LOAN PRODUCTS

Whether you are buying your first home or purchasing a property to add to your portfolio, Back Bay Funding and our lenders have many product specialties and rate incentives to help you close on time.

Refinancing your existing loan can bring relief to your financial outlook, whether you would like to reduce your interest rate, obtain cash/equity from your home’s current value, or changing a mortgage product (e.g. adjustable rate to a fixed rate).

If your loan is currently services by Fannie Mae or Freddie Mac, Back Bay can help find you the lowest mortgage rate in today’s market.

For a loan over county limits ($625,500 in Los Angeles/Orange counties, $580,750 in San Diego for example), we can find the fixed rate, adjustable rate, or interest only option that will still allow you to save money.

FHA-endorsed loans allow for a reduced down payment (as low as 3.5 %!!) which can help you purchase your dream home sooner. If you already have an FHA loan, an FHA streamline product is a quick and easy process, where we may not even need an appraisal!

Fannie Mae and Freddie Mac have released the latest guidelines of their respective HARP programs. These programs allow borrowers, who were previously unable to refinance due to lower property value, the opportunity to do so at this time. If you are in this situation, a HARP loan can be the difference between keeping and selling your home.

If you would like to build your own home or make any major improvements to your current home, a low interest construction loan may be the perfect product for you.

For our wonderful veterans, a VA loan allows you to purchase a new home with 0% down, as well as an overall lower rate (compared to conventional loans). If you are a veteran, this is the ideal product for you.

If you are ready to buy a home but are worried about the down payment, we can help you find a solution with a down payment assistance program.

If you prefer stability for stability, a fixed rate loan is the best choice for you. 10, 15, 20, or 30-year loans that have consistent monthly payments that will never change, regardless of market status, so you know just what to expect each month for the life of your loan.

An adjustable rate mortgage (or ARM) is ideal for homeowners that are planning to sell their property in the next 5, 7, or 10 years. These types of loans are available as either interest-only or fully amortized.

If you have a strong asset portfolio but do not have a qualifying monthly income, this option allows your liquid assets to be calculated as monthly income, thereby concurring with qualification guidelines.

For borrowers 62 years of age and older, a popular option is a reverse mortgage whereby equity in the home can be obtained in the form of cash to assist with other debts. If you are interested, please contact us for more information.

If your situation requires a more tailored product, please do not hesitate to contact us as we have other individuals we can refer you to.

LOAN PRODUCTS

Whether you are buying your first home or purchasing a property to add to your portfolio, Back Bay Funding and our lenders have many product specialties and rate incentives to help you close on time.

Refinancing your existing loan can bring relief to your financial outlook, whether you would like to reduce your interest rate, obtain cash/equity from your home’s current value, or changing a mortgage product (e.g. adjustable rate to a fixed rate).

If your loan is currently services by Fannie Mae or Freddie Mac, Back Bay can help find you the lowest mortgage rate in today’s market.

For a loan over county limits ($625,500 in Los Angeles/Orange counties, $580,750 in San Diego for example), we can find the fixed rate, adjustable rate, or interest only option that will still allow you to save money.

FHA-endorsed loans allow for a reduced down payment (as low as 3.5 %!!) which can help you purchase your dream home sooner. If you already have an FHA loan, an FHA streamline product is a quick and easy process, where we may not even need an appraisal!

Fannie Mae and Freddie Mac have released the latest guidelines of their respective HARP programs. These programs allow borrowers, who were previously unable to refinance due to lower property value, the opportunity to do so at this time. If you are in this situation, a HARP loan can be the difference between keeping and selling your home.

If you would like to build your own home or make any major improvements to your current home, a low interest construction loan may be the perfect product for you.

Our loan modification division works with you to help modify your existing loan to a more manageable monthly payment.

For our wonderful veterans, a VA loan allows you to purchase a new home with 0% down, as well as an overall lower rate (compared to conventional loans). If you are a veteran, this is the ideal product for you.

If you are ready to buy a home but are worried about the down payment, we can help you find a solution with a down payment assistance program.

If you prefer stability for stability, a fixed rate loan is the best choice for you. 10, 15, 20, or 30-year loans that have consistent monthly payments that will never change, regardless of market status, so you know just what to expect each month for the life of your loan.

An adjustable rate mortgage (or ARM) is ideal for homeowners that are planning to sell their property in the next 5, 7, or 10 years. These types of loans are available as either interest-only or fully amortized.

If you have a strong asset portfolio but do not have a qualifying monthly income, this option allows your liquid assets to be calculated as monthly income, thereby concurring with qualification guidelines.

For borrowers 62 years of age and older, a popular option is a reverse mortgage whereby equity in the home can be obtained in the form of cash to assist with other debts. If you are interested, please contact us for more information.

For borrowers that are close to the retirement age, a popular option is a reverse mortgage whereby equity in the home can be obtained in the form of cash to assist with other debts. If you are interested, please contact us for more information.

If your situation requires a more tailored product, please do not hesitate to contact us as we have other individuals we can refer you to.