Types of Loans

Variety of Loan Programs

As a mortgage broker, Elite One Mortgage can offer a variety of loan programs from a large portfolio of lender partners to find the perfect loan for each borrower’s unique financial situation.

Listed are some of the programs offered: CalHFA Down Payment Assistance, $100 HUD REO loan, Stated Income loan, 95% LTV Jumbo loan, 80% 1st/15% 2nd program, 2-1 Buydown program, Interest Only loan, USDA loan, Non-Owner loan, Conventional Financing, Bank Statement program, 1 Day Out of Foreclosure/Short Sale/Bankruptcy, Commercial loan 5+ units, Reverse Mortgage,

Asset Depletion loan, Platinum program, FNMA Homestyle Renovation program, Standalone HELOC, FHA loan, Manufactured Home Financing, TIN program, Home Ready Loan & Home Possible loan, VA loan, 203K loan, Non-Warrantable Condo program, No Income Investor program, 1 Year Tax Return program, Hard Money loan, CHENOA program 100% Financing, and DACA loan.

Types of Loans

Home inspection
An evaluation of a home’s condition. After you agree to buy a piece of property, you can order an inspection to check for potential problems before closing on a home loan.
A mortgage deed allows the bank to put a lien on your property to secure the loan, which means the bank can foreclose on your home if you default on payments.
Amortization is the process of paying off debt in equal installments over time. When you take out a home loan, you’ll make regular monthly payments that follow an amortization schedule.
Discount points
Discount points, sometimes called mortgage points, are an optional fee you can pay the lender to lower your interest rate.
Annual percentage rate (APR)
An annual percentage rate, often shortened to APR, is your interest rate expressed as a yearly rate. It has two main components: Interest rate and Lender Fees.
Title insurance
Title insurance is a type of insurance that protects the policy holder against issues that would affect legal ownership of the property.
Interest rate
The interest rate is the cost you pay each year to borrow money, expressed as a percentage. It doesn’t include fees and other charges you may have to pay for the mortgage.
Home equity is the part of your home that you own, calculated as the difference between what your home could sell for and the balance on your mortgage.
Down payment
A down payment is a percentage of your home’s purchase price that you pay the lender when you close on a home loan. This is your initial investment in your home.

The right mortgage loan program will save you money!

At Elite One Mortgage, we’re here to find the best program that fits your budget, will save your money, and/or provide you cash back at closing.