What is a mortgage, and why you should know the difference before choosing?
When it comes to home buying or home financing, there is no step more important than getting a mortgage. A mortgage is a loan that is obtained from a bank or mortgage lender and used as leverage to finance a home (since few people have the funds available to make such a large purchase on their own).
When it comes to choosing a mortgage, there are additional decisions to be made. The five basic mortgage types in the state of California include:
NON QM LOAN
Three Key Benefits of Financing
Understanding the basics to home financing in California
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What You Need To Apply
for home financing with Capital Management Realty, Inc.
Pre - Approval it's as easy as one-two-three. At Capital Management Realty, Inc., you only need a handful of financial forms and records to qualify for home financing pre-approval. Once your financial documents and proof of income are verified, we will issue you a confirmation letter indicating your pre-approval status. It’s that simple!
One month’s worth of your most recent pay stubs, if you are self-employed, just your tax returns will do.
Two of your most recent monthly bank statements, plus any other asset you can present to show proof of income.
Tax returns, including W-2s, for the last two years
A copy of any photo ID and Social Security card