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Mortgage Loans Orange County

Buying a home in Orange County can be daunting, especially when you start researching mortgage loan programs. Here at McLellan Team, we provide different mortgage loan products in Orange County that will fit your spending habits so you can shop with confidence. 

Whether you’re a real estate investor, first-time homebuyer, or looking to buy a second home, you can choose from our variety of home loans designed for your particular situation. Here’s a breakdown of our different loan products. 

FHA Loans

The Federal Housing Administration offers insurance on loans made by FHA-approved lenders. These types of mortgages were designed with the first-time homebuyer in mind. They are easier to qualify for, allowing lower credit scores and higher debt-to-income ratios. FHA loans require as low as 3.5% down, but you need an upfront mortgage insurance premium to finance the loan. The monthly rates and up-front vary depending on the down payment amount and loan term.

VA Loans

VA loans offer both short and long-term financing to American Veterans. This type of loan is guaranteed by the Department of Veterans Affairs and issued by federally qualified lenders. The American Veterans determines eligible applicants. VA Home loans require an upfront funding fee that can be financed into the loan with a zero down payment. If you have higher debt-to-income ratios and lower credit scores and are looking for 100% financing within city limits, VA loans may be the perfect choice for you.

Jumbo Loans

Jumbo loans surpass the maximum limit set by Fannie Mae and Freddie Mac. In Orange County, this limit is $822,375, so any loan amount above that is considered a Jumbo. Rates on these types loans are typically higher. These types of mortgages are commonly used to buy high-end custom construction homes or luxury homes. Here at McLellan Team, we offer varieties of Jumbo loans, including fixed and adjustable-rate with little down payment.

Foreign National Loan

 Non-citizens who want to buy a home in Orange County can get this type of loan. So don’t let your Non-US citizenship status hinder you from achieving your property goals. The requirements for this loan differ slightly from the standard program guidelines, which is why we recommend calling us if you think this program is right for you. However, a larger down payment is required for this type of loan.

Non-warrantable condos

Any property that is still under development is considered non-warrantable. We have mortgage programs that allow you to finance non-warrantable condos whether they meet Fannie Mae and Freddie Mac guidelines or not. We can help you obtain a competitive rate and meet your goal.

Contact McLellan Team For Mortgage Loans Orange County

Here at McLellan Team, we are here to help as much as you’d like. We provide competitive rates across all mortgage types, and our application process is simple and easy, so you can get the loan you need a soon as possible. Give our Mortgage Specialists a call at 949-669-1100 if you have any questions about our Orange County mortgage loans.