What Does Oceanside Mortgage Company Can Offer to Homebuyers

You have been wanting to buy your dream house after long years of working through a mortgage. However, you don’t know where to start your journey for this. Luckily, you hear about the Oceanside Mortgage Company that can help you with this service.

So, what exactly do they offer? In this article, we will discuss everything you need to know about the company. Then, let’s begin!

Oceanside Mortgage Company About

For almost 25 years, Oceanside Mortgage Company has had a reputation for its honesty, integrity, and dedication to ethical lending. On top of that, they provide the most competitive mortgage rates in the market along with an unrivaled level of customer service.

When it comes to finding the perfect mortgage loan for your situation, the company can cover you with that. As a direct FHA, VA, and Conventional lender with licenses in 47 states, they are one of the top FHA streamline and VA Interest Rate Reduction lenders across America. Additionally, they offer an extensive array of other financial products as well.

Moreover, with years of experience and a devoted team of Licensed Mortgage Specialists, they offer clients an easy, stress-free lending journey. As a family-run business for over 25 years now, they recognize the customers and employees as part of the “family”.

Oceanside Mortgage Company Products

A mortgage is a type of loan that provides individuals with the funds to purchase a home. It typically involves a loan from a bank, credit union, or other lenders, so it pays to do your research when looking for the right one. Securing the funds for a down payment is just one important factor in the equation; you should also consider loan type, interest rate, and many other details when evaluating mortgage options.

Homeownership comes with responsibilities and costs, but there are certain advantages that come with buying a home. Mortgages are an important element in ensuring that people have access to one of the largest and most rewarding investments they can make – owning their own home.

With Oceanside Mortgage Company, they can help you on choosing the right product for you. Below are some of the products they offer to homebuyers.

USDA Home Loan Program

The U.S. Department of Agriculture’s Home Loan Program is a unique program that can help qualified individuals purchase a home in rural areas or small towns and villages around the country. Most USDA Home Loans are provided with low-interest rates and do not require a down payment, nor need to be insured by FHA. The great thing about this program is that it helps those who may not have access to traditional banking products by offering an alternative option for financing a new home.

Furthermore, there are several repayment plans available depending on individual circumstances, so you should be able to find an arrangement that works for you. All in all, if you’re looking to purchase a home but worry about not qualifying due to financial constraints.

Benefits:

• Low-interest rates
• No-cost down payment offer
• Financing assistance for closing expenses

Department of Veterans Affairs Home Mortgage Program

The Department of Veterans Affairs Home Mortgage Program is a great resource for active military members and veterans when it comes to buying a home. It is also known as VA Loan, which is an approach that allows borrowers to access funds to purchase a home without all the same requirements and restrictions that you might find with other lenders. Additionally, it simplifies the process in large part due to its very attractive terms.

Plus, the U.S. government backs up this loan which guarantees to refinance or pay off the loan. Overall, this program offers former and current service members many advantages when it comes to buying a home.

Benefits:

• Cheaper monthly payments
• Low-interest rate
• No need for an appraisal process
• Have a discount on the funding fee
• Tailored loan solutions

The Life Ring Program

The Life Ring Program is specifically for those who are struggling to stay in their current home or find another suitable residence. This program provides an innovative solution to the financial challenges posed by difficult times. It offers a range of services and resources that help individuals keep their homes, as well as options that prevent foreclosure.

In addition, this program can also provide support to those looking to purchase a new home if they are unable to qualify for other loan products. Through this program, Oceanside can help people secure the funds they need to get into a house that meets their needs and budget.

Benefits:

• Streamline your debts
• Low monthly payments
• Jump over two mortgage installments
• Upgrade your credit rating
• Get extra money at closing

Requirements:

• An impressive credit score of 500 or above
• Maximize your borrowing potential and take advantage of up to 80% of the value that your home has been appraised at
• Keep your debt-to-income ratio at or below 50%
• Making 1-2 years of timely mortgage payments

Cash Out Refinance

A Cash Out Refinance gives homeowners the freedom to access their home equity for other investments, debt consolidation, and major purchases. This type of refinancing works differently than a traditional refinance. Instead of just replacing an existing loan with another one, it allows the borrower to take out additional money beyond what’s owed on the original mortgage.

With all the extra cash in hand, homeowners will have the flexibility to supplement their income or pay off other expensive debts while simultaneously increasing the value of their homes. It’s an effective financial strategy that can help reduce debt, save money, and increase property value.

Benefits:

• Cut down on your monthly expenses
• Reap the rewards of immediate cash at closing
• Renovate or repair your home
• Save money and get out of debt faster with consolidation

Requirements:

• A credit score of approximately 550
• Having a Debt-To-Income Ratio (DTI) that is below 50%
• Leverage up to 80% of the appraised valuation of your home

Oceanside Mortgage Company Application Process

At Oceanside Mortgage Company, it’s easy to apply for a loan and begin on the road to owning a home. Here is the process:

1. You will need to fill out the online application with all your information and the documents they require.
2. Once you submit your application, their loan specialist will review it and contact you to discuss further details and answer any questions you may have.
3. During this step, the loan specialist will guide you through the loan process and help you decide which type of mortgage is best for your situation.
4. Then, after selecting a loan, the loan specialist will complete all necessary paperwork and submit it to their underwriting department.
5. Next, the underwriting team reviews the documents and works with lenders to secure the best loan option for you.
6. Finally, once you get approval, the company will work with you to complete all remaining steps such as signing closing documents, scheduling a home inspection, and more.

Final Thoughts on Oceanside Mortgage Company

Oceanside Mortgage Company is a great option for anyone looking to purchase a home. They have a wide array of loan products and services, tailored to meet the needs of their clients.

Furthermore, they provide discounts on the funding fee and offer cash-out refinancing options that can help reduce debt and save money. With their streamlined application process and knowledgeable loan specialists, you can trust that this company is the right choice for your home loan needs.

Now that you know more about the services provided by them, it’s time to explore your options and get ready to make the home of your dreams a reality. Good luck!

FAQs

Q: What is the minimum credit score to qualify for a loan with Oceanside Mortgage Company?

A: The minimum credit score needed to qualify for a loan with Oceanside Mortgage Company is 500.

Q: Is there an application fee?

A: No, there is no application fee when applying for a loan with Oceanside Mortgage Company.

Q: What other requirements do I need to be approved for a loan?

A: Other than a credit score of 500 or higher, you must also have a Debt-To-Income (DTI) ratio below 50%, and leverage up to 80% of the appraised valuation of your home.

Quick Links: Tips & Info | Lending Path Mortgage | First Alliance Home Mortgage | West Gate Bank Mortgage