Considering home financing can be overwhelming as there are many types of mortgages, refinancing and loan options available in the market of Bay Area, each with their own qualifications and terms. Whether you are a new home buyer looking for a first time mortgage or needing to refinance your home mortgage, we, mortgage experts at 5Star Lending, will work with you to find the best loan options in the Bay Area meeting your customized needs. We will make the process as simple and easy as possible with free up-front credit approvals and fast on-time closings.
Get in touch with 5Star Lending to discuss your home financing options.
Fixed Rate Loans
Fixed rate loans are one of the most popular home loan options in Bay Area. With this loan option, your interest rate and monthly payment will remain the same even if the market rate increases. What is best about this loan option is it offers the security of knowing what your mortgage expenses will be for the entire duration of the loan. At 5Star Lending, we provide a numbers of fixed rate loans including 10, 15, 20, 30 Year Fixed Rate Loans.
FHA loans are federally insured loans suitable for those who may struggle to qualify for traditional loans. As these loan options in Bay Area require little to no down payment and feature flexible terms, they are popular among first-time home buyers and those with less-than-perfect credit.
Home Improvement Loans
With home improvement loans, you can carry home remodeling or structural improvement to make your home get a new look and more value. Lenders will allow high loan-to-value loan so you can take out extra money for upgrades.
Sometimes, conventional loans are not sufficient to cover the financing for high-priced luxury homes. It is here where a Jumbo mortgage option can help you. It is a privately securitized mortgage with higher payouts. You can use this loan option to finance up to 85 percent of your new home.
Reverse mortgage is the loan option for those individuals who are 62 years of age and above. It helps them to convert the equity in their homes to monthly income or a line of credit. A senior citizen can use this loan option to purchase a retirement home.
Home Affordable Refinance Program (HARP)
Home Affordable Refinance Program (HARP) helps those homeowners take advantage of current low-interest rates who were previously unable to refinance due to loan-to-value guidelines.
VA loans are for active duty military personnel and veterans who qualify for special mortgage rates and housing programs. These loan options in Bay Area are federally insured by the United States Department of Veterans Affairs.
Call us to discuss your needs further.