Whether you’re a first-time homebuyer, looking to refinance, or interested in investment properties, Ponce & Associates has the expertise and resources to help you find the right mortgage solution for your needs.

  • FHA

    FHA loans are mortgages insured by the Federal Housing Administration (FHA), which is a part of the U.S. Department of Housing and Urban Development (HUD). Some of the features of FHA loans include lower down payment requirements (as low as 3.5% of the purchase price), lower credit score requirements, and more lenient income and debt requirements. FHA loans are also more widely available to borrowers who may not qualify for conventional mortgages. It's important to note that FHA loans have mortgage insurance premium (MIP) requirement , which is a fee paid to the government to insure the loan. This fee is typically added to the loan balance and must be paid over the life of the loan. Additionally, FHA loans have limits on the amount that can be borrowed, which vary depending on the location of the property.

  • CONVENTIONAL

    Conventional loans are mortgages that are not insured by the Federal government, unlike FHA, VA, and USDA loans. They are offered by private lenders and can be either conforming or non-conforming. Conforming loans conform to guidelines set by Fannie Mae and Freddie Mac, while non-conforming loans do not. They typically require a higher credit score, a larger down payment, and a lower debt-to-income ratio. Conventional loans also have a loan limit, which is determined by the Federal Housing Finance Agency (FHFA). These limits vary depending on the location of the property and the type of loan. It's important to note that conventional loans have private mortgage insurance (PMI) requirement if the down payment is less than 20% of the purchase price. PMI is a fee paid to a private insurer to protect the lender in case the borrower defaults on the loan.

  • VA

    VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs (VA). They are designed to help eligible veterans, active-duty service members, and surviving spouses become homeowners. Some of the benefits of VA loans include: No down payment required, No private mortgage insurance (PMI) required, More lenient credit requirements, Lower interest rates, and no prepayment penalties. It's important to note that VA loans have a funding fee, which is a fee paid to the government to help cover the costs of the loan program. The fee varies depending on the type of loan and the veteran's military service. Additionally, there are some restrictions on the use of VA loans, such as a cap on the amount that can be borrowed and a requirement that the home be used as the borrower's primary residence. Eligibility for a VA loan is determined by the Veterans Affairs, and is based on factors such as military service and discharge status.

Follow us on social

Contact Us

Thank you for considering our loan options! We understand that applying for a loan can be a complex process, and we are here to help. If you have any questions about our loan products, the pre-approval process, or need help with your loan application, please do not hesitate to contact us.

Phone: (626) 586-9436

Email: info@poncemortgagelending.com

If you prefer, you can also fill out the form and a loan specialist will be in touch with you as soon as possible.