Loan Programs

June 7, 2016

Mortgage and loan programs

 

We have loans programs to fit a wide variety of situations.  If you don’t see something here please ask.  This page is not all inclusive of the programs we offer.

Conventional Loans

  • 3% Down Conventional Purchase Loans
  • 5% Down Conventional Purchase Loans & Refinances
  • Rate and Term Refinances
  • Cash Out Refinances
  • Delayed Financing – for when you purchase a home with cash, and within 6 months want to finance the amount paid for the home to get your cash back out
  • Financing for 5-10 Properties – we have several lenders that offer conventional financing for 5-10 investment properties
  • Renovation Loans – conventional renovation loans allow you to finance rehab costs for purchases and properties you already own – limited to 1-2 unit owner occupied homes, 1 unit second homes, and 1 unit investment properties

FHA

  • FHA Purchase Loans – purchase a home for as little as 3.5% down
  • FHA Cash Out Refinances – refinance up to 85% of your home’s current value (determined by appraisal)
  • FHA Renovation Loans
  • FHA Streamline Refinance
  • Good Neighbor Next Door – HUD’s 50% off program for certain HUD owned homes in revitalization areas for teachers, firefighters, and law enforcement officers (www.hudhomestore.com)

HARP Program:   Updated November 28, 2016 The Home Affordable Refinance Program (HARP) is designed to assist homeowners in refinancing their mortgages – even if they owe more than the home’s current value. The primary expectation for Home Affordable Refinance is that refinancing will put responsible borrowers in a better position by reducing their monthly principal and interest payments, reducing their interest rate, reducing the amortization period, or moving them from a more risky loan structure (such as an interest-only mortgage or a short-term ARM) to a more stable product (such as a fixed-rate mortgage). NOTE : HARP extended by one year; will end on September 30, 2017 (announced August 25, 2016).

 

VA

  • VA 100% Purchase Loans – purchase a 1-4 unit primary home for eligible Veterans
  • VA IRRR – a streamlined refinance process for VA loans
  • VA One Time Close – For Manufactured, Modular, and Stick Built properties: finance the construction, lot purchase, and permanent mortgage all with a single One-Time Close loan.  No Re-Qualification.  No Second Appraisal.  This program offers an all-in-one financing option for construction, lot purchase, and permanent mortgage funding with one closing. Because the permanent loan is closed before construction begins, there is no need to re-qualify, simplifying the construction and purchase process. 

USDA

Jumbo Loans

Alternative Documentation Loans

  • Bank Statement Program – Qualify with 12-24 months bank statements and profit & loss statement, instead of tax returns & W2’s
  • Asset Depletion – Do you have significant liquid assets but little or no income?  You may be able to qualify for a loan using your assets
    • Please note these options will not appear on our rate search – call 714-603-9383 for a quote.

Lender Portfolio Options / Hard Money

  • We have several options for borrowers that do not fit within the traditional bank guidelines.  These loans generally come with higher rates but may allow you do obtain financing when other lenders say no.
    • Please note these options will not appear on our rate search – call 714-603-9383 for a quote.

 

 

 

Disclaimer:  This is not a committment to lend.  Not all loans options will be available to all borrowers depending on individual circumstances.  We are only able to offer the programs mentioned above in the state of California.