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EVERY MORTGAGE LOAN IN THE BOOK
JUMBO LOAN
If you have heard of “jumbo loans,” you might be wondering what exactly is a jumbo loan? Whereas traditional mortgage loans have limits per county, jumbo loans can greatly exceed the county limits. Jumbo loans are a powerful tool for high-net-worth individuals and/or well-qualified borrowers to obtain alternative financing where traditional lenders say “no,” by qualifying based on credit, income, and assets.
STATED INCOME LOAN
A Stated Income Loan allows self-employed borrowers to qualify based on the amount of deposits into their bank account, where the cash flow is sufficient to cover the new mortgage payment and all other debts. Stated income loans were created for self employed buyers and homeowners that do not qualify for a home loan due to the low income on their tax returns.
BRIDGE LOAN
Hard money loans are an alternative to traditional bank lending that allows flexibility and expediency. Hard money lenders and hard money loans are not required to conform to the same guidelines as traditional financing, such as the standardized Fannie Mae and Freddie Mac underwriting guidelines for loans to be repackaged and sold on Wall Street. Put simply, a hard money loan is a loan that is secured by a “hard” asset – i.e., real property.
FIX AND FLIP LOAN
Fix-n-flips are a classic situation in which a hard money loan makes financial sense. In these situations, the loan is based on the after-renovated value. Once the property is finished being rehabbed, and realizes its full income-producing capacity (“stabilized”), the hard money loan can be paid off in 1 of 2 ways: sell the property, or refinance with a traditional lender now that the as-is value supports the loan.
DEBT SERVICE COVERAGE RATIO LOAN
Sometimes called “Investment property loans” or “rental loans,” no tax return investment property loans do not consider a borrower’s income in the traditional sense. The “cash flow” is just the monthly rental amount the property brings in. For example, a property renting for $2,000/month would be attributed a qualifying income of $2,000/month. The main requirement for these investment property loans is that the monthly rents cover the monthly expenses.
HOME LOAN
If you’re looking to purchase a home using the best California home loans, you will probably need to finance that home. Or if you already own a home you may want to refinance your current home loan to get a better rate, or to pull equity (cash) out of your home to renovate your kitchen. California home loans fall into 2 major categories: (1) Owner-occupied, and (2) Investment (non-owner occupied). There are many similarities between the two, but also some key differences
VA LOAN
FHA loans are government-backed through the Federal Housing Administration (FHA). They also allow for the smallest down payment of all loans, 3-3.5% or even no down payment when utilizing a down payment assistance program. While VA loans are government-backed loans through the US Department of Veteran’s Affairs (VA), and offer incredible rates and terms to veterans, active-duty military, reservists, and unmarried surviving spouses.
FHA LOAN
FHA loans are government-backed through the Federal Housing Administration (FHA). They also allow for the smallest down payment of all loans, 3-3.5% or even no down payment when utilizing a down payment assistance program. While VA loans are government-backed loans through the US Department of Veteran’s Affairs (VA), and offer incredible rates and terms to veterans, active-duty military, reservists, and unmarried surviving spouses.
LOT & LAND LOAN
Valor Lending offers an incredible array of Land Loans, Lot Loans & Construction Loans. Including Custom Homes, Spec Homes, Commercial Buildings of any type; Apartment Buildings, Office Buildings, Mixed Use Buildings, Self Storage Facilities, Medical Buildings, Hospitals, Industrial Buildings and many more
CONSTRUCTION LOAN
Top Ground Up Construction Loans. Are you looking to build you forever dream home? Where do you start? Let Valor Lending Group guide you thought the process to ensure the right loan for you. Valor Lending Group features the very Best California Ground Up Construction Loans. Whether you are seeking to build a custom home for your primary residence, a spec home to sell for a profit, or a commercial construction loan.
COMMERCIAL LOAN
Finding the Best Commercial Mortgage Loan is in an entirely different category than residential lending. Commercial property loans are often vastly different than loans for residential properties. Although they both pertain to real property, and sometimes even income-producing property on the 1-4 unit residential side, commercial loans are simply more complicated than residential loans.
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Our own Stephan Prescher explains the benefits of buying and flipping a home.
