There are a lot of mortgage options out there. Here are just a few...
Government programs: FHA and VA. For veterans, there is no better loan than that offered by the VA. For everyone else, especially those purchasing their first home, FHA offers a low down payment coupled with relaxed qualifying standards. Both allow the purchase only two years after a bankruptcy, and three years after a foreclosure.
CALHFA. California offers special programs throughout the California Housing Finance Authority, allowing certain qualifying first-time homebuyers the chance to finance part or all of their down payment and closing costs. Certain income and qualifying restrictions apply.
Fannie Mae and Freddie Mac. These two mortgage houses pretty much set the standard for most loans in the county. Offering programs from fixed rate, adjustable, hybrids and down payments as low as 3%. With the exception of government insured loans, Fannie and Freddie allow you to get a very competitive rate by pooling like mortgages across the country.
Reverse Mortgages. Specialized loan products that allow seniors to tap the equity in their homes to enhance their retirement. Options that are available to them include (all requiring no mortgage payments for as long as they remain in their home)
Take Cash Out or Lower your Rate. Most of the above programs allow you to refinance the loan you already have. When we sit down with you we will go over all options available and work with you to find the perfect solution for your needs.