 Home
Loans in California
At FindMyRate.com, you’ll find a variety of loans to choose from,
and we'll help you choose the right loan program specifically tailored
to your personal credit and financial situation that will enable you to
finance your dream home.
The Right California Home Loan at a Great Rate
We offer a wide range of home loan options on primary residences, second/vacation
homes, and investment properties. Please click on a loan program below
that interests you.
What California Home Loan Program Should I Choose?
There really isn't a single or simple answer to this question on how to
choose the best loan program for you and your family. The right type of
California home mortgage loan for you depends on many different factors,
which includes some of the following:
- Your current financial picture.
- How you expect your finances to change.
- How long you intend to keep your house.
- How comfortable you are with your mortgage payment changing.
For example, a 15-year fixed rate mortgage can save you many thousands
of dollars in interest payments over the life of the loan, but your monthly
payments will be higher. An adjustable rate mortgage may get you started
with a lower monthly payment than a fixed rate mortgage -- but your payments
could get higher when the interest rate changes.
The best way to find the "right" answer is to discuss your
finances, your short-term and long-term plans, your financial prospects,
and your preferences truthfully and honestly with a California home loan
mortgage expert from FindMyRate.com. We will help you make the right decision!
View our available California home loan programs below.
Financing Options
- Zero Down 100% Financing, 80/20
Mortgages - FindMyRate.com offers 100% programs for borrowers with
no money available for their down payment. In some cases, the closing
costs can be included in the loan amount and there is no mortgage insurance.
Loan programs such as 80/20 mortgages also available to avoid PMI.
- Stated Income Loans - Type of mortgage
where the lender verifies the source of the income but not the amount.
- Interest Only Mortgages
- A mortgage where the amount borrowed is not repaid until the end of
the term of the loan. Repayments consist of interest, fees and charges.
Our interest-only mortgage products are designed to give homeowners
and homebuyers lower monthly payments. For homebuyers, low interest-only
mortgage payments means lowered monthly payments and/or the ability
to purchase "more house".
- Fixed Rate Mortgages - Mortgages
in which the interest rate is set for the term of the loan.
- Adjustable Rate Mortgage
(ARM) Mortgages - Mortgage loans under which the interest rate is
periodically adjusted to more closely coincide with current rates. The
amounts and times of adjustment are agreed to at the inception of the
loan.
- FHA/VA Loans - Government insured/guaranteed
long-term, fixed-rate and adjustable loans for homeowners who qualify.
- Conforming Loans - Mortgage loans
up to $350,000. Conforming long-term, fixed-rate and adjustable loans
that meet Fannie Mae and Freddie Mac loan limits and property and borrower
guidelines. Conforming loans typically have higher loan limits than
FHA and VA loans.
- Reverse Mortgages - Allows borrowers
to retain ownership of their property and receive cash or a monthly
check representing a portion of the equity in the property. No money
is due until the property is sold, the owner dies or vacates the property
for 6 months, or an agreed upon date is reached.
- 0% Down Investment/Rental Properties
- FIndMyRate.com offers many loan programs to the investment buyer that
wants to put the least amount down. Typically these loan programs differ
from a conforming loan in that a slightly higher interest rate is charged.
A down payment of 10% is needed to qualify for conforming rates. Loan
to values to 90% with allowed seller concessions of up to 5%.
- 5% Down Primary or Second Home Purchase
- We offer a wide variety of loan programs for a primary purchase and
can even offer 5% down financing on a second homes for qualified borrowers.
Mortgage payment terms can be structured to the borrowers’ particular
needs that include 30, 20, 15 and 10 year fixed rates, ARM’s, and
many balloon programs.
- No Income Verification -
No-Income, No-Asset, No-Job Verification loans allow borrowers with
very good credit to secure a mortgage without proving income and in
some cases assets. This is especially helpful for self-employed individuals
or commissioned borrowers who write off large deductions to reduce their
income tax consequences. They also benefit those who can't or don't
want to prove where the down payment and closing costs are coming from.
These loans can be secured with as little as 5% down payment for those
who qualify based on credit history. Naturally these mortgage loans
come with a slightly higher interest rate due to the enormous amount
of risk the mortgage lender assumes.
- New Construction - FindMyRate.com
has the ideal home mortgage program for new construction -- our "Extended
Lock" mortgage. It´s available for conventional, FHA and
VA fixed-rate loans. We´ll lock in your interest rate for a maximum
of 180 days while your new home is being constructed. When your home
is completed, and it´s closing time, you´ll get the original
interest rate you locked in, even if interest rates have gone up since
then.
- Credit Problem Programs,
Subprime Mortgages - FindMyRate.com's skilled mortgage loan officers
believe that everyone is entitled to a second chance. There are many
loan programs that may be available to you, even if you do not meet
traditional approval guidelines. While the interest rates on these mortgage
loans are generally a little higher, our non-conforming mortgages provide
you with an opportunity to rebuild your credit, help you to consolidate
outstanding debts, make home improvements or provide you with additional
cash for whatever you may need!
- First Time Home Buyers -
FindMyRate.com understands the excitement and pressure that first time
homebuyers may go through. That is why we have trained mortgage professionals
to help you get the information and the home financing you need for
your first time home purchase.
- Pre-approval Programs - We have
special Pre-approval Programs that allow borrowers to assess how much
house they can afford, as well as get them the information and conditional
approval they will need to purchase a house. Our pre-approval process
is quick, accurate, and free. Pre-approval means that borrowers have
successfully qualified for the loan for which they have applied for
prior to having a property picked out. Having an approved loan application
means borrowers can begin the closing process on the house.
- Imperfect Credit Loans,
Bad Credit California Mortgages- Imperfect credit home mortgage
loans allow borrowers with less-than-perfect credit to qualify for competitive
interest rates to buy a home, consolidate debt, lower payments or make
home improvements.
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