There isn’t a single or simple answer to this question. The right type of mortgage loan products for you depends on many different factors:
- Your current financial picture
- How you expect your finances to change
- How long you intend to keep your house
- How comfortable you are with your mortgage payment changing
For example, a 15-year fixed rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage “ARM” may get you started with a lower monthly payment than a fixed rate mortgage, but your payments could get higher when the interest rate changes.
The best way to find the “right” answer is to discuss your finances, your plans and financial prospects, and your preferences frankly with a mortgage professional.
30 Years, 20 Years, 10 Years
- Interest rate does not change.
- Principal and interest (P & I) does not change.
- Fixed-rate mortgages fully amortize over a defined period of time and are paid in-full at the end of the loanterm.
- Different loan terms are available (15- and 30-year terms are most popular).
- The shorter the term, the faster equity is built and the loan is paid off.
10 Years, 7 Years, 5 Years
- P & I payment and interest rate do not change
- Regular monthly P & I payments are based on 30-year amortization, while the unpaid balance (balloon) is due at the end of a shorter, predetermined term, typically 5, 7 or 10 years.
- Interest rate is typically less than fixed–rate loans.
- Most borrowers anticipate refinancing or selling prior to the end of the balloon term.
Based on 39 reviews
01:22 23 Feb 22
21:03 18 Jun 21
23:17 17 May 21
We did a lot of research before settling on Houtan - and he has been a great find. He has helped us with our home purchase, and several refinances since then. As we look into purchasing rental properties, he is always available to answer questions and explain things in terms that non-brokers can understand. He is, and will always be a part of our investment team.
17:18 17 May 21
So happy to have worked with Houtan Hormozian and team to fund our new home loan. He gave us great advice and worked closely with our realtor and escrow company.
21:33 09 May 21
Houtan and His team are great. He got me a great rate and funded my loan before my escrow closing date. A ++
06:44 28 Apr 21
I am a realtor. Houtan Hormozian was my buyers lender. He was always very responsive and always answered my calls, some lenders never call you backHe promised he would close in 30 days and he did.I would highly recommend him.
14:10 08 Apr 21
This is a first class team of extraordinary people. They truly cared to help us get our refinance. It took months of hard work and excellent communication. Houtan and Marisol are two of the hardest working and good people in the mortgage business. I would highly recommend CRESTICO and trust that them to not give up until you have your mortgage.
18:58 03 Feb 21
Houtan is the MAN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!My husband and I had a pleasure of meeting Houtan back in 2017. Since that time he has secured 2 loans and 2 refinances for us. With each transaction he has never failed and makes the process smooth, stress free and so much fun!! Our conversations are full of laughs and I love that about him.Houtan and team are so well organized, thorough, professional, as well as kind which made all of the difference in our interactions. We put our trust in you and you most definitely came through for us. Thank you for your patience as well as treating us as people rather than just home loan customers. You stand above the rest!!!!!!!!!!!I look forward to our next transaction!Thank you Houtan and Team Houtan...you all are the businezzzzzzzz!!!!! The bomb.com!!
03:49 27 Jan 21
Crestico, & specifically Houtan's team, were a huge help in helping to navigate the byzantine waters of refinancing. Prompt replies and layman's explanations made the experience far less unpleasant than it could have otherwise been.
17:37 16 Jan 21
I was very satisfied to work with Houtan Hormozian . He was extremely professional throughout the process of my loan refinancing . He always promptly responded to my calls and emails, and everything went smoothly . I highly recommend him
03:45 13 Jan 21
23:39 06 Nov 20
Houtan and team was able to provide a cash out refinancing loan, where Bank of America could not. If you have passive income properties that worth major $$$ and you want access to your cash, Houtan and team are the way to go. If you're tired of trying and failing, and want cash in hand as a definitive, I'd give these guys a shot.
18:31 01 Nov 20
Houtan was a pleasure to work with. He was incredibly responsive to all of my questions whether via phone or email. I was so surprised how quickly he was able to answer my questions when I had them. He was also very thorough in answering them - he not only answered the "what" but the "why" and "how" (which was very important for me as a teacher!). I was referred to Houtan by a fellow teacher, and I would make the same recommendation to others as well.
17:08 16 Jul 20
It was a true pleasure working with Houtan. He really knows his stuff and made the process so easy for me. I highly recommend Crestico!
23:02 06 Jun 19
I can't fully express how satisfied I am with Houtan and the service he provided. He was professional, responsive, courteous and patient with me. He did what he said he was going to do when he said he was going to do it. He has earned my trust and my business.
