| Loan Program |
Loan Range |
Criteria |
Is This a good Loan For Me? |
|
100% Financing Available! |
100,000 -
650,000 |
No bankruptcy in the past 2 years. Commonly structured as an 80% 1st and 20% second--
Could be one loan up to $375,000--
Up to 50% debt-to-income ratio
|
Great loan! Can be first-time buyer or previous owner. No Mortgage Insurance, all interest is tax-deductible |
Conforming Loan
10, 15, 20, 25, 30 & 40-year loans |
75,000 - 417,000 |
This is the loan program that Fannie Mae and Freddie Mac insure |
If you have good credit (min. 620 FICO score. ) Rates are most competitive, requires full documentation (generally employment, banks, credit)
|
Easy Qualifier
(Also called stated income)
|
75,000 - 1.0 Mil |
Low documentation needed --just name, and credit history. No income, no assets verification. 6 most PITI required in reserves, under 80% LTV
|
Self-employed, just changed industries, new jobs (less than 2 years in industry). Rates depend on credit score. |
| Jumbo Loans |
417,000-
1.5 Mil |
Higher end properties, executive and estates. Owner occupied second homes, primary residences. Full documentation
|
Some stated income programs also available. 700+ FICO score may have enhanced prcing |
Jumbo-Jumbo
|
1.5 - 4 Mil
|
Same as Jumbo.
|
|
| Intermediate Adjustable Rate (Conforming)
NOTE:
Interest Only Loans Available Too !
|
75,000 -417,000
Also avail. for Jumbo Loans
up to 1.2 Mil |
Fixed for 3, 5, 7 & 10 years, usually tied to 1-yr T-Bill |
Some stated income programs. Good if you do not plan to be in home 3 - 7 years, or if you expect your financial profile to change in 3 - 7 year (i.e., raises, new career, etc.) |
| Construction to Permanent |
Up to 2 million |
One loan - one escrow & title fee. Loan is appraised based on completed project. |
Ideal for building a home, including acquiring the property, or for a major remodel of existing home.
|
Conforming
FHA / VA |
loans up to: FHA loans: 280,749 + MIP.
VA loans: 203,000 + MIP
|
(Loan limits for Napa, Vallejo & Fairfield areas)
FHA is up to 4 units owner/occ
VA is SFR only, owner occ.
|
Lower acquisition costs, challenged credit. On FHA multi units, will consider 90% of rents in qualifying for loan amount. |
| Purchase and Rehab Loan |
call for loan limits and pricing |
Owner occupied, minimum amount down 10%, must have certified appraiser and licensed contractor
|
Used for acquiring property and funding improvements or rehab in one loan. Appraisal is based on improved property. |
| Freddie Mac |
Max loan 417,000
|
Up to 90% loan to value |
Second homes and non-owner occupied loans to 90% |
