Golden State Escrow manages standard sales of residential real estate: FHA, VA, and Conventional loans.
We’ll work with all parties to prepare the escrow instructions and certify all sale conditions and agreements are completed within the allotted time period. We then verify each step with accuracy and professionalism.
Some Background for New Homebuyers
The Federal Housing Administration, a part of the US Department of Housing and Urban Development, began a loan insurance program in 1934. The goal was to help people afford homes by insuring the loan, making it easier for low-to-moderate income persons to qualify. This insurance allows private lenders to offer lower down payments, lower closing costs, and have easier qualifying credit requirements.
The United States Department of Veterans Affairs helps service members, Veterans, and eligible surviving spouses become homeowners. This loan helps these groups buy, build, repair, retain, or adapt a home for their own use. While eligibility requirements differ, this is a great loan to inquire about if you or your loved one has served or is serving in the US military. In most cases, a down payment is not required. There are lower interest rates, limited closing costs, and no need for Private Mortgage Insurance. This is also a lifetime benefit, and you can use it multiple times.
A loan that isn’t a part of a government program is called a “Conventional” loan. These loans are more difficult to obtain, but typically cost less than FHA loans. There are two main categories: conforming and non-conforming. Conforming have a maximum loan amount which is set by the government. Non-conforming loans are less standardized, so eligibility, pricing, and features vary depending on the lender.
Whatever your loan type, Golden State Escrow manages escrow with accuracy, trust, and professionalism.