Loan Options

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 $806,500. 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.

Depending on loan size and the county you're in, Jumbo Loans can start with a loan amount of $806,500 or at $1,209,750 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.

A Reverse Mortgage is perfect for anyone over the age of 55 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.

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.

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.

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.