Finding the right home for you is the primary goal, but you enjoying that home with a lower payment and/or better mortgage terms is also important. Keller Williams and I have researched and worked with many mortgage brokers and lenders in the Palmdale and Lancaster, CA area real estate markets, and we can help you to contact those that are the best fit for you and your general financial and credit situation.
The traditional mortgage – What I call a traditional mortgage means a mortgage made to someone who works a steady reliable job and is either on a salary or getting a fairly consistent amount of pay each month or week. If you give me a general idea of your credit standing, either a score or other helpful information, I can steer you to a few lenders that are most likely the best fit for you. Certain mortgage companies/lenders offer better interest rates to home buyers with certain credit parameters. I do not mean that home buyers with better credit ratings always get lower rates, what I am getting at is that the interest rates for a certain credit rating group (that you might be in) are not consistent across different real estate mortgage lenders. Every Palmdale mortgage loan broker and most real estate lenders have a tendency to work within their own requirements and procedures, and experience tells me which are the best fit for certain borrowers. I know which are going to treat you right and give you the best terms, and I will guide you to them.
If you work for yourself – I’ve had personal experience with this one. I used to be a landscape contractor and ran my own business. I did not have consistent work or pay and keeping track of my finances was a real nightmare. At the time I was making a pretty good living (by my standards). I thought I would buy some real estate here in Palmdale, CA but couldn’t get a loan no matter how hard I tried. Since then I’ve been relentless in my efforts to repair my credit rating because I know how important it is, especially today. After the real estate crisis that started around 2007 it has become even more difficult than it was back then:( If you are a self-employed and looking for a mortgage loan just be ready to have your financial life looked at with a high powered microscope. That being said, I do know certain real estate mortgage lenders that will be most likely to approve you and give you the best terms available. Gone are the days of what I jokingly call the “mirror test” where a loan officer would put a mirror under your nose, and if you were breathing and could fog up the mirror with your breath, they would approve the loan. That’s what got our country into the financial crisis in the first place.
If your credit isn’t so great – The credit rating bureaus like Equifax and Experian seem to have more stringent guidelines since the real estate and mortgage crisis. It seems easy to get a few dings on your credit report. Maybe you weren’t even aware of that late payment, or collection, or it was a mistake all together. Whatever the case, if your credit rating isn’t so great, you can expect that your loan conditions might be less than ideal. I would love to sugar coat it, but that’s the hard truth. The benefits of home ownership will still outweigh possibly paying and extra point on your APR. What I see happening with home loans for my buyer clients with not so great credit ratings is that the lenders want a little more down payment, or the APR is a point or so higher. Before you buy any Palmdale real estate if you have the time, you can do a little credit repair and wait a while for your credit rating to get better. In my opinion the sooner you can buy real estate the better though. Home Values aren’t going down any time soon , only up as I see it. Your savings in your monthly payments due to a possible lower future interest rate will be offset by an overall increase in real estate prices. And interest rates are just about at an all time low, and this can’t continue, so I suggest you bite the bullet and buy now if you can. I know the lenders in the Palmdale and Lancaster area real estate markets ready to provide good mortgage loans for less than high end credit scores, and I would be happy to tell you who they are.
Adjustable rate mortgages – I generally do not recommend adjustable rate mortgages for your traditional Palmdale real estate purchase. These are definitely what got a lot of home buyers into trouble before the mortgage crisis that started around 2007. Home buyers and real estate investors were seeing skyrocketing home values prior to the real estate crisis. These adjustable rate morgages seemed appropriate at that time but when the interest rates on their loans rose (which exponentially increases the mortgage payment) and home values went south it led to record numbers of foreclosures. And it did make good sense to walk away from being in an upside-down situation on this distressed real estate. I wouldn’t want to see anyone set themselves up for failure in the Palmdale, CA real estate market. These loans still make sense for a very select group of real estate buyers only. Palmdale real estate investors that plan on keeping the property five years or less might consider this option. The benefits of these adjustable rate mortgages is that they generally offer lower interest rates and monthly payments that are much lower than a traditional loan.
