Patrick Lopez and Associates of Keller Williams VIP Properties is in partnership with Pacfic Funding Mortgage Division.

• Frequently Asked Questions about Home Mortgage Loans
  Why should I "lock in" an interest rate?
  When interest rates are volatile, borrowers may want to "lock in" a rate in the event that rates should happen to rise in the near future. Most lenders will lock in an interest rate and set a limit on the amount of time that guaranteed rate. Click here for more...
• First Time Home Buyer Mortgage Information
  What are the differences between renting and buying? What is the cost of buying a home? What can I expect as a first time home buyer? Click here for more...
• The Home Mortgage Lending Process
  Once you've found the home you want and negotiated a price that you and the seller agree on, it's time to get your loan. When you submit a loan application, you can expect to complete lots of paperwork and provide information about your employment history, financial assets and liabilities, and credit. Click here for more...
• Home Loan Application Checklist
  To begin processing your home loan, you will need to provide items such as personal information, property information, and documents to insure your loan qualifications. Click here for more...
• Credit Basics
  For years, consumers have been left in the dark about true credit score factors, and how they affect one's ability to get a loan. Learn more about credit scores, their importance in loan qualification, and more by clicking here.
• Pre-Approval vs. Pre-Qualification
  What is the difference between "Loan Pre-Qualification" and "Loan Pre-Approval"? Click here for details...
• Home Ownership Tax Benefits
  One of the biggest advantages of owning a home is that the interest on your mortgage is 100% tax deductible. Loan fees and points paid to discount your interest rate are also deductible. Click here for more...
• Closing Costs
  In addition to the down payment, you will be responsible for paying certain average mortgage closing costs in order to complete the mortgage transaction. Average mortgage closing costs range from 3% to 6% of a home's purchase price. Click here for more...
• Loan Programs
  Learn the differences between fixed-rate mortgages, adjustable rate loans, jumbo loans, and more...and how they affect your home purchase. Click here...
• Adjustable Rate Mortgages
  One potentially advantageous loan program, in a rising interest rate environment, is the sometimes-overlooked Adjustable Rate Mortgage. Commonly referred to as an ARM, this type of mortgage can offer superior flexibility and savings over fixed rate mortgages. Click here for more...
• Why Mortgage Rates Change
  One common mortgage industry misconception is the correlation between the Federal Reserve Board's announcements to raise or lower interest rates and the direct effect on fixed mortgage rates. While the two are connected, they don't always go hand-in-hand. Click here for more...
• Glossary of Terms
  A detailed list of important terms and phrases that can help you better understand the home loan process. Click here...