Greenback Funding

read moreAt Greenback Funding, our mission is to set a high standard in the mortgage industry. We are committed to quality customer service - putting the people we serve first. Our goal is to carefully guide you through the home loan process, so that you can confidently select the best mortgage for you and your family from the many mortgage options that are available today. After you select the loan that is best for you, we will work continuously on your behalf to help you achieve your dream of homeownership.

read moreFHA insured mortgages are some of the best kinds of mortgages available. This is because they can help more people into the home buying market. Check out the list below to understand some of the most basic benefits of an FHA mortgage. Easier to Qualify for - because they're backed by the federal government lenders are more likely to give you the kind of loan that you need. Low Down Payment - FHA insured mortgages only require a 3.5% down-payment which makes it easier for people to own homes. Additionally the 3.5% can come in the form of gifts, unlike many other loan programs.

read moreAt Greenback Funding we want to help you understand how a FHA mortgage loan works. In all actuality the Federal Housing Administration (FHA) doesn't loan any money, they insure it. This means that you're considered to be a less risky borrower than someone who might not have the backing of the federal government. Our role is to make sure that you qualify for an FHA mortgage and structure our loan to reflect it. The other pages in the FHA loan center can help you understand more about this unique program.

read moreThe pre-approval process is much more complete than pre-qualification. For pre-qualification, the loan officer asks you a few questions and provides you with a pre-qual letter. Pre-approval includes all the steps of a full approval, except for the appraisal and title search. Pre-approval can put you in a better negotiating position, much like a cash buyer. Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.

read moreAt Greenback Funding, we offer a variety of lending products to meet the varied needs of each of our customers. Many borrowers mistakenly assume that a poor credit score will keep them from getting a loan. However, we recognize that you are more than your credit rating. We have solutions that take other factors into account and give you the chance to rebuild your credit and move on with your life.

read morePre-qualification starts the loan process. Once a lender has gathered information about a borrower's income and debts, a determination can be made as to how much the borrower can pay for a house. Since different loan programs can cause different valuations a borrower should get pre-qualified for each loan type the borrower may qualify for. In attempting to approve homebuyers for the type and amount of mortgage they want, mortgage companies look at two key factors. Ability to repay the mortgage is verified by your current employment and total income.

read moreWe will request documents only after you have (1) received a Loan Estimate and a Home Loan Toolkit, and (2) you have provided us with your verbal or written "intent to proceed" with the mortgage application. Before receiving the requested documents we may ask you to provide us with Information that will help us to evaluate your potential application for a mortgage loan.

read moreThe following is a partial list of programs offered by Greenback Funding with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 805-582-9400. This option allows you to make interest only payments for a specified amount of time. If you make more than the interest only payment your minimum payment will go down with the balance of your mortgage. This option come in handy if you want to pay down the mortgage and see an immediate benefit to your minimum monthly payment.