The Central Coast’s most trusted local lender just got even more local.
Central Coast Lending is proud to announce that we are now a direct lender, adding yet another option to our extensive loan program portfolio.
As direct lenders, we control the loan process: loans are underwritten, processed, and funded locally.
President Obama signed the 2014 Farm Bill on February 7th in East Lansing, Michigan. The final iteration of the bill included compromise budgets for issues such as farm subsides and food stamps. The $956 billion farm bill also extended and expanded funding for the USDA loan program.
Central Coast Lending offers finance for Pre-HUD built manufactured homes.
Pre-HUD refers to manufactured homes that were built prior to July of 1976, at which time the Department of Housing and Urban Development (HUD) released a building code for such properties. Our mortgage program offers finance to manufactured homes built from 1970 to present.
Central Coast Lending is proud to be one of very few lenders in San Luis Obispo County to offer finance for property designated as “chattel,” which includes mobile homes and manufactured homes that are not affixed to a permanent foundation. [Click here for more information on the program.]
Program Includes unique financing options for manufactured and mobile homes
Central Coast Lending is proud to in of very few lenders in San Luis Obispo County to offer financing for property designated as “chattel,” which includes mobile homes and manufactured homes that are not affixed to a permanent foundation. [Click here for more information on the program.
Central Coast Lending has expanded its loan program offerings to include a new class of manufactured and mobile home properties. Finance for these types of properties is extremely rare on the California Central Coast and San Luis Obispo County.
Central Coast Lending will be closed Monday, October 14 for Columbus Day. We will resume regular business hours Tuesday, October 15.
Central Coast Lending’s very own Dan Podesto and Jason Grote will be special guests on the Dave Congalton show this afternoon from 3:00-4:00pm on KVEC 920!
They’ll be joined by Greg Astle of Remax Morro Bay, and will be discussing a variety of topics, including whether or not they think Fannie Mae and Freddie Mac should continue, or be replaced by new programs.
Tune in to KVEC 920 TODAY from 3:00-4:00pm, or listen online HERE.
Construction loan specialist Doug Levine has joined Central Coast Lending and will work out of its Paso Robles office at 1921 Spring Street.
Prior to entering the lending business, Levine worked in the construction industry. He credits his time as a builder with giving him a unique view of the lending business.
“I saw the benefit with getting involved with everything from building and sales, to funding” said Levine.
With his experience, Levine serves as an adviser for every stage of the home building process, including design, land acquisition, finance, and building.
Over the past 20 years, Levine has focused on home loans. He founded Sierra Pacific Mortgage Services basing his business around San Jose, Los Gatos, Monterey, Carmel, and Lake Tahoe.
Today, Levine sees potential in the Central Coast market.
“The Real Estate market is coming back and new construction homes are becoming very popular and attainable ,” he said. ”Both owner-occupied construction loans and even spec or investor loans are now available.”
Levine has been visiting the Central Coast for over 25 years, and is happy to now call Paso Robles home.
SAN LUIS OBISPO – Central Coast Lending offers Fannie Mae loans to borrowers who went through a short sale after two years have passed.
Borrowers with “extenuating circumstances” can get a conventional loan with a 10% down payment. Extenuating circumstances typically refer to illness of the primary borrower, spouse, or children.
If the short sale was a result of financial mismanagement, borrowers must put down 20%.
A short sale occurs when the borrower sells the home for less than the balance on the mortgage and returns the proceeds to the lender. The process happens when the borrower cannot make monthly mortgage payments and the lender accepts a lower return on the loan.
To qualify for a loan after a short sale, borrowers will need to rebuild credit during the two-year waiting period and show why the original short sale process occurred. To claim extenuating circumstances, borrowers will need to provide extensive documentation.
Fannie Mae and Freddie Mac set the standard for “conventional” loans, which are among most popular in the industry. The most well-known conventional loan programs are the 30-year fixed, 15-year fixed, and 30-year high balance.
Central Coast Lending is specially approved to offer this post-short sale mortgage program. Call 805.543.LOAN or email [email protected] with any questions.