Orange County Mortgage Brokers

Thanks to a growing housing market, increased consumer spending and more jobs, the United States has experienced almost 30 straight months of growth but for Orange County Mortgage Brokers, homeowners who plan on refinancing their mortgages or first time homebuyers who plan on applying for mortgage loans, the news isn’t all that great because, mortgage interest rates continue to climb and are now the highest they’ve been in over one year.

Mortgage Industry Statistics

As of today, the average Fixed-Rate for a 30 year mortgage is around 3.63%, this interest rate means that if someone wants to borrow $100,000, they will be expected to pay $800 or more for discounted points.

The jump in mortgage interest rates is now the worst since the late 1990’s and with Mortgage Interest Rates expected to continue going up in the months to come, Orange County Residents are encouraged to act quickly or face the possibility of paying $5,000 or more during the lifetime of their Orange County Mortgage Loan.

What To Look For In An Orange County Mortgage Broker

Thanks to the Internet, any Orange County Resident can find a mortgage broker in just a few minutes but the question that they should ask is: does the mortgage broker have experience?

Orange County Mortgage Brokers are many in today’s world and it pays to check the website, read referrals and inspect a mortgage brokers BBB Profile before choosing someone to help you refinance or buy your first Orange County Home.

To learn more about the mortgage interest rates that you qualify for, contact the experienced team of Orange County Mortgage Brokers at Sun Financial Group today by calling

(949) 699-1950 or by clicking here to schedule a free quote.

Mortgage Interest Rates are only going to go up in Orange County, don’t waste another day debating if you’re going to buy or refinance your home. 

Buying An Orange County Home? Here's What You Need To Know

Planning on buying an Orange County Home?

Before you get meet with an Orange County Mortgage Broker and get pre-qualified for a Mortgage Loan, to purchase a home, condo or investment property in Orange County, here’s what you need to do first.

Review Your Finances

The first step towards buying an Orange County Home is to sit down, analyze your monthly budget and ask yourself how large of a mortgage payment can you really afford?

With home prices in Orange County going up, it’s wise to take an honest look at your finances now because, this will save you the time and frustration later on of realizing that you took on a mortgage that’s made you live beyond your means.

Save 20% For A Down Payment

These days not everyone can save the 20% necessary for a down payment on an Orange County condo, town home or rental property but, 20% down is necessary because, most lenders will not even consider a mortgage application unless the applicant comes with the necessary down payment.

Review Your Credit Score

Another thing to do before applying for a mortgage loan is to review your credit score; you should have a credit scorethat’s at least a 650 or higher because, this will make you a more “attractive” borrower to the banks and also enable you to qualify for a HUD or FHA Loan.

Know The Real Estate Market

Every Orange County Resident knows exactly where they want to live in Orange County and you should too but you should also know how much the homes in your area are selling for so you can be better prepared to shop around for theOrange County Mortgage Loan that you need.

Get Pre-Qualified For A Mortgage Loan

After you’ve followed the tips in this article and have done your “homework” the next step is to get pre-qualified for an Orange County Mortgage Loan; contact Steven Williams at Sun Financial Group today by calling (949) 699-1950.

Buy an Orange County condo or house? Is either one better?

Should you buy a condo or a house? If you’ve just gotten pre-approved for an Orange County Mortgage and are planning on buying soon, you’ve probably seen a large amount of condo’s on the market but, before buying a condo, because it may seem more affordable, you should debate the pro’s and cons of condo vs. house.

Buying An Orange County Condo

Your Orange County Mortgage may stretch a little farther with an Orange County Condo but, are you really getting your money’s worth?

Pros: With a Condo you will enjoy a home that’s easy to upkeep since most of the maintenance will be taken care of including yard maintenance and what’s even better is that many orange County Condo’s are located in the center of town and are close to major attractions, restaurants and shopping centers.

Cons: buying an Orange County Condo does come with a lot of fees that go towards the convenience of professional landscaping and yard maintenance. Although fees are commonplace with every condo the downside of paying them is that condo owners really don’t have a say as to where their fees go and the total fees that a condo owner pays per year can equal or exceed the Orange County mortgage payment on a home.

Buying An Orange County Home

Pros: When you own an Orange County Home, your mortgage will really go farther because, you will enjoy a larger amount of square footage and benefits like a backyard that’s fenced and plenty of room for children and animals to run free.

Cons: Owning an Orange County home does come with more responsibilities like regular yard maintenance and the responsibility to maintain other parts of the home like the roof, plumbing and more but when you factor in the equity that you can enjoy from owning a home and long term peace-of-mind that comes with it, homeownership is definitely worth it.

To get an affordable Orange County Mortgage Loan, contact Steven Williams at Sun Financial Group today by calling (949) 699-1950.

Should you refinance your VA mortgage loan? Mortgage loan questions answered

Should you refinance your VA mortgage loan? This is a question that many Orange County Residents, who are Veterans or actively serving our military, are asking themselves right now and the answer to this question is yes.

Why Refinance Your VA Mortgage Loan?

A recent study done by the Federal Savings Bank shows that veterans and Active Servicemen or Women in Orange County, and across the United States, who refinance their mortgage loans, will improve the quality of their lives thanks to the Interest Rate Reduction Refinance Loan, a loan that will enable a Veteran, or person who is in active service, to lower their monthly mortgage payment and also their mortgage interest rate as well.

