Loma Linda Mortgage Loans & Home Financing Solutions

We offer over 25 loan types including Conventional, FHA, VA, USDA, Jumbo, and specialty programs. Options include Bank Statement Loans, DSCR Loans, and Bridge Loans. Rates vary by borrower profile and market conditions.

You need acceptable credit, verifiable income, and sufficient down payment. Minimum requirements vary by loan type. We help you understand what qualifies you for the best rates.

Down payments start as low as 0% for VA and USDA loans. FHA loans require 3.5% down. Conventional loans typically need 3-20% depending on the program.

FHA loans accept scores as low as 580. Conventional loans typically require 620 or higher. Better credit scores unlock lower interest rates and better terms.

Yes, we offer Bank Statement Loans, 1099 Loans, and Profit & Loss Statement Loans. These programs use alternative income documentation. Self-employed borrowers have multiple financing options available.

Closing costs typically range from 2-5% of the loan amount. They include lender fees, title insurance, appraisal, and escrow charges. We provide detailed estimates upfront.

Yes, ITIN Loans are available for borrowers without Social Security numbers. These loans help non-citizens purchase homes in Loma Linda. Documentation requirements differ from traditional mortgages.

FHA loans are government-insured mortgages with lower down payments and flexible credit requirements. They're ideal for first-time buyers. Mortgage insurance is required throughout the loan term.

No, eligible veterans and service members can finance 100% of the home's value. VA loans don't require mortgage insurance. A VA funding fee typically applies but can be financed.

Jumbo loans exceed conforming loan limits set by federal agencies. They finance higher-priced properties in Loma Linda. Stricter credit and reserve requirements typically apply.

Conventional loans aren't government-insured and follow Fannie Mae or Freddie Mac guidelines. Down payments range from 3-20%. They offer competitive rates for qualified borrowers.

DSCR loans qualify based on rental property income, not personal income. They're ideal for real estate investors. Approval depends on the property's cash flow potential.

Yes, Bank Statement loans use 12-24 months of bank deposits to verify income. They're perfect for self-employed borrowers without tax returns. Rates vary by borrower profile and market conditions.

USDA loans offer 100% financing for eligible rural and suburban properties. They require no down payment for qualified buyers. Income limits apply based on household size and location.

Bridge loans provide short-term financing between buying and selling properties. They help you purchase before your current home sells. Terms typically last 6-12 months.

A HELOC lets you borrow against your home's equity as needed. It works like a credit card with a revolving balance. Interest rates are typically variable.

Fixed rates stay the same for the loan term, providing payment stability. ARMs start lower but can adjust periodically. Your choice depends on how long you'll keep the home.

Bring pay stubs, tax returns, bank statements, and identification. Self-employed borrowers may need additional business documentation. We'll provide a complete checklist when you apply.

Pre-approval typically takes 1-3 days with complete documentation. Full approval and closing usually take 30-45 days. Timeline varies based on loan type and complexity.

Yes, pre-approval shows sellers you're a serious buyer with verified financing. It strengthens your offer in competitive situations. The process takes just a few days.

Interest-Only loans let you pay just interest for an initial period. Monthly payments are lower at first, then increase later. They suit borrowers expecting income growth.

Yes, FHA and Conventional 97 loans offer low down payments. Some programs provide down payment assistance. We'll help identify programs you qualify for.

Foreign National loans help non-U.S. citizens purchase property in Loma Linda. They don't require U.S. credit history or Social Security numbers. Larger down payments typically apply.

Hard Money loans are short-term, asset-based financing for investors and fix-and-flip projects. Approval focuses on property value, not credit. Interest rates are higher than conventional loans.

Yes, refinancing can lower your rate, reduce payments, or access equity. We offer cash-out and rate-and-term refinancing. Rates vary by borrower profile and market conditions.

PMI protects lenders when down payments are below 20% on conventional loans. It adds to monthly payments until you reach 20% equity. FHA and VA loans have different insurance requirements.

Lenders typically allow housing costs up to 28% of gross monthly income. Total debt shouldn't exceed 43% of income. We'll calculate your specific buying power during pre-approval.

Asset Depletion loans qualify borrowers based on investment and savings accounts. They divide assets by loan term to calculate qualifying income. Ideal for retirees with substantial savings.

Yes, Construction loans finance building new homes or major renovations. They typically convert to permanent mortgages after construction completes. Draw schedules release funds as work progresses.

Reverse Mortgages let homeowners 62+ convert equity into income without monthly payments. Loan becomes due when you move or pass away. Home must be your primary residence.

Yes, we offer Investor Loans, DSCR Loans, and Portfolio ARMs for rental properties. These programs allow multiple properties. Qualification focuses on investment property performance.

Broker fees vary by loan type and complexity but are fully disclosed upfront. Many loans have no direct broker fees to borrowers. We're compensated by lenders in most cases.

Portfolio ARMs are held by individual lenders rather than sold to agencies. They offer flexible underwriting and unique terms. Rates adjust based on market indexes after initial fixed periods.

Community Mortgages consider non-traditional credit factors like rent and utility payment history. They help borrowers with limited credit histories qualify. Down payment and income requirements still apply.

Paying points upfront reduces your interest rate and monthly payment. It makes sense if you'll keep the loan long enough to recoup costs. We'll calculate your break-even point.

We'll review denial reasons and create an action plan to improve your application. Many denials are fixable with time and adjustments. Alternative loan programs may also be available.

Yes, rate locks protect you from increases during the loan process. Lock periods typically range from 30-60 days. Rates vary by borrower profile and market conditions.

Equity Appreciation loans provide financing where the lender shares in future property value increases. They offer favorable initial terms in exchange for appreciation participation. Best for unique situations.

Brokers access multiple lenders and programs, finding your best options. We handle paperwork and negotiate on your behalf. Our service often costs the same as going directly to a bank.

Rates depend on your credit profile, loan type, and market conditions. Strong applications qualify for better pricing. We shop multiple lenders to secure your best available rate.