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Shop for a Loan

How to Find a Lender

Today, lenders can be found through a variety of sources. In addition to calling on ads in the newspaper, you can also find and apply to lenders over the internet, and through referrals from your REALTOR. We would be happy to suggest lenders we have used successfully, who have proven themselves competitive and capable even with problem properties or poor credit.

Choosing the Right Lender

Interview several lenders to evaluate the following:

  • Ability to explain things clearly and return your phone calls in a reasonable time period
  • Competitiveness of interest rates, costs & fees.
  • Availability of loan programs that suit your credit profile and desired property
  • Access to local loan approval committee that understands the kind of property you are buying

Choosing the Right Kind of Loan

Today there are so many types of loans on the market that it is beyond the scope of this page to list or explain them all. Your lender is the best person to help you select a loan program to suit your needs. Below is a summary of the three most popular loan types we see in practice; for more detailed information click the link at the end of this page.

  1. Fixed loan: The fixed rate loan assures your monthly payments will stay the same over the life of the loan, which is typically between 15 and 30 years. Fixed rate loans may be best if you intend to hold the property for a long period of time, say over 7 years.
  2. ARMs (adjustable rate mortgages): ARM’s may be suitable if you plan to sell or refinance your home within the next few years. The starting interest rate is typically lower than a fixed rate loan, saving you money initially. However, it is important to understand the index, the readjustment interval, the capitalization rate and downside risks of an ARM before making a final decision to use this type of loan.
  3. Intermediate ARMs: Also called Hybrid Loans, these loans can offer fixed interest rates for the first 3, 5, 7 or 10 years after which the interest rate adjusts with the market every 6 months or year thereafter.
Banner real estate

Hello and Welcome from the partners and agents of Banner Real Estate! Our company has been serving the real estate needs of Shasta County and the surrounding area for over 40 years. We are a locally owned company with 15 partner owners and several sales agents with an average 20+ years of Real Estate experience. Banner Real Estate has a long-held reputation for providing knowledgeable and professional real estate services to its buyers and sellers. For the past several years our Company has had sales totaling over 60 million dollars annually.

Banner Real Estate is the local listing broker for all HUD HOMES for Northern Tehama, all of Shasta, and Trinity Counties. If you are buying or selling real estate in our area, one of our skilled real estate agents and brokers are always available to assist you. At Banner, we believe in "Excellence and Personal Services". So, come to the Castle, where you will be treated Like Royalty!!!

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