Offering Loan Options to Fit Your Needs
I understand the importance of having options, especially when it comes to home financing. With my knowledge and experience in a variety of loan programs, I can help you obtain the loan that achieves your financial goals, and suits your lifestyle.
Loan product offerings include:
What are Adjustable Rate Mortgages?
With one of our Adjustable Rate Mortgages, you have the flexibility of a lower rate and payment for a fixed term of 3, 5, 7 or 10 year fixed term. Adjustable Rate Mortgages, or ARMs, typically offer lower initial interest rates than Fixed Rate Mortgages. These adjustable mortgage loans allow you to keep your payments low and save money.
What are Fixed Rate Mortgages?
Enjoy peace of mind with a low monthly mortgage payment that will never change. If you want the security of knowing what your home loan payment will be each month, a Fixed Rate Mortgage – one of the most popular types of mortgages – may be right for you. Unlike adjustable rate mortgages, where rates change depending on market conditions, fixed rate mortgages feature interest rates that stay consistent throughout the lifetime of the loan. That means you will never have to worry about your monthly payment going up, and you can manage your budget without surprises.
What is an FHA Loan?
These are federally insured loans that offer financing to people who may struggle to qualify for traditional loans. Typically, FHA Loans require little to no down payment, and feature flexible terms, making them popular among first-time home buyers and those with less-than perfect credit.
What is a Conventional Loan?
A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. If you have relatively good credit and some money to place as a down payment, the Conventional loan is usually your best choice. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate
What are Home Improvement Loans?
Upgrade, improve, or even remodel with a Home Improvement Loan. These loans allow your mortgage balance to exceed the purchase price or appraised value of the home, so you can take out extra money for upgrades.
Instead of buying a new house, many homeowners are choosing to upgrade and remodel their current homes. Home improvement loans give you the means to increase the value of the property and allow you to customize your home from top to bottom. However, these upgrades are expensive and often require upfront cash.
One solution is to get a home improvement loan such as the FHA 203k Home Improvement Loan. This loan allows you to refinance your home mortgage for more than it’s worth and use the difference on home improvement projects.
What is a Jumbo Loan?
Sometimes traditional loans aren’t enough to buy the home you really want. New American Funding can help you finance the purchase of a high-priced home or refinance your current loan with our line of Jumbo and Super Jumbo Loans. A Jumbo Mortgage is a privately securitized mortgage with higher payouts that can be used to finance up to 89 percent of your new home.
What is a Reverse Mortgage?
Seniors aged 62 and over are able convert the equity in their homes to monthly income or a line of credit. Reverse Mortgages are designed to help older homeowners manage their retirement finances by allowing borrowers to convert a portion of their home equity into liquid assets.
What are VA Loans?
Active duty military personnel and veterans can qualify for special mortgage rates and housing programs that are federally insured by the United States Department of Veterans Affairs. New American Funding is dedicated to helping our military veterans find the best home financing options available. Designed to help active duty military and veterans qualify for homeownership, VA Home Loans are guaranteed by the U.S. Department of Veteran Affairs and feature easy home financing options. Because VA loans are government insured, they offer veterans and military personnel lower interest rates and better terms than conventional mortgages.
The Home Affordable Refinance Program HARP 2.0
Underwater homeowners are able to refinance and save money on their mortgage every month with HARP 2.0 Home Loans. This program is known as the Making Home Affordable program, it was created to offer homeowners a chance to refinance without paying private mortgage insurance, but not to avoid foreclosure. The program is available for investment properites, condominiums and vacation home refinancing.
Down Payment Assistance
CalHFA reinstated the California Homebuyer’s Downpayment Assistance Program (CHDAP), a homebuyer grant intended for low-to-moderate income homebuyers. CHDAP provides a secondary loan of up to 3% of the home price that can be used to assist with a down payment or closing costs on the house.