Situated on the Pacific Coast, Long Beach is the second-largest city in the metropolitan area of Los Angeles and the seventh most populous with 13.4 million people. The city has one of the busiest ports in the country and one of the world’s largest shipping ports. It is also a center of industry with a robust manufacturing sector, which include companies involved in automotive parts, electronics, and precision metals. Tourism and oil are also an important sector in the city’s local economy.
Long Beach has a medium property value of $617,100, but in reality one may need to spend more if he or she is planning to purchase here. The Long Beach Post recently noted that home-buyers may need to shell out upwards of $1 million for the lower-priced options a good distance away from the coastline. Zillow predicts that this upward trend will continue by 1% within the next year.
As of Friday, May 3, 2019, the mortgage rates in Anaheim are 4.34% for a 30-year fixed mortgage, 3.85% for a 15-year period, and 4.8% for a 5/1 ARM mortgage.
Emac Financial. One of the better direct lenders within the area, Emac Financial has funded $150’s worth of loans to date and promises loan approvals with 10 days. It offers home purchase, home refinance, home equity, and reverse mortgage loans. Its website lacks the flair of its peers, but make up for it for its functionality, with a fast online process system and tools. A high trust rating in Zillow makes this one worth checking out.
Better.com. Better combines an intuitive online processing system with the expertise of live consultants to help customers make the best decision about their loans. According to the company, applications can be processed within three minutes and can offer an underwriter-reviewed preapproval letter in as little as 24 hours. It also doesn’t charge lender fees. Moreover, Better can offer a 10% discount for higher-value homes. Do keep in mind that this lender doesn’t offer VA or USDA loans.
New American. This lender can offer a number of loan options with minimal down payments for qualified customers, and will consider factors other than automated credit. New American also offers a fully digitized mortgage application process, rate quotes, document upload, and loan access ideal for those who prefer not going through a consultant. Lastly, a comprehensive suite of loan products, which include purchase, refinance, jumbo, and interest-only mortgages make this one of the more well-rounded lenders that are worth looking into.