try Wells Fargo-1st Bank-US Bank and don't leave out the various mortgage Brokers who are very competitive -
It is a known fact that a Bank will offer lower rates and more flexible terms by utilizing the Bank Portfolio and all of California is eligible.
Our office has had numerous "Professional" and â€œFirst Time Buyerâ€ clients contact a FREE referral service (no Realtor attached) at http://www.DoctorMortgageAlliance.com and pleasantly amazed at the programs available to given occupations, including First Time Buyerâ€™s with any occupation.
It is wise to build a strong banking relationship for other loan needs that you may have, starting with the mortgage is a huge step in building this alliance
DMA has placed clients with several different banks:
Bank of Ohio, BBVA-Compass , RBC, and Huntington to name a few.
If you are a practicing Physician MD, Resident, Dentist, Attorney you are eligible. Or even on your way to graduating from your med school you are eligible to apply for this special mortgage program.
First Time Home Buyerâ€™s also are included in a special program that offer 5% down, NO MI, and other cost saving features â€“ so to answer your question â€“ this program should prove to be of value.
Both programâ€™s offer mortgages with 5% down, NO MI, very low rates, 30/40/15 year fixed terms plus 5/1 and 7/1 arms, and low close costs. The program even allows the seller to pay ALL the closing costs.
Plus the Mortgage Officer's with the referred Banks have all been professional with vast experience.
So our advice is simply contact via the web site, or email firstname.lastname@example.org and a representative should make contact as they have with my clients.
Good luck with searching for your new home!
Should you be seeking a "Fit-In-the-Box Loan" there is no difference. Rates typically won't vary more than .0125% - If you are just shopping rated any will do.
Everyone is lending. Time from application-to-close varies.
Is this a purchase or refinance? Purchase transactions fund faster than refinances.
If you are seeking the lowest down payment- VA-0% down (maybe) - FHA- 3.5% - Fannie Freddie- 5% minimum.
If you are seeking an "out-of-the-box loan"- Portfolio & Private Money Lenders vary on down payment or equity position- Happy funding- Rudi
Yes--lending is driven by your debt to income ratio --You'll need 45% or better--
20% down is the primary threshold for the majority--some unusual circumstances are available for less--VA at 0 down--FHA at 1-3% is possible with MI--Regards--Jim--
And I look forward to finding out more about your requirements so we can work together on your financing and home purchase. Are you looking for permanent home or vacation spot and are you a US resident or from outside the country?
Also, the amount of down payment needed depends on those people and their circumstances.
Not meaning to be vague but the real answer is that