Welcome to Diditan Financial, the full-service home loan specialists working with property owners, real estate investors, and homebuyers to solidify the lowest rates and best terms in mortgage loans. We offer home loan solutions to fit every buyer profile. If you have perfect credit and you want to leverage every aspect of your report to get the best deal on home loans, we have a team of custom experts put together to work with buyers just like you. Do you have bad credit and you want to buy a home? You don’t have to settle with poor rates offered by your bank. Diditan delivers low rate home loans for people with bad credit through the expertise of our innovative lenders. Whether you are about to get your next big investment property to secure your family’s financial future, or you are a first time home buyer, we fight to get you the best financing. In fact, we even have realtors all under the same roof to help you find homes for sale in Los Angeles, or anywhere within Los Angeles county. With Diditan Financial, clients enjoy:
- Easy Home Loans – With our lenders and real estate agents working on your mortgage for your new home, getting low rate financing on the home of your dreams has never been easier.
- Lowest Mortgage Rates and Best Terms – We have hand-picked a team of experts who work with specific buyers. This means a true specialist will find the lowest home loan rates that match your unique portfolio, and that big banks won’t offer.
- Best Customer Care in Financing – Do you think an orthopedic surgeon should be able to perform open heart surgery just because he is a surgeon? Our business model pairs buyers with lenders and realtors that match their specific requirements, because our clients deserve TRUE experts tailored to their needs. This means if you are looking at homes for sale in Encino as a first time home buyer, or you are searching homes for sale in Santa Monica while exploring financing options for your next investment property, we give you a well-groomed expert to meet your needs complete with red carpet treatment.
- Full Service Financing for all Home Loans – We offer all types of home loans, and we don’t stop there. Diditan Financial has our own celebrated luxury home builder company capable of building your property complete with land acquisition, in-house construction loans (including hard money loans) and we finance multi-units.
Going through the motions of searching Los Angeles homes for sale, trying to get the best financing, and exploring mortgage rates on property investments can cause lots of stress and take up a great deal of your time that you could otherwise be spending on business, or with your family. Diditan Financial’s team of experts will work around the clock allowing you to invest that time in your business and family while we uncover the best low rate mortgage Los Angeles solutions, or find ideal home loans if you are looking outside of LA. Let Diditan Financial help you solidify your children’s future, and create a better platform for your business prosperity by securing the best home loans that lead to making smart financing decisions.
Why Diditan Financial Home Loans Over Credit Union and Bank Loans?
Diditan Financial offers better home loans than what banks and credit unions are capable of presenting because our business model is completely different, and a rare species in the world of mortgages.
How Banks and Credit Unions Offer Home Loans – Both banks and credit unions work to maintain an industry standard in home loan financing so they can offer competitive rates and make the highest profits possible. This means they give some allowances, but they don’t dig any deeper than what is required. They also make their profit by trying to charge you the maximum rate while still staying relatively with their competition.
Example: Here is one way of looking at how big bank home loans work: Imagine you travel to Fiji to do some scuba diving, and your bag containing your regulator gets lost. You have already invested the time to find your dive destination, airfare, and your hotel and you are committed to dive no matter what. There are only three dive shops on the island that sell scuba regulators. Since these shops know they have this power, they collaborate together to price their products as high as possible, while staying competitive with one another, and by charging just enough that people will still buy as opposed to rent the gear. Big banking home loans and credit unions are no different; they work hard to charge you the most they can.
How Diditan Financial Works – We work diligently to get you the absolute lowest home loan rates, because our profitability depends on it. Our earnings do not revolve around your mortgage rate; we don’t make more money if you pay a higher rate on a home loan. We prosper by the volume of clients we help, and this means we go above and beyond the industry standards to secure the lowest rates on home loans. How do we do this? We use every fine detail of your portfolio to create leverage, and our financing experts research all those little discounts and benefits that are open to multiple buyer types that very few people are even aware exists. If we use the above example of the Fiji scuba shops, Diditan Financial would be the new business on that block to offer mainland price-matching, and we would give additional discounts based on your certification level, or if you are new to diving, because we want your repeat business and referrals so we can grow with you.
Get to Know Diditan Financial and Your Home Loan Options
Diditan is a family-owned team of mortgage lenders and property financing experts who understand the turbulent waters of today’s market. Everyone on the Diditan Financial team remains deeply embedded in our customer-centric culture putting 100 percent focus on you at all times, without compromise. We are the innovative leader in helping smart families and individuals secure a loan outlined by the best terms and conditions that other financial institutions fail to negotiate.
We work diligently to expand your lending options, put loans to bed well ahead of schedule, and orchestrate innovative loan solutions customized to fit a design that caters to each individual’s unique portfolio and needs.
