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Residential Loans
Unless one has a significant amount of cash ready and available in an easy-to-get-to bank account, buying residential property is going to involve financing, which means applying for a residential loan. Especially with the level of property prices today, even after the 2008 housing bubble crisis, the price of a home or land is so much only a few percent of the population can outright purchase a property plot cash down.

To solve this problem, a variety of financing tools are available, with varying degrees of difficulty in obtaining them. Some of this fluctuation is due to market leniency or lack of it. When times are tough and lots of folks are borrowing, loan criteria for approval gets tight. When times are good, residential loans are made more attractive with easier lending to bring in customers. There's a loan for everyone and every situation, from custom-built homes to those down on their luck but are looking to buy a first home. However, not all of these residential loans are good and some should be outright steered away from, but financing is possible in many cases.


Types of Residential Loans
Mortgages - the most common of the bunch, home loans are used the most for residential loans, particularly where people are buying a pre-made, pre-constructed home. Such properties are sold in groups by recognized developers. In many cases, the developers push a favored lender on customers to work with, offering special incentives to use that lender for a loan rather than someone else. The relationship benefits both the developer in fees and the preferred lender in additional directed business.

First Mortgages or First Home Loans - As a unique aspect of mortgages, first time mortgages benefit those who've never bought a house before and want to get into the market. To help stimulate economic growth, the federal 

government helps guarantee such loans through government corporations that underwrite them. These loans do come with restrictions to avoid parties from taken advantage of the benefits. Such limits can include the type of house bought, the total amount to be financed on the loan, and the amount of interest charged to the applicant. Without such programs, first-time buyers dependent on lending to get into a first home with a lower income would be significantly challenged at getting approved. Such loans frequently finance as much as 90 to 95 percent of the total purchase cost with a minimal down payment.

9744 Wilshire Boulevard, Suite 203 Beverly Hills, CA 90212
phonePhone. 310.888.0040 faxFax. 310.888.1897 efaxeFax. 310.760.4060
BBB Accerdited Business FDIC All loans are made in compliance with Federal, State, and Local laws. California Capital Mortgage Bank is a California Finance Lender under DBO license #60DBO45483. California Capital Mortgage Bank is an equal opportunity lender.