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mortgage, home mortgage, refinance, home equity loans, interest rates, lenders, refinance mortgage, calculator, apr, insurance, mortgage guide, credit rating, We Specialize in a Home Loan, Low Interest Rates, Mortgage Loans, Home Equity Loans, Equity Lines of Credit, Equity Credit Lines, Home Purchase Loans, Refinance, for Business Owners, Business Professionals, and Executives.

 

 

WE SPECIALIZE IN
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"SPECIALIZING IN
Home Loans,
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Specializing in:
Home Loans for Executives,
Home Loans for Business Owners, and
Home Loans for Business Professionals

 

 

 
Definition of a Home Loan: a loan secured by the borrower's home.
Definition of a Reverse Mortgage: a mortgage in which a homeowner, usually 62 years or older, borrows money against the equity of the home without having to make any payments.
Definition of a Home Equity Management: repositioning home equity to create a new earning asset.
Definition of a Home Equity Savings: simply restructuring the payment schedule on your existing loan, so that you don't pay as much interest thereby significantly reducing the number of payments to be made.
Definition of a Home Equity Line of Credit: a revolving line of credit in which your home serves as collateral.
Definition of a Home Purchase Loan: a loan for purchasing a new or used home.

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MyBLACKJACKET.COM - Our primary goal is to provide you with the information needed to make an informed decision about the financing of your home. We work specifically with Business Professionals, Business Owners and Executives to find them the home loan that works for their home and optimizes their cash flow, retirement, tax and other financial strategies. We specilize in home loans, refiance - home refinancing, home equity loans, debt consolidation, mortgage refiance, new home purchase loans, equity lines of credit for business owners, business professionals and executives.

There are dozens of loan types and hundreds of loan programs available through thousands of mortgage brokers, bankers, lenders, finance companies, credit unions, even stock brokerage firms. Contrary to popular belief, finding a mortgage doesn't begin with an application. Education is a better first choice.

First and foremost, you must determine how your mortgage payment will fit your current budget and, to some extent, your future obligations 15 to 30 years down the road. If you discover too late that you can't afford your mortgage, you'll not only face the possibility of losing the roof over your head, but you could also damage your ability to purchase a home later.

If you can afford to buy a home, you must then determine how much mortgage you can afford. Lenders are apt to put your loan application in the best light and qualify you for as much as they are willing to lend, which can be more than you can afford. It's up to you to take stock of your income and expenses, both current and projected, to determine what you can comfortably manage each month. Along with your mortgage payment, don't forget related insurance, taxes, homeowner association dues and any other costs rolled into the mortgage payment. If our way of doing business makes sense to you, call us at (949) 481-9026 Today!

Mortgage Basics
Likely the largest debt you'll ever take on, a mortgage is a loan to finance the purchase of your home, or to refinance it.

Your home is collateral for your mortgage loan, which is also a legal contract you sign to promise that you'll pay the debt, with interest and other costs, typically over 15 to 30 years.

If you don't pay the debt, the lender has the right to take back the property and sell it to cover the debt. To repay the debt, you make monthly installments or payments that typically include the principal, interest, taxes and insurance, together known as PIT or refinance.

Principal -- The principal is simply the sum of money you borrowed to buy your home.

Interest -- Usually expressed as a percentage called the interest rate, interest is what the lender charges you to use the money you borrowed.

The lender can also charge you points, and additional loan costs. Each point is one percent of the financed amount and is financed along with the principal. Principal and interest comprise the bulk of your monthly payments, which reduces your debt over a fixed period of time. With an Amortizing loan your monthly payments are largely interest during the early years.

In addition to your principal and interest, your mortgage payment can include money that's deposited in an escrow or trust account to pay certain taxes and insurance.

Generally, if your down payment is less than 20 percent, your lender considers your loan riskier than those with larger down payments. To offset that risk, the lender may charge a higher interest rate or have you pay more mortgage insurance.

Taxes -- The taxes are property taxes your community levies based on a percentage of the value of your home. The tax is generally used to help finance the cost of running your community, say to build schools, roads, infrastructure and other needs. You must pay property taxes even if you don't need an escrow account and even after your mortgage is paid off.

What Are My Mortgage Options?
The two most common types of mortgages are fixed-rate mortgages and adjustable-rate mortgages, known as ARMs.

A fixed-rated mortgage comes with an interest rate that remains the same for the life of the loan.

The life or term of a mortgage is 30 years by industry standards, but 20 and 40-year term loans are also available.

Shorter term loans come with cheaper interest rates. A 15-year mortgage's interest rate is typically one-quarter to one-half percent lower than a 30-year mortgage. Both the cheaper rate and the shorter term mean you'll also pay less over the life of the loan than you would if you borrowed the same amount of money with a long term loan.

Monthly payments of a shorter term loan, however, are generally higher than the same loan for a long term because the larger payments of

the short term loan are necessary to repay the debt sooner.

A long term loan with smaller monthly payments can be easier to budget, but if you have a stable salary that allows you to afford the larger monthly outlay, the shorter term loan could be to your advantage.

Whatever term you choose, fixed rate mortgages protect you from the risk of rising interest rates. Of course, since you are locked in to a given rate, you could end up with a rate higher than the going rate should rates fall.

The second major category of mortgages are Arms They come with interest rates that adjust up or down, depending upon current economic trends.

An ARM's rate is based on a money market index. The one-year U.S. Treasury bill is commonly used because its yield is similar to the 30-year US Treasury bill used to set rates on 30-year fixed mortgages. Arms might also be tied to other indexes, including certificates of deposit (CDs) or the London Inter-Bank Offer Rate (LIBOR) rates, among other regularly published indexes.

