Getting qualified before you apply for a loan can help you understand how much you can borrow.

When buying a house, you may get pre-qualified or pre-approved. You can typically get pre-qualified over the phone or on the Internet in a few minutes. A pre-qualification is not as beneficial as a pre-approval where you have to go through a more rigorous process which includes verification of your credit, income, assets and liabilities. It is highly recommended that you get pre-approved before you start looking for a house. This will help you:

1. Find out the maximum house you can buy, so you don't waste time looking for properties you can not afford.
2. Puts you in a stronger position when you are negotiating with the seller, because the seller knows that your loan is already approved.
3. Helps you close quickly, since your loan is already approved.

Once your loan application has been received we will start the loan approval process immediately. This involves verifying your:

1. Credit history
2. Employment history
3. Assets including your bank accounts, stocks, mutual fund and retirement accounts
4. Property value

Based on your specific situation, additional documents or verifications may be required. To improve your chances of getting a loan approval:

1. Fill out the loan application completely.
2. Respond promptly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date.
3. Do not make any major purchases. Do not buy a car, furniture or another house till your loan is closed. Anything that causes your debts to increase might have an adverse affect on your current application.
4. Do not move money into your bank accounts unless it can be traced. If you are receiving money from friends, family or other relatives, please contact us.
5. Do not go out of town around the closing date. If you do plan to be out of town when your loan is expected to close, you may sign a power of attorney, to authorize another individual to sign on your behalf.

After your loan is approved, you will be required to sign the final loan documents. This will normally take place in front of a notary public. Be prepared to:

1. Bring a cashiers check for your down payment and closing costs if required. Personal checks are normally not accepted.
2. Review the final loan documents. Make sure that the interest rate and loan terms are what you were promised. Also, verify that the name and address on the loan documents are accurate.
3. Sign the loan documents.

Your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.

Services Include:

• California Home Equity Loan
  The equity you have in your home is one of the best sources of funds available to most consumers. Not just the low interest rate of the money available but also the flexible ways in which you can repay this note. This equity can be in the form of a Home Equity Line of Credit (HELOC) or a Stand Alone 2nd Mortgage. Use this equity in your home to get cash out for things such as vacations, your children's education, cars or anything else you might want. We have many creative ways to tap into your equity, take advantage of today’s low rates and let your equity go to work for you.
• California Debt Consolidation Loan
  Debt is a growing problem among consumers today. Americans are now carrying $683 billion in revolving credit card debt. That’s not the amount we charge every month; it’s the outstanding unpaid balances on which people pay interest. And, according to a report by Cambridge Consumer Credit Index, 47% of the people who paid less than the full amount on their credit card bills in a recent month, made only the minimum payment due. In fact, only 13% of Americans with an outstanding balance could afford to pay more than half the balance. Home Equity Loan Source can help consolidate your high interest debt. Your overall monthly payments can be reduced and may even be Tax deductible.*
• California New Purchase Home Loan
  With Home Equity Loan Source you have the ability to choose from numerous loan programs. We have over 90 different money sources, we will find a program that’s right for you. These programs include special financing for First Time Home Buyers, 100% financing for those borrowers with limited funds for a down payment as well as many others. We also provide financing for those home buyers with bad credit. Make your dream of home ownership come true with a new home purchase loan regardless of your current financial situation with Home Equity Loan Source.
• California Mortgage Refinancing Loan
  Home Equity Loan Source provides refinancing solutions for borrowers with all types of credit and refinancing needs. Apply now and take advantage of some of the lowest interest rates in 30 years before they disappear. By getting a lower interest rate when you refinance your current home mortgage, you will save yourself thousands to tens of thousands of dollars in interest over the life of your loan. There are also programs designed for investors, which have very low start rates and four pay options each month. Contact us and let us help you decide which refinance option best fits your needs.
• California Second Mortgage Loans
  If you would like to lower your monthly payments or get that extra money needed without touching your original mortgage, Home Equity Loan Source can help. We will put you in touch with experienced loan officers that will find loan options that meet your needs at a payment you can afford. Our goal is to help you save money by getting pre-qualified lenders to compete for your second mortgage business.