Home Purchase, Refinance & Home Equity Loans
IS A HELOC/HOME EQUITY LINE OF CREDIT RIGHT FOR YOU??
USE HOME EQUITY PRODUCTS FOR DEBT CONSOLIDATION, HOME IMPROVEMENT,
2ND HOME OR INVESTMENT PROPERTY PURCHASE
FOR EVERY $50,000 IN FUNDS WITHDRAWN FROM CREDIT LINE
=
ESTIMATED $450 - $500 PER MONTH PAYMENT
CONTACT ME FOR MORE INFORMATION!
Loan Products & Programs
- Fixed & ARMs
- Home Equity Loan and Lines of Credit Loans
- FHA Loans
- VA Loans
- 100% Home Purchase Financing
- Jumbo Loans
- Investment Property Loans, 1sts and 2nd'
- Reverse Mortgages
My #1 goal is to be an advocate for my client. I am a Licensed Loan Officer/CA Mortgage Broker and have been in the Home Lending Industry for over 20 years. Specializing in Home Purchase, Refinance Loans, Reverse Mortgage and Home Equity Loans/Lines of Credit, I monitor Financial Markets closely to insure your rate is locked in at the best possible time.
My attention-to-detail and client care are the roots of my successful two decade track record in the Home Lending Industry. Whether you are purchasing a new home, refinancing your current home loan or taking out Equity through a 2nd Mortgage/Heloc, I am here to assist you.
Check out my Zillow Reviews!
https://www.zillow.com/lender-profile/Paul%20Mondello/
REVERSE MORTGAGES'
Eliminate your mortgage payments & get the cash you need quickly.
We are a FHA Approved Reverse Mortgage Loan Lender providing reverse mortgage loans for 62+ seniors, allowing them to access the equity in their house easily during their lifetimes. Plan for your retirement and improve your financial situation using a Reverse Mortgage Loan as your retirement income stream.
TYPES OF REVERSE MORTGAGES
ADJUSTABLE RATE
HECM Annual Adjustable Rate
HECM Annual is a reverse mortgage loan whose interest rate adjusts once a year, with a “lifetime cap” to ensure a Home Owner will never go beyond a certain percentage over the initial rate. In addition, there’s an “interval cap” that guarantees that the interest rate cannot increase by more than a certain percentage annually. And to help provide financial flexibility, there is the choice to take out funds as a lump sum, monthly advances, a line of credit or a combination of these.
HECM Monthly Adjustable Rate
The interest rate on this Line of Credit fluctuates on a monthly basis, and includes a “rate cap” that guarantees that the rate will never go up more than a certain percent over the initial rate. Home Owners' can select a lump sum draw, line of credit, monthly advances, or a combination of options are possible. For example, it an option to take some of the cash up front and put the rest in a line of credit, so it’s available when and if they need it.
FIXED RATE
HECM Fixed Rate
With an interest rate that’s established at the loan closing — and fixed for the life of the loan — a borrower always knows exactly how much interest is accruing on the loan. With a HECM Fixed Rate, homeowners take all of their money at closing in one lump sum. This may be a desirable choice if funds are being utilized to pay off an existing mortgage or cover other immediate needs.