Are you a teacher? Do you work the public school system? If you answered yes to either of these questions, there is a special loan program available to you that is sponsored by California’s State Teachers’ Retirement System (CAL STRS).
Here is how it works:
1st loan = 80% on a 30 year fixed note
2nd loan = 17% fixed rate
Down payment = 3% (you are allowed up to 2% in the form of a gift, balance of 1% is your responsibility)
AND.. you don’t have to make payments on the 2nd for the first 5 years!!
There is also a refinance option available (different terms).
For more answers on your loan questions you can contact Michael McClare
Residential First Mortgage
(949) 852- 0400 x217
For answers to your home buying or selling questions contact Adrienne
(714) 396-2819 or email@example.com