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California Lending
1-626-255-4939

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SMART MORTGAGE PLAN

Our Job is to Locate the Best Mortgage Programs available to You.  We are an experience Top Rated group of Professionals with over 18 Years in the Industry.  Our Company is Family Founded and Operated and we Treat every Client and Referral as our own. 

 

Whether you're buying a home or considering a mortgage refinance, you can start your application for a home loan here and get a free consultation.  We have a strategic partnership with local area expert Realtors and other industry professionals to make your experience excellent.

 

Recognised as a Community Mortgage Lender

 

a California Mortgage Lender.

 

 

 

MORTGAGE PROGRAMS

FHA - Federal Housing Administration

What is the Federal Housing Administration?

 

The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.

 

What is FHA Mortgage Insurance?

FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner's default. Loans must meet certain requirements established by FHA to qualify for insurance.

 

Why does FHA Mortgage Insurance exist?

All Loan Terms (Greater than 15 years and less than or equal to 15 years):

LTV greater than 90%
Annual MIP will be collected until the end of the loan term, or 30 years, whichever occurs first.

LTV less than or equal to 90%
Annual MIP will be collected until the end of the loan term, or 11 years, whichever occurs first.

You also have to pay the 1.75% for any amount of loan at all LTVs.

 

 

 

 

VA 

VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.

 

Eligibility Requirements

Your length of service or service commitment, duty status and character of service determine your eligibility for specific home loan benefits.

Purchase Loans and Cash-Out Refinance: VA-guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (for active duty service members). To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE)

 

CONVENTIONAL

Conventional loans are typically offered by banks and credit unions and usually require a down payment of 20 percent of the home purchase price. Buyers can obtain a conventional loan with a down payment of less than 20 percent, but qualifications are much stricter. Although a conventional loan may have tougher credit requirements than FHA loans, if you are in a position to use one, you might find that interest rates are lower.  We offer programs with 3% down and 5% down.

 

 

 

 

CITY.COUNTY.STATE DOWN PAYMENT ASSISTANCE PROGRAMS

What documents should I have ready when contacting a loan officer?
When initially contacting a loan officer, you may want to have this list of documents and information available to help answer questions that they will ask you:

 

  • Pay stubs

  • Previous tax returns

  • Bank statements

  • Employment history