Ed Fontes and Golden Empire Mortgage offer a variety of loan programs to meet your needs. Golden Empire Mortgage is a Direct Lender. This means you get your loan approval faster. We cut out the middle man!

Do not confuse a prequalification with a formal loan approval. Take a look at some of the programs available today:

Loan Programs
• Construction and Bridge Loans - Need a loan for building a custom home?
• Debt Consolidation - Lower your monthly payments.
• FHA & VA Loans - Want more information on government loans?
• First Time Buyers - First time buying? We have a program for you!
• Refinance - Planning to refinance your home loan?
• Purchase Loans - Looking forward to purchasing a home?
• Second Mortgages - Need to pull out another mortgage?
• No Down Payment - Put zero down on a home.

Loan Products
• 100% Financing Loan - No down payment for borrowers with good credit.
• Adjustable Rate Mortgages (ARM) - About ARM interest rates fluctuating...
• Balloon Mortgages - Allows low monthly payments and interest rates.
• Fixed Rate Mortgages - Lock into a guaranteed rate.
• Full Doc and Stated Income - This type of loan usually offers low rates.
• Introductory Rate ARMs - More information on ARMs.
• Reverse Mortgages - This converts equity into cash.
• Types of Standard ARMs - Types of Standard ARMs.

Construction loans

Our construction loans program can be tailored to your specific needs. Below is some information to help get you started.
A Construction Loan requires a construction plan to be presented to the lender. The lender has to know the story behind the plan before they are willing to loan you the money. Because this type of loan has many variables, it's not going to be standardized like mortgage loans. Usually construction loans require interest-only payments during construction and are due upon completion. Give Ed Fontes at Golden Empire Mortgage a call if you have any questions regarding this program.
Construction Loans are temporary and usually lasting six months to a year while the house is being built. Construction Loans are paid off by a long-term mortgage loan upon the completion of the home.

Bridge Loan
A bridge loan is one that "bridges" the gap between the purchase of a new home and the sale of the borrower's current home, sometimes also known as a "swing loan". The borrower's current home is used as collateral and the money is used to close on the new home before the current home is sold. Some are structured so they completely pay off the old home's first mortgage at the bridge loan's closing, while others pile the new debt on top of the old. They usually run for a term of six months.
Sometimes you may be in need of immediate cash to finance your purchase or perhaps maybe even a current business operation. With the help of Ed Fontes at Golden Empire Mortgage, you will be able to build the home of your dreams. 
If your interested in securing construction and/or bridge loan financing, please contact Ed Fontes at Golden Empire Mortgage at 866-505-6262 , he will gladly help you get started today!

Debt Consolidation

Our Debt Consolidation home loan programs can be tailored to your specific needs. 
Debt Consolidation is a debt repayment plan to help ease your payments by reducing interest rates. With a debt consolidation loan, all your debts will be consolidated into one simple monthly payment. There are several ways debt consolidation can be achieved. One way is to take out a second loan on an existing property to pay off existing debts. Another way is to refinance an existing property and taking out cash from the property if there is sufficient equity.
Ed Fontes at Golden Empire Mortgage can help to reduce your monthly payments. 

FEDERAL HOUSING ADMINISTRATION LOANS
This loan is insured by the Federal Housing Administration. It is open to all qualified home purchasers.

FHA Products

203(b) FHA fixed rate loan program. this is a 30 year fixed rate program with no prepayment penalties. minimum down payment is 3% or a 97% loan to value. The down payment can be a gift from family members. the seller can pay up to 6% of buyers closing cost. if you qualify, you can also use the CHDAP silent second provided by CALFHA. in essence this can be a true 100% financing program.
203(k) Loans: This loan allows home buyers to finance both the purchase and rehabilitation of a home through a single mortgage. The home must be at least one year old. The cost of rehabilitation must be at least $5000. All cost of repairs including total property value must be within FHA maximum mortgage limit.
Energy Efficient Mortgage: The Energy Efficient Mortgage (EEM) allows home buyers to save future income on utility bills. This can be done by financing energy-efficient features to a new or existing home as part of an FHA-insured home purchase. The cost of improvements be evaluated by a energy consultant or Home Energy Rating System. This cost would have to be less than the anticipated savings from the improvements. the minimum loan for this is $4,000.00 to the maximum of $8,000.00. this is added to the purchase loan with out qualifying for this addtional amount.

 VETERAN AFFAIRS LOAN
This is a long term program with low or no down payment guaranteed by the Department of Veterans Affairs. This program has a negotiable fixed interest rate that is competitive to conventional mortgage interest rates. VA loan is generally for members of the Selected Reserve, active duty service and to categories that pertain. The VA borrower can have the seller pay for all closing costs on the purchase loan. This, in essence is a true 100% financing loan program provided to the veteran. the closing costs will allow the Veteran to buy down the interest rate as well.

