Loan Programs

You will find us to have the deepest line-up of residential home loan programs. Since we are a division one of the largest mortgage lenders in the nation, it allows us to be hyper competitive in all scenarios and loan program options.

Conforming Financing

Conforming Financing

A conforming mortgage is one that meets the eligibility and guidelines requirements of either Fannie Mae (FNMA) or Freddie Mac (FHLMC) (“Agencies”), the two companies chartered to create a secondary market for the purchase and sale of mortgages. This resulted in standardized guidelines, providing an equal playing field for consumers. Conforming loans are a practical non-VA financing option for those with higher credit scores.

  • Low fixed and adjustable interest rate options
  • Loan amounts up to $484,350 (may be higher in Sacramento, Placer, El Dorado and Yolo counties)
  • First-time home buyer down payment options as low as 3%
  • No mortgage insurance required with 20% down
  • Mortgage insurance that can be removed without having to refinance
  • Credit score down to 620
  • Allows gifts funds, seller credit, agent credit, and down payment assistance funds
FHA Financing

FHA Financing

FHA is a Government backed mortgage insured by the Federal Housing Administration. FHA, erroneously classified as “the loan program for first time home buyers”, was designed to make home ownership more accessible to those unable to meet the eligibility requirements of Conforming financing. You do not have to be a first-time home buyer to obtain an FHA loan.

  • Low interest rates
  • Fixed rate and adjustable rate options
  • Loan amount up to $484,350 (may be higher in Sacramento, Placer, El Dorado and Yolo counties)
  • Down payment options as low as 3.5%
  • Mortgage insurance is required regardless of down payment percentage
  • Flexible credit guidelines
  • Allows gift funds, seller credit, agent credit, and down payment assistance funds
VA Financing

VA Financing

A Government backed mortgage designed to make home ownership accessible to eligible Veterans and to help Veterans purchase with no down payment and no mortgage insurance requirement. If you are a Veteran with benefit eligibility, you’ll want to consider the strengths of VA financing.

  • Low interest rates
  • Fixed rate and adjustable rate options
  • Loan amount up to $484,350 (may be higher in Sacramento, Placer, El Dorado and Yolo counties)
  • No down payment required (up to the county loan limit)
  • No mortgage insurance
  • Flexible credit guidelines
  • Very high debt ratios allowed
  • Allows gift funds, seller credit, agent credit, and down payment assistance funds to offset closing costs
First Time Financing

First-Time Home Buyer (FTHB) Financing

It is such a joy and pleasure helping our first time home buyers. We are well-versed and experienced in all FTHB options. Here’s a portion of FTHB financing options:

  • 3.5% down FHA
  • 3% down Conforming
  • GSFA down payment assistance
  • CalHFA down payment assistance

Please click below for more information all First-Time Home Buyers should know.

More Information
Down Payment Assistance Programs

Down Payment Assistance Programs

Down payment assistance programs are great for those who are ready to purchase but coming up short on the cash needed. We offer down payment assistance loan options, including those offered by CalHFA and GSFA, which could be the final piece needed for you to complete a home purchase.

Click below for greater detail on the various down payment assistance options.

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Jumbo Financing

Jumbo Financing

Jumbo refers to loan amounts that exceed the Conforming county loan limit where the property is located. Jumbo eligibility and guideline requirements are quite strict compared to Conforming, FHA, VA or USDA but, for those with exceptional credit, high income, 20% down and plenty of cash reserves left over, Jumbo financing offer exceptional loan terms.

  • Low interest rates
  • Fixed rate and adjustable rate options
  • Loan amount exceeding $484,350 (may be higher in Sacramento, Placer, El Dorado and Yolo counties)
  • Higher LTV options
  • Credit score down to 680
Non-Qualified Mortgage Loans (Non-QM)

Non-Qualified Mortgage Loans (Non-QM)

Conforming, FHA, VA, USDA and most Jumbo loan programs are considered “QM” mortgages. Sometimes, however, a home buyer’s situation may not fit neatly in the box of conforming guidelines. This is where the Non-QM loan options can help. Some business owners, for example, with good qualifications may not show enough income for conforming qualification, even though they can easily afford a certain mortgage payment. Non-QM options would allow this type of borrower to qualify their income with business or personal bank statements.

Secondary Financing

Secondary Financing

Secondary financing refers to second mortgage options. Second mortgages are commonly used in conjunction with first mortgages to purchase a home. Second mortgages are also great options, in lieu of first mortgage refinancing, when interest rates have increased. Here are some features of secondary financing options we offer:

  • Fixed Rate Second Mortgages options
  • 10, 15, 20 or 30 year terms
  • Credit scores as low as 680 allowed
  • Can borrow up to 90% of the home’s value
Reverse Mortgage Financing

Reverse Mortgage Financing

Designed for homeowners age 62 and older, a reverse mortgage can help you unlock the equity in your home or finance a new home purchase. We make this piece of longevity-planning puzzle seamless and simple. As specialists in reverse mortgage financing, we are dedicated to helping people learn more about how reverse mortgages can be part of a retirement plan.

When the loan is due and payable, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds. The lender may charge an origination fee, mortgage insurance premium, closing costs and servicing fees (added to the balance of the loan). The balance of the loan grows over time and the lender charges interest on the balance. Borrowers are responsible for paying property taxes, homeowner’s insurance, maintenance, and related taxes (which may be substantial). We do not establish an escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax-deductible until the loan is partially or fully repaid.

Investor/Commercial Financing

Investor/Commercial Financing

Whether you’re supplementing your income, investing full-time or have just purchased your first property, Finance of America Commercial is dedicated exclusively to real estate investors like you. Contact us for more information.

Product not directly offered by Mortgage Evolution. See your advisor for details. Broker featured in this advertisement is not employed by Finance of America Commercial LLC and their affiliation with Finance of America Commercial LLC is limited exclusively to the commercial loan products they can offer through their broker relationship with Finance of America Commercial LLC.

Product offered through Finance of America Commercial LLC || NMLS ID# 1133465 | Product not offered in all states. | Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates vary depending upon loan type, LTV, verification of application information and other riskbased factors. Application fees, closing costs and other fees may apply.

FHA 203k

FHA 203k

Some properties, due to condition, are not eligible for traditional, mainstream financing. An excellent option may be the FHA 203k rehabilitation loan. We have a department dedicated exclusively to this loan program.

This is not a commitment to lend. Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.