Mortgages and Credit
Types of Mortgages
Coldwell Banker Mortgage Services - www.netmovein.com
Mortgage 101.com - www.mortgage101.com/
Mortgage Rates –
Merrill Lynch - mlcc.ml.com
Bank Rate.com - www.bankrate.com
Importance of FICO Scores - www.myfico.com/
Mortgage Brokers – For a listing of Mortgage Brokers please call Sarah at (626) 568-7256 or click here to send an email to her at Sarah@SarahRogersEstates.com.
Credit Report - Many lenders recommend that you run your credit report before applying for a home loan. If there are any discrepancies on the report, you should clear them up ahead of time. You may contact the three main Credit Reporting Agencies for your credit report:
Experian (www.experian.com/) (800) 682-7654
Equifax (www.equifax.com/) (800) 685-1111
TransUnion (www.transunion.com/index.jsp) (800) 851-2674
Escrow
West Coast Escrow - www.westcoastescrow.com/
Title Insurance
Title Company Services
Equity Title Company - http://equitytitle.com/
First American Title Company of Los Angeles - www.fatcola.com/inside/links.cfm
Underwriting Library - ulj.firstam.com
Common Ways of Holding Title - www.intervalleyescrow.com/ways.asp
Living Trusts - www.nolo.com
Homeowner’s Insurance
When purchasing a home, most escrow companies will require buyers to pre-pay the first year’s Homeowner’s Insurance policy premium in order to close escrow. It is a good idea for buyers to have an insurance carrier or insurance agent in mind ahead of time. Some large insurers are not writing new homeowner’s policies in California, and some insurance companies are not writing new policies if a homeowner has had a claim at their current property. In addition, some insurance companies are requiring that the policy holder have “clean” credit, not just “acceptable” credit. It is a good idea to research various insurance carriers and their products. Link to www.ambest.com/
Earthquake Insurance
In California, if a buyer elects to have earthquake insurance, he or she may be eligible to obtain coverage through the California Earthquake Authority. The CEA is a privately funded, publicly managed organization that provides Californians the ability to protect themselves and their homes from earthquake loss. The CEA is state-chartered insurance company unaffiliated with the California Department of Insurance. If a residence is insured by an insurance company that is a member of the CEA, the earthquake insurance offered by the insurer is a CEA policy. For information about CEA policies, please contact your insurance agent or the CEA directly at (916) 853-4400, or visit www.EarthquakeAuthority.com. You may also call the California Department of Insurance’s Consumer Hotline at (800) 927- HELP. Not all insurance companies are members of the CEA; therefore some insurance companies will write a homeowner’s policy, but not an earthquake insurance policy in California. Furthermore, some insurance companies will only write the earthquake policy if the homeowner’s policy is through the same carrier. To learn more, contact an insurance agent or visit www.insurance.ca.gov/
1031 Tax Deferrred Exchange
U.S. National 103 Exchange - www.usnational1031.com
LA 1031 - www.firstexchange.com
Downstream Exchange - www.downstreamexchange.com/
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Federal law prohibits housing discrimination based on your race, color, national origin, religion, sex, family status, or disability.