20:38 04 Feb 19
Houtan and his team are exceptional. They were available every step of the way and answered all my questions now matter how big or small. They took away all the stress that comes with obtaining a mortgage. I never imagined buying the home of our dreams was possible. Houtan presented me with mortgage options that I never knew were available and he explained everything to me in detail. He's also very friendly and makes understanding what could be seen as complicated mortgage terms, very easy. I cannot thank Houtan and his team enough for everything they did to get us in the home of our dreams. Thank you!!!
21:36 06 Jan 19
Getting a mortgage for a home purchase should not be stressful, challenging or complicated and it wont be IF you are working with the RIGHT person, Trust me when I say that, I learned that the hard way but Houtan is the "RIGHT" person to work with! I started my home buying process February of 2017 after a bank teller behind the counter asked me if I had thought about it since her screen says I am pre-qualified for a mortgage and connected me with a mortgage banker at the branch, well that was a huge waste of my time since the "mortgage banker" took 3 months of my time by asking for document after document and more information just to come back to me and say his Underwriter Manager could not approve the loan and that was it! well I guess the pre-approval letter he had issued me was not worth the ink it was written with, after that I was connected with a direct home loan lender through a realtor that I had been working on finding a home and well I guess the only good thing coming out of the first banker was the fact that I had thousands of pages and letters of explanations ready for this direct lender to review, took him only 3 weeks to say Sorry, I guess that's better than 3 months, so I gave up on the process since 2 so called Sr. Loan Officers with years of experience in Los Angeles area had turned me down. I was introduced to Houtan Hormozian at Crestico Funding over summer time through a friend that just had purchased a home and had gotten his financing taken care of by Houtan, knowing my friend well enough to know his business is more complex than me with even a more creative CPA I decided to go through the process one more time with Houtan and I am glad I did cause now I am a Homeowner again! My initial reaction once I found out Houtan is a Mortgage Broker and not a lender or banker was little unsettling cause I've had really bad experience during the mortgage subprime boom back in the days and I walked into this situation with my guards up, Well I guess there is a reason why Houtan is who he is, True professional, ethical and man of his word, he never made me feel unformattable with his answers and always made sure I am as clear as possible about the answers provided, our initial interview was lengthy as I had to explain to him what I was told with past loan officers and for him to review the documents (took him 2 days since it was ALOT) to come back to me with possible options, he explained it wont be a walk through the park but with proper planning we could do what we need to do and surely enough with did! THANK YOU!!!
18:01 03 Jan 19
We worked with Houtan Hormozian for our new home purchase financing and it was a very smooth process. Houtan was totally on top of everything and made sure we were too! We both have busy work schedules and appreciated that Houtan was thorough with his follow up and making sure all the paperwork was getting done in a timely manner. His communication and organization skills are outstanding. We never felt alone in the process. I can't think of one time he was not readily available to us for any of our questions. Highly recommend!
04:24 22 Nov 18
I was shopping around for the best possible home loan lender or broker several months before the purchase of the property, I needed the loan to close fast after the offer was accepted, and I wanted the best rate and terms possible. I called many lenders, and was impressed with Houtan’s calm and thorough answers to all my questions, I liked the fact that he never tried to agree with me just so I could like him, his job is to educate and give me the options available and for me to pick and he did it perfectly, I had actually told Houtan that I had decided on another lender, and he was very understanding. When things did not work out with the other lender I called Houtan. We closed the loan in 25 days with a great rate, and better terms then he had quoted since market had gotten better! When I informed my Agent and Escrow that I am changing my loan officer and company and that Houtan was going to be my loan officer they both mentioned that I was in good hands to be working with Houtan, and that they had always liked working with him. During the loan process we needed to modify the purchase agreement and Houtan facilitated this with ease. Houtan is very patient, and seems to really care about her clients' interests. I recommend him with confidence.
00:41 27 Oct 18
Houtan is very reliable, trustworthy agent who will give the best mortgage service to his clients. I have gone to him for mortgage services always and will always come back to him in the future. He works very hard to meet clients' needs and go beyond other agent to explain, update, get the best rate at the right time. In summary, client will be very satisfied with his service and come back again to him.
18:48 17 Oct 18
My daughter the best experience with Crestico Funding. She was a first-time-home-buyer and when she approached the company looking for information, they were quick to set up a personal meeting to talk to her through the process. Houtan answered all of her questions and was prompt in sending her emails so that she was updated through the process that seemed very foreign. She valued every interaction with Crestico and Houtan as it was all positive and informative. Houtan and his team go above and beyond to make sure all questions are answered and urgent matters are attended to. She could not be happier with her recent home buying experience. I will most definitely be recommending them to friends and family for any future home endeavors.
