Welcome to Estate Funding

On this resources page you will find the tools that will help you on your way to a smooth and stress free transaction.

Applying for a home loan with Estate Funding, Inc has never been easier. We have two secure online applications from which to choose.

EZ Application
Our one page pre-qualification summary should not take more than ten minutes to complete and will allow us to serve you most efficiently. This information will allow us to intelligently discuss financing options and streamline the loan approval process. Once completed, click "submit" and the secure form will be emailed to us.

     Apply for a Loan with our EZ Application

Secure 1003 Application
Our online application is for clients that are ready to start processing a loan application. Please note that you do not need to complete sections titled Loan Information or Liabilities. We will fill in that information for you. The completed application will be encrypted and sent to our secure server.

     Apply for a Loan with our Secure 1003 Application

Credit Report Authorization and Release
In order for us to run your credit report, we have included a downloadable form. This form can be faxed to us at (818) 883-1031 (Attn: pre qual).

     Download a Credit Report Authorization and Release Form
     Adobe Acrobat Reader required. Click here for free download.

Mortgage Calculators
For your convenience, we have included mortgage calculators.

     Access our Mortgage Calculators

Daily Market Snapshot and Commentary
View to see where the current market is. We rely on this and other resources to help you determine the very best time to lock in your rate.

     View our Daily Market Snapshot and Commentary

Click Here for a Glossary of Mortgage Terms

Frequently Asked Questions
	1.	What is the process for obtaining a Loan? Estate Funding, Inc makes the process simple and stress free. Its as easy as 1, 2, 3: 1. On the resources page of this website, click on Apply Online with our EZ Application, which will take you to our secure online application. 2. Fill out the EZ Application and once you click submit, the secure application will be sent to us via email. 3. Once we have your Secure 1003 or EZ Application, we will merge the information provided with your current liabilities, as shown on your credit report, and complete, on your behalf, all the necessary applications and forms. At that time we will schedule a time for you to meet with us so we can review your transaction or we can send a loan package overnight to you for signatures, as well as income and asset support documentation. An overnight envelope will be provided so you can return the items. That's it. The professionals at Estate Funding, Inc. will take it from there
	2.	What are the required documents for loan approval? The items need to process and approve a mortgage loan can vary from lender to lender. Here are the minimum items needed to obtain a credit approval. Additional documentation may be requested upon a review of these items: 1. Last Paycheck Stub 2. Last Bank Statement 3. If Self-employed, Last Two Years Tax Returns 4. Documentation of Down Payment
	3.	What is "prepaid " or "interim" interest? Prepaid interest is pro rated from the close of your transaction through the end of the month in which you close. A mortgage is different than paying rent. With rent, you pay in advance for the month that you are going to live in the house. With a mortgage, you pay at the end of the month you lived in the home. In order to correctly schedule your mortgage payment due on the first of the month, we must first calculate the prorated amount of interim or prepaid interest charged from the close of escrow to the end of the month. For example, if your loan closes on the 20th of January, you will be charged 11 days of interest until the end of the month. Then your first mortgage payment would be due on the first of March.
	4.	Am I required to pay my taxes and insurance along with my monthly payment? Only if the loan to value of the home is 90% or greater. The "impounding" of taxes and insurance is otherwise optional. If you are putting down less than 10%, but obtaining two loans, a first for 80% of the value of the home and a second for the remainder of what you need to finance, impounds are not required. If you finance 89.9% of the value of the home, impounds are not required in the State of California.
	5.	How Can I avoid paying Private Mortgage Insurance and still put down less than 20%. Private Mortgage Insurance can be avoided by obtaining two mortgages. The first mortgage is for 80% or less of the value of the home, and the second would be for the remainder of what you plan to finance. In this way PMI is not required because the loan to value on the first loan is 80% or less. The savings is usually at least ½% or more depending upon how much you actually put down on the home
	6.	What is a Good Faith Estimate of Settlement Costs? As a lender, we are required by law to estimate no only our own charges, but third party fees such as escrow, title, credit and appraisal company's charges. Many figures shown on this estimate are calculated by industry standard formulas. All estimates are approximations and can vary, but we attempt to be as accurate as possible.
	7.	On a Refinance, why do I have to pay Title Insurance again? When purchasing a home the title insurance protects you and the lender against any unforeseen loans, mechanics liens or claims against the title. This could severely impact the equity or ownership to the property. When a loan is paid off, the insurance is no longer in force. When a policy has been placed on a home within the past 5 years, the title company will issue what is called short-term refinance rates. This will save you about 30% off of the standard rates.
	8.	Should I continue to make my mortgage payments while I am refinancing? Yes, one of the escrow's jobs is to do the necessary crediting of payments at the close of escrow. Holding off on your mortgage payment can result in a late payment. Discuss any questions you have in this regard with your mortgage broker.
	9.	Will my property taxes be reassessed when I refinance? No, the escrow company routinely completes a form that tells the county recorders office this refinance is not a transfer of ownership.
