Home Loans in Hesperia
All American Financial Services has been helping our neighbors in the Hesperia community with all their lending needs since 1990. More than three decades ago, Real Estate Broker Slade Lohman established this company in response to a startling realization of our community’s pressing need for reliable and ethical lenders. Motivated by a genuine desire to reshape the industry and assist individuals in making sound financial decisions, he obtained a Real Estate Broker’s License and officially started All American Financial Services.
Our locally-owned, locally-operated business offers licensed lenders who truly want to help you meet your goals, achieve your dreams, and succeed in life. We only hire the most trustworthy, dependable, and helpful people because our customers expect and deserve the very best. Give us a call or come by today and let us show you just what makes us the most trusted financial service in Hesperia!
All About Home Loans
When you decide to take the exciting plunge into homeownership, you probably feel a sense of optimism and hope about the dreams you’ll soon fulfill. In the midst of your excitement, there are some big decisions to be made. Of course it’s important to be selective when you choose the house you’ll call home, but it’s even more crucial to find a trustworthy lender to help you through the process. This choice isn’t just about the financial transaction – it has a lasting effect on the mortgage loan you’ll be repaying for the foreseeable future.
Your reliable and transparent lender at All American Financial Services will be your partner throughout the homebuying process, guiding you through the complexities of mortgage options, finding the best options and best rates, and ensuring your financial well-being. You’ll need to consider all possible mortgage options with your financial goals, creditworthiness, and individual circumstances in mind. From conventional loans to jumbo home loans and beyond, we’re here to help. You’ll likely opt for a purchase money loan of some sort, as the majority of mortgage loans fall under this umbrella. Your Hesperia lenders are committed to helping you succeed, and we can’t wait to play a role in this wonderful chapter of life.
Fixed-Rate Mortgages
A fixed-rate mortgage from All American Financial Services is a great way to plan for your financial future and secure a predictable, consistent monthly home loan payment. You’ll also enjoy a consistent interest rate throughout the duration of the loan. As the market fluctuates, your loan will be unaffected. This financial security makes it easier to own a home because the loan payment terms remain manageable. Our lenders will be happy to discuss how a fixed-rate mortgage can benefit you with peace of mind, stability, consistency, certainty, and long-term risk mitigation.
Adjustable-Rate Mortgages
If you appreciate flexibility, an adjustable-rate mortgage might appeal to you. In the world of home financing, adjustable-rate mortgages (ARMs for short) are known to provide homebuyers with lower initial interest rates, potentially lower overall costs, protective rate caps, a lower interest rate for short-term buyers, and the benefit of easier short-term financial planning. These mortgages are best for those who plan to own their homes for a short period of time or those who are not frightened by the potential for a fluctuating rate.
5/1 Adjustable Rate Mortgage
This type of mortgage offers a fixed rate for the first five years, which allows for predictability and stability. After those five years, annual interest rate changes may occur, depending on current market conditions.
7/1 Adjustable Rate Mortgage
These mortgages offer a fixed-rate period that lasts for the first seven years of homeownership before rate changes are possible.
USDA Loans
If you’re hoping to enjoy the tranquility of rural life, you might want to consider a USDA loan. All American Financial Services offers USDA loans on properties in eligible suburban or rural areas. Featuring low interest rates and, in some cases, the option for no down payment, USDA loans make rural homeownership more accessible. This type of loan usually boasts flexible loan terms, lenient credit and income eligibility, and affordable housing for families who may be otherwise unable to afford a mortgage payment.
USDA Loans
If you’re hoping to enjoy the tranquility of rural life, you might want to consider a USDA loan. All American Financial Services offers USDA loans on properties in eligible suburban or rural areas. Featuring low interest rates and, in some cases, the option for no down payment, USDA loans make rural homeownership more accessible. This type of loan usually boasts flexible loan terms, lenient credit and income eligibility, and affordable housing for families who may be otherwise unable to afford a mortgage payment.
FHA Loans
Known for their impressive accessibility, FHA loans are so-named because they are backed by the Federal Housing Administration. They are a popular choice for first-time home buyer loans, potential homebuyers with limited financial resources, or those with poor credit scores because they feature lower down payments. Your lenders in Hesperia can go into great detail about the many benefits of an FHA loan, but the most notable advantage is their greater ease of qualification. Your down payment may vary based on market conditions and lender requirements, but it could be as low as 3.5% of the purchase price of the home. FHA loans offer competitive interest rates, government backing, and even down payment assistance (if you qualify for such a program).
Private Money Loans
Otherwise known as a “hard money loan,” this type of loan differs from traditional loans because it allows you to borrow money from a non-institutional lender or a private individual. Best suited to individuals pursuing real estate ventures, these loans allow for fast approval – but they often have higher interest rates. If you are having trouble securing a traditional bank loan or you simply want speed and flexibility, ask our experienced mortgage lenders about a private money loan. If you’re a real estate investor who must jump at the chance to secure a time-sensitive property, you might find these loans particularly appealing.
Construction Loans
If you’re hoping to fund the building of a new home from the ground up or complete significant renovations on a property, a construction loan is exactly what you need. These loans are unique because they are disbursed in stages, or “draws,” throughout the construction process. This disbursement process allows the borrower to access funds as the builder needs them, which reduces overall interest payments and guarantees that the money is being used as expected. While your home is being renovated or built, you’ll likely only pay interest. This makes new home construction more accessible because most people have an existing mortgage or rent payment to consider.
Construction loans are tailored to each specific project, so borrowers enjoy the benefit of adapting terms to suit the timeline and scope of the project. When the project is completed, a construction loan can be refinanced or converted to a mortgage. In some cases, your lender will also be able to lock in your interest rate at the start of the project, which protects you against interest rate increases. At All American Financial Services, we will walk you through each step of the construction loan process to help you fully understand the benefits and terms before construction begins.
Get started with a home loan by dropping by or calling All American Financial Solutions today at (661) 949-6681.