Why Choose Shea Mortgage

CONFIDENCE FROM OUR FAMILY TO YOURS

At Shea Mortgage, we are passionately committed to providing excellent customer experiences, and value each of our homeowners like they are members of our extended family. Our legacy and our longevity are directly attributed to honoring our core values of "Honesty," "Integrity," and "Respect" for our customers.  

Honesty 

As a home mortgage lender, we know that the home buying process can be overwhelming. We want our customers to feel confident and informed throughout the home buying process, and that starts with transparency. By providing clear, understandable information, we hope to build trust with our customers and establish long-lasting relationships for years to come. 

Integrity 

We strive to be accountable for our actions and decisions because our customers deserve it. Our words match our actions, and our customers’ best interests come first. We hope that our dedication to integrity gives our customers the peace of mind they need to make informed decisions about their mortgage, and to trust us with their most important investment. 

Respect 

Our commitment to respect means we act with courtesy and professionalism. We do our best to make the home buying process a positive and rewarding experience for our customers, so they can feel proud to have chosen us as their home mortgage lender.

WHY CHOOSE SHEA MORTGAGE AS YOUR HOME MORTGAGE LENDER?

We understand that there are many options available when it comes to selecting a home mortgage lender, but we are confident that our team of experts stands out from the rest.  

Trusted Expertise in the Home Building Industry 

Shea Mortgage has a business relationship with Shea Homes, and because of this relationship we have expertise in the new home building industry. We have seen the industry change and evolve over time and have adapted to meet the needs of our customers in every market condition. Through it all, we have remained steadfast in our commitment to helping our customers achieve their dream of homeownership 

Unlike other mortgage companies that may be less familiar with the Shea home building process, every member of the Shea Mortgage team is highly knowledgeable about the Shea process and has been designed for peak efficiency for new home mortgages. 

Competitive Rates and Approval Periods 

As a direct lender, Shea Mortgage has access to competitive rates and loan programs. This also allows us to offer fast review periods for pre-qualification, typically within 24-48 hours. Our singular goal is to provide our customers with the highest level of customer service while providing valuable loan products at a competitive price.  

Innovative Communication Solutions 

At Shea, we not only want you to feel confident in your home buying decision, but also well-equipped for the journey ahead. That’s why Shea Mortgage uses a user-friendly online portal to help you through the homebuying process, so you’ll always be kept in the loop. This tool is an easy one-stop shop that streamlines communication and allows you to store your financial documents, check in on process updates, and see any outstanding tasks that need to be completed. 

WHAT TYPE OF HOME LOANS DOES SHEA MORTGAGE OFFER?

Shea Mortgage offers a variety of loan programs including:  

• Adjustable Rate Mortgage (ARM): An adjustable rate mortgage (ARM) is a loan with an interest rate that changes. With an ARM, the initial interest rate is fixed for a period of time. After that, the rate adjusts at specified intervals during the remainder of the loan term. Adjustments are based on an "index" (the value of which can change over time) plus a "margin." The index plus the margin determine the fully adjusted rate, which is typically subject to certain limits (ceilings and floors). These limits are referred to as "caps."  

• FHA Mortgage: A mortgage for which the lender is insured against loss by the Federal housing Administration, with the borrower paying the mortgage insurance premium. The major advantage of a FHA mortgage is that the required down payment can be as low as 3.5%.  

• VA Mortgage: A mortgage for which the lender is insured against loss by the Veterans Administration. The primary advantage of such a mortgage is that the borrower can put little or no money down, and the loan carries no mortgage insurance. There is no maximum loan amount so long as the borrower qualifies and has full entitlement. Only Veterans, Active Duty, and Surviving Spouses are eligible for this type of mortgage. 

• Jumbo Mortgage: A jumbo loan or mortgage is a loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA) for Fannie Mae and Freddie Mac. In 2023, single-family mortgages with balances higher than $726,200 in most U.S. counties (and $1,089,300 in high-cost areas) will be considered jumbo. 

Our Shea Mortgage team can provide you with an understanding of loan options available. We want to help you choose the loan that best fits your needs. Read more about Shea’s mortgage loan options.  

Contact our Shea Mortgage Team

WHAT ARE THE STEPS TO SECURING A HOME MORTGAGE LOAN?

If you are ready to take the next step in the homebuying process, it's best to contact a lender and get pre-qualified. By getting pre-qualified, your loan originator will help you assess what you may qualify for and give you payment examples to ensure the numbers align with your monthly budget. Once you receive your pre-qualification, your search for your dream home can begin! When you select your home and go into the contract phase, the final step in receiving a loan is to complete a full loan application. Once your application is accepted, your loan originator will reach out to help you get ready for closing! Learn more about our mortgage process. Learn more about our mortgage process. 

If you would like to speak with a Shea Mortgage team member before submitting a pre-qualification application, please submit an inquiry form or call us at 800-540-7432.  

HOW TO DECIDE WHAT MORTGAGE LOAN IS BEST FOR YOU?

There are a variety of loan programs, loan terms, loan rates and loan options available today. We know it can sometimes be overwhelming to figure out which is best for you. Our Shea Mortgage team is here along the way, providing expert advice to help you choose a loan that best fits your needs.  

SHEA MORTGAGE & SHEA HOMES

Our close connection with your new home builder allows for constant, seamless communication with community sales teams. Our lenders know the new home building process inside and out, so they can coordinate your home financing plan with the construction of your dream home.  

Connect with Our Shea Mortgage Team 

FAQS
 

WHAT IS A MORTGAGE?

A mortgage is a loan, secured by the collateral of specified real property, that the borrower is obliged to pay back with a predetermined set of payments.

WHAT IS A MORTGAGE PRE-QUALIFICATION?

