| Loan
Products |
 |
|
Reverse
Mortgages
It's
a mortgage in reverse! This is the loan that pays you. It
can give you cash, a credit line, a monthly income or a
combination of all three. You must be age 62 or older and
own your own home. The home does not need to paid for. This
loan is also know as a reverse annuity mortgage. Learn More |
|
|
Purchase
Options
Structuring a loan to meet your needs is important to
you and us. Listed below are a few of the options
available. Some options can be combined. Not
all of the options are listed. Let us know what
your goals are. We can help.
- Special
Programs for borrowers with excellent credit.
- Special
Programs for borrowers with good credit.
- Special
Programs for borrowers with less than perfect credit.
- 100%
Financing - No Down Payment.
- 103%
Financing - No Down Payment Plus 3% for other costs.
- First
time home buyer programs.
- Low
Income and Moderate Income programs with reduced rates
and low or no down payments
- Down
Payment Assistance Programs.
- Low
to Moderate Income Programs.
- Combine
a first and second mortgage to avoid mortgage insurance.
|
|
|
|
Refinance
Options
Structuring
a loan to meet your needs is important to you and us.
Listed below are a few of the options available. Some
options can be combined. Not all of the options are
listed. Let us know what your goals are. We
can help.
- Refinance
to a lower interest rate.
- Convert
some of your equity to cash for bills, college, etc.
- Take
advantage of increased property values and refinance without
mortgage insurance.
- Cash
to Pay For Bills, College, Vacation
- For
any purpose you want.
|
|
|
New
Construction
Building a new home can be an exciting prospect - unless
you get caught up in a construction loan approval process
that's overly complicated and time consuming. Two loans
are usually needed. One during the construction period and
a new one (permanent loan) to pay off the construction lender.
We also offer a single Construction-to-permanent loan which
save money, time and frustration. We offer a one time fixed
rate closing or traditional ARM products. |
|
|
Home
Improvement
Add a bathroom, bedroom, new kitchen, swimming
pool, or any other home improvement. Rehabilitate a fixer
upper. This will allow for the purchase of the home, if
you don't already own it, and the improvements that you
want to make. |
|
|
Home
Equity Line of Credit
HELOC
(Home Equity Line of Credit) is a loan against the equity
in your home. Typically, payments can be interest only or
interest and principal. You can pay down or pay off the
balance or use the unused part of the line anytime you want.
It can be either a first mortgage or a second mortgage.
It can even be used when purchasing a home. HELOCs are adjustable
rate mortgages. |
|
|
Second
Mortgages
Second
mortgage loans subordinate to the first mortgage. These
loans offer the borrower the ability to get money for home
improvement, debt consolidation or many other reasons without
disturbing their first mortgage. Convenient when you have
a low interest first mortgage. Seconds can also be used
when purchasing a home. It is offered with either a fixed
rate or an adjustable rate. |
|
|
FHA
Mortgage
Backed
by the Department of Housing and Urban Development, this
mortgage offers the borrower the ability to put as little
as 3% down payment – and they can even finance “allowable”
closing costs. Seller can contribute up to 6% of the purchase
price to the buyer towards closing costs. |
|
|
VA
Mortgages
Backed by the Veterans Administration and the Federal Government,
it is similar to FHA except that you have to be a qualified
Veteran or military person. Depending on your circumstances
and the transaction, you may be able to put as little as
0% down. |
|
|
High
Debt Ratio
A ratio of monthly bills to monthly income higher than 50%
is considered a high debt ratio. Loan programs are available
for borrowers in this situation, allowing them to finance
the purchase of a home or property. |
|
|
Less
Than Perfect Credit
Also know as B through D and Sub-Prime Loans - These mortgages
are for the credit challenged. They can vary from slightly
damaged credit to severely damaged. Whatever the situation
we probably have a mortgage that will get you back on track.
|
|
|
| Primary
Residence
This
is the home that you live in most of the time. Typical property
types are Single Family Residence, Condo, PUD. Some properties
can be two, three or four units. |
|
|
Second
or Vacation Homes
Your home away form home. Typically one or two units that
are used by you and not rented for investment income. |
|
|
Investor
Loans
Used to finance 1-4 family properties that will be for investment.
|
|
|
Special
Programs |
|
|
CalPERS
Member Home Loan Program
The Program offers unique benefits to over 1.4 Million
Members throughout California., including reduced fees,
competitive interest rates, and special low or no down
payment programs. Plus, the 100% Financing Option and
Home Buyer Programs can make purchase or refinance available
to members who may not have qualified for a mortgage loan
outside of the Program.
-
The
CalPERS Member Home Loan Program can be offered to any
active, inactive, or retired member of:
California Public Employees' Retirement System (CalPERS)
-
Legislators' Retirement System (LRS)
-
Judges'
Retirement System (JRS)
Qualifying
a customer for a CalPERS Home Loan is no different from
qualifying them for any other type of mortgage. But, the
CalPERS Program allows you to offer your customer many
advantages over other loan programs, providing you with
a persuasive product. Learn
More
|
|
|
CalSTRS
Home Loan Program
Low Cost Loans with Many Options
Whether
you are dreaming of buying a new home, lowering your existing
payments, or taking cash out, the CalSTRS Home Loan Program
can help by offering competitive rates on a variety of
mortgage loan programs:
-
Conventional 15 or 30 year Fixed Rate Program –
Competitive rates are available for buying a new home
or refinancing to meet your individual needs. Mortgage
loan amounts are available up to $834,000.
-
Zero
Down (95/5) – You can buy a new home without any
money down. Mortgage loan amounts are available up to
$450,000.
-
80/17
Program – Qualifying for a larger home mortgage
is now available because of the low payment during the
5-year second mortgage deferral period. Mortgage loan
amounts are available up to $550,000.
|
|
|
Extra
Credit Teacher Program
The Extra Credit Teacher Program (ECTP) is designed
to make home ownership a possibility for eligible teachers,
administrators, classified employees and staff members working
in high priority schools in California. Learn
More |
|
Apply
now! |
CalHFA
(California Housing Finance Agency, A State of California
Agency)
The mission of Homeownership Programs is to provide affordable
housing opportunities by offering below market interest
rate mortgage programs to very low-to-moderate income first-time
homebuyers. There are several unique features and programs
offered which may fit the need of the prospective buyer.
Learn More
|
|
|
NHF
- National Homebuyer Fund
NHF offers six down payment assistance programs
including conventional, FHA and programs for CalPERS members.
Learn
More
|
|
|
Down
Payment Assistance Programs
We have the following programs available for
down payment assistance.
|
|
|
