Fixed Rate Loans
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30- & 15-year terms are all available with fixed rate.
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Buy a home with as little as 5% down (primary home).
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Refinance up to 95% of your primary home's value.
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Monthly payments remain the same for the entire loan term.
Adjustable Rate Loans
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3/1, 5/1, and 7/1 ARM's. Monthly payments based on a 30 year repayment schedule.
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The rate stays fixed for the first 3, 5, or 7 years (depending on chosen term), and then adjusting annually thereafter.
FHA 30 Year Fixed Program
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3.50% minimum down payment required on purchase.
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Minimum credit score usually 620.
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Post-bankruptcy qualifying - 2 years after.
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Post-foreclosure qualifying - 3 years after.
VA 30 Year Fixed Program
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Competitive interest rates that are routinely lower than conventional rates.
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Sellers can pay up to 6 percent of closing costs and concessions.
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Higher allowable debt-to-income ratios than for many other loans.
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Down payment as low as 0%.
FHA / VA EEM
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FHA / VA Energy Efficient Mortgage (EEM) Program
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up to 5% of the purchase price of your home can be used for Energy Efficient Improvements
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VA Financing under this program allows up to $6,000.00 for Energy Efficiency Improvements
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No additional credit qualifying required.
CalHFA / My Home / Zip
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ability to lend 100% of the property purchase price
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maximum of 4% of the loan amount for closing costs
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home buyer has an option to finance up to 104% of the purchase price
Reverse Mortgages
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Fixed Rate or Adjustable options
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Monthly payment is not required
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Lifetime Monthly Income is an option
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Line of Credit option provides a “safety net” for the unexpected