{"id":483,"date":"2013-01-09T05:01:13","date_gmt":"2013-01-09T05:01:13","guid":{"rendered":"https:\/\/www.jimwilsonhomeloans.com\/?page_id=483"},"modified":"2017-10-04T10:38:46","modified_gmt":"2017-10-04T17:38:46","slug":"alamo-ca","status":"publish","type":"page","link":"https:\/\/www.jimwilsonhomeloans.com\/mortgage\/alamo-ca","title":{"rendered":"Alamo California"},"content":{"rendered":"<h1 class=\"heading\"><strong>Mortgage Loans for Alamo, CA<\/strong><\/h1>\n<p>For over 5,000 years, people have enjoyed living in the Alamo, CA area. Today, Alamo, California is home to just under 15,000 residents. Alamo is a small, unincorporated community of less than 10 square miles located in Contra Costa County. Small and charming as it may be, Alamo is also home to an affluent population with a high median household income. Million dollar homes are common in the area. With its beautiful setting and close proximity to larger cities, Alamo, CA is an attractive place to call home. However, upscale real estate listings demand smart mortgage choices. Preferred Mortgage matches Alamo homebuyers with competitive home loans.<\/p>\n<p>Buying a home is the single largest investment you will make and having a professional mortgage broker there to walk you through the buying process will make that experience much more enjoyable. We take the time to explain the buying process from beginning to end in terminology that\u2019s easy to understand. We save you time by explaining the many different loans and homebuyer programs that are available to find the one that best fits your needs. Then we get you pre-qualified so when you find the home of your dreams you\u2019re ready to buy it.<\/p>\n<h2>Prospective Home Buyers Info About Alamo<\/h2>\n<h4>Top Ranked Schools in Alamo<\/h4>\n<table class=\"school-rating\">\n<tr>\n<td>\n<div class=\"green ball\">10\/10<\/div>\n<\/td>\n<td>Rancho Romero Elementary School<\/td>\n<\/tr>\n<tr>\n<td>\n<div class=\"green ball\">9\/10<\/div>\n<\/td>\n<td>Alamo Elementary School, Stone Valley Middle School\n<\/td>\n<\/tr>\n<tr>\n<td>\n<div class=\"grey ball\">NR<\/div>\n<\/td>\n<td>Central County Special Education Programs School\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">Rating data provided by Great Schools<\/td>\n<\/tr>\n<\/table>\n<h4>Outdoor Recreation &#8211; Parks<\/h4>\n<ul style=\"margin-bottom:30px;list-style-type: disc;padding-left: 30px;display:inline-block;\">\n<li>Alamo School Field and Batting Cages*<\/li>\n<li>Andrew H. Young Park<\/li>\n<li>Hap Magee Ranch Park<\/li>\n<li>Livorna Park<\/li>\n<li>Rancho Romero School Sports Field and Park*<\/li>\n<\/ul>\n<p>* Open to public after school hours<\/p>\n<h2 id=\"save-money\">Save Money by Choosing Us<\/h2>\n<p>Preferred Mortgage has teamed with lending institutions large and small across the country to bring our customers the very best of what is available. We are able to beat our competitors&#8217; rates and pricing due to our preferred lending status with our partner institutions. That allows us to pass the savings along to you, our customers.<\/p>\n<h2 id=\"first-time\">First Time Home Buyer for Alamo &#8211; READ THIS<\/h2>\n<p>If you have never purchased a home before then you are eligible for special incentives given by lending institutions and also the U.S. Government. Every financial situation is unique and we will help you discover all the savings and benefits available to you. We work very hard to save folks money and with you the first time buyer the amount of savings is usually the highest. We look forward to helping you select the loan that&#8217;s right for you.<\/p>\n<h2 id=\"rental-loans\"><em>Investment Property Mortgage Loans for Alamo<\/em><\/h2>\n<p>Whether you\u2019re looking to purchase or refinance we have the resources to help you with your investment financing. We finance and offer cash-out options for financing up to 10 investment properties. We have conventional financing with as little as 10% down on purchases with Homepath and 20% down on Fannie and Freddie programs. With residential rents at all time highs and interest rates at all time lows it\u2019s a great time to own rental properties. Call us now to refinance or get prequalified for your next investment.<\/p>\n<div class=\"show-bullets\">\n<h2>FAQ &#8211; Frequently Asked Mortgage Questions<\/h2>\n<ol class=\"spaced\">\n<li><strong><a>What will a lender look at when I apply for a mortgage?<\/a><\/strong>\n<ul>\n<li>When applying for a loan lenders typically look at your credit score, assets, down payment amount, household income, and overall debt.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>What does it mean to get prequalified?<\/a><\/strong>\n<ul>\n<li>Prequalification is an estimate of how much you will be able to borrow. You supply the lender with some basic information about your income, debts and assets. The lender checks your information and gives you a general estimate of home loan amount and monthly payments. Prequalification only takes a few minutes and it&#8217;s free.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>What does it mean to get preapproved?<\/a><\/strong>\n<ul>\n<li>With preapproval, lenders review some basics about your finances and provide you with an official letter that states that as long as you meet certain conditions, you will be approved for a specific loan amount and loan program. That allows you to shop with confidence, as sellers often require a preapproval when you go to bid on a home. Learn more about the preapproval step in the loan process.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>Do I have to have a specific property in mind?<\/a><\/strong>\n<ul>\n<li>No. Often before shopping for a home, prospective homebuyers set a budget. Get prequalified or preapproved and we&#8217;ll help you determine how much of a monthly mortgage you can afford and how much you might be able to borrow.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>What is the minimum down payment I can make on a home?