Conventional Loans

The Conventional loans are more strict on credit profiles and guidelines. You may consider 3% down conventional from a minimum 620 fico score. Conventional financing conforming loan limits is up to $453,100 and up to $679,650 is conforming High Balance. The Jumbo is up to 3 million. We can raise your scores within 3-4 days in most cases to qualify for programs, rates and terms as necessary for our clients.
Conventional Loans also have a longer timeframe for BK and foreclosure/short sales as well. You will have to wait 4 years after a BK to qualify for conventional loans. You will have to wait 7 years after a foreclosure/short sale. There are special circumstances to shorten those timeframes.
*Portfolio* You may now qualify ONE DAY after a short sale, foreclosure or deed in lieu from 20% down payment and minimum 680 fico score.

FHA Loans

FHA on the other hand only has 2 years after a BK and 3 years after a foreclosure/short sale to qualify also with shorter time frames with special circumstance. The FHA rates are currently lower than Conventional. Inquire and we will go over the differences in payments, rates and terms to make an informed decision. Do not disqualify yourself and get pre-approved and out shopping for your dream home with our dream loans today.
*Standard FHA is 3.5% down, both have less-stringent credit qualifications and currently allows seller concessions of 6% of the purchase price as opposed to conventional financing which caps seller contributions for closing costs at 3% of the sales price with a 5% or less down payment. FHA 3.5% down is available with a minimum 580 fico score up to $453,100 and then requires a minimum 580 fico score up to High Balance Jumbo FHA loan limits per county.
Note we are only licensed in CA.
OTHER LOAN PROGRAMS:
FHA     Jumbo     USDA Rural     VA     CalVet     Refinance     DAP’s