Diditan is in the business of helping people live their dreams as homeowners and property developers. Whether you are looking for a HARP loan, or you need a good rate on a FHA loan, we are here to solidify the best terms to protect your money and your family’s future.
For more than a decade, clients have trusted Diditan Financial to help them secure the best of the best in the following services:
- Home Loans
- Construction Loans
- Hard Money Loans
- HARP / Refinance
- Short Sales
- Reverse Mortgages
You are looking for an affordable option that will stretch your dollar and secure a cost-effective, comfortable living arrangement. Let our highly trained home loan officers help you secure the loan type that is perfect for you, and a mortgage rate that comfortably coincides with your means.
Home Equity Loan
For well over 100 years, buying a home has been the embodiment of “the American dream”, and it still is. As the economy fluctuates, so too do mortgage terms and conditions. One of the most common loan types is the home equity loan in which the borrower uses the equity of his current home as collateral. The property’s value dictates the loan amount and is determined by your lending institution’s appraiser. once the value has been established, your application is processed to finalize the terms of your mortgage–the part of the loan given to homebuyers that qualifies them on a number of factors such as:
- Your Credit Scores
- Debt-to-Income Ratio
- Age of Credit
- Payment History
At Diditan Financial our mortgage company team will work ardently to get you qualified for the best programs. We can ameliorate any existing mortgage rate you may have, and our professional home loan experts fight the most tenacious headwinds cast by our economic climate to get you exclusive, cost-saving mortgage rates that can’t be rivaled.
What are my Financing Options?
First Time Home Buyer
We know that a first time home buyer is someone purchasing a residential dwelling for the first time in their life, but its definition goes deeper than that. The FHA (Federal Housing Administration) defines a “first time home buyer” as an individual who has owned a house for three consecutive years. Displaced homemakers and work-from-home failed start-up owners, single parents who co-owned a home with their partner, and documented legal immigrants are also defined by the FHA as first time home buyers.
Because new home buyers tend to have a limited history in established credit, collateral, and capital there are a number of allowances made and programs designed specifically for first time home buyers. It is in the best interest of banks, and state and Federal governments, to offer opportunities to qualify these cohorts because they ensure the market’s future, and first time home buyers are the future accelerant of the housing market’s growth.
A first time home buyer can qualify for a mortgage loan that offers a low down payment, limited fees, interest rate reductions, and the option to defer payments. First time home buyer loans are offered at the Federal level by the FHA, and by most states through various departments.
If you are seeking a home loan for a new-built house, you will need to get a construction loan and mortgage. First time home buyers generally do not qualify for construction loans because they lack collateral (a fully constructed home in their name). Therefore, if you already own property and have a lengthy, detailed banking history with good credit, you will likely qualify for a construction loan.
Construction loans are almost always exclusively short term with a one-year maximum and come with variable rates that raise and lower with the prime rate. These rates are higher than the permanent mortgage varieties. In order for approval to be issued, the lending institution will need to examine your construction timetable, and a realistic budget backed by detailed plans. When approval is garnered, the borrower is placed on a bank-draft that runs in accordance with the construction’s project stages. As funds are paid to the builder, someone from the lending institution may come to inspect the build to make sure its completion is projected within budget according to the previously submitted plans.
Once the home is completed, the borrower’s liability will typically roll over into the mortgage after he pays the closing costs. Due to the fact the bank has a greater loan-to-value risk with construction loans, construction-to-permanent financing may be stipulated by the lender in which full payment for the contractors and closing costs are combined into a 30-year loan with a single closing.
Make sure your contractor is a seasoned veteran and has a sterling reputation in the industry; if he doesn’t know how to plan around bad weather (which can cause delays) or availability complications with labor or materials, your allowances set aside can be drained very quickly.
How do I Use a Mortgage Calculator?
A mortgage calculator tells you just how much home you can afford, and unless you are Stephen Hawking, you will need a mortgage calculator to figure it all out. In addition, a mortgage calculator lets people shopping for home loans determine various financial ramifications when change occurs in numerous variables of the mortgage’s financial arrangement.
If a homebuyer borrows $650,000 at an eight percent annual interest rate and pays the loan back in 30 years with an annual property tax payment of $4500, an annual property insurance fee of $2200, and annual private mortgage insurance payments of 0.8%, what would the monthly payment be? A mortgage calculator helps buyers solve questions just like this, without them having to struggle with compound interest rate tables and the appropriate level of mathematical knowledge to work them. If your math is good enough that you don’t need a mortgage calculator, you may want to apply for a job at NASA!
Mortgage calculators can also help you understand your monthly payment formula, determine your adjustable interest rates, analyze your mortgage to estimate long-term cost, and decipher a formula that reveals a total interest paid formula. It is a must-have tool for responsible people with home loans on the table.
