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VA HOME LOAN
- Must be an eligible Veteran
- -
0- down up to $417,000 (higher loan amounts available with a small down payment requirement) - Lender or seller may be able to assist with Veteran’s closing costs
- You can re-
use your VA eligibility once the previous loan is paid off - Best home loan on the market in my opinion
FHA HOME LOAN
- Only 3.5% down required (loan limits vary per County)
- Expanded qualifying guidelines
- Lender or seller may be able to assist with Buyer’s closing costs
- Great interest rates
- Popular loan for first time buyers
CONVENTIONAL HOME LOAN
- As little as 3% down (some restrictions apply)
- Available for Purchase, 2nd Homes or Investment Property
- Can avoid PMI without affecting interest rate chosen with 20% down
- Streamlined loan process
REVERSE MORTGAGE HOME LOAN
- Buy your retirement home and have NO monthly mortgage payments for the rest of your life
- Must be 62 years old or over
- Down payment is based on your age and will vary
FIRST TIME BUYER PROGRAMS
- Sapphire program (results in -
0- down as down payment provided by a grant from NHF)* - USDA Loan 100% Financing*
- CHDAP (results in .50% down payment)*
- MCC program (results in annual tax credit)*
*income restrictions apply and subject to availability
JUMBO LOANS
- Loan amounts up to $3 million
SPECIALTY LOANS
- Stated Income (Hard money loan -
Larger down payment required - Expect much higher interest rate) - ALTQM (bank statements can be used for qualifying income)
Home Loans for Purchase in California