A purchase loan with a pre-approval that means something.
Sellers in Long Beach, Signal Hill and across Los Angeles and Orange County take offers that close. Troy reviews your credit, income and assets before he issues a letter, so your agent can send it with confidence.
- Programs placed
- Conventional, high-balance, jumbo, FHA, VA, CalHFA and local assistance
- Down payment
- Depends on the program; some start at 0% (VA) or 3.5% (FHA)
- Pre-approval
- Reviewed by Troy before the letter is issued
- Lends in
- California
How it works
A purchase loan is the mortgage that pays the seller when you buy. The program you use shapes everything after that: the down payment, the monthly payment, whether you pay mortgage insurance and how competitive your offer looks. Choosing it well is the first decision in the purchase, not the last.
Troy places purchase loans where they fit. Fannie Mae and Freddie Mac conventional financing for documented income; FHA and VA for buyers who want a lower or zero down payment; jumbo for homes above the county loan limit; CalHFA and local assistance when the down payment is the hurdle; and bank-statement or asset-depletion programs when your income does not look like a W-2.
Every pre-approval he issues has been reviewed by him first. That is the difference between a letter a listing agent trusts and a letter that gets a second look.
- First-time buyers who want the down payment and closing-cost picture explained once, in plain numbers
- Move-up buyers who need a purchase and a sale timed together
- Self-employed buyers who were told no by a bank
- Buyers using FHA, VA, CalHFA or a down-payment assistance program
- Buyers of condos and two-to-four-unit homes where rental income may help
Not sure you fit? Ask. Troy tells people on the first call when a different program serves them better.
What to consider
Program details vary by investor and change over time. These are the questions that decide whether the loan is right for you; Troy confirms the specifics for your file.
Down payment and reserves
Each program has its own minimum down payment and asks for a different cushion after closing. Troy maps your savings to the programs that work before you shop.
Loan limits
Conforming and high-balance limits are set by county and change each year. Where your price lands against them decides whether the loan is agency or jumbo.
Mortgage insurance
Conventional loans below 20% down and FHA loans carry mortgage insurance that works differently. The right choice depends on your credit and how long you plan to stay.
Offer timing
A pre-approval has a shelf life. Troy keeps your file current so an accepted offer moves straight to underwriting.
The process
From the first conversation to funding, you deal with Troy.
Talk with Troy
A short call with Troy about the property, the goal and how you earn. He tells you which programs fit before you send a document.
Pre-approval in writing
Troy reviews credit, income and assets and issues a pre-approval letter sized to the offer you want to make.
Offer accepted
The appraisal is ordered, conditions are cleared personally and you hear about every milestone from him.
Closing and funding
Signing is scheduled around you. Troy coordinates escrow so the loan funds on the date you planned.
Questions people ask
General answers. The answer for your file comes from a conversation with Troy, not from a web page.
How much do I need for a down payment?
It depends on the program. VA can be zero down for eligible borrowers, FHA starts at 3.5 percent, and conventional programs start at a low single-digit percentage. Assistance programs can cover part of it. Troy lays out each option with its monthly payment so you can compare.
Can I get pre-approved before I have an agent?
Yes. Many buyers start with Troy, and he can introduce you to agents he has closed with for years.
How long does a pre-approval take?
Once Troy has your documents, usually a matter of days. The first call tells you exactly what to send.
Do you lend on condos and multi-unit homes?
Yes, including two-to-four-unit properties where rental income may help you qualify. Pricing adjustments can apply to multi-unit property.
Related programs
Often considered alongside this one. Troy prices the alternatives so you can see them side by side.
Conventional
Fannie Mae and Freddie Mac financing with agency pricing for documented income, including high-balance for Los Angeles County.
FHA loans
Lower down payments and flexible credit guidelines for purchases and refinances, insured by the Federal Housing Administration.
Down-payment assistance
CalHFA and local assistance paired with an FHA, VA or conventional first mortgage to cover part of the down payment or closing costs.
Jumbo
Loan amounts above the county conforming limit for higher-value homes, with underwriting that reads the whole financial picture.
Talk it through with Troy.
No obligation and no credit pull on the first call. Tell him what you’re trying to do and he’ll tell you whether home purchase financing is the right tool, and what it would cost.