Types of Loans
A 30, 20, 15 year fixed conventional loans are loans that have the same mortgage payments for the term of the loan. Conventional loans typically are harder to qualify for than FHA loans and require a slightly higher down payment. However, in some cases rates can be lower and have lower closing costs. Also, monthly mortgage insurance is usually less or can be nothing with 20% down payment.
This type of loan has monthly payments that are based on a 30 year repayment schedule and the interest rate remains the same only for the initial fixed period. It adjusts annually thereafter. The new rate is based upon changes in a financial index and is calculated by adding a specified amount (margin) to the index.
True Jumbo Loans Up To $2.5 Million!
- FICO as low as 700
- LTV's as high as 80%
- 15-year & 30-year Fixed
- 5-year & 10-year ARM's available
- Both primary and secondary homes allowed
- Single Family Residences, Condos, PUDs, 2 units are all acceptable property types
Red carpet service comprised of industry leading rates!
- 760 + FICO
- 70% LTV or less
- 15-year & 30-year Fixed
- $250k + loan amount
Maximize your buying power or refinance savings with one of our "No Mortgage Insurance Loans". This program allows you up to 95% of your loan to value with credit scores 680 or higher. You may qualify for more purchase power, or you may increase your savings on your refinance, all while having the potential of improving your tax benefits.
With a loan amount of $350,000, credit scores of 720 or higher, no cash out, and a loan to value of 90%. We may be able to get you a 30 year fixed loan with no prepayment penalties at 4.25% with 4.60% APR. This gives an estimated monthly savings of over $200.00 for comparable FHA and Conforming loans with mortgage insurance. See the example below.
Are you under water? We can help!
- No appraisal requirements help keep closing costs down
- Refinance under HARP 2.0 to reduce your rate and monthly payment
- Close your HARP 2.0 loan in 30 days or less!
A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay.
FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers. FHA loans allow people to buy a home with a down payment as small as 3.5%. Other loans might not allow such a low down payment.
100% LOANS ARE STILL AVAILABLE USDA Rural Development/USDA Loans
It is called by many names like No Money Down Mortgage, USDA Home Loans, Zero Down Mortgage, or 100% Financing and it is available and fairly easy to qualify! Imagine buying your dream home with little to no money down with:
- NO prepayment penalty
- NO balloon
- NO Adjustable Rate!
- NO PMI
No Money Down Mortgage in California Still Exists!