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WHICH LOAN IS BEST FOR YOU?

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Conventional Loans

A conventional loan is not guaranteed nor insured by an outside entity. Because fewer low-income buyers use these, conventional loans typically have very attractive interest rates. Furthermore, unlike FHA loans, there are no mortgage insurance premiums to worry about. Depending on your situation, a conventional loan or conventional refinance may be the best option for you.

USDA LOANS

A USDA loan was designed by the US Department of Agriculture to improve life in rural areas. These no-money-down loans can be a great option for those eligible, but many people don’t know these loans exist.

  • Allows for 100% financing on homes in eligible areas determined by the USDA Rural Development.
  • More favorable income and credit qualifications may apply.
  • There are some income limitations that must be met for USDA loans.

First-Time Buyer Home Loan

Interest rates are fixed for a time-frame of 10, 15, 20, 25 or 30 years.

Principal and Interest payment for this home loan is set for the entire term and will never change. Also, your interest rate will never change.

FHA Loans

An FHA loan is insured by the Federal Housing Administration. Buyers pay for mortgage insurance to protect the lender in the case of a default. This means you can get your home at lower interest rates with fewer qualifications.

  • Purchase your home with as little as 3.5% down.
  • Seller can contribute up to 6% of sales price to help with closing costs.
  • Choose from a fixed or adjustable-rate mortgage.

VA Loans

A VA (Veteran’s Administration) loan can be an incredible option, if you’re qualified for it. They are available to eligible current or former members of the U.S. Armed Forces and their surviving spouses.

  • Up to 100% financing available.
  • Very competitive low fixed or adjustable rates.
  • More favorable income, debt, and credit qualifications than other home loans.
  • No mortgage insurance (MI).

LEARN MORE WITH HOME LOAN NEWS ARTICLES AND EDUCATION

How Conventional Loans and Refinancing Work

How Conventional Loans and Refinancing Work

According to the Home Buyer and Seller Generational Trends report, more than half of all home buyers -- 59% to be exact -- chose conventional mortgages when they needed home loans. Many of those homeowners will refinance their conventional loans at some point, as...

What Causes Home Prices to Fluctuate In California

What Causes Home Prices to Fluctuate In California

If you’re wondering why California home prices fluctuate, there are a number of factors to consider. You may hear that there is a buyer’s market and a seller’s market. When home prices are lower, it is a buyers market; when they are higher, it is a seller’s market.

Lowering Costs For First Time Homebuyers

Lowering Costs For First Time Homebuyers

Buying a home is a momentous milestone that may seem out of reach based on your financial situation. However, an FHA loan can help manage the cost. So, how can FHA loans impact the cost of a home?

Home Loans Redding, CA

Contact Mortgage Matt at Megastar Financial Redding to get started with your home loan!

Home Loans Redding

My name is Matthew Brown and I’m the branch manager of Megastar Financial Redding. If you’re looking for a knowledgeable, conscientious loan officer to help you find the best home loans in the Redding area, or to help you refinance a loan or mortgage, contact me using the form below.

Do you want to buy a home? Who do you call first?

In this video Mortgage Matt talks about who you should talk to first and why.

Mortgage Matt

MEGASTAR FINANCIAL CORP.

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