US | California | Sunnyvale Mortgage Lender
Sunnyvale MORTGAGE LENDER
Finding a great Sunnyvale, CA. mortgage lender will help you and your family acquire and finance residential real estate. The process of buying or refinancing a home can be complicated, but it does not need to be.
Hiring a professional is vital to ensuring you are getting the right loan that suits you and the results you are looking to achieve. There are a lot of mortgage loan options and a variety of lender types; however, working with a local mortgage lender in Sunnyvale gives you the best opportunity to secure a low rate and smooth transaction with a realistic closing timeframe.
Sunnyvale () is a city located in the Santa Clara Valley in northwest Santa Clara County, California.
Sunnyvale lies along the historic El Camino Real and Highway 101 and is bordered by portions of San Jose to the north, Moffett Federal Airfield and NASA Ames Research Center to the northwest, Mountain View to the northwest, Los Altos to the southwest, Cupertino to the south, and Santa Clara to the east.
As of the 2010 United States Census, Sunnyvale’s population was 140,095, making it the county’s second most populous city (after San Jose) and the seventh most populous city in the San Francisco Bay Area.
As one of the major cities comprising California’s high-tech area known as Silicon Valley, Sunnyvale is the birthplace of the video game industry, former location of Atari headquarters, and the location of a fictional computer game company in the 1983 film WarGames. Many technology companies are headquartered in Sunnyvale and many more operate there, including several aerospace/defense companies.
Sunnyvale was also the home to Onizuka Air Force Station, often referred to as “the Blue Cube” due to the color and shape of its windowless main building. The facility, previously known as Sunnyvale Air Force Station, was named for the deceased Space Shuttle Challenger astronaut Ellison Onizuka. It served as an artificial satellite control facility of the U.S. military until August 2010 and has since been decommissioned and demolished.
Sunnyvale is one of the few U.S. cities to have a single unified Department of Public Safety, where all personnel are trained as firefighters, police officers, and EMTs, so that they can respond to an emergency in any of the three roles.
Library services for the city are provided by the Sunnyvale Public Library, located at the Sunnyvale Civic Center.
Home Loans, VA Loans, Refinance and More…
Sunnyvale VA Loans (VA Loan Experts in Sunnyvale)
The VA loan is a 0% down payment mortgage loan available to active-duty service members, veterans, qualifying reservists and select military spouses. VA loans are funded by banks (“lenders”) and are partially guaranteed by the U.S Department of Veteran Affairs (commonly called “The VA”). There are a lot of myths about the VA loan which lead most people to believe the benefit can only be used one time (single-use benefit); however, that is untrue and there are many homeowners who have used their VA entitlement for a subsequent purchase or refinance. The home loan Certificate of Eligibility “COE” (VA Form 26-1880) will determine how much eligibility you have available to you for your purchase or refinance and can be request by your team Mortgage Heroes. It is important to know that VA loans have NO Private Mortgage Insurance (PMI) and tend to have lower interest rates compared to the conventional mortgage market.
Sunnyvale Conventional Loans
Conventional loans are the most widely used loans for residential real estate. Conventional loans are broadly offered by many banks and lending institutions throughout the country and are broken into two categories: Conforming and Non-Conforming. Conforming conventional loans follow guidelines set by Fannie Mae and Freddie Mac, while non-Conforming conventional loans can have looser or tighter guidelines depending on who the lender is. Commonly conventional purchase loans are believed to require 20% down payment; however, there are a variety of options available, and some can be funded with as little as 3% down.
Conventional refinances are offered as “Rate and Term” or “Cash Out” refinances. Rate and Term refinances are what they sound like, a refinance where the new loan’s rate and term changed, but the loan balance remains the same (except for closing costs, impounds and fees rolled into the new loan). Cash Out refers to the cash back that the homeowner receives because of taking out a new loan at a higher loan amount than what they currently owe. Simply put, this is home equity being taken from the value of the house and transferring it to the homeowners to use as they wish. People who do cash out loans typically consolidate debts, pay down or pay off debts all together, remodel part of their home, or make upgrades.
Sunnyvale FHA Loans
FHA loans are residential loans backed by the Federal Housing Administration. FHA loans are most commonly used by first time, or repeat, homebuyers who have minimal money for down payment. Down payment can be as little as 3.5% for a FHA purchase loan. Although these loans are still financed by banks and lenders, they are still backed by the Federal Housing Administration, and they do have mortgage insurance.
The FHA Streamline refinance is a change in the rate and term of the loan, similar to the conventional rate and term refinance. For homeowners who need to access their equity, FHA does also offer a cash out refinance program.
Local Service Areas
in Sunnyvale, CA.
- VA Loans
- Rate Refinance
- Cash-out Refinance
- FHA Loans
- First Time Mortgage
- Conventional Home Loan
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