Want to Buy a House with Confidence?

Get pre-approved for your mortgage today, shop with an advantage tomorrow!

To be pre-approved for a mortgage loan means that your creditworthiness has been evaluated and a commitment has been made to extend you a loan, up to a specified amount based on certain assumptions and conditions.

*A loan pre-approval is not a guaranteed loan offer.

Benefits

TIME TO PREPARE
Pre-Approval gives a buyer time to evaluate financing options available and decide on the best solution, as well as put in place a budget for new home ownership.

STRENGTH TO NEGOTIATE
A buyer with pre-approved financing has increased power to negotiate an offer to purchase, because sellers and real estate professionals take those offers more seriously.

FASTER CLOSINGS
Closings can be written in a contract sooner because the pre-approval is in place. A quick closing is attractive to both the seller and real estate professionals involved.

EASIER PROCESS
The overall process is quicker, smoother and less stressful for all parties involved, because financing is done up front. Being prepared financially will allow you to concentrate on finding the right home.

Fannie Mae

HomePath

Fannie Mae HomePath is a program that speeds up the process of selling foreclosed homes. This helps Fannie Mae in its mission to help homeowners avoid and prevent foreclosure by working with organizations—such as housing counselors and mortgage companies.

 

If foreclosures happen, Fannie Mae HomePath helps to sell the properties as quickly as possible to help minimize the impact on defaulting homeowners.

HomeReady® Mortgage Program

HomeReady® is for those who want to buy a single-family home and can meet the income limits in their area. A 3% down payment and co-borrower flexibility are among the features included.

 

To qualify, you’ll need to complete an online homeownership course run by Framework. This mortgage program is available for those who purchase a HomePath property or not.

HomePath Ready Buyer™ Program

Home buyers who complete the HomePath Ready Buyer online education course by Framework and purchase a HomePath property can receive up to 3% back in closing costs.

 

You can combine both the HomeReady mortgage and Ready Buyer™ program on the same purchase.

Freddie Mac Home Possible

Freddie Mac Home Possible is a specialty mortgage program for first-time homebuyers which allows for down payments of as low as 3%-5% and features reduced private mortgage insurance (PMI), which can be canceled once your home equity reaches 20%. 

Home Possible

  • Income Limits: The borrower's annual income cannot exceed 100% of the area median income limits (or higher percentage in designated high-cost areas). No income limits apply if the property is in an underserved area.

  • Eligible Property: A one- to four-unit primary residence or a manufactured home that meets the guidelines.

  • Eligible Mortgages: First-lien, fully amortizing mortgages; fixed rate and adjustable rate loans are allowed. The maturity must not exceed 30 years.

  • LTV and DTI Ratios: Max 95% LTV, DTI Determined by Loan Product Advisor or 45% if manually underwritten.

Home Possible Advantage

  • Income Limits: Loan Product Advisor is used to determine whether the borrower's income exceeds the product advisor limits.

  • Eligible Property: A 1-unit primary residence. Manufactured Homes not permitted

  • Eligible Mortgages: First-lien, fully amortizing mortgages; fixed rate loans only. Loan term cannot exceed 30 years.

  • LTV and DTI Ratios: Max 97% LTV, DTI determined by Loan Product Advisor or 43% if manually underwritten

Si Se Puede!®

ruiz.chester@gmail.com

650.771.4831

1606 S. El Camino Real,

San Mateo, CA 94402

CONTACT US!

DISCLAIMER

Adelante California is a marketing partner of Preferred Processing Services. Inc. 3137 Castro Valley Blvd, Suite 207, Castro Valley, Ca 94546. NMLS #236424 BRE # 01342764, Adelante Plus is a pilot program in development for members and family of the United Farmworkers of America (“UFW’) in the Salinas Region of California. The use of UFW Trademarks by Adelante Plus is limited to promoting benefits and services to UFW members, subject to the approval by the UFW Benefits Coordinator. Service providers approved by Adelante California agree to provide all services in Spanish and comply with California Civil Code 1632.5. NAHREP 10 Authored by Gary Acosta, Co Founder of NAHREP, in collaboration with the NAHREP Familia.

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