Loan Programs

San Diego Loan ProgramsThere are many home loan programs available in the Silicon Valley. Which mortgage is best for you? It is important to know what your options are, which Silicon Valley loan programs you qualify for and which program will best fit your needs. Some programs have low down payments and could have lower market rates.

When you are looking to make an offer on a home, the house you are looking to buy may have special financing requirements based on its location, age, condition and sales price (among other things). The sellers are more likely to accept your offer when they know that you qualify for a loan program that matches their property’s financing requirements.

List of Silicon Valley Loan Programs

Below are some of the more common loan programs in the Silicon Valley.

  • Conventional Loans — Loans that are not insured or guaranteed by a government entity. Nearly half of all residential real estate lending is completed with conventional loan programs.
  • Jumbo Loans — Loans that exceed the maximum loan amount that Fannie Mae or Freddie Mac will buy. The conforming loan limit is currently $417,000 on a single-family home.
  • FHA Loans — Loans that are insured by the federal government through the Department of Housing and Urban Development (HUD).
  • VA Loans — Loans that are guaranteed by the federal government through the Veterans Benefits Administration.
  • USDA Loans — Loans made through the Rural Housing program and guaranteed by USDA.
  • HomePath Loans — Loans that allow a borrower to purchase a Fannie Mae-owned property with special incentives.

Furthermore, there are a variety of special first-time home buyer and down payment assistance programs in the Silicon Valley.