During the pre-qualification process, you will get an estimate of what you may be able to borrow for your home based on some basic information you provide about your finances and a credit check. The pre-qualification process is also a time to explore the different types of mortgages available to understand which loan program will best fit your needs. A pre-qualification is not a pre-approval or approval. Learn more about the mortgage pre-qualification process.

WHAT IS THE DIFFERENCE BETWEEN A FIXED-RATE LOAN AND AN ADJUSTABLE-RATE LOAN?

With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to one of our loan originators.

WHAT WILL MY MONTHLY MORTGAGE PAYMENT BE?

For most homeowners, the monthly mortgage payments include the following:

• Principal: Repayment on the amount borrowed

• Interest: Payment to the lender for the amount borrowed

• Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company. In some cases, homeowners may also pay Mortgage Insurance, Homeowner's Association Dues and/or other assessments. 

To calculate a mortgage payment, use our mortgage calculator. 

HOW DO I FIND OUT HOW MUCH HOUSE I CAN AFFORD?

This is a personalized question that is best discussed with your financial advisor or mortgage provider. Generally, the amount that you can borrow will depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Learn more about how to calculate what you can afford with our step by step guide to buying your dream house. Please feel free to contact our Shea Mortgage Team directly with questions with questions

HOW DO INTEREST RATES AFFECT MY MORTGAGE?

An interest rate is an additional amount charged on top of the principal amount of the loan by a lender to a borrower. There are many factors that impact mortgage interest rates including type of loan, mortgage points, cash payments and personal financial factors such as credit score, income and the type of home being purchased. When buying a home, the overall mortgage cost is calculated based on the total amount paid back to the lender over the life of the home loan. Find out more on our blog, The Relationship Between Interest Rates, Home Price, And the Cost Ownership.

WHAT IS THE ESCROW PROCESS? HOW LONG DOES IT TAKE?

Escrow is a series of transactions with which a neutral third party collects, holds, and delivers funds from the sale of a home. Each state has different laws governing aspects of escrow, and the time it takes to approve funds in escrow varies depending on the circumstances of the purchase. In most states, escrow can close in 30 to 60 days on a completed home, though there are many situations that could increase that window. Some of the factors determining the length of escrow include mortgage pre-approval, underwriting guidelines, and if there are any contingencies and building inspections. When it comes to paying cash, a home can close much sooner. In some cases, if a home is still under construction, escrow will be dependent on either the completion and inspection of the home and/or the funding capabilities of the lender. Learn more about the escrow process.

WHAT ARE CLOSING COSTS?

Closing costs are monies paid by the Buyer or the Seller for various services provided in connection with the closing of a home purchase and/or mortgage loan. This generally involves an origination fee and/or discount points, appraisal, processing fees, title and escrow fees, appraisal fees, credit report fees, other third party fees, and prepaid items such as property taxes, interest and home insurance.

HOW DO I LOCK MY INTEREST RATE?

A mortgage rate lock is a financial tool that is provided by lenders to help control the fluctuation of mortgage interest rates during the processing of your loan. A ‘rate lock’ allows the borrower to freeze (i.e., lock in) the interest rate on a mortgage for a specified time period at the then current interest rate. This tool takes the guesswork out and allows the borrower to plan and budget without the risk of the market adjusting during the time the loan is being processed. Rate locks are generally available between 30 and 60 days but can sometimes be extended a little bit longer if an extended rate lock program is available.
Our Shea Mortgage™ team can provide you with basic understanding of loan options available and help you choose the loan that best fits your needs. Find out more on our blog: 8 Common Questions About Mortgage Rate Locks.

IS BUYING A HOUSE BETTER THAN RENTING?

Most people decide to move from renting to owning due to a life change such as relocation, a new job, someone is moving into or out of your current living situation, a new baby is on the way, or marriage. No matter what life stage you are in, there are a lot of things to consider when deciding to move from renting to buying a new home, as homeownership can have both its advantages and disadvantages. If you’ve started contemplating the possibility of giving up renting to make the move into your own home there are pros of owning your own home, as well as benefits of renting, to consider in the process. Learn more about the pros and cons of renting vs buying.

HOW DO I KNOW WHICH HOME MORTGAGE OPTION IS RIGHT FOR ME?

There are a variety of loan programs, loan terms, loan rates and loan options available today. Our Shea Mortgage team can provide you with a basic understanding of loan options available and the definition of key terms to help you choose the loan that best fits your needs. Learn more about the different loan types available.

DO I HAVE TO USE SHEA MORTGAGE TO BUY A SHEA HOME?

Buyers of Shea homes are not required to use Shea Mortgage as their lender and are free to decline any incentives tied to the use of Shea Mortgage and use any lender of your choosing.  

Buyers are NOT required to use Shea Mortgage, are free to use any lender of their choosing, and are free to decline any incentives tied to the use of Shea Mortgage. Shea Mortgage is an independent member of the J.F. Shea family of companies. Lending In: Arizona: Arizona Department of Financial Institutions License #0904079, NMLS #40397. California:  NMLS ID #40397, CA Department of Real Estate License #01197403. Colorado: Colorado Uniform Consumer Credit Code Supervised Lender License #988132. Florida: Florida Office of Financial Regulation License MLD111, NMLS #40397. Nevada: State of Nevada Department of Business and Industry Division of Mortgage Lending License Number 4111. North Carolina: North Carolina Commissioner of Banks Mortgage Lender License #L-106078, NMLS #40397. Texas: SML Mortgage Banker Registration – MLS – 40397. Virginia: State Corporation Commission Bureau of Financial Institutions License Number MC-5849. Washington: Washington Department of Financial Institutions Consumer Loan License #CL-40397. Neither Seller nor Shea Mortgage can guarantee your credit score will improve or that participation in this program will result in loan approval on any specific terms, rates or conditions.