Hard Money Loans
A hard money loan is a distinct type of home loans that is asset-based in its financing mechanism—the borrower receives funding through the egress of secured real property. Hard money loans are almost always issued by companies or private investors and come with higher interest rates due to the shorter duration of the loan and higher risk.
In order to qualify for a hard money loan your income, credit scores, and any other criteria deemed fit by the lender will be analyzed. In most cases, hard money loans do not exceed 75% of the property’s value.
Hard money loans are collateralized against a property’s quick-sale value used to orchestrate the loan. Lenders tend to fund the first lien position. This means that in the event the borrower defaults on the home loan, the lender is the first creditor to be awarded remuneration. In some cases, a mezzanine loan can be added as a secondary lien in which the lender honors another first lien position loan.
HARP loans offer hope to homeowners who have little equity or are upside down on their mortgage–a term meaning they owe more on their home loan than what the home is worth. People in this predicament experience major difficulty in trying to find a lender who will refinance home loans like this. Diditan Financial helps potential buyers qualify for and secure HAPR home loans outlined with potential solutions, so long as the homeowner has never been late on making a mortgage payment. In order for the borrower to qualify, the home loan must be from Fannie Mae or Freddie Mac. If your low-to-value ratio is equal to or greater than 80 percent, and you have hardly any delinquencies over the last year, you might qualify for a refinancing option that will pair you with an affordable mortgage payment. If you want to try to qualify for HARP, call our Diditan Financial experts and let us explore all your options.
A short sale is a way in which real estate is sold when net proceeds from the sale of the home fall short of the debt sum secured by the existing liens placed against it. When the lien holders mutually agree to pocket less than the debt’s owed amount, the property will go into a short sale. In many cases the creditors that own the liens can include stipulations and obstacles to qualify the buyers and approve the short sale, considering they are getting paid less than what the home is worth. Some of these include:
- Second mortgages
- Homeowner association liens
- Home equity lines of credit (HELOC)
- IRS and State Tax liens
- Homeowner’s Association liens
Lien holders are eager to sell in order to avoid the property going into foreclosure, yet they want to try to claim as much funding as possible. Short Sales can draw large buyer crowds and in some cases they will drive up the sale price of the home through silent bidding. If you plan to go after a short sale home, you had better have a skilled realtor and be battle-ready!
If you are aged 62 or older, you can appeal to a reverse mortgage that allows you to take part of your home’s equity and convert it into cash without having to sell or vacate your home. People will get reverse mortgages if they want to supplement their income, or if they have a financial emergency such as unpaid medical bills. Some people will even get a reverse mortgage so they can travel, or pay for their grandkids to go to college.
What are the Types of Reverse Mortgages?
There are several types of reverse mortgages, and these require you to do your due diligence when shopping around. The U.S. Department of Housing and Urban Development created a Home Equity Conversion Mortgage (HECM) as part of HUD; it requires the borrower to receive counseling from a third party. For these types of home loans the borrower is charged a yearly insurance fee of 1.25 percent of the loan’s balance, allowing the sum to increase by the fee amount. The borrower is protected by the insurance only if (A) the home’s value is not enough to take care of the balance, and (B) if the lender is unable to make a payment. In the event the home’s value is too weak, the remaining balance is paid through the government insurance fund. As of now, HECMs compose the majority of reverse mortgages in the United States.
Another type of a reverse mortgage is the proprietary variety. These are a rare breed and rarely seen in today’s home loans. However, educating people on them is important because conditions change all the time in the predictable future as property values become stabilized. A propriety reverse mortgage is insured by a mortgage company through private parties. Some borrowers like them because they are not subject to many of the regulations that stick to HECMs. However, most companies ensure the same consumer protections offered in HECM programs with an emphasis on counseling. Propriety reverse mortgages are initiated on homes with higher values that typically have a minimum value of $750,000, and are therefore also known as “jumbo” reverse mortgages.
What are the Best Home Loans?
The best home loans hinge on your profile as a buyer. The right home loan for the Jones family down the street may be completely different than the home loan to best fit your portfolio needs.
A better question to ask is “what finance company can get me the best home loan”? Diditan Financial has been successfully securing the best rates and terms for buyers of all types, because our clients aren’t “faceless files” that blend in with all the other borrowers like the way people are treated by most big banks. We are family owned, and we invest in families just like yours. Our financial team, realtors, contractors, and legal advisors work together examining every corner of your personal account to garner the best home loans and mortgage rates that other institutions are unwilling or unable to secure. When you work with Diditan Financial we treat you like honorary guests in our home while we work with utmost dedication and pride to seamlessly transition you into a house of your own that is affordable, and easy to manage.