Mortgage Loan Acronyms

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  The finance world is full of acronyms and jargon that can be confusing. Here is a list of common mortgage loan acronyms with brief explanations to keep you in the know. At the bottom, we have included a downloadable PDF version of this article for future reference.   LE – Loan Estimate The LE… [Read More]

Loan Process: Step-By-Step

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This is a step-by-step outline of the mortgage loan process. This is the same process we use here at West-Cal Mortgage to provide borrowers with the best possible loan programs. 1. Pre-Qualification An initial phone call with a loan officer is made to review and discuss the borrowers needs and loan options. Knowledgeable mortgage brokers… [Read More]

Alt Doc Loans Are Back!

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Rumor has it that No Doc, Stated Income, and Bank Statement mortgages that were so popular before the 2008 housing bubble are once again becoming available. There is some truth in that statement. Since the law surrounding income verification changed after the real estate crisis, these non-traditional loan programs are now called “alternative documentation loans”(alt… [Read More]

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