Purchase Loans

Mortgage Programs to Help You Achieve Your Goals

When it comes to home financing, it’s important to match each would-be homeowner with a loan that works for them. Mark Avila Loans is a premier lender serving clients in Placer County, Sacramento, El Dorado, and nearby California cities. Our mortgage professionals offer a full spectrum of home financing solutions for clients with all types of financial backgrounds. When you’re ready to purchase, contact us to discuss mortgage programs best-suited for your needs.

When discussing different mortgage options, it’s important to understand the basic divisions of home financing. There are two main types of loans: conventional and nonconventional. Conventional loans are fully funded and insured through private banks and lenders. Nonconventional loans, on the other hand, are insured at least in part through a division of the federal government.

Conventional Loans

Conventional loans come in all shapes and sizes with various terms and rates with various down payment options and approval requirements. These types of loans are further classified based upon whether they are repurchased through government-sponsored entities (GSEs) Fannie Mae and Freddie Mac. These companies set limits on which mortgages they will repurchase. Those that conform to this limit are called conforming loans. Those that exceed it are nonconforming or “jumbo” loans. We can quickly determine whether a conforming or nonconforming conventional loan makes sense for the type of property you’d like to purchase.

Nonconventional Loans

Nonconventional loans are insured through different divisions of the federal government. They are, however, still fully funded through private lenders. Because of their government backing, nonconventional loans are less of a risk to lenders. These mortgage programs are a great option for clients with less-than-perfect credit history or who may not be able to gather a large down payment. Some have as low as 0% down payment and can accept clients with as low as a 500 credit score.  There are several types of nonconventional mortgages available to clients in different demographics, each with unique benefits. Common ones that you’ve likely heard of include FHA loans (sponsored through the Federal Housing Administration), USDA loans (sponsored through the U.S. Department of Agriculture), and VA loans (sponsored through the Veterans Benefits Administration).

The Benefits of Working with a Qualified Lender

When it comes to loans for purchase, we have the terms, rates, and benefits you seek. We focus on solution-based lending and flexible approval requirements. When you work with Mark Avila Loans, you can enjoy:

  • A quick approval process, with pre-approval available in many cases for fast closing
  • Financing options for clients with bad credit and minimal savings
  • Long-time connections in the community, including Realtor colleagues who can help you in your search
  • Low and no down payment options
  • Extensive knowledge of local, state, and national programs that provide financial assistance

Mortgage Programs for All

When you’re ready to start the path to homeownership, Mark Avila Loans is here to help. We help clients in Placer County, Sacramento, El Dorado, and all surrounding California cities. We’re confident we can connect you with mortgage programs that meet your needs, so you can choose the best solution. Contact us to schedule a consultation today.