Requirements
• You must be an eligible veteran who has available home loan entitlement.
• Your home must be occupied or be occupied in your ownership within a reasonable period of time after closing the loan.
• You must have sufficient income to meet the new mortgage payments on the loan, this includes the costs of owning a home, taking care of other obligation and expenses, and income to support your family.
• A good credit score is required

Ed Fontes at Golden Empire Mortgage can help you with your FHA and  VA home loans. 

What is a First Time Buyer Loan?

Purchasing your first home can be a daunting and confusing process for many, with the help of Ed Fontes at Golden Empire Mortgage you are often offered many home loan options to help assist you in making your decision for which loan is best for you. First time home buyer programs can offer lower interest rates, lower down payments, or reduced taxes.

Who is Eligible for a First Time Buyer Loan?

First time home buyer programs are designed to help borrowers who may not have the funds to pay the full cost of a traditional down payment or the closing costs associated with a mortgage. In many states, there are even programs specifically tailored for your needs. These programs are easier to qualify for and make obtaining a mortgage more cost effective. You must not have owned a home in the past three years to be eligible for a first time home buyer program.

FHA and VA Loans for First Time Buyers

As a First Time Home Buyer, it may often be difficult to amass a considerably large down payment and everyone should have the opportunity to buy a home. This is the reason that the Federal Government has stepped in to offer two loan programs in assisting homebuyers that have little or no down payment. These programs are called Federal Housing Administration (FHA) and the Veteran's Administration (VA). These are not solely intended for first time home buyers, though Ed Fontes at Golden Empire Mortgage will be able to determine if you meet the qualifications for either program and which would be acceptable for your needs.

Community Home Buyer Programs

Community home buyer programs reduce the down payment you must pay by to 3% of the total down payment. This home loan program requires that you take a class on home ownership in your own city and/or state. This type of program makes it possible for many people to have the opportunity to own a home.

What is Escrow?

An account in which a neutral third party holds the documents and money in a real-estate transfer until all conditions of a sale are met. In other words, escrow is where the transaction changes hands and prevents the seller from NOT receiving the money from a sale and prevents the buyer from NOT receiving the home that they have purchased. You will always want to use some type of escrow when dealing with large amounts of money and/or items, such as during a mortgage process.

Mortgage Credit Certificates

A Mortgage Credit Certificate (MCC) is provided by an issuer authorized to utilize Private Activity Bond Volume Cap which entitles a homeowner to take credit on their Federal income taxes in an amount equal to a certain percentage of the interest paid on their mortgage loan. This helps buyers to free up funds and make monthly home loan payments more affordable for the home owner. Income and purchase price requirements may also vary from state to state and it is best to speak with Ed Fontes at Golden Empire Mortgage to see if this may fit your needs.
 

Refinance

There are many reasons to refinance your home mortgage loan. Refinancing allows you to have lower monthly Mortgage Payments. This can be done by refinancing into a new, lower-rate home mortgage loan, a fixed ARM combination, or an adjustable rate mortgage. You can obtain fixed monthly payments by refinancing your loan into a new fixed rate loan. You have the option to consolidate debts from your home's equity by refinancing your mortgage loan.
One of the biggest and most exciting steps you will take in your life is purchasing your new home or next home. Whether you’re an experienced home buyer or a first time buyer, Ed Fontes at Golden Empire Mortgage will be able to help make the process quick and easy.

Below are useful resources which will help you get started.

Down Payment Gifts, Loans, and Your 401K
Down Payment Support Programs
Housing Authorities
Low Down Payment Qualifications
Purchase Loans and Adjustable Rate Mortgages (ARM's) 

Down Payment Gifts, Loans, 401k loans and Loans and/or gifts from family, friends, and many other sources are usually a common way to put together your down payment sufficient for your home loan needs. The percentage of the loan and/or gift that you are able to use may vary from loan to loan. Speak with a home loan specialist today to discuss any loans or gifts you plan to use as a down payment.
Often many companies offer a 401K plan that help make the home buying experience easier. Usually employees are permitted to withdraw from their 401K plans without a penalty to provide a down payment on a home loan. To find out if this is the correct course of action for your loan, contact Ed Fontes at Golden Empire Mortgage to find out if there are drawbacks you may incur.

Down Payment Support Programs
Sometimes collecting the funds needed for a down payment can be difficult. Fortunately, there are several programs that are able to assist those who need help with obtaining a down payment. There are national assistance programs and programs specifically for local residents. To find out if you qualify for assistance, it is best to contact Ed Fontes at Golden Empire Mortgage, though several programs do not require repayment and do not place caps on borrower's income.

