Giving Back To Those Who Give So Much

It’s time someone said “Thank You” for all the great things you do for us. Find out which programs are available to you, how much you qualify for, and how your program benefits will save you between $1993 – $7549 in out-of-pocket costs. Whether you’re ready now or 6 months from now, schedule an appointment with one of our advisors, below.

Giving Back To Those Who Give So Much

It’s time someone said “Thank You” for all the great things you do for us. Find out which programs are available to you, how much you qualify for, and how your program benefits will save you between $1993 – $7549 in out-of-pocket costs. Whether you’re ready now or 6 months from now, schedule an appointment with one of our advisors, below.

Giving Back To Those Who Give So Much

It’s time someone said “Thank You” for all the great things you do for us. Find out which programs are available to you, how much you qualify for, and how your program benefits will save you between $1993 – $7549 in out-of-pocket costs. Whether you’re ready now or 6 months from now, schedule an appointment with one of our advisors, below.

Giving Back To Those Who Give So Much

It’s time someone said “Thank You” for all the great things you do for us. Find out which programs are available to you, how much you qualify for, and how your program benefits will save you between $1993 – $7549 in out-of-pocket costs. Whether you’re ready now or 6 months from now, schedule an appointment with one of our advisors, below.

Giving Back To Those Who Give So Much

It’s time someone said “Thank You” for all the great things you do for us. Find out which programs are available to you, how much you qualify for, and how your program benefits will save you between $1993 – $7549 in out-of-pocket costs. Whether you’re ready now or 6 months from now, schedule an appointment with one of our advisors, below.

Get awarded for your occupation

Find Home Ownership Programs We Offer

We provide real solutions to for today’s housing market to educators, healthcare professionals, first responders, active/retired military, and first time homebuyers.

 

Teachers &
Educators

All Classroom, Admins, Aides, and District employees welcome.
 

Military
 

Active, Reserve,
or Retired
 
 

Healthcare
 

Any employee of a Healthcare company,
Physical or Mental Health included

First Responders
 

Police, Firefighters,
EMTs, & Paramedics
 
 

New Home Buyers
 

Special Programs
for 1st Time Home Buyers
 
 

Fast and Easy Application Process

We provide real solutions, planning, and partnerships from professional consultants for those looking for advice and guidance through the home buying process.

 

Set an Appointment

 

One of our licensed reps will walk you through loan programs, terms, or future planning.

 

Find a Home

 

You will be partnered with our network of top rated professionals.

 

Close the Deal

 

You can be a homeowner within 45 days of your appointment.

 

Calculate Your Loan

Amortization Calculator
$
 

Some of Our Awesome Testimonials

 

 

We are very happy with our experience with Charis Loans, Especially Chris, He is very professional, helpful, and kept us informed from the start of buying the place and till we had our perfect HOME. The process is very fast. I would absolutely recommend Charis Loans to anyone.

C.C.

The process of buying your first home can be very stressful. However, Chris Diaz from Charis Loans made the process very easy and smooth for both my husband and I. Chris was very professional, responsive, and informative. He was very patient explaining all the long documents to us which really helped during the process. Chris and his team are wonderful to work with. We would recommend Charis Loans to anyone.

K.T.

I would highly recommend Charis Loans to anyone. They are on top of their game, and will make sure you know what you’re signing and help you through the long process of buying a house.
 
 

C.I.

Frequently Asked Questions

Our mission is to deliver reliable, latest news, and opinions.

 

If I don’t have a down payment can I still buy a home?

Yes, there are loan programs out there which will allow for you to buy a home with no down payment. Keep in mind that you’ll have to have decent credit (above a 640 score) and that the qualifications are more strict than other types of loans.

What if I’m just starting out the process?

That’s great! Buying a home is an exciting thing and we’d love to be a part of the process with you. Our goal is to work within your timeframe and comfort level. If you’re looking to do something soon, we will work quickly. If you’re just trying to get an idea for what you’ll need to do in 6 months or even 2 years from now, we can put a plan together for you.

What are the most important things needed to qualify?