To come up with the ARM rate, the lender will add a "margin," usually two to four percentage points, to the index.

Initially, the ARM rate is lower than the fixed rate, from about a quarter point to two points or more, depending upon the economy. When the first adjustment occurs (from six months to many years) and how often the rate adjusts, depends upon the terms of the loan. After the first adjustment occurs, subsequent adjustments can occur every six months, once a year, or during larger periods. The adjustment period is disclosed in the loan.

Arms generally have limits or "caps" on how high it can adjust during each adjustment period as well as over the life of the loan.

The caps protect you from drastic market changes, but ARMS don't offer the stability of a fixed rate loan.

Arms lower initial rate, however, can help you qualify for a larger loan or start you off with smaller payments than you'd have to pay for the same mortgage with a higher fixed rate. And if index rates fall with an ARM, of course, so does your monthly mortgage.

Arms could also be a good choice for someone who knows his or her income will rise and at least keep pace with the loan rate's periodic adjustment cap. If you plan to move in a few years and are not concerned about the possibility of a higher rate, an ARM also could be a good choice.

CALL MYBLACKJACKET.COM TODAY! ---> (949) 481-9026
 
Home Loans, Refinance, Home Equity Loans, Mortgage Refinance,
Home Purchase Loan, Line of Credit,
Refinance Home Equity
WE SPECIALIZE IN HOME LOANS FOR: BUSINESS PROFESSIONALS, BUSINESS OWNERS AND EXECUTIVES
We offer competitive loan products and our service is legendary for getting loans that make sense.
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MYBLACKJACKET.COM is a mortgage loan guide to a network of home loan lenders for business professionals, executives and business owners – home equity loans, home equity line of credit, refinance mortgage, home loans, mortgage loans, home equity loan, personal, refinance mortgage, credit cards, lenders, leases, mortgage rates, credit score, lending tree, e-loan, Wells Fargo, Ditech

Guide to Financial Freedom
MYBLACKJACKET.COM serves California - Orange County, San Diego, Riverside, Los Angeles, San Beradino, Southern California areas and beyond which includes the following counties, cities and zipcodes: Tustin 92780, 92781, 92782, El Toro 92609, 92610, 92630. Anaheim 92801, 92802, 92803, 92804, 92805, 92806, 92807, 92808, 92809, 92812, 92814, 92815, 92816, 92817, 92825, 92850, 92899, Brea 92821, 92822, 92823, Buena Park 90620, 90621, 90622, 90623, 90624, Costa Mesa 92626, 92627, 92628, Cypress 90630, Fountain Valley 92708, 92728, Fullerton 92831, 92832, 92833, 92834, 92835, 92836, 92837, 92838, Garden Grove 92840, 92841, 92842, 92843, 92844, 92845, 92846, Huntington Beach 92605, 92615, 92646, 92647, 92648, 92649, La Habra 90631, 90632, 90633, La Palma 90623, Los Alamitos 90720, 90721, Orange 92856, 92857, 92859, 92861, 92862, 92863, 92864, 92865, 92866, 92867, 92868, 92869, Placentia 92870, 92871, Santa Ana 92701, 92702, 92703, 92704, 92705, 92706, 92707, 92708, 92711, 92712, 92725, 92728, 92735, 92799, Seal Beach 90740, Stanton 90680, Tustin 92780, 92781, 92782, Villa Park 92861, 92867, Westminister 92683, 92684, 92685, Yorba Linda 92885, 92886, 92887, Aliso Viejo 92653, 92656, 92698, Dana Point 92624, 92629, Irvine 92602, 92603, 92604, 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92414, 92415, 92418, 92420, 92423, 92424, 92427, Los Angeles 90001, 90002, 90003, 90004, 90005, 90006, 90007, 90008, 90009, 90010, 90011, 90012, 90013, 90014, 90015, 90016, 90017, 90018, 90019, 90020, 90021, 90022, 90023, 90024, 90025, 90026, 90027, 90028, 90029, 90030, 90031, 90032, 90033, 90034, 90035, 90036, 90037, 90038, 90039, 90040, 90041, 90042, 90043, 90044, 90045, 90046, 90047, 90048, 90049, 90050, 90051, 90052, 90053, 90054, 90055, 90056, 90057, 90058, 90059, 90060, 90061, 90062, 90063, 90064, 90065, 90066, 90067, 90068, 90069, 90070, 90071, 90072, 90073, 90074, 90075, 90076, 90077, 90078, 90079, 90080, 90081, 90082, 90083, 90084, 90086, 90087, 90088, 90089, 90091, 90093, 90094, 90095, 90096, 90097, 90099, 90101, 90102, 90103, 90174, 90185, 90189, 91331, 91335, La Mirada 90637, 90638, 90639, Santa Monica, 90401, 90402, 90403, 90404, 90405, 90406, 90407, 90408, 90409, 90410, 90411, Beverly Hills 90209, 90210, 90211, 90212, 90213, Glendale 91201, 91202, 91203, 91204, 91205, 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Some of our competitors are NOT: Wells Fargo, E-Loan, Lending Tree, DiTech, Bank of America, Citibank, Countrywide, Quicken Loans, National Mortgage, CountryWide Finanacial, Get Smart, Capital One, Gmac Mortgage, Home Financing of America, Mortgage Rates Experts, Real Estate Yahoo Loans, DiTech Mortgage Company, BD Nationwide Mortgage, Chase Home Equity Loans, First Interstate Bank Loans, Ace Mortgage Funding, Loan Busters, Mortgage Lenders Plus, Calibex, Modernlend, My Lender Store, Nextag Mortgages