Loan Options

Conventional Loan Icon

CONVENTIONAL LOANS

A Conventional Mortgage is likely going to offer better rates compared to high-balance, jumbo, or bank statement mortgages. These loans fall into the conforming loan amounts which currently max out at $726,200. Anything higher than that amount will fall into the high-balance or jumbo category depending on which county you reside in California. Conventional loans typically offer 15, 20, and 30-year-fixed options as well as 5/1, 7/1, and 10/1 ARM options. The down payment requirement can be as low as 3% for first-time home buyers or as low as 5% if you've already owned a home.
Jumbo Loan Icon

JUMBO LOANS

Depending on loan size and the county you're in, Jumbo Loans can start with a loan amount of $726,201 or at $1,089,301 if in some other high-cost counties such as Orange and Los Angeles County. Jumbo loans usually offer 15 and 30-year fixed as well as 5/1, 7/1, and 10/1 ARM options.
Reverse Mortgage Loan Icon

REVERSE MORTAGE LOANS

A Reverse Mortgage is perfect for anyone over the age of 60 that is looking for additional monthly income or is retired and can no longer make their current mortgage payment. You can receive monthly payments or pull out your equity with a lump sum payment. We have loan officers dedicated to these types of loans that can help better inform you about this product that is relatively new.
Bank Statement Loan Icon

BANK STATEMENT LOANS

Perfect for self-employed clients, Bank Statement Loans allow you to use the deposits made into your business bank account as income. Generally, there is a 50% expense ratio deducted from these deposits but with a CPA letter that number can decrease. If you are self-employed or own a small business and you write off a big portion of your income, then this is the loan for you. We have loan officers that process these types of loans exclusively, so please give us a call with any questions.
VA Loan Icon

VA LOANS

The VA Loan is a $0 down mortgage option available to military veterans, service members, and select military spouses. VA loans are issued by private lenders such as mortgage companies or banks and are guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans are more affordable than any other home loan program available and rightfully so – if you served our country, you deserve a special mortgage opportunity in return for your service.

VA loans offer loan options that include no down payment, lower interest rates than conventional loans as well as other special loan terms offered exclusively for veterans and service members of the US military.
FHA Loan Icon

FHA LOANS

FHA Loans are a great option for first-time homebuyers, but you don't need to be a first-time buyer to qualify. The flexibility provided by FHA loans makes them ideal for homebuyers of all types. FHA loans only require a 3.5% down payment and borrowers only need to have a minimum credit score of 580. Buyers can qualify for a loan despite having a higher debt-to-income ratio by having a steady employment history and can also receive money from FHA (Federal Housing Administration) to cover closing costs.
Home Equity Loan Icon

HOME EQUITY LOANS

A Home Equity Line of Credit, or HELOC, is a solid option for someone that has a great rate on their current mortgage but needs some cash for upgrades on their home. Options range from 10, 20, and 30-year payment plans as well as interest-only options. Most HELOCs have an adjustable rate, so contact us for current rates and we'll be happy to answer any additional questions you may have as well.

Ready to learn more?
Speak with one of our experienced loan consultants.

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Pacific Coast Home Loans & Realty, Inc. is a Licensed Real Estate Broker,  California Department of Real Estate.

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