30-Year Term – Our most popular loan that requires a 5% down payment. The interest rate is fixed, and will not change during the 30 years. High balance loans (over $417,000) are also available for the 30-year term.

10-Year, 15-Year and 20-Year Terms – These loans offer the same features as a traditional 30-year term, but a shorter repayment term so you can build equity or pay off your loan faster.

30-Year ARMs – These loans start off with a fixed rate for the first few years, then begin adjusting up or down for the remainder of the 30-year term. The 3/1 ARM is fixed for the first three years, then adjusts annually for the remaining 27 years. The 5/1 ARM is fixed for five years, and adjusts for the remaining 25 years. The 7/1 ARM is fixed for 7 years, then adjusts for the remaining 23 years. High balance loans (over $417,000) are also available for the 5/1 ARM.

30-Year FHA – FHA is a government-insured fixed-rate loan that requires a 3% down payment that can be a family gift. FHA also allows the seller to contribute up to 6%. Loan amounts up to $1 million!

15-Year FHA - These loans offer the same features as a traditional 30-year term, but a shorter repayment term so you can build equity or pay off your loan faster.

3/1 Treasury ARM FHA – These loans are fixed for the first three years, then adjusts annually for the remaining 27 years. Loan amounts up to $1 million!

30-Year VA – VA is a government-insured fixed-rate loan for veterans and active-duty military personnel. These loans have a maximum 100% LTV on purchases and 90% LTV on refinances.

2/1 Buy-Down – These purchase loans allow the buyer, seller, lender or another interested party to pay an upfront fee to lower the interest rate for the first year by 2%, and the second year by 1%. The interest rate returns to normal for the remaining 28 years! Available for Conforming 30-Year Fixed and FHA 30-Year Fixed.

30-Year Fixed Jumbo - These loans must be $50 over the conforming limit per county to a maximum of $1 million. The interest rate is fixed for the life of the loan and requires a minimum 5% down payment.

5/1 LIBOR ARM Jumbo - These loans start off with a fixed rate for the first five years, then begin adjusting up or down for the remaining 25 years. These loans require a minimum 5% down payment.

Reunion Mortgage is a selected California lender for Fannie Mae's HomePath mortgage, available only for borrowers purchasing Fannie Real Estate Owned Properties (REOs).

• Up to 95% financing for owner occupied
• Up to 90% financing for 2nd homes
• Up to 85% financing for investment properties
• No mortgage insurance (over 80% LTV requires a 660 credit score and additional fee)
• Minimum 620 credit score
• 1 to 4 units, condo, PUD
• No appraisal required (the sales price will be used to determine value)
• Gifts for down payment, closing costs allowed
• Maximum loan amounts:
  • 1-unit = $417,000
  • 2-unit = $533,850
  • 3-unit = $645,300
  • 4-unit = $801,950
• Up to 90% financing for higher loan balances in high-cost areas (up to $1 million for 4-unit)
• 10-year, 15-year, 20-year and 30-year fixed-rate terms
• Borrowers purchasing a 2nd home or investment property with maximum 75% LTV/CLTV can own up to 10 financed properties

Click here to search Fannie Mae HomePath REO properties in CA!

HomePath is a registered trademark of Fannie Mae. This information is not a commitment to extend customer credit. Additional lender and third party fees may apply. Rates and terms are subject to change without notice.