Member:
Executives Association of San Diego
Licensed by the CA Dept of Real Estate #01090117
If you are thinking about buying your first home or fifth home your first step is to get Pre-Approved. The Pre-Approval removes most of the stress from the finance end of the transaction. It allows you to focus on finding the right home and negotiating the best price. Sellers value buyers that are "Pre-Approved". We provide "Pre-Approvals" at no cost to our clients.
Purchase transactions can be structured a variety of ways depending on the needs of the borrowers.
Our mission is to help our clients determine which financing options best fit their unique circumstances by asking the right questions and educating our clients about the various options, and their benefits, cost and risks. There are hundreds of loan options available with features that most borrowers do not understand. We help our clients navigate the mortgage landscape.
See below some of the most popular current financing options:
Conforming FNMA & FHLMC: We provide Conventional loans up to $417,000 for a single family residence, condo or townhouse in San Diego County, California.
- Fixed Rate 30, 20 15 and 10 years loans.
- Adjustable rate loans.
- Interest only loans.
- Owner Occupied .
- Second homes.
- Investment properties (rentals). Single unit, duplex as well as 3 and 4-plex financing is available.
- 2-4 Unit properties have higher loan limits, call us for details.
Super-Conforming: Loan amounts in excess of $417,000 up to a "High Cost" area FNMA/FHLMC San Diego limit of $ $697,500. Some other higher cost area in California can go to $725,000. These loans have limitations not imposed on regular conforming loans. Call for details.
Jumbo Loans: Loans in excess of the FNMA & FHLMC are difficult to arrange. The Credit Crisis has greatly impacted this category. Most lenders avoid this business because of secondary market issues. Call us for details.
Interest Only: Interest only loans may be appropriate in some cases. We have interest only products that can reduce payments to allow homebuyers to get into their first home. Usually, the products are interest only for 3, 5, 7 or 10 years. Usually these loans then become adjustable rate loans. We also have a 30 year fixed rate loan that is interest only for the first 10 years and then amortizes fully over the last 20 years. We don't recommend these loans for everyone but in certain circumstances they are appropriate.
100% Financing: This financing has all but disappeared in the Credit Crisis. VA still offer options at 100%. FHA requires only 3.5% down. Call us for details.
Second trust deeds: Use for purchase, refinance or home equity. Lenders have pulled back on these loans. Currently available is severely restricted.
First Time Buyer Programs: Mortgage Credit Certificates are available for most areas in San Diego. Availability of funds depends on local housing agencies. Currently funds are not available.
VA Loan: The loan Limit for a 100% VA loan is $697,500 for San Diego County in 2009. 100% financing available for qualified veterans. Seller can pay all closing costs. If you are financing the VA funding fee the total loan can't exceed the loan limit.
FHA: The original low down payment, easy qualifying loan. Loans up to $697,500. FHA requires 3.5% down. The down payment may be a gift from a relative.
Other Loan products: Give us a call, if we don't have it, you don't need it.
Loans available in California Only