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Or Visit us at:
9227 Haven Ave.
Suite 300
Rancho Cucamonga, Ca. 91730

Choice Lending Group offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
FHA Loan
FHA 203k Rehab Loan
VA Home Loans
USDA Rural Housing Loans
Conventional Fixed Rate Mortgage
New HomePath Loan for Fannie Mae Homes
Home Affordable Refinance Program (HARP)

FHA Loan

We offer residential mortgage loans insured by the Federal Housing Administration (FHA). FHA-insured loans offer many benefits, including lower costs, smaller down payments, easier qualification, and more protection to keep your home. Features include: * low 3.5% down payment * low monthly mortgage insurance * no maximum income/earning limitations * no cash reserves if loan meets FHA guidelines * minimum FICO score 640 * no landlord rating required * gifts are acceptable * seller credits are allowed * non-occupant co-signers okay to help qualify * fixed rate and ARM loans available

 

more on Fha 203b:
203(b) Mortgage Insurance
 
What is the purpose of this program?
 
To provide mortgage insurance for a person to purchase or refinance a principal residence. The mortgage loan is funded by a lending institution, such as a mortgage company, bank, savings and loan association and the mortgage is insured by HUD.

What are the eligibility requirements?
 •The borrower must meet standard FHA credit qualifications.
•The borrower is eligible for approximately 96.5% financing. The borrower is able to finance the upfront mortgage insurance premium into the mortgage. The borrower will also be responsible for paying an annual premium.
 •Eligible properties are one-to-four unit structures.
 •To learn more about the mortgage limits in your area, go here.
 


FHA 203k Rehab Loan
FHA's 203(k) loan program provides borrowers an affordable, stable financing solution that combines the purchase or refinance of the home along with the costs of the improvements into a single loan. This program is ideal for purchasing foreclosures and improving their value with needed repairs and upgrades. Features include: * FHA guidelines apply * opportunity to borrow against the value of the home after improvements * low down payment requirements for purchase transactions * flexible credit qualifying fixed-rate and adjustable-rate mortgages up to 30-year terms * fully assumable loans to qualified borrowers * owner-occupied 1-4 unit properties, PUDs, condos and REO properties Virtually any kind of improvement is eligible provided it becomes a permanent part of the real property and adds value, for instance: * kitchen or bath remodels * finished basement or attic * patios, decks or terraces * roofing and landscaping * safety, energy efficiency and electrical upgrades * handicapped accessibility improvements Luxury items are not eligible: * swimming pools, hot tubs, tennis courts, gazebos, barbecue pits, saunas or alterations to support commercial use

VA Home Loans
The Department of Veterans Affairs (VA) loan program began after World War II to help veterans buy homes. The main goal of this program was to make it easy for veterans to buy a home by not requiring a down payment. The assistance provided by VA is a guarantee of a portion of a mortgage loan used to finance the purchase of a primary home. Each eligible veteran is granted a dollar amount of entitlement, which can be used in place of a down payment, and can result in a loan for 100% of the purchase price. Features include: * no down payment requirement * no monthly mortgage insurance * fixed rate and ARM loans available * more flexible qualification guidelines

USDA Rural Housing Loans
The USDA Rural Development loan is one of the last remaining 100% financing programs left and is the perfect way to finance your home without coming up with a down payment. These programs offer flexible, common sense underwriting guidelines, relaxed credit requirements, no PMI (private mortgage insurance), the ability to finance closing costs into the loan amount, lenient seller concessions, and rates that are comparable to, if not better than, conventional fixed rate mortgage programs. Features include: * purchase or refinance * up to 102% financing * one-time 3.5% Guarantee Fee on purchase transactions (can be financed into the loan) * 0.5% Guarantee Fee on refinance transactions (can be financed into the loan) loans up to $417,000 * low 30 yr fixed rates * no monthly mortgage insurance premium * no cash reserves required * unrestricted gifts * excellent credit not required * do not have to be a first-time buyer * finance new construction or an existing property Property requirements: * property must be located in an eligible rural area * one-unit, non-farm, primary residences, including single family dwellings, condos, and PUDs

Conventional Fixed Rate Mortgage
If you are planning on staying in your home for more than 5 years and want the security of a monthly mortgage payment that will never change, a fixed rated mortgage is a smart choice. Of course, your property taxes and homeowners insurance may increase over time, but your principal and interest payments will stay the same. Fixed rate mortgages are available for 30 years, 20 years and 15 years butthe most common fixed rate loans are 15 and 30 year mortgages. 30 year fixed * easiest fixed rate loan to qualify for * lowest monthly payment of the fixed rate loan choices * keeps home loan payments affordable by extending them over a long period of time * provides maximum tax-deductible interest (consult your tax advisor) 15 year fixed * has a lower interest rate than a 20 or 30 year loan (but higher monthly payments) * helps you pay off your home even faster and build equity quicker than a 20 or 30 year * saves considerable money on total interest paid over the life of the loan

New HomePath Loan for Fannie Mae Homes
Fannie Mae's HomePath Mortgage is a special new home loan to finance the sale of its real estate owned (REO) properties across the country. Choice Lending Corp is among a select group of mortgage lenders nationwide who can offer the HomePath loan to get you into one of these homes! Here are the key benefits of a HomePath Mortgage Loan: * Only 3% down required on a primary residence property * No mortgage insurance required * No property appraisal required * Only 15% down on 1-2 unit investment properties * Get up to 6% in seller concessions on primary residence properties Search for Fannie Mae REO properties eligible for HomePath financing at: http://www.homepath.com/

Home Affordable Refinance Program (HARP)

If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA's Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fee will apply.

You may be eligible for HARP if you meet all of the following:

  • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009
  • The mortgage cannot have been refinanced under HARP Previously unless it is a Fannie Mae loan that was refinanced under HARP from March - May 2009.
  • The current loan-to-value (LTV) ratio must be greater than 80%
  • The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the last past 12 months.

 

Steps to HARP:

  • Determine whether your mortgage is owned or guaranteed by Fanne Mae or Freddie Mac by visiting their respective Loan Lookup Tools.
  • Contact your mortgage servicer or call our office at 909-952-2882 to detertime eligibility.
  • Compare rates and costs with additional mortgage companies to ensure best refinance terms.



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.