Mortgage Center

Working with direct lenders often gives you the most direct experience comparing to using a mortgage broker who will shop around the loan programs from different lenders.  Although direct lenders are often limited to their own available loan programs and some borrowers feel the need to shop around different lenders, most of the top lenders do have competitive programs.  Also, sometimes offers submitted with pre-qualification or pre-approval letters by direct lenders are treated as more qualified offers to sellers.  For most bank owned properties, the bank sellers often require pre-qualification by their chosen loan officers as well.

If you are looking for the best financing options with low or no down payment and lower credit score requirements and you qualify as a FIRST TIME HOME BUYER (have not owned a property in the last 3 years), you should consult the following loan officers for FHA loans (3.5% down payment only), CA HFA loans, and VA loans (0% down payment for veterans and no mortgage insurance).  We will help you get well prepared for your home purchase with the best financing options available. 

• Please note for 2010 the federal FHA loans work up to $729,750 and buyers can take advantage of the minimum 3.5% down payment for any amount less than $729,750. Yes, 3.5% down payment is still possible for loans above $417,000, just requiring 2 independent appraisals.
• If you have to use FHA financing for your home purchase, besides qualifying you as the borrower for the loan, we also need to qualify the particular property you are interested in purchasing as well.  Click here for a list of FHA-approved condominiums.  Single-family homes always require FHA spot approval so it is on a case-by-case basis.
• Most FHA/Conventional lenders have a minimum credit score requirement of 620.  There are credit repair companies that may be able to help on improving your credit score if you need it.
• Besides the credit score requirement, the most critical factor that determines qualification on a loan is the debt to income ratio.  Most FHA and conventional lenders will allow a maximum of 41% (ratio of total monthly debt payments including mortgage and other debt payments vs. monthly gross income).  Click here for a detailed explanation on the FHA website.
• Please note the increased amount of conforming loans limit ($729,750 in Los Angeles County for 2009) also means easier financing for conventional owner-occupied financing.

The following is a list of the best direct lender loan officers.  We only recommend the BEST people out there.  The only objectives to send you to work with them is to provide you with the same quality service in loan application and ensure YOUR success in closing escrow on time.  There is no monetary incentives for us to recommend you to work with any of the following direct lenders.  We rely on the best loan professionals to make our lives easier and minimize the last minute headaches for our clients.  Note many less confident lenders may ask for your loan application fee of $350-$450 upfront, just to get you pre-qualified or pre-approved.  Our preferred lenders DO NOT ask you for such a fee.  It is FREE to get pre-qualified and pre-approved, by working with them and their fees are paid at the close of escrow.

Greenland Capital:
Allen Huang  (Speaks Chinese)
Direct:  626-864-5366
E-Mail:   allenh168@verizon.net

Here is the Standard Loan Application HUD 1003 Form which all mortgage professionals use to collect your information.  Once you fill it out once, all you need to do is to submit the same application to other loan officers or mortgage brokers.