We offer purchase and refinance mortgage services out of our two Southern California locations. Rich Sladick, Cabrey Lane’s Founder, has over 12 years of mortgage lending experience. Rich has closed hundreds of loan transactions and is knowledgeable in all areas of residential finance. He has worked for large banks, mortgage companies, direct lenders, and now for his own company, Cabrey Lane Financial.

Brokers are unique in that we can shop multiple lenders to get you the best rate available for your situation. Direct lenders including large retail banks and credit unions are at a disadvantage to mortgage brokers because they are typically required to only quote their own “in house” rates. As your mortgage broker, we have the ability to fund your loan with whichever bank offers you the best rate and terms.

At Cabrey Lane Financial, we care most about building relationships and earning a client for life. We pride ourselves in transparency throughout the loan process and go out of our way to inform you of everything you need to know about your new loan. Our clients appreciate our honesty and rely on us for our sound financial advice.

Request information or a free pre qualification here.

Cabrey Lane Financial is a fully licensed Mortgage Broker, DRE # 01343428, NMLS #339847.

At Cabrey Lane Financial, we don’t believe in secrets or hidden fees when it comes to your money. We have never and will never earn any hidden fees for the rate we get our clients. You will see throughout the process exactly what fees are involved and you’ll receive a guarantee in writing that any credit given for the interest rate chosen will go to you at closing.

Federal and State laws have changed greatly in the past months and years. These laws are meant to protect you, the consumer, from unethical lending practices and price gouging. Because of the “secret” money often hidden in loan transactions, many borrowers were never aware that they weren’t getting the great deal they were promised by their loan provider. The legislations aims to regulate these practices that caused much harm to borrowers across the country.

Many of these unethical lenders and brokers are currently scrambling to figure out new ways to make the same amount of money they’re accustomed to on a given loan transaction. These lenders and brokers have made millions in secret fees and price gouging.

This is not the case at Cabrey Lane Financial. We welcome any new law that protects consumers from unethical lending practices and price gouging. Our business model has not changed one bit since the new laws have taken effect, because we already followed the highly ethical protocol outline in the new legislation. We treat our clients right, never over charge, and always exhibit transparency throughout the entire loan process.

You can rest assured that at Cabrey Lane Financial, your best interests are met with integrity and expertise. We will only close a loan that we believe makes sense for the borrower and will provide our services at our always competitive pricing and fees. We encourage all our clients to shop around for home loans as much as they’d like because we’re confident they will come back to Cabrey Lane Financial for all their financing needs.

Request information or a free pre qualification here.

Fixed Rate Mortgage: 

Usually the best mortgage option is a fixed rate mortgage. This option locks in a set interest rate, which means your rate cannot go up. You can always refinance if the interest rates drop, but you will not have to worry about your payment going up. You are protecting yourself from your payment rising when you choose a fixed rate mortgage.

Adjustable Rate Mortgage 

Anothermortgageoption is an adjustable rate mortgage (ARM). This mortgage offers a lower initial interest rate, which means lower initial payments. However the ARM will adjust after the initial payment option is over.  Therefore, this option is usually best for short term financing. ARMs are tied to various financial indexes and can fluctuate very rapidly at times. If the correlating index goes up, so does your payment. If the index comes down, your payment follows. Almost all commercial property is financed with ARMs. With current fixed rates being so low, most residential real estate borrowers avoid this type of financing today.  However, as rates rise, ARMs will once again gain popularity in the residential lending market.

FHA Loans

• •Typically a 3.5% down payment, but as low as ZERO in come cases.
• •Monthly mortgage insurance no matter how much down payment
• •Low closing costs, which are regulated by HUD
• •No strict credit score requirements
• •Qualify for a loan two years after a bankruptcy
• •Qualify for a loan three years after a foreclosure or short sale.

The FHA loan guidelines are more relaxed than conventional loan guidelines; this includes less strict regulations about past bankruptcies, foreclosures, short sales, job requirements, use of alternative credit, and debt-to-income ratios. The FHA ensures that their interest rates remain competitive with the interest rates of conventional loans.
FHA loans were originally created to help first-time buyers; people who are not first-time buyers may qualify, however, the FHA does not allow anyone to have more than one FHA-insured loan at a time.

The borrower is required to pay an insurance premium upfront, but this premium can be financed into the loan amount directly. The borrower must also pay a monthly premium as well divided equally over 12 months. Unlike a conventional loan, the FHA requires a termite report and clearance, as well as a few other property condition standards, to qualify for a loan.

If you would like more information about the benefits of a FHA loan, please contact us today!

FHA Refinancing

You may refinance a conventional loan to a FHA loan. Options include: Cash-out Refinancing, Rate Refinancing or Term Refinancing. The FHA offers borrowers debt-consolidation programs, and the option to consolidate two mortgages into one FHA mortgage. The benefits of FHA loans, such as low closing costs and more relaxed credit and income qualifications, also apply to FHA refinances. Another option is an FHA Streamline refinance. This option allows you to refinance your existing FHA loan with fewer costs, no appraisal, and little to no income documentation. Streamline refinancing is the only type of FHA refinance that requires the original loan to be FHA-insured.

Conventional Loans

• •Typically a 5-20% minimum down payment.
• •No monthly mortgage insurance if more than 20% equity.
• •More strict credit score requirements
• •Qualify for a loan four years after a bankruptcy
• •Qualify for a loan five years after a foreclosure
• •Qualify for a loan two years after a short sale.

The biggest difference in a Conventional loan is that it is not insured by the Federal Government. Because of this, lending institutions feel slightly less protected and make their lending requirements stricter for these loans. Typically income, asset, and credit history are more of a factor with a conventional loan.

In a normal economy, you can obtain conventional loans up to 95%. Although whenever you put less than 20% down on a purchase or have less than 20% equity on a refinance, the lender will require mortgage insurance to reduce their risk of losses. At the present time, mortgage insurance is difficult to obtain and most borrowers elect FHA financing if their down payment is less than 20%.