Loan Programs & Options
Learn Mortgage Terms and Rate Options
Get The Financing You Need for Your Dream Property
Are you looking to buy your dream property but need financial assistance?
Our Real Estate Loan Program is here to help. Whether you're a first-time homebuyer, an investor, or someone looking to refinance, we have tailored loan options to suit your needs. With competitive interest rates and flexible terms, we make it easier for you to turn your real estate aspirations into reality.
Which Mortgage is Right for You?
There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.
Are you in the market for a new home and unsure of what type of mortgage loan program is right for you? With so many options available, it can be overwhelming to navigate through the various choices. Let's break down some of the different mortgage loan programs to help you make an informed decision.
It's important to carefully consider your financial situation and long-term goals when choosing a mortgage loan program. Consulting with a qualified mortgage lender can help you determine which program is the best fit for your needs. Remember, selecting the right mortgage loan program can make a significant impact on your overall financial well-being.
FHA Loans
Another option is an FHA loan, which is insured by the Federal Housing Administration. These loans are popular among first-time homebuyers because they require a lower down payment and have more lenient credit score requirements. loans are mortgages guaranteed by the Federal Housing Administration. The requirements necessary to get an FHA loan typically include: A credit score of 580 or higher (less than 580, but no less than 500 would require at least a 10% down payment) No history of bankruptcy in the last two years. No history of foreclosure in the past three years. Learn More
Conventional Loans
One of the most common types of mortgage loan programs is the conventional loan. These loans are not insured by the government and typically require a higher credit score and a larger down payment. However, they often have more flexible terms and lower interest rates compared to government-backed loans.
conventional loan is a mortgage loan that is not guaranteed or insured by the government, but instead by a private lender or government-sponsored enterprise.
Conventional loans are also known as conforming loans
ALL IN ONE LOAN
No other mortgage product does more to lower costs and maximize the benefits of homeownership.
What Is It?
It is a 30-year HELOC with an integrated sweep-checking account. In other words, it combines your home financing and personal banking needs into one dynamic tool..
VA Loans
VA loans are also available for veterans and active-duty military members, offering competitive interest rates and no down payment requirement. loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ..VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no ...
HELOC - Home Equity Line Of Credit
A home equity line of credit, also known as a HELOC, is
a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans such as credit cards.
USDA Loans
For those looking to purchase a rural property, a USDA loan may be the best option. These loans are backed by the United States Department of Agriculture and offer low-interest rates and zero down payment requirements for eligible borrowers. you're looking to buy a home in a rural or suburban area with no down payment and minimal investment, you might consider the USDA Rural Development Loan.
Construction Loans
If you are interested in buying a home that needs some renovations, you may want to consider an FHA 203(k) loan. This program allows you to finance both the purchase price of the home and the cost of repairs or renovations in one loan. loans are loans that fund the building of a residential home (aka a
stick-built house), from the land purchase to the finished structure. Common types are a standalone construction loan — a short-term loan (generally with a year-long term) — which only finances the building phase, and a construction-to-permanent loan, which converts into a mortgage once the construction is done. Borrowers who take out a standalone construction loan often get a separate mortgage to pay it off when the principal falls due.
Reverse Loans
A Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, is a special type of home loan only for homeowners who are 62 and older. A reverse mortgage loan, like a traditional mortgage, allows
Jumbo Loans
Lastly, jumbo loans are available for borrowers who need to finance a higher-priced home. These loans exceed the conforming loan limits set by Fannie Mae and Freddie Mac and typically require a larger down payment and higher credit score. jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $548,250 in...ime.
Fixed Rate
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.
Adjustable Rate
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-i...
Temporary Buy Down
Interest Only
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
Graduated Payments
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...time.
About Us
We've been helping customers afford the home of their dreams for many years and we love what we do.
Licensed in:
California NMLS# 02066654 | 60DBO-154093
Georgia & Texas NMLS#1767407
Florida NMLS#MBR5826
Contact Us
Main Office
3242 E. Coast Highway
Corona Del Mar, CA 92625
Disclaimers
Resources
Spot On Lending (“Inc.”), is an Equal Housing Opportunity Lender.
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