Skyline Financial Corporation (“Skyline”) is an independent mortgage lender headquartered in Calabasas, California. Founded in 1985, Skyline has loan officers in local branch offices throughout the country to serve their clients. Skyline has a multiple plans and a cutting edge technological system to apply for loans and to follow the prequalification process. Their business seeks a diverse clientele. They offer one of the broad array of loan options, from first time and move-up homebuyers, to Jumbo loans, VA loans, reverse mortgages, investment properties, refinancing and everything in between. They are a direct Freddie Mac, Fannie Mae, Ginnie Mae lender and claim to “have a successful track record of creating proprietary niche loan products to serve unique financial needs.” They operate in over 20 states and have no doubt profited greatly from the California real estate boom.
Specializing in the Home Loan Process
The main business of Skyline is to provide home loans and all other financial products associated with home ownership. That means they specialize in putting people in homes as opposed to broader financial enterprises that have all sorts of other financial products. This gives them the focus necessary to be experts in the process. Their website is state of the art and the application process is “streamlined” and digitized for more efficiency. They survived the 2008 financial crisis and have come out the other side by applying new technological solutions and research on how to get their clients the loans they want and need.
A Final Cautionary Note
Any company that offers retail loans charges fees for overseeing the process of securing a home loan. The Federal Truth in Lending law requires that all financial institutions disclose the APR when they advertise a rate. The APR is designed to present the actual cost of obtaining financing, by requiring that some, but not all, closing fees are included in the APR calculation. These fees in addition to the interest rate determine the estimated cost of financing over the full term of the loan. Since most people do not keep the mortgage for the entire loan term, it may be misleading to spread the effect of some of these upfront costs over the entire loan term.