	10.	How do you as a mortgage broker, get paid? Do I pay more for your services than going to a direct lender? No, you do not pay more for using the services of a mortgage broker, and often times you save money. Mortgage brokers receive a "discount" from the direct lender on what they would charge for their loans. The mortgage broker adds the charge for its service to the "discounted" rate received from the direct lender and you will ordinarily either pay the same or less than what you would be charged by not using a broker at all. The lender is able to provide the loan to the broker at a discount because the mortgage broker is doing so much of the work ordinarily done by the direct lender. Your mortgage broker meets with you, helps you select the right program to meet your needs, confirms that you qualify for the loan, structures the transaction to assure approval and packages the loan as well as locks it in at the correct time and obtains the loan approval from the lender. Your mortgage broker also coordinates the on time closing of your loan transaction and makes sure the loan closes with the terms you expect. As a result, you receive far more loan options to review, more personalized service and often times better pricing and guidance by allowing the mortgage broker to shop from a large variety of lenders for the best programs and rates that fit your needs. More than 70% of all loans in the United States go through mortgage brokers because people want the increased options, the high level of service and expertise offered by experienced and ethical mortgage brokers.
	11.	How are Rates Determined? Rates are determined by a many different economic and geopolitical factors in the market place and rates can change daily or even more than once a day. With the help of several subscription services, Estate Funding, Inc. is able to help you lock at the most advantageous time to take advantage of improvements in the interest rate market. We advise you as to the best time to lock in or guarantee your rate to maximize your long term savings.
	12.	How Can I compare rates and fees when shopping for a mortgage? When comparison-shopping look at the points, fees and the interest rate. Looking at just the rate and points is often misleading without also seeing the total fees being charged. Our commitment to you is that we will look at any other lender's Good Faith Estimate of Settlement Costs and help you compare them to what we are offering you.
	13.	What is the difference between "locking in" an interest rate and "floating"? We advise you as to the best time to guarantee or lock in your interest rate to take advantage of drops in the interest rate market. When you lock in your rate it is guaranteed through the close of your transaction. You can lock in your rate for 15, 30, 45 or even 60 days. The longer the lock in period, the higher the price of the loan. The benefit to locking is the security of knowing your interest rate is guaranteed if rates should increase during the period of your lock. If you are locked and rates should decrease, you will not usually get the benefit of the decrease. If you choose to "float", your rate will fluctuate with the market and will be subject to both upward and downward trends in the market. Estate Funding, Inc. does track trends in the interest rate market and will offer you guidance to the best of our ability as to the best time to lock to maximize your long term savings.
	14.	When can I lock in my interest rate and how much does it cost? Here at Estate Funding, Inc. we advise you as to the right time to "lock in" your rate. Most lenders will allow you to lock in once you have found a property and as late as 12 to 15 days before you close your transaction. Generally, the longer the lock, the higher the cost. For instance, if you were to float until just before you close (say 15 days), the rate and fees would be better than if you were to lock in for 60 days - figure you would pay an additional 1/8 in interest for the longer lock. As your Lender for Life, we will advise you when and for how long you should lock depending upon what the financial indicators and the financial markets are doing at that time.
	15.	What is a "Pre-Approval" and why is it important? Pre-Approval allows Estate Funding, Inc. to process your loan application before you shop for a home. By obtaining a mortgage commitment in advance, you'll be able to look at homes that are within your budget. And, you'll have the confidence and peace of mind knowing that your mortgage funds will be available when you find the right home. Your Pre-Approved mortgage will also put you in a much stronger negotiating position with the seller.
	16.	What if I have less than Perfect Credit? If you have less-than-perfect credit or no credit, Estate Funding, Inc. can help. Estate Funding, Inc. offers a variety of mortgage programs that are perfect for you regardless of your current financial situation. We can even obtain Pre-Approval for you before you begin your home search thereby eliminating any uncertainties or concerns about your ability to own or refinance your home.
	17.	What is the APR that appears in my Good Faith Estimate and why is it higher than the interest rate you quoted me? The APR is the abbreviation of the Annual Percentage Rate. Disclosing the APR became law with the Truth In Lending Act of 1969. It requires that companies like Estate Funding, Inc and all other lenders to reveal the true interest rate with charges added back in. Charges such as, points, lender fees, processing, mortgage insurance, as well as other miscellaneous fees. For example, you may be looking at an 8% mortgage rate from one mortgage company but after all the fees are added back in, it could be a higher APR than an 8 1/8% rate from another lender who charges lower fees. This is the part of the law that requires that the borrower be made aware of the True interest rate. Originally, all charges, whether paid by the borrower or the by the seller were included. Now only those additional charges, paid by the borrower are added in to figure the APR. While the APR has some merit, when comparing fixed rate mortgages, it confuses even the experts when attempting to evaluate different ARM loans. Remember, it's the note rate not the APR that is used to determine you payment.