Closing costs and fees – Usually when you get a conventional mortgage loan there will be some fees and closing costs involved. There is usually a documentation fee which is just what the lender charges for the processing of the paperwork. There are “points” sometimes added to the loan. These “points” are a percentage of the total loan amount. I usually see one or two percentage points added to a given Palmdale real estate loan transaction. It is required by law that you the borrower will receive a disclosure of all the closing costs involved in your transaction. These closing costs break down the total amount of money that will be paid over the course of the loan, including the aggregate of interest and principle paid over the course of the loan term. This disclosure is required by lawn an known as RESPA (Real Estate Settlement Procedures Act). I encourage you the real estate buyer to read these disclosures carefully, as they are for your benefit and allow you to shop for better terms.
Real Estate Listings from Palmdale Realtor Wes Darby
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- Map View
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Lot Size6,970 sqft
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Home Size2,112 sqft
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Beds4 Beds
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Baths4 Baths
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Year Built1989
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Days on Market0
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Lot Size7,406 sqft
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Home Size1,600 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1991
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Days on Market0
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Lot Size7,406 sqft
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Home Size1,807 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built2003
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Days on Market1
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Lot Size20,038 sqft
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Home Size2,765 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1997
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Days on Market1
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Lot Size6,534 sqft
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Home Size1,522 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1990
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Days on Market1
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Lot Size7,406 sqft
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Home Size1,136 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1986
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Days on Market1
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Lot Size13,504 sqft
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Home Size2,732 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built2001
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Days on Market1
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Lot Size5.17 ac
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Home Size2,128 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2001
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Days on Market1
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Lot Size2.50 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market2
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Lot Size15,682 sqft
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Home Size1,414 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1990
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Days on Market2
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Lot Size2.49 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market2
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Lot Size5.78 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market2
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Lot Size9,148 sqft
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Home Size1,494 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1991
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Days on Market2
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Lot Size18,731 sqft
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Home Size2,350 sqft
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Beds4 Beds
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Baths4 Baths
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Year Built1992
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Days on Market3
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Lot Size4.83 ac
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Home Size853 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1986
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Days on Market3
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Lot Size19.38 ac
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Home Size1,272 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1970
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Days on Market4
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Lot Size5,663 sqft
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Home Size2,815 sqft
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Beds4 Beds
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Baths4 Baths
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Year Built2005
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Days on Market4
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Lot Size2.57 ac
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Home Size2,904 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1983
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Days on Market4
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Lot Size4,356 sqft
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Home Size
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Beds1 Bed
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Baths1 Bath
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Year Built0
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Days on Market4
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Lot Size10.10 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market4
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Lot Size40,947 sqft
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Home Size2,304 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1978
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Days on Market4
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Lot Size7,841 sqft
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Home Size1,876 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1993
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Days on Market4
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Lot Size6,970 sqft
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Home Size2,564 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1989
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Days on Market5
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Lot Size28.42 ac
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Home Size1,440 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1969
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Days on Market5
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Lot Size5.03 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market6
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Lot Size8.17 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market6
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Lot Size2.66 ac
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Home Size600 sqft
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Beds1 Bed
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Baths1 Bath
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Year Built1955
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Days on Market6
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Lot Size6.50 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market7
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Lot Size7,406 sqft
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Home Size1,860 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1994
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Days on Market7
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Lot Size8,277 sqft
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Home Size3,013 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built2012
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Days on Market8
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Lot Size6,970 sqft
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Home Size1,452 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1982
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Days on Market9
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Lot Size2.26 ac
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Home Size1,000 sqft
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Beds
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Baths
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Year Built1989
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Days on Market9
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Lot Size6,970 sqft
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Home Size1,114 sqft
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Beds3 Beds
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Baths4 Baths
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Year Built1988
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Days on Market9
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Lot Size6,970 sqft
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Home Size1,502 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1984
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Days on Market9
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Lot Size2.61 ac
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Home Size1,660 sqft
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Beds
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Baths
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Year Built2020
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Days on Market9
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Lot Size6,970 sqft
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Home Size1,770 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1954
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Days on Market10
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Lot Size23,087 sqft
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Home Size1,134 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1986
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Days on Market10
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Lot Size
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Home Size1,842 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built2021
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Days on Market10
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Lot Size6,534 sqft
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Home Size3,512 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2006
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Days on Market10
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Lot Size2.82 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market11
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Lot Size8,277 sqft
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Home Size1,286 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1955
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Days on Market11
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Lot Size3.25 ac
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Home Size
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Beds
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Baths
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Year Built0
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Days on Market11
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Lot Size3,921 sqft
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Home Size981 sqft
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Beds
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Baths
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Year Built1953
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Days on Market11
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Lot Size2.30 ac
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Home Size2,272 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1995
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Days on Market11
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See all Real estate matching your search.
