Conventional or FHA

The CA Conventional loan programs have  more strict credit and underwriting guidelines.You may consider 3% down from a minimum 620 fico score. The CA conventional financing conforming loan limit is $453,100 and the high balance loan limit is up to $679,650 we also have Jumbo options up to 3 million.
Conventional loans
CA Conventional loans also have a longer seasoning time frame for BK and foreclosure/short sales as well. You
will have to wait 4 years after a BK to qualify for a CA conventional loan. You will have to wait 7 years after a foreclosure/short sale. However, there are special circumstances to shorten those time frames.
*Portfolio* You may now qualify ONE DAY after a short sale, foreclosure or deed in lieu. You will need from 20% down payment and minimum 660 fico score.

FHA loans

FHA on the other hand only has a 2 year seasoning requirement after a BK and 3 years after a foreclosure/short sale to qualify. Also with shorter time frames with special circumstance.
*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 loan 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 as well as a minimum 580 fico score for High Balance FHA loan limits (per county).
Note we are only licensed in CA.
We will go over your documentation, loan program choices and let you know what options you have available to make an informed decision. You may qualify to buy and pay less than rent with down payment and closing cost assistance programs. Once you know what your loan program choices are you can make an informed decision.     Fannie Mae loan limits
We now lend in 30 states, Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, South Carolina, Tennessee, Texas, Virginia, Washington and Wisconsin.
OTHER LOAN PROGRAMS:
FHA     Jumbo     USDA Rural     VA     CalVet     Refinance     DAP’s

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Verification

Pre-Approval loan application for loan processing

 

Verification