King Carl Mortgage Broker

Information may not be reliable

Consumers face two primary challenges in obtaining residential financing.
First, the loan process and loan products are often confusing for consumers. In light of the recent proliferation of loan products (e.g. interest-only, hybrid adjustable rate loans, option-payment adjustable loans, 40-year terms) and underwriting methods available (many forms of reduced documentation and automated underwriting), combined with the usual required analysis of the benefit of paying more points and fees for a lower rate, most consumers benefit from the services of an unbiased professional. We always provide all needed analysis, without fees, prior to any formal commitment on the part of our clients.
Second, as a result of the confusing nature of the market, constantly changing interest rates, and the commission-based compensation structure for originators, some banks and brokers use the complexities of the market to take advantage of unsuspecting borrowers. If a new loan makes sense for you, we will provide you with a guaranteed rate lock of a specific loan program, and all related fees, prior to your commitment to proceed with a purchase or refinance.
References and Referrals:

About Mortgage Brokers:
We are sometimes asked Why shouldnt I just go to a bank and eliminate the middleman for our financing needs? Approximately 60% of all loans funded in the last ten years in California have been originated through brokers, in spite of that misconception. Many major consumer banks and all mortgage bankers fund loans through brokers via separate wholesale divisions, with wholesale pricing which allows us to deliver loans to consumers that are competitive with the banks' own retail branches or online processing centers. Our rates are sometimes lower than retail, but are generally about the same as that of any given retail bank or credit union (for example, a "zero-point" loan funded by "XYZ Bank" through a broker will generally be the same as one funded directly through "XYZ Bank"). The real value of a good mortgage broker is the ability to search the whole spectrum of loan products available to a specific borrower, and the rates of many different lenders for those products (both bank wholesale channels and mortgage bankers, who fund only through brokers) to find the optimal combination of costs and rates. Rates change daily and specific lenders go in and out of the market frequently. A skilled broker constantly monitors these trends to find their clients the best loan, and to notify existing clients when refinancing might make sense. Brokers are required by law to disclose all compensation paid by a lender, so they have no incentive to push borrowers into less favorable loans for inceased compensation, as can occur when a bank uses undisclosed internal commission incentives to sell one product over another.

Over the last ten years, we have given over $55,000 in support to local and global nonprofits. Since 2003, we have asked our recent and past clients to submit requests for giving to organizations which they personally support. In 2005, we gave a minimum of $100 to each of over fifty organizations, totaling over $15,000. Since 2005, revenues have dropped considerably, reflecting challenging conditions in a highly cyclical market, but we will continue to make a minimum of a $100 donation to any nonprofit organization requested for each closed primary mortgage loan transaction or referral of same.
We also have been sponsors of events benefiting local non-profits including the Palo Alto Unified School District PTA, the Palo Alto Black and White Ball benefiting PiE in support of Palo Alto Schools, the Hidden Villa Duveneck Dinner, and One World Children's Fund events.