(all data current as of
1/15/2021)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Lancaster, CA Real Estate Listings from Real Estate Agent “Mr. Palmcaster”
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Lot Size6,534 sqft
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Home Size1,402 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1985
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Days on Market0
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Lot Size7,406 sqft
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Home Size1,377 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1990
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Days on Market1
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Lot Size1.13 ac
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Home Size725 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1952
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Days on Market1
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Lot Size6,099 sqft
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Home Size2,120 sqft
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Beds5 Beds
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Baths2 Baths
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Year Built1978
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Days on Market1
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Lot Size
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Home Size966 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1973
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Days on Market1
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Lot Size
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Home Size966 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1973
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Days on Market1
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Lot Size6,970 sqft
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Home Size1,326 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1985
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Days on Market1
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Lot Size9,148 sqft
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Home Size2,843 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2004
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Days on Market1
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Lot Size8,277 sqft
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Home Size1,791 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built2001
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Days on Market2
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Lot Size16,118 sqft
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Home Size1,739 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1997
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Days on Market2
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Lot Size20,909 sqft
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Home Size1,382 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1951
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Days on Market2
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Lot Size1.12 ac
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Home Size1,402 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1984
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Days on Market3
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Lot Size10,019 sqft
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Home Size2,213 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1990
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Days on Market3
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Lot Size7,841 sqft
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Home Size2,734 sqft
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Beds4 Beds
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Baths4 Baths
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Year Built2006
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Days on Market4
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Lot Size1,307 sqft
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Home Size1,360 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1984
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Days on Market4
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Lot Size9,148 sqft
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Home Size1,400 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1977
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Days on Market4
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Lot Size7,406 sqft
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Home Size2,235 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1989
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Days on Market4
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Lot Size7,841 sqft
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Home Size1,820 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1966
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Days on Market6
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Lot Size6,970 sqft
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Home Size3,036 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built2010
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Days on Market7
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Lot Size7,406 sqft
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Home Size1,441 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built2005
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Days on Market8
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Lot Size7,406 sqft
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Home Size1,831 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built2006
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Days on Market8
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Lot Size7,406 sqft
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Home Size1,532 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1976
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Days on Market8
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Lot Size8,277 sqft
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Home Size2,766 sqft
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Beds5 Beds
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Baths3 Baths
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Year Built2005
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Days on Market8
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Lot Size6,099 sqft
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Home Size1,791 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built2001
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Days on Market9
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Lot Size7,841 sqft
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Home Size2,933 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built2014
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Days on Market9
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Lot Size2.51 ac
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Home Size3,182 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1990
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Days on Market11
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-
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Lot Size8,712 sqft
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Home Size1,602 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1994
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Days on Market11
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-
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Lot Size8,277 sqft
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Home Size1,305 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1984
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Days on Market16
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-
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Lot Size
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Home Size1,488 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1978
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Days on Market20
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-
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Lot Size3.17 ac
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Home Size938 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1983
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Days on Market24
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-
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Lot Size7,406 sqft
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Home Size1,650 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1954
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Days on Market25
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-
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Lot Size9,584 sqft
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Home Size2,481 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built2012
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Days on Market26
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-
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Lot Size5,663 sqft
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Home Size1,841 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built2006
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Days on Market26
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-
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Lot Size6,970 sqft
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Home Size1,187 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1955
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Days on Market27
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-
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Lot Size6,534 sqft
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Home Size1,426 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1955
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Days on Market28
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-
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Lot Size6,099 sqft
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Home Size1,010 sqft
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Beds3 Beds
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Baths1 Bath
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Year Built1953
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Days on Market28
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Lot Size6,534 sqft
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Home Size1,672 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1990
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Days on Market28
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Lot Size1.27 ac
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Home Size984 sqft
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Beds3 Beds
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Baths1 Bath
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Year Built1958
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Days on Market29
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Lot Size17,424 sqft
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Home Size2,952 sqft
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Beds5 Beds
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Baths4 Baths
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Year Built2004
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Days on Market30
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Lot Size2.39 ac
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Home Size2,135 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1981
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Days on Market31
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See all Real estate matching your search.
(all data current as of
1/15/2021)
Listing information deemed reliable but not guaranteed. Read full disclaimer.