Products


FHA

The Federal Housing Administration (FHA) was established as a division of the U.S. Department of Housing and Urban Development (HUD) in 1934 to expand national homeownership opportunities, increase minority homeownership, make the home buying process less complicated and expensive and keep existing homeowners from losing their homes. The FHA administers a variety of residential mortgage insurance programs. Additional programs include 203k, 203kS, HUD REOs, Indian Housing (Sec 184), Good Neighbor Next Door and Energy Efficient Mortgages.


VA

The Veterans Administration (VA) was established in 1930 when Congress authorized the President to "consolidate and coordinate government activities affecting war veterans." The Servicemens Readjustment Act of 1944 (known as 'the G.I. Bill') authorized the VA to administer a variety of benefit programs, including a home loan guaranty program, to facilitate the adjustment of returning veterans to civilian life. The Department of Veterans Affairs (VA) was established as a Cabinet-level position on March 15, 1989. The VA loan guaranty program encourages lenders to offer long-term, low-down-payment mortgages by protecting lenders against loss.


Conventional

Fannie Mae and Freddie Mac Fixed and ARM products.


USDA

The mission of USDA Rural Development's Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural homebuyers achieve their dream of homeownership. Rural Development partners with approved local lenders to extend 100% financing opportunities to eligible rural individuals and families. Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located.


Asset Based

Features:

  • Asset Depletion - asset depletion is used to offset ratio guidelines for borrowers with significant assets.
  • Pledged Assets - pledged assets are used in lieu of down payment, second mortgage or home equity loan.
  • Foreign Nationals - borrower not required to have Social Security Number, Green Card or VISA.
  • Vesting Title in Entities - title is allowed to be vested in Trusts, LLCs, Sub S Corporations, or Partnerships.


203K

The FHA Section 203(k) insurance program enables borrowers to finance the purchase or refinance of a home and the cost of its rehabilitation through a single mortgage. This program is used for large, complicated improvements such as major rehabilitation, remodeling, new construction such as a room addition, repairs to structural damage, or site amenity improvements.


203K-S

The Streamlined FHA 203(k) program is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required. This program comes with a total rehabilitation amount of $35,000. Examples of eligible improvements are listed below (this list is not all-inclusive):

Features:

  • Repair/Replacement of roofs, gutters, and downspouts
  • Repair/Replacement/Upgrade of existing heating, ventilation, and air conditioning systems
  • Repair/Replacement of plumbing and electrical systems
  • Repair/Replacement of flooring
  • Minor remodeling that does not involve structural repairs, such as kitchens
  • Exterior and interior painting
  • Weatherization, including storm windows and doors, insulation, and weather stripping
  • Purchase and installation of appliances, including free-standing ranges, refrigerators, washers and dryers, dishwashers, and microwaves


CHDAP

The California Homebuyer's Downpayment Assistance Program (CHDAP) is a deferred payment, simple interest rate junior loan of up to 3% of the sales price or appraised value of the property, whichever is less. CHDAP can be used for down payment assistance and/or closing costs with eligible CalHFA or non-CalHFA first mortgage loans.


Homepath

Fannie Mae, the agency sponsored by the U.S. government to help make housing more affordable to all Americans, offers HomePath, a special home loan to finance the sale of its current real-estate owned (REO) properties across the country.


SCHFA

Southern California Home Financing Authority (SCHFA) is a joint powers authority between Los Angeles and Orange Counties formed in June 1988 to issue tax-exempt mortgage revenue bonds for low- and moderate-income First-Time Homebuyers. To date, SCHFA has helped thousands of individuals and families fulfill their dreams of owning their own home through its First-Time Homebuyer Program. This program makes purchasing a home more affordable for qualifying homebuyers by offering below-market interest 30-year fixed rate loans




"All product information subject to change without notice. All loans subject to underwriter approval."