Pacific Gate Lending

PRODUCT

WHETHER YOU ARE A FIRST-TIME HOMEBUYER OR A SEASONED INVESTOR, WE'LL HELP DETERMINE WHICH IS BEST SUITED FOR YOUR SPECIFIC SITUATION.

Conventional – Government – Jumbo – Commercial – Reverse – Mobile Homes – Down Payment Assistance
Government loans are broken down into FHA (Federal Housing Administration) and VA (Veteran’s Administration).

Conventional

Conventional loans offer as low as 3% down, but have stricter credit qualifying guidelines than FHA. Private mortgage insurance (PMI) is required on all conventional loans with less than 20% down.


Government

FHA

The government insures FHA loans, which allows buyers to purchase a home with low down payments and more lenient credit qualifications than conventional loans. FHA loans do require an upfront mortgage insurance premium (UFMIP) and monthly mortgage insurance (MMI).


VA

VA loans are guaranteed by the Department of Veteran Affairs. VA loans are available for a veteran, a veteran and his/her spouse, or a veteran and a co-borrower.


Jumbo

Do you need a loan that doesn’t necessarily conform to county loan limit guidelines? No problem! We work with many investors to get you a loan that fits your needs.


Commercial

Investors or businesses looking for a commercial mortgage loan, look no further! We work with different lenders to assist you in obtaining a commercial loan for your next business venture.


Reverse Mortgages

Reverse mortgages are federally insured mortgages that allow borrowers 62 and older to access the equity from their home, whether they are refinancing or purchasing. Funds received from a reverse mortgage can be issued as a lump sum, fixed monthly payments, or as a line of credit, and can be used for a wide variety of reasons. A couple basic requirements include that you live in the property and pay your taxes and homeowner’s insurance.


Some common misconceptions about reverse mortgages:

  1. The lender owns the home

Actually, you retain the title and ownership during the life of the loan and can sell your home at any time.

  1. The home must be free and clear of any existing loans

Many borrowers use the reverse mortgage to pay off an existing mortgage and eliminate monthly mortgage payments.

  1. The borrower is restricted on how to use the loan proceeds

Many borrowers use it to supplement their retirement income, pay off debt, medical expenses, take their dream vacation, or to remodel their home.





Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.

NMLS #1289683
BRE # 01948887

Login

Copyright © 2021 pacificgatelending.com - All Rights Reserved.