Home Loans in
What We Offer
Finding the right home mortgage is a difficult process. It’s easy to get overwhelmed with all of the options, and this confusion can lead to making mistakes that could cost you thousands. That’s why Golden Coast Loans offer home loan services in San Clemente for people just like you who are looking for someone trustworthy to help navigate the complicated world of mortgages so they can find a solution that meets their needs.
Whether you are purchasing or refinancing, we are here to make the mortgage process easy and stress-free for you. Golden Home Loans is committed to providing the best service and experience to every customer.
Golden Home Loans provides a variety of lending options, including:
- FHA Loans
- Refinance Loans
- VA Loans
- Reverse Mortgage
- USDA Loans
- Bank Statement Loans
- Jumbo Loans
FHA Loans are a great option for first-time homebuyers who may not have the credit score or large down payment to purchase their dream house. You only need to put down a minimum of three percent, and you can finance up to 97% of the purchase price. The difference between FHA loans and Conventional loans is the FHA limit in which you must have a minimum credit score of 580, whereas with conventional loans there is no set requirement for your credit score.
Conventional loans are a popular way to buy your first home because there is no credit score requirement. You can also qualify for Contermortgage rates if you have good credit and at least 20% of the purchase price as a down payment. The other great part about conventional loans is that they are assumable.
Conventional loans are not insured by the Federal Housing Administration (FHA) but can be backed by the Veterans Affairs, Rural Housing Service and Farmers Home Administration for qualified borrowers. Conventional mortgages have no credit score requirement so if you don’t want to worry about a low credit score affecting your mortgage rates then this may be the best loan option for you!
A conventional loan is typically easier to get approved with than FHA because it doesn’t rely on an outside agency’s approval like VA or USDA home loans do. You should consider talking with a lender at Golden Coast Loans today since we offer fast pre-approvals that take less than two weeks from start to finish!
The VA Home Loan program guarantees a reasonable rate of return and can be used as an investment vehicle, giving veterans the ability to purchase real estate easily with low-interest rates and without fees or commissions. This type of loan is not insured by FHA, so there’s no risk that you’ll lose your home if you cannot pay back your mortgage debt. VA loans are also great options because they are assumable, meaning that if you sell your house to another buyer in the future, he or she may be able to use it as a VA loan.
VA Home Loans can also be used for down payment assistance and grant programs through various local governments such as San Clemente County Housing Authority (SCHH)
USDA Loans are a great option for rural and city dwellers alike. Veterans have access to a wide range of affordable home loans, such as those offered by the VA Home Loan Program.
The VA guarantees that you’ll be able to purchase your new home without incurring any risk or loss if you are unable to pay back your mortgage debt. The difference between VA loans and USDA loans are based on the location of your home. VA loans are available to any city or rural dweller in designated areas, while USDA loans are only for qualified rural homeowners that live within a specified area.
Jumbo Loans are mortgages that are for homes that are appraised at over $650,000. These types of loans typically require a 20% down payment and come with higher loan rates but they can be the best option for qualified borrowers that don’t have enough money to make a traditional 20% down payment on their home!
The benefits of Jumbo Loans include:
- Homebuyers who need more than just regular financing options in order to buy their new house
- People looking to invest in multiple properties or purchase vacation homes
- Individuals that want more flexibility when it comes time re-financing their property later on down the line because they won’t qualify for conventional lending programs anymore (which often times limits your ability do so after around five years)
Bank Statement Loans
A bank statement mortgage offers eligible self-employed borrowers the opportunity to use income from their bank statements as proof of income. This offer is available to those who are not required to provide a tax return as verification of earnings, making this option more available for specific cases.
Reverse Mortgages are a type of loan that provides homeowners with the equity in their homes, without having to sell or move. The money is paid out as a lump sum amount. It also does not require an income or credit qualification.
Reverse mortgages offer people who own their home outright (or near) but don’t want it any longer the opportunity to receive cash from selling off some of its value – using what’s called “equity.” It doesn’t matter if you’re working, retired, disabled or just living paycheck-to-paycheck – every homeowner has some kind of equity in his or her house.
Financing Options & Product Offerings
- 30/ 25/ 20/ 15/ 10/ 7/ 5 year adjustable and fixed conventional loans (1-4 units)
- 30/ 25/ 20/ 15/ 10 year adjustable and fixed FHA loans (1-4 units)
- 30/ 25/ 20/ 15/ 10 year adjustable and fixed VA loans (1-4 units)
- 30/ 25/ 20/ 15/ 10 year adjustable and fixed Down Payment Assistance
- 30/ 25/ 20/ 15/ 10 year adjustable and fixed jumbo loans (1-4 units)
- 30/ 25/ 20/ 15/ 10 year adjustable and fixed USDA loans
- 10/ 5 year adjustable bank statement loans (1-4 units, including interest only)
- 10/ 5 year adjustable stated income loans (1-4 units, including interest only)
- 2/ 1 year/ 6 month adjustable bridge loans (1-4 units)
- 2/ 1 year/ 6 month adjustable hard money loans (1-4 units)
- Adjustable/ fixed reverse mortgage loans
- Adjustable/ fixed jumbo reverse mortgage loans