<\/a><\/strong>\n<ul>\n<li>It depends. Generally speaking, lenders require you to put down between 3.5% to 20% of the home&#8217;s value. See the side by side comparison of the mortgage programs.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>Will I have to pay for Private Mortgage Insurance (PMI)?<\/a><\/strong>\n<ul>\n<li>Typically, if your loan amount is more than 80% of the home&#8217;s appraised value, you will be required to obtain private mortgage insurance known as PMI.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>What is the difference between a second home and an investment property?<\/a><\/strong>\n<ul>\n<li>A second home is a home you use personally. The mortgage process for a second home is very similar to your primary home mortgage. An investment property is a property you rent out (become a landlord) or buy for the purpose of fixing up and selling at a higher value. This could be an apartment property, condominium, or single family residence.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>What if I have had credit problems? Will I be turned down for a loan?<\/a><\/strong>\n<ul>\n<li>Not necessarily. Even if you have had credit problems, you may still qualify for a loan. Your credit score is only one of the factors to qualify for a loan. Lenders also look at your employment history, income, debt, and cash reserves.<\/li>\n<\/ul>\n<\/li>\n<li><strong><a>Can I apply a gift towards a down payment?<\/a><\/strong>\n<ul>\n<li>FHA loans allow homebuyers to use gift funds to help cover the cost of the down payment. In many cases, some or all of the down payment may be a gift from a family member, the borrower&#8217;s employer or labor union, or a charitable organization.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<div style=\"height: 60px; background: url('https:\/\/www.jimwilsonhomeloans.com\/wp-content\/themes\/exquisite\/images\/arrow-white.gif') no-repeat scroll 243px 0px #EEEEEE;\" class=\"callout\">\n<div style=\"position: relative; float: left; left: 15px; top: 4px;\">\n<h3 style=\"text-align: left;\">FREE QUOTE<\/h3>\n<h4 style=\"margin-bottom: 16px; text-align: left;\">QUICK, EASY, NO OBLIGATION<\/h4>\n<\/div>\n<div style=\"float: right; position: relative; right: 25px; top: 19px;\">\n<p style=\"margin-bottom:0;\"><a href=\"https:\/\/www.jimwilsonhomeloans.com\/about-jim-wilson\" class=\"button-simple_orange\">Contact Jim<\/a><\/p>\n<\/div>\n<\/div>\n<h2>Some terms to Know<\/h2>\n<ul class=\"spaced\">\n<li><strong>Annual Percentage Rate (APR):<\/strong> The rate of interest on a yearly basis which includes charges on the mortgage loan and the interest payment.<\/li>\n<li><strong>Adjustable Rate Mortgage (ARM):<\/strong> A home loan program in which the interest rate and the monthly payment are adjusted at regular intervals according to the changes in a specified index.<\/li>\n<li><strong>Credit Score:<\/strong> A numerical quantity reflecting a borrower&#8217;s credit worthiness. Used by lenders to find out the risk in approving a home loan.<\/li>\n<li><strong>Closing:<\/strong> The final step in the loan process when the seller transfers title to the buyer, the buyer signs the loan documents and receives the loan amount from the lender.<\/li>\n<li><strong>Closing Costs:<\/strong> Fees paid by the borrower at closing. These include charges for originating and processing the loan.<\/li>\n<li><strong>Down Payment:<\/strong> The amount of cash which the home buyer pays towards the purchase price at closing.<\/li>\n<li><strong>Debt-to-income ratio (DTI):<\/strong> The ratio of the monthly debt to the pre-tax gross monthly income.<\/li>\n<li><strong>Escrow Account:<\/strong> Bank account into which lender deposits part of the monthly payments made by borrower. The deposits include payments towards property taxes, homeowners insurance and mortgage insurance.<\/li>\n<li><strong>Fixed Rate Mortgage:<\/strong> A home loan program on which the interest rate does not vary throughout the life of the loan.<\/li>\n<li><strong>Housing Ratio:<\/strong> The ratio of the monthly housing costs to the pre-tax gross monthly income.<\/li>\n<li><strong>Mortgagee and Mortgagor:<\/strong> The former is the lender offering the loan and the latter is the borrower.<\/li>\n<li><strong>Mortgage:<\/strong> A legal process by which you can take out a loan against your own property &#8211; residential or commercial. The same property is held as the security for the repayment of the debt.<\/li>\n<li><strong>Mortgage Note:<\/strong> It is your written promise to pay off the loan amount on certain terms and conditions. The note also mentions what the lender is likely to do if you default.<\/li>\n<li><strong>Private Mortgage Insurance:<\/strong> Insurance policy offered by an insurance company in order to protect the lender from losses if the borrower defaults on his payments.<\/li>\n<li><strong>Rate lock\/Lock-in:<\/strong> A written commitment which guarantees a fixed rate on your loan for a certain time period before closing. Usually, rates are locked for 30, 45 or 90 days till the closing date.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage Loans for Alamo, CA For over 5,000 years, people have enjoyed living in the Alamo, CA area. Today, Alamo, California is home to just under 15,000 residents. Alamo is a small, unincorporated community of less than 10 square miles [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":532,"parent":3,"menu_order":0,"comment_status":"open","ping_status":"open","template":"template-city.php","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Best Rates for First Time Home Buyer Mortgage Loans for Alamo, CA<\/title>\n<meta name=\"description\" content=\"Jim Wilson and Preferred Mortgage help first time home buyers get the best rates for mortgage loans in Alamo, CA\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.jimwilsonhomeloans.com\/mortgage\/alamo-ca\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Best Rates 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