FHA home loans are popular among Bay Area first-time homebuyers due to low down payment and credit requirements. A conventional(fixed-rate mortgage) is a popular type of home financing in Bay Area because it offers predictability for your budget. Jumbo home loans are most appropriate for a segment of high-income earners who make between $250,000-$500,000 a year.
All mortgage rates displayed are provided by Zillow based on borrowers with credit scores between 680-740 and represent averages and trends. Please consult with Bay Area Loan Source to receive a personalized rate for your specific situation. Conventional mortgages are ideal for buyers with good credit and money to put down.
All mortgage rates displayed are provided by Zillow based on borrowers with credit scores between 680-740 and represent averages and trends. Please consult with Bay Area Loan Source to receive a personalized rate for your specific situation. Conventional mortgages are ideal for buyers with good credit and money to put down.
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We are the Bay Area Loan Source, your local Bay Area mortgage professionals. As a licensed mortgage originator, our reputation is built on professionalism, integrity and the ability to keep transactions on track. We are dedicated to helping our clients obtain a mortgage that fits their specific financial goals.
FHA home loans are insured by the Federal Housing Administration (FHA), and can only be provided by lenders approved by the FHA. This type of mortgage has a fixed term length of either 15 or 30 years. It's a popular choice among first-time homebuyers in Bay Area, as well as buyers with limited savings or lower credit scores.
A fixed-rate mortgage has an interest rate that remains the same for the life of the loan. In other words, your total monthly payment of principal and interest will remain the same over time. A fixed-rate mortgage is the most popular type of financing because it offers predictability and stability for your budget.
A jumbo home loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA) - currently $510,400 for a single-family home in all states (except Hawaii and Alaska and a few federally designated high-cost markets, where the limit is $765,600).
When you refinance, you replace your current home loan with a new one. Mortgage refinancing requires you to qualify for the loan, just as you had to meet the lender's requirements for the original mortgage. You file an application, go through the underwriting process and go to closing, as you did when you initially purchased the home.
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