Our Loans at J & P FINANCIAL, INC:

Conventional Loan Programs and these Special Conventional Programs:

• Homepath - Purchase of a Fannie Mae Foreclosure as either Owner Occupied or Investment Property. Advantages: limited down payment & no mortgage insurance required
• USDA Rural Home Loan Program - Purchase of Owner Occupied property in rural areas. Advantages is 100% Financing and you can even include closing costs if property appraises for more than the purchase price
• CAL STERS - Loan for teachers. On a Purchase, teacher puts down 3%, and gets an 80% 1st loan, and a 17% 2nd with the payment on the 2nd loan being deferred for the 1st 5 years of the loan.
• CAL PERS - Loan for California State Employees

FHA Loan Programs

• Traditional FHA - Borrower puts down 3.5% which can be a gift, 620 credit score needed.
• 203K Loan - Renovation loan where appraisal is based on future value after repairs are complete. There are two types of 203K loans. The streamline, which is just for cosmetic improvements and the full 203K loan which includes structural, changes to the property. This is a great loan for a buyer who is buying a fixer, and does not have the cash to fix it, so they are including it into the financing.

VA Loan Programs

• Standard VA - No money down, no mortgage insurance. Just need certificate of eligibility.

First Time Home Buyer Programs

First Time Home Buyer Loans that offer Down Payment & Closing Cost Assistance are available throughout San Diego & Riverside County. A first time home buyer is someone who has not owned a home in the last three years. If you know of a buyer who does not have a lot of money for a down payment or cannot afford to buy, they may be able to with the help of these programs. The down payment allows them to increase their buying power (purchase price) while keeping the payment affordable as the "community second" loan is deferred and the borrower does not make any payments until they sell, no longer occupy the property or refinance.