How much help should I expect from a Pacific Access Mortgage Loan Officer?
Our commitment is to provide top quality service. Our loan officers have a full range of loan programs to offer and the very latest technology to expedite the loan process. They will listen to your needs and make sure they understand you completely, then discuss your options and make sure you thoroughly understand them. From application through funding, we make the loan process simple and convenient . . . for you!
What if my credit is less than perfect?
Pacific Access Mortgage
offers programs for consumers whose credit has been impaired in the past. If you have a history of
bankruptcy, late payments or other credit problems, we are here to help you determine possible financing options.
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What is equity?
Equity is the difference between the amount for which a home can be sold and the amount still owed on the mortgage. This important difference represents the homeowner's financial interest in the property. A homeowner can borrow against the equity in his/her home with a home loan and use the funds for virtually any purpose . . . from debt consolidation to major purchases to home improvements. Because the loan is mortgage-based, interest on the home loan may also be tax deductible. Consult your tax advisor to see whether this advantage applies to you!
What is the difference between a fixed rate and adjustable rate mortgage?
A
fixed rate mortgage provides a rate of interest that remains the same for the life of the loan. An adjustable (or variable) rate mortgage (
ARM) has an interest rate that adjusts periodically on the basis of changes in a specified financial
index. Typically, adjustable rate mortgages start out at somewhat lower rates than fixed rate mortgages. They can fluctuate up, raising the monthly payment, or down, lowering the monthly payment, depending on the activity of the index to which they are tied. Our loan consultants can discuss the advantages of both types of mortgages to help you decide which product is best for you.
Does it make sense to
refinance if I recently obtained a mortgage loan?
It might be a good time to refinance even if you recently obtained a mortgage. Given today's favorable interest rates, a rate lower than the one on your current mortgage may be available and may result in savings every month. By consolidating your existing first and second mortgages . . . as well as outstanding credit card balances and other debt into a single mortgage loan payment, you might be able to save a considerable amount. You can also benefit from the convenience of one single monthly payment. Our loan consultants can help you determine if this option works to your best advantage!
How much can I afford in mortgage payments?
How much you can afford depends entirely on your specific personal financial situation. Our loan consultants can help you find out exactly what that amount may be. For a quick estimate, use the
Loan Calculator conveniently located on our website.
These three letters stand for
Annual Percentage Rate . . . that is the total cost on a yearly basis in interest as a percentage of the loan amount. This figure includes such items as the base interest rate, primary mortgage insurance and the loan origination fee (
points). For more information, see our
APR Information page
It couldn't be easier. Just give us a call, or submit an application or prequalification form shown in the
Inquire Now! section of our website.
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