23:24 26 Sep 18
Getting a home loan shouldn't be hard, difficult, frustrating or exhausting and i LOVE working with Houtan and having him as my mortgage broker is the decision i've made about my mortgage financing needs. he is a true professional and knows his industry very well. professional to an exted that i would never think twice about using anyone else ever for home loans or not referring him to anyone that brings us the work mortgage or lenders. His patience, experience and out of box thinking is amazing, if you ever need a home loan, want to talk to a loan officer or need to go to a bank for a mortgage needs, just call him, i guarantee you will not be disappointment.
23:05 30 Aug 18
5 Star service, they are always available and provide great service! The knowledge and experience they have in real estate is tremendous , finally we found trustworthy agents with excellent customer service and they are always available to help you.
Jane K. Lee
21:20 17 May 18
Houtan is a great mortgage advisor. He’s honest, competent, and very professional. He assisted my client with her first home purchase and we couldn’t be happier. I would be more than happy to refer my friends & family to Houtan for the great service we received. A++++
23:34 16 Feb 18
If you're looking for a smooth process and a responsive loan team, use Crestico!Houtan and Marisol are not only extremely knowledgeable about the available loan programs, but also very swift at getting the loan funded.They pushed my deal through the holidays and got the loan funded in about three weeks from start to finish.You'll be happy you chose Crestico!
21:58 02 Jun 16
Houtan worked to get us a loan for our first purchase. We contacted him last year to get all the necessary paperwork in for a pre-approval. Once we had that within a couple weeks, the search began. It took a few months before putting an offer in, and another month before finally getting an accepted offer.Along the way, Houtan did everything necessary to coordinate between my agents, the sellers agents, the escrow company, lawyers, etc. We only had to review and sign papers, all the messy/tedious stuff was handled by Crestico.Our house had a lot of competition from all cash investors, so part of our final offer was to close escrow as quickly as possible. Meaning Houtan had to push to get our loan approved in less than 20 days from the accepted offer. Everything necessary to get this done, he pulled off seamlessly.I can say now that we finally closed, the loan part of this experience was the easiest part. The escrow company, our agents, sellers' agents, sellers and lawyers were all less coordinated than the mortgage brokers. Going into it we assumed it would be the opposite, but their tight ship at Crestico made for an unexpected (in a positive way) experience.Thanks to Houtan and his team for getting us a loan in the least painful way.
22:52 25 Jan 16
When looking for a Mortgage Brokers, the most important thing you should consider is how smart the actual broker is in terms of how well they know the system (financial and laws) and how well they know their numbers. Houtan is by far a genius when it comes to these two vital aspects of buying a house. You need someone who knows how to get things to work in your favor (in this very convoluted system). You need someone who you can trust with the mathematical complication of financing a house, again, in your favor. Finally, you need someone who is quick and responsive to your needs and all your questions.I was a first time Home Owner with many questions. I phone interviewed 5 different mortgage brokers, and sent in my financial paperwork to three of them. I needed someone who understood my situation realistically. Many of them were more than happy to offer all kinds of wonderful things and promise a "no problems" situation. Some of them were all doom and gloom. Houtan was very realistic with me in terms of what I can expect and afford within the limitations I had financially. He had options depending on the structure of the loan and we looked at what different down payments and programs would mean for me. Houtan knew how every factor affected the house buying process and the financial implications.Best of all, Houtan explained EVERYTHING to a T! He picked up the phone every time I called! If not, I quickly got a call back, even on the weekends and Holidays! (In escrow during Thanksgiving) I wanted someone responsive and Houtan was it! He and his assistant replied quickly to every email no matter what time it was! I really appreciated the email responses and thorough answers.Last of all.... I won't give details, but he was able to save me A LOT of money at the end of the deal. His structure savvy methods of getting us the right loan at the right interest rate was invaluable!! Needless to say, you will not go wrong should you choose Houtan Hormozian and his team! I will refer him to everyone I know! I will also use him in all of my future home financing needs! No question!
21:54 17 Jun 15
Crestico was able to complete my loan in time with a great rate. I am extremely satisfied with the professional and timely service I have received. I have also referred them to many of my clients for their mortgage needs.
19:07 23 Feb 15
I worked with Houtan on a mortgage for my primary residence. The process was as seemless as it can get, considering it was a mortgage. I believe this was thanks to good Houtan was at what he does. Even my realtor commented multiple times on how good of a deal Houtan was able to secure for me. In addition to finding a great deal on my mortgage, Houtan was able to provide invaluable advice on the nuances of the deal. I think that this advice was almost as important as the deal itself. He would look at my situation and go through different scenarios, and suggest the best way to go forward. I learned quite a few things during this process, even though I have been through it multiple times before with my investment properties. All in all, Houtan is highly recommended and is my new go-to guy when it comes to real estate financing!
