Hawthorne, California is the birthplace of the Beach Boys. Who wouldn’t want to live in a city so rich with rock and roll history? And although the boyhood home of Brian, Carl and Dennis Wilson was cleared away in the 1980s to make room for the Century Freeway, fans can still pay their respects at the Beach Boys Historic Landmark (California Landmark 1041), erected in May 2005. But the Beach Boys aren’t the only thing to admire in Hawthorne. The city also has a rich history in pop culture:
And living this close to L.A. ( Hawthorne is part of the huge land mass that makes up the greater Los Angeles area), without actually living in L.A. is very convenient. But now you need a place to live. Or maybe you already live in Hawthorne and just need some extra cash. You have options.
The Initial Mortgage
So, you’ve decide to buy a house in Hawthorne. It’s time for everyone’s most exciting life purchase – a new house. If you go house-hunting with no money, it’s harder to get meetings with real estate agencies. But if you walk in with money in hand, doors begin flying open. Pre-approval allows you this freedom. Knowing how much money you have available allows you the flexibility to look at the homes you can afford while saving time by not looking at homes that are out of your price range. Pre-approval also allows the seller the piece of mind of knowing he’s talking to someone who is a serious buyer. After all, the buyer has already taken the time to get financing in hand.
Now that you’ve decided to get pre-approved, it’s time to decide what kinds of mortgages are available to you. There are actually several types of mortgages (balloon loans, VA loans, HUD loans, etc…). For the purpose of getting a basic understanding of mortgages and how they work, you really only need to be familiar with two types:
The Mortgage Refinance
Maybe you already live in Hawthorne and simply want to lower your monthly payment. Or maybe you need some extra cash. There are options available for you as well.
A mortgage refinance loan is simply a second loan designed to pay off your existing mortgage. This type of loan allows you to get out from under your high mortgage payment by refinancing what’s left of your original mortgage. If you’ve been paying for 10 years on your original 30-year note, you can refinance what’s left on another 30-year note and lower your monthly house payment. You may even get some cash back at closing.
Another option if you already have an existing mortgage in Hawthorne, is a home equity loan. What if you suddenly face an unexpected major expense, like a long-term hospital bill? A home equity loan allows you the option of borrowing money against the existing equity in your house.
Whether you’re looking for a Hawthorne mortgage, refinance, or home equity loan, we can help. Take a moment to fill out the form below, and a qualified lender will contact you right away.
