FHA LOANS - Are designed for first time home buyers with fico scores from 580 and higher. It requires only 3.5% down and do 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 within all 30 year fixed loan programs. 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 and only requires income and minimum fico score of 640. It requires two important documents: 1) DD214 and 2) Certificate of Eligibility. The VA loan is guaranteed 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 5% down, a minimum fico score of 660  and mortgage insurance. The rates are a little higher then FHA products and it requires (3) months reserves. Mortgage Insurance is required with LTV's more then 80% but not required if LTV's are less then 80%. 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 660.


FHA No Down Payment Program (CALHFA Myhome)- Is designed to help first time home buyers with their down payment or closing cost.  The 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. The program does not require reserves BUT does require to show the ability to cover the down payment, even if down payment funds will not be used.  Eligible properties are single family homes, condos, townhomes, manufactured homes.  

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