Understanding our Products & Programs

When it comes to finding a mortgage, the possibilities are endless. However, being overwhelmed by choice doesn’t mean you should take whatever is offered to you first. We have been helping clients around Sacramento with their real estate investments since 1998.  

Every borrower’s situation is unique, and for every unique borrower there’s a loan that fits that borrower best. That’s why, when we talk to you, we learn about your situation and goals before we suggest loan programs. While we suggest your options, we’ll give you some guidance as to why we think a certain program might be best. That way, you can make an informed decision about which loan works for you. 

Getting a new mortgage to replace your existing mortgage is called refinancing.  Refinancing allows a borrower to obtain a better interest term and rate. The first loan is paid off, allowing the second loan to be created instead of simply creating a new mortgage and throwing out the original mortgage.

A home equity loan allows a homeowner to borrow against the equity in their home.  Equity is the difference between how much the home is worth and any debts against the home, such as a mortgage.  Home equity loans are a popular way to pay for big expenses such as a kitchen remodel.

A reverse mortgage is a type of home equity loan that is reserved for older homeowners and does not require monthly mortgage payments. Instead, the loan is repaid after the borrower moves out or passes away. The older the borrower, the more they can borrow. Likewise, the higher the value of the home (up to certain limits), the more they can borrow. The average amount of a reverse mortgage is roughly about 50 percent of a home's value. 

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The lender does not own the home. You will retain the title and ownership during the life of the loan, and you can sell your home at any time. The loan will not be due as long as you continue to meet the loan obligations, such as living in the home, maintaining the home according the to the Federal Housing Administration (FHA) requirements, and paying property taxes and homeowner's insurance.

Contact us for information about different types of mortgage loans, and we’ll be happy to explain them and help you find one that suits your needs and preferences.