El Monte Mortgage Broker
Find a El Monte, California (CA) mortgage broker. We have access to several El Monte mortgage lenders who are competing for your business. Let us do the shopping for you.
El Monte, California is home to 119,918 residents – a 3.4% increase from 2000 to 2002. The city has seen a steady increase in population due to successful housing developments and various housing programs. With the median house value being at $158,100, housing is very affordable in El Monte. El Monte is a short 25 mile drive away from Los Angeles. 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.