Housing Authorities
Housing authorities are non-profit organizations which are dedicated to assisting home buyers with down payments and closing costs. There are many agencies in cities and states across the nation that are able to help with their local areas. Many of the housing authorities help to provide affordable housing for low and moderate income person and/or families and help to create an environment that helps to learn independently. Ed Fontes is educated about the current housing authorities in your area and can assist with working with a Housing Authority.

Low Down Payment Qualifications
Qualifying for a low down payment home loan may be just what you’re looking for. To qualify, your mortgage broker will look at the adequate appraisal value of the home, good credit background, and an income sufficiently able to pay the monthly mortgage. While these are the more important details, there may be other details to factor in.
Speak with Ed Fontes at Golden Empire Mortgage today to discuss your qualifications on a one-on-one basis. One of the aspects in speaking with Ed Fontes will discuss your ability to pay the closing costs, which are typically between 2% and 3% of the home's value. Ed Fontes will be able to determine your best long term loan options.

Purchase Loans
Purchase loans are available to borrowers at a wide variety of rates and terms. Contace Ed Fontes at Golden Empire Mortgage to discuss all your options

Adjustable rate mortgages, or ARM, is much different from a traditional fixed rate mortgage because the interest rate fluctuates during the life of the loan in accordance with movements in the index rate. Adjustable rate mortgages generally have lower initial interest rates than fixed rate mortgages and can end up saving you a substantial sum if rates are to remain steady or drop. On the other hand, when financial markets are unstable, adjustable rate mortgages can increase with little notice

Fixed rate mortgages
Fixed rate mortgages means that your interest rate and monthly loan payments remain the same for the life of your loan. This option is preferred if you plan for long-term and don't like taking risks. The advantages of this mortgage is that the rate for the term is guaranteed. You are protected from rising interest rates. You are guaranteed to pay fixed monthly payments. You should take this mortgage into consideration if your income is consistent and reliable.

Full Doc
A Full Doc loan is generally less risky for lenders because the borrower is required to present all necessary documents for verification. This type of loan usually offers lower rates because it is less risky for the lender.

State Income
Stated Income Mortgage Loans are generally used and least expensive product in the reduced or no documentation suite of programs. This loan type allow those who are self employed or those who do not have documentation of earnings to state on the mortgage application.

There are several adjustable rate mortgages that are available to homeowners. These include 6-Month Certificate of Deposit ARM, 6-Month Treasury Average ARM, 12-Month Treasury Average ARM and the 1-Year Treasury bill ARM. ARMs fluctuates quickly to the market and will allow the borrower to benefit from falling interest rates. Borrowers can take advantage of low rates when rates begin to increase on certain ARM programs that lag in some markets.

Periodic rate cap
Periodic rate caps limits how much your payments can rise at one time.

Payment Caps
Payment caps are offered in some ARMs. It limits the payment amount that can rise over the life span of your loan. For example, if the underlying index rises, your payment would increase only to the limit of the payment cap.

Lifetime Caps
Lifetime caps limits the interest rate that can rise during the life of the loan.

Reverse Mortgage
A reverse mortgage is a unique type of loan used by older Americans to convert the equity in their homes into cash. The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years. The reverse mortgage has earned its name because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular first mortgage or home equity loan, a lender makes payments to you. The money from a reverse mortgage can be used for anything from daily living expenses to home repairs and home modifications.

Reverse Mortgage Qualifications
To qualify for a reverse mortgage you must be at least 62 and own your own home. There are no income or medical requirements to qualify. You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off a first mortgage. Seniors can use the Reverse Mortgage to pruchase a new home.

Types of Standard ARMs
ARMs with different indexes are available for purchases and refinances. The interest rate and monthly payments varies on the change made on the index rate.
6-Month Certificate of Deposit (CD) ARM
This program has a maximum interest rate adjustment of 1% every six months. This CD index usually reacts quickly to changes in the market.
6-Month Treasury Average ARM
Like the 6-Month CD ARM, this program has a maximum interest rate adjustment of 1% every six months. This program reacts slowly to the rapid changes in the market, therefore causes adjustments in the ARM interest rate to lag behind in some other market indicators.
12-Month Treasury Average ARM
This program has a maximum interest rate adjustment of 2% every 12 months. The Treasury Average reacts slowly to market fluctuation, therefore the ARM interest rate will lag behind some other market indicators.
1-Year Treasury bill FHA ARM
This program has a maximum adjustment  (cap) of 1% every 12 months and a life cap of 5%. This program reacts slower than CD index but faster than Treasury Average. This is the best ARM available in today's Market. It is insured by HUD  to protect the borrower.