Purchase

There are numerous financing options available for those looking to purchase a single-family home, condominium, townhouse, plot of land, or multi-unit property. Having a variety of choices is beneficial, but navigating through the array of loan programs, lenders, and interest rates can be daunting. We encourage you to explore our comprehensive loan guide for insights. Afterwards, consider consulting with Brett McDonell, who can guide you expertly through the entire process.

If you’re currently in the market to buy a home and require a mortgage pre-approval, we invite you to directly proceed to our section on pre-approvals. Here, you can gain more information and initiate the pre-approval process. Click Here to visit the “Pre-Approval Section”.

CONVENTIONAL LOANS

Conventional loans are not a part of any government program like FHA or VA, but most are guaranteed by Government Sponsored Enterprises (GSE’s) like Fannie Mae and Freddie Mac.

THERE ARE TWO TYPES OF CONVENTIONAL LOAN PROGRAMS:

1. Conforming Loan – Loans have a minimum and maximum loan limit set by the Federal Housing Finance Agency (FHFA).
2. Non-Conforming or Jumbo Loan – Jumbo loans are typical in Los Angeles and Orange County because of the high price of properties. The terms are less standardized, there is no government-set loan limit, and rates can vary by lender. Working with Brett McDonell will save you from calling multiple lenders for rates because we have access to most banks and investors.

*as of 2023, source – FHFA

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NON-CONVENTIONAL LOANS

The purpose of non-conventional loans is to encourage single family, condo, townhouse, land, or multi-family homeownership for those who may not have qualified under traditional criteria.

We are experts in this area of lending and can help you secure and close on a loan product that fits your circumstances.

A non-conventional loan can be an excellent opportunity to obtain home financing for borrowers who fall into these categories.

• Self-employed (Non-QM loan)
• Limited proof of income (one-year of tax return history).
• Poor credit history, recent short sales, or foreclosures
• Foreign nationals
• Service members, veterans and surviving spouses of the armed forces (VA, CALVET loans)
• Low and moderate-income (FHA Loan)
• Good neighbor next door (formerly teacher/officer/firefighter next door)

MULTI-FAMILY AND CONSTRUCTION LOANS

• Construction Loans – We can facilitate loans for new, owner-occupied property and financing for the expansion and rehabilitation of an existing facility.
• Multi-Family – Acquisitions, refinances, and new construction loans for owner-occupied and investor multi-family properties. (up to five units) are available through conventional and non-conventional residential loan programs.

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