Question 1

USDA Loans

Accepted Answer

USDA loans are eligible in rural areas that have been guaranteed by the USDA. It was originally created for rural buyers who had financial limitations but has expanded beyond farmers becoming an option for people who want to enjoy countryside living. Benefits include 100% financing, meaning no down payment and flexible credit requirements. USDA also come with lower interest rates since this type of loan is guaranteed. 
 
https://www.youtube.com/watch?v=aWpp_Mlb8Ls

Question 2

Veteran (VA) Home Loan

Accepted Answer

VA home loans are for current or former military members and their families. Benefits include no down payment, little to no closing costs and no private mortgage insurance (PMI). Qualified applicants must not be dishonorably discharged and meet certain eligibilty requirements, which are detailed in the link below. You can use a VA loan for buying a home, refinancing, renovating or to cash-out. See if you are eligible to benefit from a VA loan today.
 
See if You Qualify >(https://primelendinglo.com/dynamic-website/va-home-loans-guide?j=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJuYmYiOjE2MjkxNTYyNzksImRhdGEiOnsidXNlcl9pZCI6IjM5MzQ3OSIsInNlbmRlcl9pZCI6IjM5MzQ3OSIsImxlbmRlcl9pZCI6IjM5MzQ3OSIsImNvbWFya2V0ZXJfaWQiOiIzOTM0NzkiLCJvcmdhbml6YXRpb25faWQiOiIyNDUiLCJwcmVmaXgiOiJcL1wvcmFwaWQudG90YWxleHBlcnQubmV0XC9keW5hbWljX3dlYnNpdGVzXC92YS1ndWlkZSIsInNpdGVfaWQiOiIyNzEifX0.06Q8yHEGlxBAfnZDXjTsUSl-ZN3YV3Mm1tq7IzgJGOo)
 
https://www.youtube.com/watch?v=VBTjYrXaHOM

Question 3

Jumbo Home Loans

Accepted Answer

Jumbo loans are mortgages with a loan amount that exceeds the standard “conforming” loan limits or guidelines. These loans are designed to help buyers who are interested in luxury homes and buyers of modest homes in markets with increased property values. Think buying the same home in California as opposed to Texas. These loans are important because average home prices vary widely across the United States. The limits are based on average home prices. Which means the "conforming" limit would be different in California than it would be in Texas.

Question 4

Adjustable Rate Mortgage

Accepted Answer

An ARM (adjustable-rate mortgage) is an alternative to a fixed-rate home loan that offers an “introductory” interest rate set lower than that for conventional loans. The loan proceeds at this rate for an agreed-upon period of time, usually several years. Once the introductory period expires, the interest rate “resets” – moves up or down in line with the movement of an “index” (currently the Secured Overnight Financing Rate (SOFR)). Following this movement, the amount of interest you pay each month gets larger or smaller. ARMs are great for borrowers who plan to move in a few years or expect more income in the future.

Loans as Unique as You Are.

LOAN TYPES

Purchase + Refinance

LOAN TYPES

Renovation

Found a home with good bones but it needs some updates? Want to freshen up your current space? With a renovation loan, you really can have your dream home.

FHA 203k

Pool Escrow

Energy Efficient

EZ "C"

HomeStyle®

Contact

(209) 402-7930

adam.carey@primelending.com

3 Pointe Drive, Suite 102
Brea, CA 92821

Links

Legal

Privacy Policy

Fair Lending

Loans as Unique as You Are.

LOAN TYPES

Purchase + Refinance

LOAN TYPES

Renovation

Found a home with good bones but it needs some updates? Want to freshen up your current space? With a renovation loan, you really can have your dream home.

FHA 203k

Pool Escrow

Energy Efficient

EZ "C"

HomeStyle®

Contact

(209) 402-7930 adam.carey@primelending.com 3 Pointe Drive, Suite 102 Brea, CA 92821

Links

Legal Privacy Policy Fair Lending

(209) 402-7930

adam.carey@primelending.com

3 Pointe Drive, Suite 102
Brea, CA 92821

Legal

Privacy Policy

Fair Lending