Home Mortgages San Jose CA

Home buying is one of the most important decisions an individual or a couple can make. It is quite possibly the largest purchase an individual or family will ever make, thus, it is important to approach the funding of the purchase with great caution.

Local Companies

NoJa Mortgage Corp.
408-841-9400
2059 Camden Ave 231
San Jose, CA
Pacificawide Lending
(408) 452-7705
1762 Technology Dr
San Jose, CA
California Pacific Financial
(408) 972-5666
835 Blossom Hill Rd
San Jose, CA
Econ Mortgage
(408) 223-4600
5734 La Seyne Pl
San Jose, CA
Comunity Lending
(408) 629-6169
5504 Monterey Hwy
San Jose, CA
Wilson R H & Assoc
(408) 371-6405
San Jose, CA
CTA Tax & Financial Planning Strategies
(408) 266-6661
1568 Meridian Ave
San Jose, CA
Golden State Mortgage
(408) 288-6700
1625 The Alameda
San Jose, CA
Loan Option
(408) 925-9377
383 N Autumn St
San Jose, CA
Valley Real Estate Services
(408) 441-7488
2107 N 1st St Ste 205
San Jose, CA

Two very important and frequently used types of loans are FHA Loans and VA Loans. FHA loans are considered a government mortgage and are insured by the Federal Housing Administration. These loans mandate that the buyer put at least three percent of the sales price down as a down payment. VA loans are reserved to those individuals who have met specific time requirements in the military. There is typically on down payment and loans may equate 100 percent of the value of the property.

Rural Housing Loans are also an option for families and persons living in small towns and rural areas and have low to moderate incomes. There is one hundred percent financing with a thirty year term. In addition to the Rural Housing Loans, there are also Affordable Housing Program Loans and Housing Finance Agency Programs for home buyers to choose from.

The final major type of loan available to home buyers is the conventional loan. This loan is not insured by the government, but rather insurance companies. The loan allows up to ninety percent of the purchase price to be financed. Conventional loans can be either fixed-rate loans or adjustable rate mortgage. In a fixed rate mortgage, the interest rate of the loan is maintained over the length of payment, hence the title. Adjustable rate mortgages may start off with a lower rate, but as interest rates rise, so to will your monthly payments rise. The ARM mortgage is often used in situations where income is low at first but is expected to go up.

About the Author:

Sara Chambers is a marketing consultant and an internet content manager for http://www.homemortgageweblog.com.


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Featured Local Company

NoJa Mortgage Corp.

408-841-9400
2059 Camden Ave 231
San Jose, CA