As a local direct California home mortgage lender, Golden State Mortgage has the flexibility to underwrite using common sense allowing for quick decisions and fast closings. Golden State Mortgage’s flexibility and efficiency is unavailable to traditional mortgage brokers as we control the transaction from application to funding. As consummate mortgage professionals, every Golden State employee from the top down is committed to providing excellent customer service throughout the entire loan process. Low rates, low fees, fast closings and superior customer service is our mission statement. Please contact us today to find out which California home loan type is right for you.
California fixed rate mortgage loans are the standard loan type for the majority of home financing, and are available in a variety of terms from 10 to 30 years. This loan type offers a consistent or “fixed” principal and interest payment throughout the life of the loan. Standard fixed rate terms are: 10, 15, 20, 25 or 30 years, although 15 and 30 are the most common. By choosing a shorter fixed rate option, you can realize a substantial savings in interest over the life of the loan.
Less Popular and typically used when the fixed rates are higher, adjustable rate mortgages (arms) are a great fit for home buyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible mortgage rate available. Adjustable rate mortgages are fixed for an initial period. After that, the interest rate will either go up, or down depending on market conditions of the index for the particular loan. All adjustable rate mortgages do have a max cap adjustment.
FHA home loans are a government insured loan type that has been helping borrowers since 1934. FHA home loans are a great option for first time home buyers, as credit standards are easier and FHA loans offer more flexibility with credit scores as low as 580 and a down payment as little as 3.5% down.
Golden State Mortgage specializes in VA home financing and has been serving us military since we opened our doors. As a direct mortgage banker, you will experience the benefits of having your VA loan underwritten, approved and closed all from our local California professionals.
For home mortgages with a loan amount exceeding (varies by county) conforming limits, Golden State Mortgage offers a variety of jumbo loan programs to fit your purchase or refinance needs. You can choose between a fixed or adjustable rate depending on your financing goals.
For rural properties a California USDA home mortgages could be the perfect fit for a home buyer. Offering 100% financing, with the ability to roll in closing costs and in some cases repairs, California USDA makes home ownership possible for many Californians.