Modesto Mortgage Broker
Find a Modesto, California (CA) mortgage broker. We have access to several Modesto mortgage lenders who are competing for your business. Let us do the shopping for you.
Modesto, California has a population of 203,555 – a 7.8% increase from 2000 to 2002. Reports are stating the sharp increase in population is due to the affordable housing that is available in the city. The median house value in Modesto is just $126,000. Modesto is within reasonable driving distance of San Francisco, San Jose, and Sacramento.
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.