ONLINE TOOLS
Use our online tools to learn more about home loans and find the best loan options to suit your needs and goals.
LOAN CENTER
Learn more about the products and services we can provide.

FAQ

1. How do I know what I can afford? Answer

2. What is the difference between a fixed-rate loan and an adjustable-rate loan? Answer

3. How is an index and margin used in an ARM? Answer

4. How do I know which type of mortgage is best for me? Answer

5. What does my mortgage payment include? Answer

6. How much cash will I need to purchase a home? Answer

 

Q : How do I know what I can afford?

A : Generally speaking, you can purchase a home with a value of two or three times your annual household income.  However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment.  You may also be able to take advantage of special loan programs.

Q : What is the difference between a fixed-rate loan and an adjustable-rate loan?

A : With a fixed-rate mortgage, the interest rate stays the same throughout the life of the loan. With an adjustable-rate mortgage (ARM), the interest rate changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan are likely to change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.

Q : How is an index and margin used in an ARM?

A : An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).

Q : How do I know which type of mortgage is best for me?

A : There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Diamond Residential Mortgage Corporation can help you evaluate your choices and assist you in making the most appropriate decision.

Q : What does my mortgage payment include?

A :For most homeowners, a monthly mortgage payment consists of three  parts:

Principal: Repayment on the amount borrowed

Interest: Payment to the lender for the amount borrowed

Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.

Q : How much cash will I need to purchase a home?

A : The amount of cash that is necessary depends on a number of items. Generally speaking, you will need to supply:

Earnest Money: The deposit that is supplied when you make an offer on the house

Down Payment: A percentage of the cost of the home that is due at settlement

Closing Costs: Costs associated with processing paperwork to purchase or refinance a house

 



michael kors black friday michael kors black friday michael kors black friday michael kors black friday michael kors black friday michael kors black friday hollister black friday lululemon black friday canada goose cyber monday kate spade cyber monday hollister black friday burberry black friday Chanel black friday bose black friday coach black Friday Mulberry black friday Babyliss cyber monday uggs cyber monday coach cyber monday beats by dre cyber Monday louis vuitton cyber monday beats by dre cyber Monday moncler black friday beats by dre cyber Monday michael kors cyber monday coach black Friday north face black friday north face cyber Monday uggs cyber monday beats by dre black friday canada goose black friday michael kors cyber monday uggs black friday true religion black friday michael kors cyber monday moncler cyber monday michael kors cyber Monday north face cyber monday north face cyber monday michael kors black friday michael kors black Friday beats by dre black Friday michael kors black Friday coach cyber monday michael kors black Friday uggs black friday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday uggs black friday uggs black friday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday uggs black friday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday michael kors cyber monday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday michael kors cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday michael kors black friday uggs black friday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors black friday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs black friday uggs black friday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday michael kors cyber monday michael kors cyber monday uggs black friday michael kors cyber monday uggs cyber monday michael kors black friday michael kors black friday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday michael kors black friday uggs cyber monday uggs cyber monday uggs cyber monday uggs cyber monday michael kors black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday uggs black friday uggs black friday uggs black friday uggs black friday uggs black friday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday michael kors cyber monday uggs black friday uggs black friday michael kors cyber monday uggs black friday michael kors cyber monday uggs black friday