Fixed-Rate Mortgages (FRM)
With interest rates as low as they are, it only makes sense to use a Fixed Rate Mortgage. Fixed-rate mortgages are available in Conventional, FHA & VA Home loans. This will give you the security that your payments will not fluctuate while you have this loan on your home.
Adjustable Rate Mortgages (ARM)
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
Hybrid ARM mortgages combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.
FHA home loans are loans that allow a homebuyer to get into a home for as little as 3 1/2% down payment. Also, if you are already in an FHA loan, you may Streamline your loan to obtain a better interest rate, term, or both with minimal documentation and no appraisal requirement.
VA loans are possibly the BEST loans on the face of the planet hands down. VA home loans allow the Veteran or Active Military Service Member to finance up to 100% of the purchase price or up to 100% of the value for a cash-out refinance if they have full entitlement. (Entitlement is the benefit earned by the Veteran or Active Military Service Member). VA Home Loans also have an IRRRL (Interest Rate Reduction Refinance Loan) which allows a Veteran or Active Military Service Member the ability to refinance their loan and lower their interest rate, term, or both with minimal documentation and no appraisal requirement.
Cal-Vet Home Loans
Cal-Vet Home Loans are designed to help Veterans and Active Military Service Members in California only to purchase a home when credit and other challenges exist. These loans are approved on a case by case basis. Depending on income, closing costs may be financed in the form of a silent second that will not have any required payments for ten years.
Reverse Mortgages allow folks that are 62 years of age and older to tap into their home's equity and covert a portion of that home equity into cash while still living in the home. These are FHA loans and a counseling class with an approved HUD Counseling Agency must be taken by the Borrower prior to a loan application being taken.
Self-Employed & 1099
Folks that are Self-Employed or receive a 1099 find themselves usually not being able to qualify for a home loan. We all understand that if you are self-employed you will write off as many of your expenses that you can. The problem is that after all those expenses are written off, typically there is not much income left. We have loans that will solve this dilemma. We offer bank statement loans and stated income loans that may help you qualify for a home loan. These loans are portfolio loans and have different guidelines than your conventional, FHA, VA, or USDA loans. These loans are typically funded by private institutions and are not backed by any governmental entity. This is a great solution for the self-employed.
What kind of loan program is best for you?
Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.