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Mortgage Programs

Explore different mortgage programs from Resource Lenders. Serving all of California.


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  • Conventional

    • 5%-20% Down Req.
    • Competitive Rates
    • Fixed Rate Programs
  • FHA Loans

    • 3.5%+ Down
    • Fixed or Adjustable
    • Finance Eligible Repairs
  • VA Loans

    • 0%+ Down Payments
    • Eligible Military
    • No Mortgage Insurance

  • Jumbo Loans

    • Higher Loan Amounts
    • Fixed or Adjustable
    • Creative Solutions

  • USDA Loans

    • 0%+ Down Payment
    • Fixed Rate Option
    • In Designated Areas

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Which Program is Right For You?


There isn’t a single or simple answer to this question. The right type of mortgage for you depends on many different factors:

  • Your current financial picture
  • How you expect your finances to change
  • How long you intend to keep your house
  • How comfortable you are with your mortgage payment changing

For example, a 15-year fixed rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower monthly payment than a fixed rate mortgage, but your payments could get higher when the interest rate changes.


Click on the links below for more information about some of the available mortgage programs, and remember – the best way to find the “right” answer is to discuss your finances, your plans and financial prospects, and your preferences frankly with a mortgage professional.

Check out our YouTube page for informative videos about the different loan programs and the home buying process.

A conventional mortgage is a loan that is not insured or guaranteed by the federal government and follows the guidelines set by Fannie Mae and Freddie Mac.  It may have either a fixed or adjustable rate.  The maximum limit for a conforming loan depends on the count and state you live in and can be found here: Fannie Mae Loan Limits.  Conventional loans can be either fixed with a terms between 10 and 30 years or an adjustable rate.  Fixed-rate mortgages have a set interest rate for the entire length of the mortgage term.  An adjustable-rate mortgage (ARM) has a term of 30 years with a low introductory rate, for a fixed period from 3 years to 10 years, followed by periodic adjustments according to a specific benchmark, typically a specific LIBOR or a T-Bill index.  Always check with your mortgage professional for specific guidelines and terms.

For most counties, a jumbo loan is a mortgage of more than $417,000.  Jumbo mortgages tend to be used for large, single-family homes.  Qualifying for a jumbo loan is tougher than for a conventional loan, but for borrowers with a strong credit score, it’s a great option.  Always check with your licensed California Mortgage professional for specific guidelines and terms.

 

Homebuyers may obtain FHA-insured mortgages from HUD-approved lenders to purchase homes (including condominium units) with low down payments.  This program provides mortgage insurance to protect lenders against the risk of default on mortgages to qualified buyers.  Insured mortgages may be used to finance the purchase of new or existing one to four family housing, as well as to refinance debt.

In contrast to conventional mortgage products, which frequently require down payments of 5 percent or more of the purchase price of the home, single family mortgages insured by FHA make it possible to reduce down payments to as little as 3.5%.  This is because FHA mortgage insurance allows borrowers to finance approximately 96.5% of the value of their home purchase through their mortgage in some cases.  Always check with your mortgage professional for specific guidelines and terms.

The VA Loan program is the most powerful home loan program on the market for many veterans, service members and military families. These flexible, government-backed loans come with significant benefits that open the doors of home ownership to veterans who might otherwise struggle to obtain financing. VA loans require no down payment or private mortgage insurance. They feature competitive rates and terns and allow qualified borrowers to purchase a home with little to no money out of pocket. Always check with your Mortgage professional for specific guidelines and terms.

The USDA mortgage program offers highly competitive, government-backed loans to many buyers of rural properties.  These flexible loans provide significant benefits that make home ownership possible for many people who live in remote areas and might otherwise have trouble getting the financing they need.  USDA mortgages require no down payment or private mortgage insurance, requiring very little money out of pocket.  Always check with your mortgage professional for specific guidelines and terms.

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