MORTGAGE SERVICES

Whether you’re considering a first home purchase, have your eye on a retirement dream home or you’re simply looking for a better deal, we are here to provide expert insight and advice. As a trusted mortgage banker that’s been serving Northern California for over 30 years, we have been helping people just like you find the loan that is right for their unique circumstances.

The Key Components we focus on are:

Refinancing

When interest rates go down, you can “refinance” your home or business loan and receive some potentially exciting and rewarding benefits.

For one, your monthly mortgage payment can be reduced. You can apply the savings to reduce the principal on your loan or you can take cash out to pay for college tuition, buying a car, household improvements, and other expenses.

But there are costs to refinancing, and with these costs come questions: When is the best time to refinance? What fees are involved? What if my income has decreased – can I still qualify to refinance?

Reverse Mortgages

An increasing number of homeowners are choosing to do reverse mortgages – using the equity in their home to supplement their current income.

Reverse mortgages are not for everyone, but they can be very useful for people who may have built up a lot of home equity over the years and could use a little more money to meet their current spending needs.

Reverse mortgages are safe, proven, and successful – and we can show you how you could potentially benefit from one.

Pay Off Your Loan Faster

This new concept in home financing, “Home Ownership Accelerator,” can help you pay off your mortgage much quicker than through conventional loans.

In the process you can save thousands (even tens of thousands!) of dollars while achieving the American dream of home ownership.

The innovative Home Ownership Accelerator program focuses on paying off your mortgage debt. At the same time, through the use of a line of credit with your bank secured by your home, you can spend as you normally do – increasing equity in your house while eliminating that debt.

There are some qualifications and requirements – contact us to find out more.

Fixed Loans

Conventional fixed-rate loans have many advantages. Monthly payments stay the same over the life of the loan, for example, because the interest rate on the loan does not change.

The fact that you can count on how much your mortgage payment is going to be every month can help you feel more secure about your future.

But should you get a 30-year fixed, or 15-year? How big of a mortgage should you take? There are certain things you need to consider with these loans – which is why it’s so important to talk to the professionals at the O’Donnell Financial Group, who can help you make the right choice.

Adjustable Loans

Adjustable loans provide flexibility that a conventional fixed loan may not have. An adjustable loan may allow you to qualify for higher borrowing amounts than a fixed loan. Your initial monthly mortgage payments may be lower, and the payment may even go down if interest rates decline.

Of course, an adjustable rate mortgage can go up if rates increase. But you can set a shorter term for an adjustable – say, a year and a half, or three or five years, or other options – and this can lessen your risk exposure.

What do you do? Well, you do what you’re doing now: getting information and learning. When you’re ready to take the next step, we’re here for you.

Other Loans

With such a smorgasbord of loans to choose from, one solution is to talk to the professionals at the O’Donnell Financial Group.

For new home buyers or current homeowners who are interested in refinancing, there are loans guaranteed by the Federal Housing Administration (FHA). For military veterans, financing and refinancing programs are offered through the Department of Veterans Affairs (VA).

A variety of commercial and small business loans can help businesses and companies. Then there are “private money” loans for buying real estate and other purposes.

Talk to us to make the right choice.