Downey Mortgage Broker
Find a Downey, California (CA) mortgage broker. We have access to several Downey mortgage lenders who are competing for your business. Let us do the shopping for you.
Downey, California is just outside of Los Angeles and is home to 109,840 residents. The city is known for its business and strong economy. Currently, the housing market is very strong for sellers. With the median house value being at $209,700, houses are relatively affordable in Downey.
California Loan Facts
- Community Property State - Since California is a community property state, you must include the liabilities of both the husband and the wife when calculating debt-to-income ratios for a California mortgage. You can still do a loan in one name, however, you must include the liabilities of both the husband and the wife.
- Low Closing Cost State - HUD has determined certain states to be high closing cost states and others to be low closing cost states. California is classified as a low closing cost state due to lower than normal title fees and other closing fees.