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Loan Programs in San Diego, CA

The following is a list of some of the programs offered by Brookstone Mortgage Corp. For a complete list please call us at 858-722-3206.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Conventional Fixed Rate Mortgages (FRM)

Conventional fixed rate loans feature a constant interest rate for the life of the loan. The monthly payments remain the same.
Borrowers are usually expected to pay a 20 percent down payment, however this is not always required.
Terms generally range from 10 years, 15 years, 30 years and 40 years.

Adjustable Rate Mortgages (ARM)

Adjustable rate mortgages are loans where the interest rate is recalculated yearly based on market values. This means monthly payments vary.
While interest rates on ARM loans are generally lower than fixed rate loans they can eventually become higher.
Contact us for more information on adjustable rate mortgage loans.

Refinance Mortgage Loans

Refinancing is a one way homeowners can decrease their interest rates. Refinancing use funds from a new mortgage loan to pay off the original mortgage loan. The homeowner is then bounded to the new mortgage terms. Refinancing can assist in switching from an ARM loan to a FRM and in some cases reduce your loan term.

FHA Mortgage Loans

FHA loans are private loans insured by the federal government. With a FHA loan, borrows who can't afford to pay 20% down only have to pay 3% down to qualify. Borrowers are required to pay mortgage insurance which slightly increases their monthly payments.
Lenders who offer these loans must be approved by the Department of Housing and Urban Development.

VA Mortgage Loans

VA loans are private loans insured by the federal government. VA loans are only for qualified military veterans and their families.
VA loans are only available for qualified individuals for their own primary residences and cannot go over a $417K loan limit.

Jumbo Loans

A jumbo loan usually means any home loan for amounts higher than $417K. The loans also feature fixed rates and adjustable rate programs. The difference between jumbo loans and conforming loans is the interest rate.
Learn more about jumbo loans by contacting us today.

Construction Loans

Construction loans are used to finance the construction of a new structure. If you're interested in building a new home for you and your family, or construct a commercial property we can assist you. Each loan is as unique as shaped to your needs.

Home Equity Loans

Home equity loans call for the borrower to acquire a new loan on an already mortgaged property using the equity you've built as collateral. These loans are reserved for those looking to pay down medical or consumer debt, start a business or pay tuition. Call us for more information on these loan types.

Reverse Mortgage Loans

Reverse Mortgages or (Home Equity Conversion Mortgages HECMs) are unique home equity loans for homeowners of 62 years of age or older. They allow individuals to borrow against the equity that they have built up over years of paying down the mortgage on their home to supplement their retirement income. For more information on reverse mortgage visit the Consumer Financial Protection Bureau website