Griffin Funding, a San Diego-based mortgage company, is now providing services to Coronado Island. Griffin Funding is known for its various home loan options with competitive interest rates that help borrowers achieve their dream of home ownership.
“We will also be focusing on VA loans and non-conforming jumbo loans. Coronado is a huge military center, so many veterans need help getting the best options for their home loans. This charming community is also home to many great, gorgeous homes, which will require non-conforming jumbo loans, ”said Bill Lyons, CEO of Griffin Funding.
The most popular Griffin Fundings Veterans Affairs (VA) loans are:
VA buys home loans for veterans – Griffin Funding’s team of VA specialists prepares a comprehensive analysis for each client. Griffin has excellent experience working directly from the guidelines in the VA loan manual, with fewer overlays or restrictions than most mortgage companies.
VA Streamline Home Refinance Loan – A VA IRRRL (Interest Rate Reduced Refinance Loan) is a refinanced mortgage that replaces your current VA home loan. A VA IRRRL is also commonly referred to as a VA simplified refinance. This mortgage program is backed by the Department of Veterans Affairs (VA) just like an original VA home loan, but with a new lower rate.
VA Withdrawal Refinance Loan – A VA Withdrawal Refinance Loan is a type of loan guaranteed by the Department of Veterans Affairs. Like other refinance loans, a VA refinance allows you to replace your current mortgage. By taking the equity in your home and turning it into cash, you can use that money to pay off other debts and improve your financial situation, cover emergency expenses, or make improvements to your home.
Jumbo home loans are necessary for home buyers looking to buy or refinance a luxury home well above the standard value of a home in your county, which is typically $ 548,250 for most counties. This is because these types of housing exceed the conventional conforming loan limits set by the Federal Housing Finance Agency (FHFA), which disqualifies them from traditional financing options. While jumbo home loans are designed for those looking to buy high value homes, they also usually come with more stringent requirements that make them more difficult to obtain. Griffin Funding offers jumbo loans with a down payment of only 10%.
“San Diego County has a limit of $ 753,250, so even if there is a high limit, many home buyers in Coronado would normally be forced to deal with the bigger banks,” Lyons explains. “A lot of times with the big banks you have a longer waiting period, less flexibility, and you don’t get the expertise of a seasoned mortgage advisor, so most buyers end up buying all cash. We believe luxury home buyers shouldn’t just pay for their home in cash or go through a major bank. “
Griffin’s Coronado branch is run by Coronado native Colby Freer and his counterpart Sarah Howell. “I am so excited to have these two knowledgeable women representing our brand in my hometown of Coronado,” said Lyons.
Founded in 2013, Griffin Funding currently operates in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Maryland, Michigan, Montana, Tennessee, Texas and Washington.