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Multi-State Home Lending
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Call us at 949-333-2100 or 866-750-2885
Trusted by Over 1 Million Home Owners
Loan Programs
Conventional Home Loans
Loans that adhere to the guidelines set forth by Fannie Mae (from FNMA: Federal National Mortgage Association) and Freddie Mac (from FHLMC: Federal Home Loan Mortgage Corp), two corporations that purchase package, and sell loans that meet their conditions as securities to investors. These are referred to as “A” paper loans.
Jumbo Loans
A jumbo loan is a type of mortgage loan designed to finance loan amounts that are higher than the typical conforming loan limits which can vary depending on state and county. Jumbo Mortgages come in fixed and adjustable rate mortgages and can be used for primary homes, as well as for investment properties and vacation homes.
FHA Loans
The Federal Housing Administration (FHA) does not make the loans; it provides mortgage insurance which protects the lender. Although FHA loans have statutory limits, the qualifications are generally more liberal than those for conventional loans. They have lower down payment requirements (only 3 percent down), lower monthly insurance premiums, and often, lower closing costs which can also be financed.
VA Loans
Like the FHA loans, VA loans are only guaranteed by the U.S. Department of Veteran Affairs. VA loans also have easier eligibility requirements than conventional loans, often lower closing costs, and more liberal terms (usually no down payment is required) including negotiable interest rates. If you are eligible, the VA will issue a certificate of eligibility that you take to the lender when making an application for your loan. Lenders generally place a maximum limit on VA loans.
Manufactured Homes
Manufactured home financing on real property is unique and requires specialty processing. Multistate Home Lending has two decades of experience with manufactured homes. While many other companies have to learn as they go causing borrowers needless time and heartache, Multistate has a qualified team from the onset.