Mission Statement

At Tri-Star Home Loans, we believe in honesty and integrity. We treat all of our customers with the respect they deserve. We treat them as one of the family!

                

 

Tri-Star Home Loans offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Government Loans
Conventional
VA
Reverse Mortgage
CalHFA

Government Loans

FHA backed loans are again becoming the most common home loan chosen by homebuyers.  The reasons are many.  FHA backed loans offer very good fixed and arm rates, yet only require a minimum down payment of 3.5%.  This loan allows non-occupant co-signors as well as flexibility in working with borrowers with some credit issues.

FHA loans are also an option for refinancing.  In most cases, a current FHA loan can be streamline refinanced into a lower rate with very little costs, and no appraisal needed.

 


Conventional

A conventional loan is any mortgage that is not guaranteed or insured by the federal government. A conventional loan is generally referring to a mortgage loan that follows the guidelines of government sponsored enterprises (GSE's) like Fannie Mae or Freddie Mac.

Conventional Loans require the home buyer to invest at least 5% - 20% of the sales price in cash for the down payment and closing costs.


VA

VA loans are backed by the Department of Veterans Affairs (formerly the Veterans Administration), and are available to qualified veterans and active-duty military personnel and their spouses. They provide many of the same features as FHA loans.

VA loans may be right for veterans with:

  • low- or moderate-income
  • limited funds for down payment


VA loans provide these features:

  • A no down payment option
  • Flexible income, debt and credit requirements
  • Down payment and closing costs that may be funded by a gift or grant
  • A variety of fixed-rate and adjustable-rate loan options


Reverse Mortgage

A Reverse Mortgage is a loan that allows eligible senior homeowners age 62+ to convert a portion of their home equity into a stable source of tax-free supplemental cash flow. A Reverse Mortgage gives you the ability to enjoy financial security and peace of mind, while remaining in your home during your retirement years.

You also have the freedom to use the money you receive however you want:

  • Supplement your retirement income
  • Pay off an existing mortgage or other existing debt
  • Pay for medical care, prescription drugs and in-home care
  • Cover large or unexpected expenses
  • Make home improvements and repairs
  • Travel to visit family and friends or take vacations
  • Contribute to your grandchildren’s college education
  • Live a more comfortable lifestyle


CalHFA

FIRST MORTGAGE LOAN PROGRAMS

“First” mortgage loans are home loans with a 30-year term and an interest rate that remains fixed throughout the entire 30 years. This means that the interest rate will never change during the course of your loan, so you know what to expect from your first payment until you sell, refinance or pay off your loan in full.

DOWN PAYMENT ASSISTANCE PROGRAMS

The money you put "down" or the down payment on your home loan can be one of the largest hurdles for many first-time homebuyers. That's why CalHFA offers several options for down payment and closing cost assistance. This type of assistance is often called a second or subordinate loan. CalHFA's subordinate loans are "silent seconds", meaning payments on this loan are deferred so you do not have to make a payment on this assistance until your home is sold, refinanced or paid in full. This helps to keep your monthly mortgage payment affordable.

Most CalHFA down payment assistance programs do require, however, that you make a minimum contribution from your own funds. This borrower contribution is typically either 1% of the sales price of the home or $1,000, whichever is greater.

 





Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.