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California Mortgage Broker
LBC Mortgage began as a small company back in 2008, focusing on residential mortgages, hard money lending, purchase money loans and FHA Financing for Los Angeles residents.
As time went by, we managed to establish a reputation of trustworthy provider of comprehensive real estate services and became leaders in our field in the State of California.
How we can help you
(818) 309-2999
Conventional Loans
The most common form of home loan, and it offers a more set structure for borrowers.
Portfolio Loans
Portfolio mortgage loans is a perfect option if you’re self-employed or a private contractor.
Jumbo Loans
Jumbo mortgages exist to fund luxury properties or homes in very competitive local real estate areas.
FHA Loans
Qualify for the FHA loan with a down payment of only 3.5% as well as a credit score of 580 or above
VA Loans
VA loan is a type of a mortgage loan that is meant for people, who served or are currently serving in U.S. military forces
Piggyback Loans
Piggyback mortgage loan, officially known as an 80-10-10 loan, is a great way to save money on buying a home.
Statistic
Use our Mortgage Calculator to estimate your monthly mortgage payment. You can input a different home price, down payment, loan term and interest rate to see how your monthly payment changes.
How not to mess up your chances of mortgage approval
Believe it or not, getting mortgage approval is not as hard for the majority as keeping it. However, there are a few bumps in the road, so to speak, that you should avoid.
The entire process of a mortgage approval takes about 30 days, give or take, and during this time, any events may affect your loan. For instance, losing your job or becoming ill will significantly affect your mortgage loan approval. In addition, during this time, the lender has a right to revoke your mortgage approval.
Of course, such life-changing events are not easy, if not, at times, impossible, to control. However, there are a few things you can keep in check. With that in mind, here is a list of things you should avoid doing between the date of the application and the date of funding. Each one of these items could instigate a revocation of your approval.
Find out new 2022 California conforming loan limits here.
Step by step
It would be best if you refrained from career changes, such as leaving your current job to change industries or start your own company. This also includes switching from salary to commission-paid job.
Buying or leasing a new, more expensive car might not be a great idea either. Of course, if your lease is about to expire, you would have to renew it. However, you should consult with your loan officer first.
Avoid transferring large sums of money between accounts.
Pay your bills on time, and this one goes without saying.
Avoid opening new credit cards, even if they offer excellent conditions. Remember, any further inquiry on your credit report will have to be explained to the lender.
Refrain from random undocumented deposits to your accounts. This includes cash gifts without proper paperwork. Undocumented cash deposits will provoke the lender to disallow the gift.
Of course, these are just a few things we came up with. Indeed, there is more. Our mission is to help you through this complicated process and successfully fund your loan.
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Everything you need to know about Conventional Loans
Conventional loans, also called conforming mortgages, are ideal for first time buyer and follow simple conservative guidelines: borrower’s credit score, minimum down payments and debt-to-income ratios (a percentage of monthly income that has to be spent on pay off all borrower’s loans, credit cards and child support).
Who can qualify for FHA Loans
FHA loans are mortgages insured by Federal Housing Administration. FHA loans are known for lower lending standards and are highly popular among first time buyers with low credit scores. One of the most beneficial advantages of FHA loans is the allowance to get a loan with a down payment of as low as 3.5%.
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