Mokelumne Hill Mortgage

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Mokelumne Hill is a census-designated place located in Calaveras County, California. As of the 2000 census, the CDP had a total population of 774. It is commonly referred to as "Moke Hill" by locals. The town takes its name from the neighboring Mokelumne River, which in turn is Miwok for the "people of Mokel," the likely name of an Indian village in the area. Mokelumne Hill was one of the richest gold mining towns in California. Founded in 1848 by a group of Oregonians, the placers were so rich that the miners risked starvation rather than head to Stockton to replenish their supplies (one finally did and made it rich by becoming a merchant). Soon after, gold was discovered in the nearby hills, so much so that miners were restricted to claims of 16 square feet, and yet many of those claims were reported to have paid up to $20,000.
By 1850 the town was one of the largest in the area, with its population reaching as high as 15,000 with people of all nationalities: Americans, Frenchmen, Germans, Spaniards, Chileans, Mexicans, Chinese, and others. Besides racial tensions, the easy gold attracted criminal elements, and the town gained a reputation as one of the bawdiest in the area. Notorious bandit Joaquin Murietta is said to have been a frequent visitor to the gambling venues. Violence was a major problem as well. In 1851, there was at least one homicide a week for seventeen consecutive weeks. A "vigiliance committee" was formed and by 1852, the worst of the crime was eliminated. That year, the town became the county seat.
By the 1860s the gold started to run out and the town's population and importance diminished. When San Andreas became the new county seat in 1866, Mokelumne Hill's status declined even further. The town today is a quiet place, with lots of tourism due to its historic status. Mokelumne Hill is registered as California Historical Landmark #269.

http://www.co.calaveras.ca.us/ - other helpful information

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Mokelumne Hill Fixed Rate Mortgages

This is the most common type of mortgage program. Your monthly payments for interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable.

Mokelumne Hill Adjustable Rate Mortgages

These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home. However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

Mokelumne Hill Reverse Mortgage

A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the equity in their home to cash to finance living expenses, home improvements, in-home health care, or other needs. With a reverse mortgage, the payment stream is "reversed." That is, payments are made by the lender to the borrower, rather than monthly repayments by the borrower to the lender, as occurs with a regular home purchase mortgage.

California FHA and VA Mortgage Loans

There are many factors to consider when applying for a government loan. We will be by your side every step of the way. Below is some helpful information to help get you started.