I would love to have you as my clients and help you with all of your mortgage needs. I know that understanding and fulfilling your needs is what makes the mortgage process successful.

During your personal loan consultation I will present you loan options and help guide you through the many aspect of each loan program. This will give you the knowledge and understanding to make a real good informed decision.

With outstanding customer service and extensive knowledge of the mortgage industry, I will ensure that you will have a successful and pleasant mortgage experience.

                                                 www.hemetmortgage.com

Our business ties us strongly to my valued clients and our goal is to continue to extend you a level of service and attention that is not dependant on whether you are prepared to do a transaction. We appreciate the opportunity to serve you and have designed our site to provide you, as a homeowner, valuable resources that can assist you in your goals, hobbies, and living.

Please feel free to bookmark our site to take advantage of the latest market news, community information, school profiles and more. Feel free to contact us with any questions you may have about real estate or the community. And if you know of someone that may be interested in making the exciting decision to buy or sell a home, we would be honored to provide the same level of superior service. We greatly appreciate your support!

Thank you for vieing our ActiveRain.com profile. Feel free to contact me any time. I would be happy to discuss your situation and provide the information you need to make the right decision.

Larry Iest

(951) 929-6405

I specialize in all aspects of residential mortgage lending. From First time buyers to the high end move up buyer, I have loan programs for you. I also have many programs to help clients that have credit challenges, Conventional and Govt. Mortgage products and reverse mortgages.

Adjustable Rate Mortgages: How Do They Really Work?

An adjustable rate mortgage (ARM) is one that provides for the interest rate to change (adjust) at fixed intervals throughout the term of the loan. How often the interest rate can change is determined in advance, and is spelled out in the loan agreement (note). The three most typical ARM loans adjust monthly, every six months, or annually.

The Basic Features of an ARM Loan

Index: The index is the cost of the money to the lender and is what the interest rate of an ARM is based upon. There are several indices in use today: the 1-Year Treasury Bond index (which is the one most commonly used), the Six-Month Treasury Bill index, the 11th District Cost of Funds index, and the LIBOR index, among a few others. The value of the index changes at regular intervals.

Margin: This is the spread between the value of the index and the interest rate actually charged to the borrower. Essentially, it is the lender's profit margin. The margin is set at the beginning of the loan and does not change for the life of the loan.

Initial interest rate: This is the interest rate that you pay until the first adjustment. Often the initial interest rate is lower than the sum of the current index value and the margin. When this happens, it is called a "teaser rate." If the ARM loan has a teaser rate, the interest rate will almost certainly increase at the first adjustment or two.

Adjusted rate: This is the new interest rate that the borrower pays for the next adjustment period. It is calculated according to a formula that involves the index value, the margin and the adjustment cap, the terms of which are set forth at the beginning of the loan in the mortgage note. (see How the Interest Rate is Calculated at Each Adjustment Period)

Adjustment cap: The adjustment cap limits the amount the interest rate can change from one adjustment period to the next. It is set at the beginning of the loan and does not change for the life of the loan.

Adjustment period: This is the fixed interval period at which the interest rate will adjust. The payment will then change based, in part, upon the new interest rate.

Life cap: The life cap of the loan is the maximum interest rate that can ever be charged on the loan, regardless of how high the value of the index rises. The life cap is typically quoted as an interest rate; i.e. a "five percent life cap" which means the life cap is five percent over the initial interest rate.

"I would love to have you as our clients and help you with all of your mortgage needs. With each client, our goal is not only to successfully complete your transaction, but also to gain a client for life. We know that understanding and fulfilling your needs is what makes the mortgage process successful. With outstanding customer service and extensive knowledge of the mortgage industry, we will ensure that you will have a successful and pleasant mortgage experience".

Our Mission

We dedicate 100% of my energy towards delivering world-class service to our clients.  What sets me above the rest is that we are committed to the principles of continuous improvements and ever increasing efficiencies. We create an environment where the relationships count more than the transactions. As a result, our valued customers, suppliers and friends refer their family members, co-workers, and neighbors to us for advice on all aspects of real estate finance. We are committed to excellence.

Results

The financing of a home is the largest financial decision most people will ever make. You deserve a mortgage company who you can count on and who will produce the results you need. Through each step of the mortgage process, we never lose sight that mortgage lending is not about dealing with property, but about helping people.  We take great pride in my ability to back up my promises with results.

Service

When we discuss your transaction you will quickly realize that we are mortgage professionals who have a passion for helping people. The amount of energy we put into our work, and our exceptional level of customer service, quickly let you know you are dealing with mortgage consultants who puts your needs first. We not only strive to do the best for my clients, but  we also go the extra mile to make sure they are fully satisfied.

Knowledge

We are constantly fine-tuning our mortgage skills by completing courses in critical subjects and keeping up with the financial markets on a daily basis. With access to multiple investors and lenders, we can put together almost any deal.  We will answer your difficult questions and guide you through the mortgage process efficiently and professionally.

Integrity

We believe that high-pressure sales tactics are not just unpleasant and unfriendly; they are unnecessary. Our clients continue to do business with us because we are upfront and honest with them. We do what is best for our clients even if it means not doing a loan. Our honesty, knowledge, experience and fun loving attitude will make your home lending experience enjoyable.

Larry Iest

(951) 929-6405