VA Home Loans

Guaranteed by the U.S. Department of Veterans Affairs.

Reverse Mortgages

For homeowners to leverage the equity in their home.

Refinancing

Replace your current home loan with a new one.

Prime Jumbo and Super Jumbo Mortgages

For high-income earners who make $250,000+ a year.

Fixed-Rate Mortgages

Offers predictability for your budget.

FHA Home Loans

Popular for first-time homebuyers.

Conventional Mortgages/Conventional High Balance

A loan not guaranteed or insured by the federal government.

Self Employed Loan Programs

For 1099 recipients, P&L users or qualify using assets.

Bank Statement Programs

See how you can qualify without having to show tax returns.

Investor DSCR or Rental Income Loans

Perfect for investors who want tenant rent to cover mortgage.

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Should You Rent Or Own If You’re Retired?


California real estate

How stable is your income?

When you’re on a fixed income, it greatly helps to have fixed housing costs. That’s why taking out a mortgage might make sense for retirees. Having to worry about rising rent costs when you’re on a fixed budget can be stressful; owning your home means you have one flat payment every month that is also building equity for the future.

However, in some markets, renting may be a good financial decision. The overall cost of renting may be cheaper than buying—when you leave equity out of the equation.

It’s also much cheaper to move from one rental property to another than it is to sell a house because you don’t have to worry about closing costs, homeowners insurance, a large down payment, etc.

Can you afford routine maintenance?

One major concern for retirees to consider is the upkeep and maintenance that inevitably comes with owning a home. Cutting the grass, painting, and other home maintenance tasks are a hassle for anyone, but even moreso for retirees. Of course, these projects can be outsourced, but that costs money. And major home repairs—like a new roof, plumbing, or HVAC—can run to several thousands of dollars.

Do you qualify for a mortgage?

If you decide to downsize your home or move to another location, you may need to obtain a mortgage on your new home. Before 2008, it seemed like you could get by with a large down payment and good credit history to obtain financing. Today, one of the more important factors is income, so the money you might be receiving from Social Security or your pension must be sufficient to qualify you for the mortgage on the property you want to acquire.

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About

VA Home Loans
Reverse Mortgages
Refinancing
Prime Jumbo and Super Jumbo Mortgages
Fixed-Rate Mortgages
FHA Home Loans
Conventional Mortgages/Conventional High Balance
Self Employed Loan Programs
Bank Statement Programs
Investor DSCR or Rental Income Loans

Loan Options

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