Loan product information
(All RATES AND TERMS ARE SUBJECT TO CHANGE WITHOUT NOTICE, SOME RESTRICTIONS MAY APPLY,
NOT ALL APPLICANTS WILL QUALIFY) 
 
FHA LOANS 
Are designed for first time home buyers with fico scores from 580 and higher. It requires only 3.5% down and to occupy the property as a primary residence. It does not require any seasoned reserves. FHA (Federal Housing Administration) loans are insured loans that come with upfront mortgage insurance. FHA loans are the only loans that will accept 100% gift funds from a close family member (mother, father, brother, sister), to assist in the down payment or closing cost or both. The loan is assumable and has the lowest rates. Most popular loan product for first time home buyers.
 
VA LOANS
Are designed for our military heroes and their spouses. It is a 100% financing loan that requires income and a minimum fico score of 580. It also requires two important documents: 1) DD214 and 2) Certificate of Eligibility. The VA loan is a guaranteed loan. Most VA loans have very little to no closing cost! 
 
CONVENTIONAL LOANS 
Are designed for all types of purchases, including investing, commercial, new developments.  It also has a first-time home buyer's product with 3 to 5% down, with a minimum fico score of 640. The rates are a little higher than FHA products and it requires (3) months reserves. Mortgage Insurance is required with down payments less than 20 %. Most popular loan for refinancing a loan with mortgage insurance to a loan without mortgage insurance, normally from an FHA loan to a Conventional loan.  
 
USDA LOANS 
Are agricultural loans for rural and suburban areas, farmland, only special areas qualify. These loans are 100% financed and must meet a minimum fico of 640.

FHA No Down Payment Program (CALHFA Myhome)
Are designed to help first time home buyers with their down payment or closing cost.  These No Down Payment Programs DO NOT come with favorable rates but they do cover your down payment or your closing cost, they DO NOT cover both! This program is FHA insured and follow FHA guidelines, minimum fico 660, Max 43 % DTI, 96.5 / 105 % LTV. Eligible properties are single family homes, condos, townhomes, manufactured homes.

HECM (REVERSE MORTGAGE)
Are designed specially for senior citizens 62 years and over.  It allows the senior to enjoy their home Equity by receiving all cash or monthly payments. Seniors never stop owning their home and can pass it on to their love ones.  For more information