Loan Options

LOW DOWN PAYMENT LOANS

FHA: Purchase or Refinance / Downpayment is only 3.5% (can be ‘gifted’) / Requires minimum credit score of 640 / Seller allowed to pay Buyer’s closing costs. Manufactured homes o.k.

USDA: 100% Financing / Income limits apply based on family size / Seller allowed to pay Buyer’s closing costs. Requires a minimum credit score of 620 / No swimming pools allowed.

CAL STRS: State Teachers only / 100% financing option /

VETERANS: VA home loans for qualified veterans / 100% financing / Seller allowed to pay Buyer’s closing costs / DD214 required for Certificate of Eligibility with the Veteran’s Administration / Manufactured homes o.k.

CITY and COUNTY DOWN PAYMENT ASSISTANCE PROGRAMS: Programs available on an as-funded basis. Income limits apply. Call for updated guidelines and availability.

All of the above loans require owner occupancy.

CONVENTIONAL CONFORMING and JUMBO LOANS

Available for purchase or refinance of owner occupied, vacation homes and investment properties. Conforming limit is $417,000 and Jumbo loans to $1,000,000.

Fixed Rates and Adjustable Rate Mortgages at various loan terms available.

MANUFACTURED HOMES:

Must be 1976 or newer on a permanent foundation / No mobile home park financing /

INTEREST ONLY and BUYDOWN LOANS:

Interest Only: 5 year fixed rate with interest only option available. Lower initial rate.

Buydowns: Borrower’s interest rate can be reduced for the first two years of the loan with a lender funded ‘buydown’