There are 3. Credit, Income, and Down Payment amount are the three most important factors when qualifying for a loan. Your credit score/history could be considered the most important. Having good to excellent credit opens the door to elite pricing, allowing you to qualify for more. Income is also a crucial item because underwriters will use your “debt to income ratio” (total of house payment, car payment, student/personal loans, & credit cards divided by your monthly income) as one of the primary means of qualifying you. Take your monthly income and divide it in half; now subtract your credit debts, what’s left is an approximation of the max amount your total mortgage payment can be. The amount you have for a down payment isn’t as important as the others because we offer programs for any down payment amount, including 0%.

Are there advantages for 1st time homebuyers?

There can be. The 0% down payment program is for people who haven’t owned a home for the past 3 years. The terms are stricter, though, than if you had a down payment. Keep that in mind for qualification purposes. You will qualify for a higher purchase price with a down payment versus without one.

Are there different rules based on where I want to buy?

There absolutely are. Every county has a set up loan limits for both conforming and FHA loans. Here is a link where you can see both: http://www.loanlimits.org/california/ Generally speaking, LA and Orange Counties use the same limits and are higher than other counties here in Southern California. Riverside and San Bernardino Counties are on the lower end, and come with additional needs if they are to be exceeded. This is a very crucial subject as the cap for an FHA loan in Orange County is almost $300k greater than what is allowed in Riverside County. Please take the time to look at the link provided.

Do you offer any loan programs that nobody else does?

The loan and real estate industries are so highly regulated now that if anyone is offering something that nobody else is, can be considered a red flag. Our approach and benefit is that we partner you up with highly skilled and experienced professionals who all believe in giving back to you.

Find Out About Mortgage Loan Programs 

We provide real solutions to today’s housing market for educators, military, healthcare professionals, first responders, and new home buyers

VA

Min FICO: 620

Max LTV: 100%

No PMI

County based loan limit rules
No manufactured homes
Max Debt to Income of 55%

Down Payment Assistance

Min FICO: 640

Max LTV: 105%
(100% plus closing costs)

0% Down Payment

Not just for 1st time home buyers.
Multiple options, both state and privately funded.
Income limits apply per county.

 

CONFORMING

Min FICO: 620

Max LTV: 95%

PMI Factor: .25% – 1.25%

Need a 680 or > score to go up to 95%
Max Debt to Income is 50%
Past Bankruptcy needs to be discharged for 4 years
Refinancing may not need an appraisal

HOME READY/HOME POSSIBLE

Min FICO: 620

Max LTV: 97%

Competes with FHA

Max Debt to Income between 45-50%
Income restrictions based on location – Contact Us
Needs HUD Approved Counseling

JUMBO

Min FICO: 680

Max LTV: 90%

Loan Amounts up to $3 million

No PMI over 80% LTV
Need 10% Down Payment
Max Debt to Income Ratio of 43%

 

FHA

Min FICO: 580

Max LTV: 96.5%

Debt to Income Ratio 55%

Some HOAs are not FHA approved
Better credit flexibility than conforming
More expensive than conforming
PMI is .80% if putting down 5% or >,
.85% if < than 5%

ADDITIONAL INFO:

LTV means Loan to Value ratio

Take the Loan Amount divide by House Value ($400k loan/$450k value = 89% LTV)

DTI means Debt to Income

Take your total pretax, monthly income, multiply by the max DTI listed above. Subtract out minimum monthly payments on credit debts for Cars, Student Loans, Personal Loans, & Credit Cards. The remainder is your max mortgage payment, use the loan calculator to estimate purchase price

PMI means Private Mortgage Insurance
(See PMI Chart in Loan Calculator)

To Calculate PMI: Take the Loan Amount and multiply by the MI Factor (not the coverage %), then divide by 12, that is your monthly amount. This figure varies based on FICO score, LTV, and Loan Program

DRE: 01943326

NMLS: 1133665

Copyright 2020 All Rights Reserved
to California Real Estate Advisory

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Contact Us

 

135 S State College Blvd, Suite 200
Brea, CA 92821

+1 714-400-2199

info@careadvisorynetwork.com