Average Savings

Thanks to the Federal Savings Bank Study, we know that Veterans in Orange County and elsewhere in the U.S., who have refinanced their mortgage loans, have been able to save an average of $3,600, this is just in interest alone, over a 12-month period.

The study also showed that homeowners, with VA loans, saved over 30 percent on mortgage interest rates and this is the biggest reduction in interest rates for mortgages that Orange County Mortgage Brokers and Top Mortgage Brokers have seen in almost 30-years.

Contact A Mortgage Broker Today

Yes you should refinance your VA mortgage loan as soon as possible because, mortgage interest rates may never be this low again; if you haven’t found a qualified, Orange County Mortgage Broker yet, what are you waiting for?

For a free Mortgage Consultation, contact Steven Williams at Sun Financial Group today by calling (949) 699-1950.

What Happened To The Best Orange County Mortgage Interest Rates?

Are the best Orange County mortgage interest rates gone forever? The answer to this question depends on whom you ask, if you bought a house 20 years ago, you may remember mortgage interest rates that were over 15% but for those homeowners who have only owned their homes over the last few years, any mortgage interest rate that’s over 10% seems excessive.

The mortgage interest rate for a 30-year mortgage loan rose this week to 3.53% and the mortgage interest rate for 15-year mortgages rose as well and according to Frank Nothaft, the Chief Economist with Freddie Mac, it looks like the all-time low mortgage interest rate is gone forever.

Don’t Wait To Refinance

Even though mortgage interest rates are still near their historic lows, Mr. Nothaft recommends that homeowners don’t wait to refinance their homes because, mortgage interest rates are not expected to go lower, especially as the economy continues to improve across the United States.

Besides Frank Nothaft’s opinion on mortgage interest rates, Greg McBride, an economist with Bankrate.com said in a recent interview that he expects mortgage interest rates to stay around 4% for the entire year and that’s assuming that there are no other major changes to the United States economy.

Home Prices Going Up Too

Besides low Orange County mortgage interest rates, Nothaft and McBride also predict that housing prices will continue to rise in 2013 and maintain their great gains that they’ve made over the last year so it’s going to be another great year for Orange County residents or homeowners across the United States who have been thinking of buying or selling their Orange County homes.

To learn more about the latest mortgage interest rates or to get an affordable quote for a mortgage interest loan, contact Sun Financial Group today by calling (949) 699-1950.

Freddie Mac Increases 15 & 30 Year Mortgage Interest Rates

Orange County Home Buyers who have been “sitting on the fence”, waiting for mortgage interest rates to go lower are literally kicking themselves today as it was announced that the 30-Year Mortgage Loan Interest Rate is now more than 3.5%; this is up from just 3.42% a few days ago.

The Time To Buy An Orange County Home Is Now

The increase in the 30-year loan mortgage interest rate is the first time that interest rates have gone over 3.5% since mid September 2012 and interest rates for 15-year mortgage loans also went up to 2.81% from just 2.71% the previous week, according to Freddie Mac.

Higher Rates Are Coming

Freddie Mac echoed what many people Orange County Mortgage Brokers already know in that as the economy continues to improve, mortgage interest rates will keep going up because; there will be more homebuyers on the market who are able to afford mortgage loans.

According to a recent Freddie Mac report, 2012 saw almost 400,000 new home sales and 2013 is expected to top last years numbers, this is good news for the Orange County Real Estate Market and it’s also a warning to potential homebuyers who have been waiting for better rates to come because, failing to wait for better Mortgage Interest Rates could cost the average homebuyer an extra $10,000 or more during the life of a 30-year mortgage loan.

Opportunities For Buyers With Excellent Credit

As of January 2013, many lenders are not offering loans to Orange County Home buyers that are almost 80% of a home or properties value; any Orange County Resident who is considering buying a home in this part of Southern California should shop around and get the best mortgage interest rate now while there is still home inventory left on the market for them to buy.

For an affordable Mortgage quote, contact Sun Financial Group today by calling Steven Williams at (949) 699-1950.

Orange County Luxury Home News

There’s never been a better time to buy an Orange County Home, especially a luxury Orange County Home because of historically low mortgage interest rates and a higher inventory of luxury homes on the housing market than in 2012.

Another Sign Of Improvement?

California home buyers who are in the market for their first mansions can rest assured that there will be plenty of properties on the market and now is the time to get an Orange County Mortgage Loan since home values for luxury homes in the area are going up every day.

As of January 30^th, 2013 there are a record number of luxury homes selling on the Orange County real estate market in excess of $5 million dollars and there are more homes selling for more than $1 million dollars than at any time in the last six years.

The Sellers Market

Top Orange County Realtors like Dave Fratello of the Real Group have confirmed that now is the time to buy a luxury Orange County home since prices in the current luxury home market appear to be approaching “bubble like” levels that Orange County Mortgage Brokers saw back in the earl 2000’s.

Some of the most popular places to buy a luxury Orange County home are: Manhattan Beach and Newport Beach where there is still low enough inventory and excellent prices for any Orange County Resident who is looking for a great deal on their first or second mansion.

Get An Affordable Mortgage Quote

If you’ve been thinking about buying an Orange County Mansion or luxury home, what have you been waiting for? Contact the experienced team of Orange County mortgage brokers at Sun Financial Group today by calling (949) 699-1950 for a free, no-hassle mortgage quote.

We can help you get a great mortgage loan so you can buy the Orange County Mansion of your dreams, contact us today to get started.