With all the "funny loans" gone, with all the "monkey business" loans gone, the one trusted workhorse still providing the American Dream is the FHA loan.  FHA has come a long way since it was first introduced decades ago.  Now it's streamlined, simpler.  In 2009, the minimum down payment is 3.5% for a purchase.  The maximum "standard" FHA loan amount in high-cost counties in California is $417,000.  Keep in mind that High Balance FHA loans are also available for loan amounts between $417,000 and $729,250.  These High Balance FHA loans come with a slightly higher interest rate than the "standard" FHA loan.  For your perfect loan, apply on-line right here, or call today. 

Gone are the days of 80/20 loans. Until the year 2008 a would-be homeowner could purchase a home with NOTHING as a down payment, using the then famous 80% first mortgage and 20% second mortgage (80/20).  This type of loan along with other factors led to many homeowners defaulting on their loans.  A major overhaul in the lending industry resulted in more careful and prudent lending.  Today the minimum down payment for Conventional loans is 10%.  In other words, 90% financing for a home purchase is available up to $417,000, and up to $729,250 under the "High Balance" guidelines.  Call or apply on-line for the perfect loan today.  

What is a Jumbo loan?  It's anything above the FannieMae agency conventional limits.  It's above the limits of the agency's willingness and ability to purchase these loans.  In the year 2009, a Jumbo loan is anything over $729,250.  Banks and investors continue to make these loans, but at a higher rate.  They also require the borrower to come into the purchase with more of a down payment, at least 20% or more.  Call or apply on-line for your Jumbo options today.