Bùi Đức Sơn
07:48 15 Aug 14
03:08 25 Jul 14
Crestico really helped us out by not only help us do a refinancing, but more importantly educating us on our options. I am not a mortgage broker so I have no idea what things like no point no cost means. However, after speaking with their friendly and knowledgeable staff, I really had a good understanding about the benefits of a no point no cost mortgage. I also liked how Crestico has a high level of customer satisfaction. All of these things combined make them the leaders in the real estate industry backed by excellent service.
00:36 06 Jun 14
I recently referred a client to Crestico for Real Estate and Mortgage needs, and I am so happy that I did. Not only did Mr. Hormozian and his team take care of my clients needs, but they did it in such an excellent manner that my client felt compelled to send ME a thank you note for the services provided by Crestico. Mr. Hormozian's actions made me look good and Crestico will always be my first point of referral for all Real Estate and Mortgage needs of my clients. My thanks to the entire team @crestico.
21:03 21 Apr 14
A friend of mine referred me to Houtan with Crestico Funding. From the moment I met with Houtan, I found him to be an extremely professional and knowledgeable mortgage broker. Houtan took a proactive approach with my file in order to prevent any problems from arising in the future, as opposed to other mortgage brokers who would wait and see if any problems would arise. I like the fact that he cared about me as an individual and I'm looking forward to work with him again in the future. I will definitely refer all my family and friends to him.
18:24 08 Apr 14
If you are looking for a reliable mortgage broker in Los Angeles I'd say your search is over! I've have been looking for a Loan Officer that would be able to help me and my family with refinances and purchases that we have in mind. Our financial situation is little more complicated becuase of the number of people involved in each transaction and most loan officers were not able to undrestand our finances to come up with the strategy that would help us achive our financial goals. I am very pleased with the level of professionalisim and service deliverd by Houtan and his team. He was always available to answer my questions through out the process from the begining to end. I strongly recommend contacting Houtan for a consultation.
05:51 16 Feb 14
An amazing experience with a great mortgage lender is priceless and my exprience with Houtan and his team was exactly that! I had been shopping for a good broker that could provide the lowest rate and fees for my complicated situation and that is exactly what i got here. I am very happy with my experience. I highly receommend Houtan to anyone who is looking for a good lender that provides you with an amazingly excepetional service at super low interest rates in Los Angeles.
01:07 20 Jan 14
Looking for a home loan sounds like a nightmare but i was lucky enough to be referred to Houtan through a friend of mine who had gotten his mortgage from Crestico Funding.As a first time home buyer i had absolutely no knowledge about the process but Houtan was nice enough to answer all my questions patiently and walked helped me get a home loan at an amazing low rate with no cost for my new home. I am a proud home owner with the help of Houtan, even after couple of months when i started receiving all these letters from the banks and city i was able to call him and get the answers to all the different questions. I highly recommend Houtan and Crestico Funding to anyone out there who is looking to get a home loan.
18:25 26 Sep 13
As a first time home buyer i have been hearing horrible stories from friends and family members about their dealing with Mortgage Brokers and Realtors and now i understand why they all have such bad experiences in most cases.Long story short, after hearing all their horrible stories, i started my search for a broker and Realtor online and came across CRESTICO on multiple websites such as yelp and yahoo and i decided to call and start my process, i have to say, at first i was on the fence about using a small company like this because i thought they may not have the right resources to help me accomplish my goals but now i understand it has nothing to do with the size of the company and its all about the individual who is guiding you throughout the transaction.Big companies have the name that everyone knows but at the end of the day, the person who helps you is an individual that works there that may have the knowledge that you look for, at CRESTICO, working with Houtan I learned about Real Estate and Mortgage process from the beginning which was great, now i know more about this process than i thought i would ever be able to understand.I am pleased to say I am a proud home owner with an amazing mortgage which fits my needs perfectly. I have and will continue to refer and recommend friends, family and colleagues to Hotuan for their purchase and refinancing needs.
23:14 26 Jul 13
Working with Houtan is a true pleasure. He is extremely helpful, knowledgeable, and responsive. I can't remember how many times I texted and emailed him at lunch and dinner hours, on weekdays and weekends. He was always happy to explain and strategize with me whenever I needed help. Unlike most realtors and lenders out there who don't want to use their brains and only do easy and mindless paperwork, Houtan has great analytical and investment insights to share with his clients. I have bought two houses through him already. Looking forward to working with Houtan more!
16:18 19 Jul 13
If you are looking for a knowledgeable local mortgage broker with low fees and low interest rate, look no more! I found Crestico Funding searching for a local loan officer in Los Angeles. they reply to my email in matter of minutes and help me get started, the whole process took about 35 days but i was expecting it based on my previous experience, but unlike last time, i loved the fact that my questions and concerns were answered quickly with a clear explanation!