These programs make it easier for first­-time buyers to save for a down payment and qualify for a loan. Down payment requirements can be as little as 1% of the purchase price. FHA first mortgages require a 3.5% down payment. First-­time buyer programs are available as fixed­-rate, 15­, 20­ and 30­year mortgages. If you’re looking to buy your first home, give us a call –we’ll let you know whether this program is right for you. We’ll also get you pre­-approved, which identifies your purchasing power and helps you move quickly once you find that perfect house.

BENEFITS

Down payment as low as 1%.
Less income required to qualify, but FICO must be at least 620.
We also have down payment assistance programs for first time home buyers in Sacramento

Do you have an FHA loan that you want to refinance? The FHA streamline refinance lets you reduce the interest rate on your current home quickly, with less paperwork. No appraisal is required. Instead, you can use your home’s purchase price as the current value, regardless of the home’s current market value. Even if you are “underwater,” you can still refinance with this program.
The loan purpose must show a “Net Tangible Benefit,” such as refinancing from an ARM to a fixed mortgage or reducing the principal, interest and mortgage insurance component of the mortgage by 5% or more. Cash­out to pay bills does not qualify. You must have a 12­month history of on­time mortgage payments to qualify. And finally, the original loan must be an FHA loan – conventional loans owned by Fannie or Freddie do not qualify.

BENEFITS

Lower rates and payments with less paperwork.
No appraisal required.
No verification of income, but must be employed.
No credit score verification.

Purchase or Refinance

Loans with no cost upfront let you buy a home or refinance without paying costs at closing. These loans can be made for purchases, but they are most popular for refinances. No points or fees are paid at closing, although you do have to pay for an appraisal.If you’re refinancing, and you can get a lower rate than your current rate for no cost (other than your appraisal), why wouldn’t you? We also have a couple mortgage lenders in Sacramento that do not require an appraisal if you have 20% equity or more and a good credit score.

We also have many loan programs for real estate investors. We have one lender that will approve your loan as long as the rents are more than the proposed mortgage payment. They do not require tax returns, bank statements or many of the other documents that conventional lenders require when getting an investor type of loan