Our client would like to be approved for a home mortgage loan from a Reputable Lender in the San Bernardino area of California. They have just sold their home, which closes in 2 months time and they need to find a place to live within the next two months.  They could have saved themselves some time, if they had gone through the process of being pre-approved for a mortgage so that they would be able to place a firm offer on a home instead of a conditional offer.

This client appears to be managing his finances well and although they do not have a large down payment, they have substantial income which can easily carry the mortgage payments on a home mortgage loan. There are many reputable lenders in the San Bernardino area and we are confident that they will be able to be approved for a mortgage.

Regarding their credit rating, they also appear to have an excellent credit rating, since they are pretty careful about paying their monthly bills, loans and credit cards.  They should not only be able to find a reputable lender, they should also be able to find competitive rates as well from several lenders in the area.

In the mortgage calculations at the bottom of this post, we have shown several options which they may be interested in. There is the standard 30 year mortgage, there is a 15 year mortgage both with payments on a monthly basis. We also added a bimonthly payment i.e. payments every 2 weeks, to demonstrate to them the difference in total interest paid as well as the difference in monthly payments. A fifteen year mortgage can save our client a substantial amount of interest over the standard 30 year mortgage. The client can obviously afford either and may want to choose and option that allows him to repay his home mortgage loan more quickly and reduce his overall interest cost on the mortgage.

Reputable lenders will be more than interested to discuss these options with him to determine the best option for his home mortgage and provide competitive interest rates as well as mortgage terms that the client will find attractive.

Home/Mortgage Loan Amount :: $250,000

Home Loan Application and Processing Speed (when do you need the funds):: Within the next two weeks, we have an offer on a home and conditions must be waived within a 2 week period or we lose the house.

Do you currently have a mortgage? :: Yes, however we have sold our existing home and will discharge the mortgage upon sale completion

Bank Name and Branch :: Security Bank of California, San Bernardino Office

What City/Town, State and County do you live in? :: San Bernardino, California

Zip :: 92407

What is your employment field? :: Movie Industry

Employment Position :: Set Designer for major action movies

When are you paid? (monthly/weekly/biweekly):: Biweekly

Your credit rating to be – excellent, fair, or bad? :: fair to excellent

How did you find us? :: checking for banks on the net

How are you paid? (direct deposit/paper check):: Direct deposit

Gross Amount Per Paycheck :: $3460 for myself and $2100 for my wife for a total of $5560

Do you agree to have this information published online, without your PRIVATE information of course? :: Sure

Extra information here please (some detail):: We are really excited about the new home we want to move into. Actually it is a resale, not a new home, and the price is really great for this area. We are trying to take advantage of the reduction in home prices and move up in terms of location and also the size of the home. We have an offer in on the house with a financial condition that we can get approval for financing from a bank for a home mortgage loan. We are new to the San Bernardino area and are trying to find a reputable lender that will give us a great rate on the mortgage and great terms.

We have sold our existing home, which will close in two months time, so we are in a bit of a rush to find a home that we can close the deal and move into within that time frame.  We will be discharging our existing mortgage as well and will have approximately $40,000 from the proceeds to place as a down payment on the house.  Our credit rating is excellent as far as we know. We have a couple of credit cards and routinely make all our payments to these credit cards and also all of our utility bills. As far as we know we have never missed any payments or been late for any payments.

Note to Lender :: We also have one car loan at a ridiculously low interest rate, which we pay monthly. We both work in the movie industry. I work as a set designer for major movies and have so much work ahead of me, it is difficult to keep up with it all. The action type movies take a lot of time and effort as well as detailed design to get it just right. My wife works as an accountant for one of the movie developers and has been employed there for the past 12 years. We both make excellent money and could afford more, but we want to be cautious and not over extend ourselves.