Over the past decade or so, California has come to be one of the best and most sought after states to live in. With the beach being readily accessible, and having some of the best school districts in the nation many people from all over the United States and foreign countries flock to California in hopes of owning a home. Mortgage companies are overjoyed by this. Many companies, if not all, constantly lower their mortgage rates to attract more attention; many companies will vie with one another to have you mortgage with this. This means that by looking around you are able to obtain some of the lowest rates around. At East West Mortgage, we offer a constant low rate compared to the mortgage market. The current mortgage market for California is much lower than in the past few months. This means you will be able to save a lot of money on interest payments alone. Our rates are competitive if not better than the rates offered by other companies. Our low rates and our wide range of mortgage and loans allow us to find the best plan for you.
Fixed Rate Mortgage:
If you are first time home buyer you might want a fixed rate mortgage is the preferred mortgage rate by many. Over 75% of our borrowers obtain a fixed rate mortgage. A fixed rate mortgage offers stability; basically, a fixed rate mortgage provides you with a locked mortgage rate. This mortgage rate will remain the same, even if the mortgage market is doing badly, until the loan is paid off in full. You will not need to worry about fluctuating interest rates and paying more one month than the other, you have a steady fixed rate. A steady fixed allows you to get your payment ready. Many of our customers love the fixed rate mortgage because of the predictability. They know how much they will have to pay each month, so they set aside that amount. You will not have any “surprises,” and you will be able to make your payments on time!
Adjustable Rate Mortgage:
An adjustable rate mortgage (ARM) is a great loan for those who like to take a risk; generally this type of rate is for people who are experienced in the mortgage market. This risk offers the borrower a chance to obtain great low mortgage rates. An ARM is an interest rate that adjusts, changes its' rates, depending on the mortgage market. When you are obtaining your loan, you are able to set when you want your monthly rates to be adjusted. Keep in mind that if the market is doing badly and you set a long term before the rates change, you could be stuck with a high interest rate. Vice versa, you could obtain a good mortgage rate for a long time span. The mortgage rate fluctuates to try to coincide with the mortgage market. This loan is very risky. One month you can have a great low interest rate, and the other you could have a bad high mortgage rate. If you are knowledgeable in the mortgage market, than you should be able to play the market and save thousands! Let East West Mortgage help you achieve your dreams!
Apply now by clicking the apply now button! You can call our toll free number: 1-800-880-4202 to speak with a mortgage professionals.
