Home Loan Options for Bay Area Buyers

Whether you’re a first-time homebuyer, looking for ways to lower your payments through refinancing, or want to learn more about reverse mortgages, PRMI in San Francisco has the mortgage loan solutions to meet your needs. We offer competitive rates on a variety of loan products ranging from the conventional 15- or 30-year fixed loans to government-backed mortgages, ARMs, low- or no-down-payment loans, and more. Our experienced local team can advise you on the best mortgage solutions for your San Francisco home-buying or refinancing needs, help you understand the different options available, and process your loan efficiently.

We have a range of mortgage solutions to meet any need.

Construction Loans Click to open answer

Building your dream home is exciting, and a construction loan can help you get there. These loans provide funding a builder can draw on during home construction. Once the home is complete you will need to close on a permanent loan. Talk to our mortgage lenders about the details and how to qualify for construction loans in San Francisco.

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Refinancing Click to open answer

When mortgage rates drop or home values increase, you can refinance your mortgage to get a lower monthly payment or remove private mortgage insurance (which is required on some loans if you don’t put 20% down). Refinancing also allows you to shorten your payment terms to get your home paid off sooner or restructure your loan if you have an adjustable rate.

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Low-Credit-Score Loans Click to open answer

Buying a home typically requires a certain credit score, but if you have a low credit score (below 580) there may still be options available to get a mortgage loan. PRMI mortgage loan officers in San Francisco can review your credit and discuss your options based on the loans available.

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Down Payment Assistance Click to open answer

Having a down payment can help you get into the home of your dreams, and some mortgage loans are only available to buyers who have a down payment. We will help you find loan programs that allow you to purchase a home with no down payment required (such as a VA loan, for those who qualify) or find other programs that offer down payment assistance.

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Reverse Mortgages Click to open answer

A reverse mortgage can be a powerful tool to help older homeowners turn the equity in your home into cash. Reverse mortgages are only available to borrowers who are at least 62 years old, and can provide lump-sum cash payments, monthly payments, or a line of credit. There are specific requirements for reverse mortgages, and they are not right for everyone, so talk to PRMI today about whether it’s a good option for you.

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Mortgage Pre-Qualification Click to open answer

Determine how much home you can afford and show sellers you are serious about buying by getting pre-qualified for a mortgage. There are no obligations, and it requires just a quick review of your finances to identify how much you can qualify for, or steps you can take to get a better interest rate or be able to qualify for a bigger loan.

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VA Loans Click to open answer

Loans backed by the U.S. Department of Veterans Affairs (VA) and issues through private lenders like PRMI. They are only available to active duty military, military veterans, or widowed military spouses. These loans don’t require a down payment, and are typically easier to qualify for than other more traditional loans.

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FHA Loans Click to open answer

FHA loans are guaranteed by the Federal Housing Administration and designed for low- and middle-income homebuyers. They require only 3.5% down payment, and you can qualify for these loans with a credit score of 580 or higher. FHA loans are one of the most popular home loan options at PRMI San Francisco.

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USDA Loans Click to open answer

If the home you want to buy is in a qualified rural or suburban area, it may fall under the USDA Rural Development Guaranteed Housing Loan program. You do not need a down payment to qualify for these loans, and many offer low interest rate options for borrowers with a good credit score and whose household income falls under the limit for the area.

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Conventional Loans Click to open answer

Conventional loans are the best option when you have at least a 5% down payment and very good credit to qualify for a fixed-rate 15 or 30-year mortgage loan. These loans are backed by Fannie Mae or Freddie Mac and typically have the lowest interest rates available.

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