Redding CA Home Loan Programs & Financing Options

Guide To Home Loan Types

Find the loan that is appropriate for you.

An important part of the loan process is to find the loan that is a fit for you. There are lots of different loan options that you can qualify for depending on your income, credit score, and a variety of other factors. Below you can find information about each loan to help determine which loans will work for your situation. We encourage you to come in for a free consultation to discuss your situation and goals so that we can get you set up with an appropriate loan.

Conventional Loans

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Who It’s For: Borrowers with good credit.

Benefits: Low monthly payments, 3% down.

Limitations: Interest rates increase with poorer credit.

FHA Loans

FHA Image

Who It’s For: Borrowers with moderate credit.

Benefits: Less hurdles, minimize down payment.

Limitations: Loan limits often apply.

FHA 203(K) Streamline

FHA Streamline Image

Who It’s For: Homebuyers wanting to remodel.

Benefits: Finance additional $ for remodelling.

Limitations: Remodel must be done in 6 months.

USDA Loans

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Who It’s For: Borrowers looking to buy in rural area.

Benefits: 0% down, low monthly payments.

Limitations: Homes must be in eligible areas.

VA/CalVet Loans

CalVet

Who It’s For: Eligible US Military Veterans.

Benefits: 0% down, flexible underwriting.

Limitations: Must stay in home for 5+ years.

CalHFA Loans

CalFHA

Who It’s For: First time home buyers.

Benefits: Low down payment.

Limitations: Purchase price, household income.