All California Mortgage

QUALITY PEOPLE ~ QUALITY SERVICE

Since 1992, All California Mortgage has provided quality service in every area of mortgage lending. From purchase to refinance to construction and commercial lending, we have access to a full range of mortgage sources. Our lending specialists are dedicated to finding you the right loan-with great rates, terms and costs to meet your unique needs. 

COME HOME WITH THE HELP OF ALL CALIFORNIA MORTGAGE.  

 

© 2017 All California Mortgage, a division of American Pacific Mortgage Corporation  NMLS #1850 / BRE #01215943
17 E. Sir Francis Drake Blvd., Suite 200, Larkspur, CA 94939     (800) 371-4545   inquire@allcalifornia.com 
Licensed by the Department of Business Oversight under the CRMA     Disclaimer  |  Privacy Policy 

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Fixed Rate Mortgage

Fixed rate mortgages are available for 10, 15, 20, and 30 year terms. Fixed rate fully amortizing loans have two distinct features. First, the interest rate remains fixed for the life of the loan. Secondly, the payments remain level and are structured to fully repay the loan at the end of the term. The most common fixed rate loans are for 15 and 30 year terms.

As with most mortgages, during the early amortization period,  a large percentage of the monthly payment is applied to paying the interest due. As the loan is paid down, more of the monthly payment is applied to principal. A typical 30 year fixed rate mortgage takes 22.5 years of level payments to pay half of the original loan amount.

However, fixed loans generally do not impose any penalties for accelerating your pay off should you prefer to do so. This will result in saving on your overall interest paid. Some banks offer the option to make "bi-weekly” payments (though you can accomplish this without the assistance of your lender). Bi-weekly payments can shorten the term of the loan by calling for half the monthly payment every two weeks. Since there are 52 weeks in a year, you make 26 payments, or essentially 13 months’ worth of payments. This can significantly reduce your total interest paid and the term of your loan. For e.g. a 30 year term would be reduced to approximately 22 years if you consistently made bi-weekly payments.

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© 2015 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply.

  ©  2017  All California Mortgage
a division of American Pacific Mortgage Corporation - NMLS #1850 / BRE #01215943
17
E. Sir Francis Drake Blvd., Suite 200, Larkspur, CA 94939     (800) 371-4545      inquire@allcalifornia.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Act     Disclaimer  |  Privacy Policy