Loan Programs
We offer a variety of loan programs to fit your needs, including conventional and government-backed loans. Government-backed loan programs may require little to no down payment, less than perfect credit scores and higher debt-to-income (DTI) ratios.
Check out our snapshots below to find a loan program for you.
Please visit our Disclosures page for more details on all loan types
Conventional Mortgage
• Minimum 620 FICO Score
• 5% Down (3% For 1st Time Buyers)
• Down Payment Assistance Allowed
• Upfront Mortgage Insurance Can Be Financed
• Mortgage Insurance Is Required Unless Down Payment Is 20%+*
• Gift Funds Allowed
• Non-Occupying Co-Borrowers Allowed
• Second Home & Investment Properties Allowed
Down Payment Assistance Programs
• Minimum 620 FICO Score
• 0-5% Down*
• Can Be Used With All Loan Programs (conventional, FHA, VA, and USDA)
• Available To All Borrowers, Not Just 1st Timers
• DPA Funds Are Either A Gift, Forgivable After 36 Months, Or Due When You Refinance Or Sell Your Home
• Available Year-Round
• Gift Funds Allowed
• Must Be Owner-Occupied
• 1-4 Unit Properties
• Double Wide Manufactured Homes
Allowed On Certain Programs
(visit www.gsfa.org for more info)
FHA - Federal Housing Administration
• Minimum 580 FICO Score
• 3.5% Down*
• Down Payment Assistance Allowed
• Upfront Mortgage Insurance Can Be Financed
• Mortgage Insurance Premium Is Required For The Life Of The Loan Unless Down Payment Is 10%+*
• Gift Funds Allowed - Family OR Friend
• Non-Occupying Co-Borrowers Allowed
• Must Be Owner-Occupied
• 1-4 Unit Properties
• Single & Double Wide Manufactured Homes Allowed
USDA - United States Department of Agriculture
(Available only for homes within an eligible rural area)
• Minimum 620 FICO Score
• 0% Down
• Down Payment Assistance Allowed
• Upfront Guarantee Fee May Be Financed
• Annual Fee Is Required For The Life Of The Loan
• Gift Funds Allowed
• Must Be Owner-Occupied
• Income Limits
• Not available for manufactured homes, homes with 25+ acres, homes with income-producing features (rental homes, MIL units, business access, etc.) or homes with an in-ground swimming pool
• Not available for "fixer-uppers" or rehab homes
VA - U.S. Department of Veterans Affairs
(Available only to veterans, active duty military personnel and/or their spouses)
• Minimum 580 FICO Score
• 0% Down
• Down Payment Assistance Allowed
• Funding Fee May Be Financed
• No Annual Mortgage Insurance Required
• Gift Funds Allowed
• Must Be Owner-Occupied
Refinance & Cash-Out Mortgage
(Refinances may be conventional or government-backed)
• No Down Payment
• Refinancing Options For Payment Reduction Or Cash-Out
• Multiple Refinancing Terms
(10, 15, 20, 25 and 30 Years)*
• Upfront Mortgage Insurance Can Be Financed
• Closing Costs Can Be Financed If LTV Allows
• Mortgage Insurance Is Required Unless Loan-To-Value (LTV) Is Less Than 80%
• Can Be Primary Home, Second Home Or Investment Property
Reverse Mortgage
(Available only to seniors ages 62 and older)
• The mortgage that pays you back!
• Purchase Or Refinance
• HUD Counseling Required
• The Bank Does NOT Own Your Home
• Multiple Disbursement Methods
• Must Be Owner-Occupied
• Property Taxes & Insurance Must Be Paid
(visit www.sfgreversemortgage.com for more info)
© 2020 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.
