Home loans in Downey and Southeast LA, explained in plain language

Local, bilingual and straightforward

You work with me from your first question to closing, not with a call center. I explain each step in English or Spanish, keep you and your agent updated, and tell you plainly if a different loan or a little more time would serve you better. As a broker, I can compare programs from many wholesale lenders for your situation.

Most of the families I work with are buying their first home in Downey, Compton, Norwalk, South LA, Long Beach, South Gate, Bell Gardens, Whittier and Huntington Park. Many prefer to go through the process in Spanish, and we can do everything that way if you like.

Loan options I can explain

• FHA loans: insured by the Federal Housing Administration, with more flexible credit guidelines and a smaller down payment than many conventional loans. The home must be your primary residence, and FHA loans include mortgage insurance.
• Conventional loans: not government-insured. They often fit buyers with steady income and stronger credit, and mortgage insurance can usually be removed once you build enough equity.
• VA loans: for eligible veterans, service members and some surviving spouses.
• ITIN loans: for buyers who file taxes with an Individual Taxpayer Identification Number. They usually need a larger down payment and cost more than FHA or conventional loans. I go over that with you up front.
• Down payment assistance, including CalHFA programs: help with the down payment or closing costs for buyers who meet income, price and homebuyer education requirements. Programs open and close, so we check what is available when you are ready.
• Rate buydowns: a way to use seller credits or your own funds to reduce the interest rate, either for the first years of the loan or for the full term.
• Refinance, HELOC and home equity loans: for homeowners who want to change their current loan or use their equity.

How it works

1. Ask a question, or start the secure online application.
2. We review your income, credit, savings and documents together.
3. I compare options from several lenders and explain the differences.
4. If you qualify, you receive a pre-approval letter to shop with.
5. I keep you and your agent updated until closing.

Questions are welcome. See if you qualify online, or call (562) 524-5888 to talk with Charlie.

Charlie Lara, NMLS 2251128. Elevate Mortgage, NMLS 2387326. This is not a commitment to lend. Equal Housing Opportunity.