San Diego Home Loan Mortgages
Zara Home Loans, a part of World Wide Credit Corporation, has over 12 years of experience and extensive knowledge in mortgage lending. With our in house lender we can offer speedy and exceptional services to you as a borrower. Our mission is to provide you with a fast, hassle-free loan that will minimize your stress as a borrower. We keep your best financial interests in mind. Trust that Team Zara will get the deal done for you. Contact us today to see how we can further assist you.
SINGLE FAMILY HOMES
CONDOMINIUM LOANS
TOWNHOUSE LOANS
Our Most Popular Loan Types
Conventional Home Loans
The Conventional Loan is the most common loan used for purchasing a home. Conventional mortgage loan applicants typically have above average credit and are planning on a significant down payment to minimize or eliminate paying mortgage insurance (PMI) when buying a home. Conventional loans give the option for 10-to-30 year fixed payments. The 30 Year Conventional Mortgage Loan will have an interest right higher than the 15 Year Conventional Mortgage Loan, but will offer the benefit of a lower payment to loan applicants.
Key Aspects of a Conventional Loan
- The most common type of mortgage loan
- Maximum borrowing of $417,000
- Minimum 640 FICO score required
- 5% to 20% down payment required
- Fixed-rate terms available: 30, 25, 20, 15 and 10-year
- Adjustable-rate term available: 5/1 and 7/1
FHA Home Loans
An FHA Mortgage Loan, also known as a Federal Housing Administration Mortgage Loan, is a government-sponsored mortgage program for home buyers. It is geared toward first-time home buyers and has easier credit score requirements. An FHA Mortgage will allow applicants to qualify for a loan with a smaller down payment than most loans that be as little as 3.5 percent down.
Key Aspects of a FHA Loan
- Government-sponsored mortgage loan program
- Maximum borrowing of $417,000
- Minimum 640 FICO score required
- Minimum required down payment: 3.5% of purchase
- Fixed-rate terms available: 30, 25, 20, 15 and 10-year
VA Home Loans
The VA Loan, also known as a Veterans Affairs Mortgage Loan, is a government-sponsored program specifically for veterans and active-service members. By providing 100% financing and no requirement to pay monthly private mortgage insurance, it is a great financing option for our Nation’s protectors.
Key Aspects of a VA Loan
- Government-backed financing for veterans and active service
- Maximum borrowing of $417,000
- Minimum 640 FICO score required
- Provides 100% financing
- Fixed-rate terms available: 30 or 25-year
Jumbo Home Loans
The Jumbo Loan is for loan applicants with above average credit. Loan applicants considering a Jumbo Loan typically have a relatively large down payment and will avoid paying mortgage insurance purchasing a new residence of up to $2.5 million.
Key Aspects of a Jumbo Loan
- May borrow more than $417,000
- May borrow up to $2.5 million
- Minimum 700 FICO score required
- Minimum 20% down payment required
- Fixed-rate terms available: 30 or 15 year
- Adjustable-rate term available: 5/1 and 10/1
Adjustable Rate Home Loans (ARM)
If you’re planning on buying a home and living there for less than 10
years, an Adjustable Rate Mortgage (ARM) Loan may be an excellent option for you! Enjoy some of the lowest rates we offer, with the comfort of knowing the rate is fixed for the first 5 or 7 years of your ARM.
Key Aspects of a Adjustable Rate Mortgage
- Low interest rates available for shorter than traditional fixed periods of time, typically 5 or 7 years.
- After the initial fixed interest rate period, the interest rate can adjust up or down annually over the life of the loan.
- Principal and interest payments are amortized over 30 years.
- Maximum cap at 5% above your initial interest rate to protect in a period of rising interest rates.
- As an example; if you’re initial fixed interest rate is 2%, your variable interest rate will never exceed 7%.
What Our Customers Are Saying About Us
Saif Zara & his team are the best & they go above & beyond to satisfy your need and less not forget that they’re hard working people. They’re always they’re for you & they always answer your calls. I’m so glad that they were my agent/loan officer. Go with team Zara you will never regret it.
Said Zara is very knowledgeable and is great to work with, My whole family uses him… He is great and follows through and will constantly keep you informed of what’s going on. He makes the process easy and painless. Totally recommend him for all you loan and real-estate needs.
Saif was a huge help with buying our dream home. He was in contact with us everyday and kept us updated throughout the entire process of buying our house. He got us the best deal out there and made our transaction as smooth as could be.
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