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Modesto Office
(209) 524-6000
(800) 399-4262
1217 Standiford Ave.
Modesto CA., 95350


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I'm Ready To Purchase a Home But What Loan Will Work For Me?

As you contemplate getting into the housing market, whether it's for the first time, or you're looking to get back in after a past economic event, knowing what types of loans are available and what you may qualify for is very important.

California Mortgage Associates offers the following loan products below and we're happy to take the time to find one that best fits your loan needs! Call us to find out more at 209-524-6000!

*Fixed Mortgage

A mortgage in which the interest rate does not change during the entire term of the loan. Purchases can de done with of 3% and 5% down-payment. Refinance LTV varies on the type of loan.

*Adjustable Rate Mortgage (ARM)

A mortgage in which the interest changes

            periodically, according to corresponding 
            fluctuations in an index. All ARMs are tied to
*Jumbo Mortgage

A loan that exceeds Fannie Mae's and Freddie 

            Mac's loan limits, Also called a nonconforming loan.  Freddie Mac and
            Fannie Mae loans are referred to as conforming

*FHA Loan

A mortgage that is insured by the Federal Housing Administration (FHA). Along with VA loans, an FHA loan will often be referred to as a government loan. Down payments start at 3.5% and Refinance can be done with 85% LTV.

*FHA 203K Loan

Loan program for the rehabilitation and repair of

            single family properties. The program allows for a
            maximum repair cost of $35,000 to be added to
            the purchase price of a home

*VA Loan

A mortgage that is guaranteed by the Department

            of Veterans Affairs (VA).    


USDA Rural Development has partnered with

            local lenders to help them extend 100% financing
            opportunities to rural individuals and families. 
            Program Highlights: No down payment required -
            100% Financing Available, No monthly mortgage
            insurance - you may qualify for a larger loan,
            Flexible credit and qualifying guidelines.

*Second Mortgage

            A mortgage that has a lien position subordinate to

            the first mortgage
*Reverse Mortgage

            Mortgages that allow you to either not make loan

            payments or to receive money each month.  This
            is done by using the equity on your current
            property.  For more information, click here Reverse Mortgage.