Mike Lynch
- Originating Branch Manager
- Redding, CA Mortgage Loan Officer
- NMLS #230189
Hi, I’m Mike, a homebuying coach and Certified Mortgage Advisor with 23 years of experience. My team and I view mortgages as important financial decisions that impact your future wealth, not just another loan. We believe that nothing is more important than finding the right mortgage to fit your financial goals. We’ve had the privilege of helping thousands of families finance their dreams of homeownership by taking the time to listen and advise on the best options.
Our responsibility is to educate and consult on the best ways to own a home and increase your wealth. With our extensive knowledge and wide range of mortgage options, we help you make the right home financing decisions. Whether you’re a first-time homebuyer, a homeowner on the move, or a long-time real estate investor, we’re honored to be part of your team. I look forward to starting your journey home with America’s #1 Retail Mortgage Lender in Redding, CA!
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Frequently asked questions
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Refinancing costs typically range from 2% to 6% of the loan amount and include fees such as appraisal, title insurance, and closing costs. Factors like your loan type, location, and credit score can significantly impact these expenses. Our team can help to provide strategies that can help minimize costs.
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To determine how much home you can afford, you’ll want to assess your financial situation. This includes your income, expenses, and debt-to-income ratio, to ensure your mortgage fits comfortably within your budget. A general guideline is to spend no more than 28% of your gross monthly income on housing costs and 36% on total debt.
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A good credit score typically starts at 620 for conventional loans, while FHA and VA loans may accept scores as low as 500, though higher scores offer better terms. A strong credit score can help you secure lower interest rates, saving you significant money over the life of a home loan.
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A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows homeowners to borrow against the equity in their home. HELOCs function like a credit card, giving access to funds up to a set limit, which can be used for expenses like renovations or debt consolidation. You only pay interest on the amount you borrow, and the repayment terms typically include a draw period followed by a repayment period.
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To calculate your mortgage payments, start with your loan amount, interest rate, and loan term. Your payment will depend on the interest charged over time and the repayment schedule. You can use a monthly mortgage payment calculator or connect with us to learn more.