Common Loan Programs

Conventional MORE INFO This type of loan can be either fixed or adjustable with a maximum loan amount of $322,700 for a single-family residence in California. FHA (Federal Housing Administration) MORE INFO Maximum loan amount varies by county. Click here to find out the maximum loan available in your county. The Federal Housing Administration, under the Department of Housing and Urban Development, insures FHA loans. This loan program is popular with many borrowers because typically only 3% down is required, and family and friends are permitted to contribute gift funds toward the down payment. VA (Veteran's Administration) MORE INFO Maximum loan amount varies by county. Click here to find out the maximum loan available in your county. The Veteran's Administration will insure loans offered by lenders to qualified members of the Armed Forces including veterans, active military personnel and reservists. Down Payment Assistance Programs MORE INFO Down Payment Assistance programs are designed for first time homebuyers and can be used with several types of financing. These programs provide financial assistance towards a buyer's down payment and closing costs. Jumbo Loans MORE INFO A loan with an amount over $322,700 with special terms used to purchase a property with a very high value. Fixed Rate Mortgages MORE INFO The interest rate on this type of mortgage stays the same for as long as you hold your mortgage, no matter how the current interest rate changes. With a fixed rate mortgage, your monthly principal and interest payments remain the same throughout the length of your loan. Most fixed rate loans are for 15 or 30 year mortgages. Adjustable Rate Mortgage (ARM) MORE INFO The interest on an adjustable rate mortgage can vary up or down throughout the length of the loan. The initial term of this loan can be fixed for a set period of time and the adjusted according to the terms of the loan. Adjustable rates are based on different indices such as the 1-month LIBOR, the 1-year T Bill, the Prime Rate and more. These are just a few of the many loans and options available. Your Verdeo Funding Loan Consultant can review these, and many more options, to help you end up with the best loan possible to satisfy your needs.