Specialty Mortgage Programs for Placer County Home Buyers
One of the great things about being a Placer County Mortgage Broker in addition to a Banker is that I can be a problem solver, offering solutions to buyers who otherwise might be excluded from home ownership.
Most Placer County home buyers are familiar with the most common types of mortgages: FHA, Veteran's Administration (VA), and Conventional (not insured or guaranteed by the Federal government) home loans.
Then there are the lesser used but fairly well-known home loans like USDA Rural for Auburn, Colfax, Forest Hill, Kings Beach, Lincoln, Loomis, Meadow Vista, Tahoe City and Tahoe Vista.
But what if a Placer County home buyer's loan requirements don't meet the guidelines of the typical mortgage product? Are they doomed from ever finding financing for their home purchase? Not necessarily.
There are actually other types of mortgages available. They are referred to as "Niche" loan programs. A "Niche" loan is a unique type of mortgage program that is only available from a limited number of lenders because the program is not in high demand or has higher than average risk for the lender. As a Placer County Mortgage Broker, I have access to multiple niche products from multiple sources.
Here are some examples of niche financing options available for Placer County properties:
•· Log homes
•· Manufactured or mobile homes
•· Investors with multiple financed properties
•· Properties with unpermitted additions
•· Financing with escrow holdbacks
•· Cash out refinance of non-owner occupied property
•· Seller carry backs
•· Unwarrantable condos
•· Hobby farms
•· Cash recapture after cash purchase
As you can see, there are unique loans for unique situations, moving some Placer County home buyers from "can't do" to CAN DO!
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