California Home Loan Lenders | Valor Lending Group
At Valor Lending Group, we have you covered, we work with the best California home loan lenders in the industry! Conventional conforming loans, as well as other full document financing solutions are still the best California home loans around and still surging forward with the best rates in years.
We have searched out the best lenders in the industry to give you the most and best priced options in the industry. There are a number of full document financing solutions for purchase, refinance and cash out including: Conventional and high balance, Jumbo and VA.
Conventional Conforming to high balance:
Firstly, the federal Government does not insure a conventional mortgage. To put it in simple terms, a conforming loan is a loan that has a loan amount under the maximum county loan limit. The loan limit is set by Fannie Mae or Freddie Mac.
there is a PMI or private mortgage insurance paid by the borrower with their monthly payment unless a minimum of a 20% down payment is provided on the real estate purchase.
Pros:
- Borrowers can use these programs for a primary residence, second home or investment property
- PMI is canceled at 80% of the value
- 3% down payment required
Cons:
- Requires at least a 620 FICO
- PMI is required with down payment less than 20%
- Full income documentation is required Such as 2 year tax returns, W-2s, 1099s, most recent 30 day pay-stubs, etc.
Borrower type:
Finally, A conventional or high balance loan is perfect for the borrower that has a consistent income, good credit and a down payment of at least 3%.
Jumbo loans:
Jumbo loans fall under the same guidelines as conforming and high balance loans but are above the county loan limits set by Fannie Mae and Freddie Mac.
Pros
- You can shop for loans in high cost areas that don’t qualify for conforming financing
- The rates are comparable to conforming rates.
Cons
- Requires at least 10% down
- Requires at least a 650 FICO
Borrower type:
Jumbo loans are perfect for the high income and strong asset borrower that is looking to buy a home in the luxury or high end markets.
VA Loan:
Firstly, the VA loan is a government guaranteed loan programs available to Veterans, active duty military, reservists and surviving spouses.
Secondly, VA Mortgages offer financing up to 100% of the reasonable value of the property and they feature both fixed and adjustable rate loans with NO down payment up to $1,500,000.00.
Finally, Valor Lending Group offers 5% of their commission to go towards a veteran charity of your choice. In addition, we reimburse you for the appraisal cost for loans over $300,000!
Eligible Borrowers:
VA loans were developed as an additional service to the men and women who serve our country. Firstly, a buyer must have sufficient entitlement available with VA and be a(n):
- Veteran (single or married)
- Veteran and non-Veteran spouse
- Two Veterans-married or unmarried
- Unmarried surviving spouse of an eligible Veteran (certain restrictions apply)
Features of a VA Loan:
- 100% financing
- Sellers can pay closing costs, up to 2 discount points, the prepaids Plus an additional 4%. This can be used to pay off debts, buydowns, etc.
- Buyers can add up to $6,000 to their VA loan to have energy efficient improvements installed
- No monthly mortgage insurance
- Less restrictive qualifying terms
- Buyers still eligible even after a short sale
- Jumbo loans available up to $1.5 million
- Buyers can have multiple VA loans under certain circumstances.
Borrower type:
Finally, VA Mortgages can often be the best mortgage option for eligible buyers who:
- Are first-time home buyers
- May have lower credit scores
- Only limited funds to close
- Have higher debt ratios
- Want very competitive Jumbo mortgages with NO DOWN PAYMENT Requirements.
If you would like us to get you a quote from one of the best California Home Loan Lenders, please reach out to me and I will be happy to assist with your financing needs.
Recap of our Loan Products:
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo Loans up to $1.5mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We also offer:
- Conventional Conforming Loans
- High Balance Conforming
- Jumbo Loan Financing to $10 Million / 10% down Jumbo to $3mm
- FHA, USDA
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
WE OFFER EVERY MORTGAGE LOAN IN THE BOOK!
**Rates and terms subject to change without notice
We are never too busy for your referrals.
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