Riverside,CA Mortgage Company | Riverside Mortgage Broker/Lender | Home Loans

Mountain West Financial is a mortgage company helping home buyers in Riverside, CA qualify for a Riverside FHA, VA, HomePath, Conventional, USDA, or Riverside Down Payment Assistance home loan.   The flexibility of being both a Riverside, CA mortgage broker & Riverside direct lender bank gives home buyers the ability to avoid delays, close faster, more niche loan options, and the ability to compare all loans programs available to them.  riverside ca mortgage company broker lender home loans

Mountain West Financial (NMLS #164497) offers home loans to home buyers in Riverside, Jurupa, Mira Loma, Moreno Valley and the entire Inland Empire region.

Here are a few of the most popular Riverside home loan programs that require a low down payment.  

  • Riverside FHA Mortgage Loans:  3.5% down payment required, offers low interest rates, flexible credit requirements (minimum credit score of 580), and ability to finance up to $500,000.  FHA loans work well for 3% down payment assistance programs when buying in Riverside, CA.
  • Riverside VA Guaranteed Home Purchase Loan: Military/Veterans VA home loan benefits are available to active, non-active, Reserve, National Guard, and retired military of the armed forces with no down payment (100% financing).  As a Riverside VA lender, we help you acquire your certificate of eligibility and simplify the process for you.  A Riverside VA loan DOES NOT require monthly mortgage insurance and even allows an eligible borrower to qualify for a new loan two years after a short sale, and three years after a foreclosure.
  • Riverside USDA 100% Financing  Purchase Loans:  A USDA loan is a true 100% financing home purchase loan that has no monthly mortgage insurance, however, Riverside is not an eligible area:-(  Very few people are aware that a USDA loan actually allows home buyers to roll closing costs into the loan amount under certain circumstances.  To use this program, you may want to consider buying in eligible areas such as south Corona, Menifee, Sun City, Romoland, Homeland, parts of Perris, and further south into Winchester and Wildomar.
  • Riverside HomePath Financing: Where else in Riverside can you purchase a bank owned home with 3% down payment and no mortgage insurance?  Fannie Mae has approved us to offer special financing on their HomePath foreclosure homes.  A Riverside HomePath mortgage loan requires at minimum 3% down payment, a 660 FICO credit score and doesn’t even require an appraisal!  To view a list of available homes, contact me at (951) 215-6119.
  • Riverside Conventional Financing: This is your traditional financing program and works best when you have a higher credit score and/or a 20% down payment in order to avoid needing private mortgage insurance (PMI).  However, if you don’t have a 20% down payment, we offer the Riverside MyCommunity 97% LTV option and a 95% LTV loan option.  Call for more details…..income restrictions may apply.
  • Riverside Down Payment Assistance (DPA) programs are available for those qualify.  DPA’s are popular with first time or entry level home buyers, but don’t always require the person be a Riverside first time home buyer.  Down Payment assistance programs for Riverside home buyers are funded by the state, county, or city.  Each program has it’s own unique qualifying criteria that may cause you to not actually want to use the assistance program.  Call me to see if you qualify.

To qualify for a Riverside home loan, you need sound advice and a solid pre-approval.  Call me direct (951) 215-6119 or contact me here.

photo compliments of Daniel Orth via Flickr Creative Commons Attribution

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