Christina Lujan and Jennifer Badillo

If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.

There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research to ensure you get the mortgage that best meets your needs at the best price.

FHA

        3.5% down payment – 640 fico (iMortgage –investor required)

           Streamline FHA 203-K

           Rehab and/or improvements to the home

           Self-Help Arrangements are allowed (must meet  

           requirements)

           Handicapped accessible

           Install of well and/or septic system and many more

VA

ZERO DOWN –disabled VET –funding fee may be waived.

CalHFA

         below market interest rate and down payment/closing costs

         assistance 620 FICO

         INCOME AND FAMILY SIZE RESTRICTIONS- primary

         home

         Requires 1% of buyer’s own funds –for down payment

FNMA Home Path

        Special financing is available for properties that are owned by    

        Fannie Mae and display the HomePath logo.

        Low down payment, no MI, no Appraisal – owner occupied,  

        2^nd home, investments and 2-4 units

        Better pricing at 5% down

Conventional

        PRIMARY - 5% down with a 660 FICO

        SECOND HOME – 10% down with a 720 FICO –single family -        detached

        INVESTMENTS