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Home > Financial Services > Mortgage Brokers > 1st California Funding Group
1st California Funding Group
A Mortgage is a document that contains the details of an agreement between two parties. One of which is a borrower and the other party is a lender. The Agreement will include information like, Loan amount, Time period of the loan, Interest and the collateral on the loan which is normally the property being bought. A mortgage broker is generally a person or company whose expertise lies in the field of mortgage laws, properties available for sale, and loan procedures. They provide these services to clients for a fee which is usually a percentage of the loan or property amount.
First California Funding has been serving San Diegans since 1985. During that time the company has grown steadily in size and services offered. They currently have a team of almost 50 independent representatives who utilize the expertise of related financial and support organizations to serve not only San Diego but the entire USA. Their in-house loan processing assures personal attention to the details of every loan and the support of every client.
The Company provides financing and financial solutions for most any situation. Some of their services include Home Loans, Business Loans, Equity Lines of Credit, Investment mortgages, Equipment Leases, Second Mortgages, and Receivable Financing, SBA Loans.
They have relationships with a variety of Lenders allowing them the flexibility to offer the best rates to their clients without regard to location or personal situation. In fact, over the years, First California Funding has been recognized as the number one Broker in San Diego by a number of nationally knows Lenders. Their size affords them access to the latest technology in the finance business but their independence also ensures their clients get the best rates and the highest level of personal service.
Investment Loans type of real estate loan is used for clients considering the purchase of an investment property. Because the lenders consider this a higher risk than owner occupied property there is an additional cost. The cost normally takes the form of a higher upfront charge of 1 percent to 2 percent of the loan value or a higher rate of interest. Banks typically allow about 75 percent of the rental income to be included in the qualification calculations.
SBA Loans have longer terms and are government backed. They include both real estate and business. Down payment is required and varies; new business is at least 20 percent down.
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