Your Complete Guide to Mortgages in Redlands, California

We offer over 25 loan types including Conventional, FHA, VA, USDA, Jumbo, and specialized programs. Options range from standard fixed-rate mortgages to investor-focused solutions. Rates vary by borrower profile and market conditions.

You'll need stable income, acceptable credit, and funds for down payment and closing costs. Minimum requirements vary by loan type. We review your complete financial profile to find the best match.

FHA loans may accept scores as low as 580. Conventional loans typically require 620 or higher. Better scores unlock lower rates and more options.

Down payments range from 0% for VA and USDA loans to 3% for some conventional programs. FHA requires 3.5% minimum. Jumbo loans often need 10-20% down.

Conventional loans are not government-backed and follow Fannie Mae or Freddie Mac guidelines. They offer competitive rates and flexible terms for qualified buyers. Down payments start at 3%.

FHA loans are government-insured mortgages with lower credit and down payment requirements. They're ideal for first-time buyers. Mortgage insurance is required.

VA loans offer 0% down financing for eligible veterans and active military members. No mortgage insurance is required. They feature competitive rates and flexible credit guidelines.

USDA loans provide 0% down financing for homes in eligible rural areas. Income limits apply. They offer low rates for qualified buyers in approved locations.

Jumbo loans exceed conforming loan limits set by Fannie Mae and Freddie Mac. They finance higher-priced properties with competitive rates. Stricter qualification requirements typically apply.

Bank statement loans use 12-24 months of bank deposits to verify income instead of tax returns. They're ideal for self-employed borrowers. Rates vary by borrower profile and market conditions.

DSCR loans qualify investors based on property rental income rather than personal income. No tax returns or pay stubs required. Perfect for real estate investors building portfolios.

Bridge loans provide short-term financing between selling one home and buying another. They help with timing gaps and down payment needs. Terms typically run 6-12 months.

ITIN loans serve borrowers without Social Security numbers who have Individual Taxpayer Identification Numbers. They enable non-citizens to buy homes. Documentation requirements vary by lender.

ARMs feature interest rates that adjust periodically based on market indexes. They typically start with lower rates than fixed mortgages. Initial fixed periods range from months to years.

Interest-only loans let you pay just interest for an initial period, lowering early payments. Principal payments begin after the interest-only term ends. They suit buyers expecting income growth.

Reverse mortgages allow homeowners 62+ to convert home equity into cash. No monthly payments required while living in the home. The loan is repaid when you move or pass away.

A Home Equity Line of Credit lets you borrow against your home's equity as needed. It works like a credit card with a draw period. Interest rates are typically variable.

Closing costs typically range from 2-5% of the loan amount. They include lender fees, title insurance, escrow, appraisal, and recording fees. Some costs are negotiable.

Yes, we offer multiple self-employed loan options including bank statement and P&L statement loans. Alternative documentation replaces traditional W-2 verification. Rates vary by borrower profile and market conditions.

Mortgage insurance protects lenders if you default on your loan. It's required for conventional loans under 20% down and all FHA loans. Costs vary by loan type and down payment.

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

Pre-qualification is an estimate based on self-reported information. Pre-approval involves full documentation review and credit check. Pre-approval carries more weight with sellers.

Yes, we offer multiple investor loan programs including DSCR, conventional, and portfolio products. Requirements differ from owner-occupied financing. Many options require 15-25% down.

Typically you'll need pay stubs, W-2s, tax returns, bank statements, and ID. Self-employed borrowers may use alternative documentation. Specific requirements vary by loan program.

Yes, several programs work with lower credit scores including FHA and specialized portfolio loans. Rates and terms vary based on your complete financial profile. Higher rates may apply.

Construction loans finance building a new home in phases as work progresses. They typically convert to permanent mortgages after completion. Interest-only payments during construction are common.

Foreign national loans help non-U.S. citizens purchase property without traditional U.S. credit. Alternative documentation and larger down payments are required. Great for international investors.

Fixed rates provide payment stability over the entire loan term. ARMs offer lower initial rates but adjust later. Your choice depends on how long you plan to keep the home.

Portfolio ARMs are held by lenders rather than sold to investors, allowing flexible underwriting. They suit unique situations that don't fit standard guidelines. Terms vary by lender.

Most loan programs accept gift funds from family members for down payment and closing costs. Proper documentation and gift letters are required. Some programs have restrictions.

Asset depletion loans qualify you based on liquid assets divided by loan term. They're perfect for retirees or those with significant savings but limited income. No employment verification needed.

Hard money loans are short-term, asset-based financing focused on property value over credit. They close quickly for investors and fix-and-flip projects. Rates are higher than conventional financing.

Refinancing replaces your current mortgage with a new one, potentially lowering your rate or payment. You can also access equity through cash-out refinancing. Closing costs apply.

Equity appreciation loans offer favorable terms in exchange for sharing future home value gains. They can reduce monthly payments or down payment requirements. Terms vary significantly by program.

Yes, FHA, USDA, VA, and many conventional programs cater to first-time buyers. Lower down payments and credit score requirements are available. Community mortgage programs may offer additional assistance.

Community mortgages offer flexible underwriting for specific communities or professional groups. They may feature reduced fees or expanded qualification criteria. Eligibility requirements vary by program.

We analyze your income, credit, down payment, and goals to recommend optimal loan programs. Different loans suit different situations. Our expertise ensures you get the best fit.

1099 loans use Form 1099 income documentation instead of W-2s for contract workers and freelancers. They streamline qualification for non-traditional employment. Bank statements may supplement 1099 forms.

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

Brokers access multiple lenders and loan programs, increasing your approval odds and rate options. We handle paperwork and negotiation on your behalf. Local expertise ensures smooth San Bernardino County transactions.