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Loan Programs

We know in today's fast-paced world you want to do business anytime and anywhere. With a few simple clicks you can access you loan information, make a payment, setup automatic draft payments, update your escrow information and much more. Register now for quick, easy access for all your mortgage servicing needs.

FHA Loans
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Insured by the Federal Housing Administration, FHA home loans are government-assisted alternatives to conventional financing, and were originally offered by FHA lenders to first-time home buyers with imperfect credit. Now, FHA loans are open to a wider audience.

Overall, FHA mortgage loans provide more flexibility in credit, income and down payment requirements. They do include a Mortgage Insurance Premium (MIP), as well as monthly mortgage insurance, but a fixed rate FHA loan enables many homeowners who wouldn’t qualify for conventional financing to purchase.

VA Guaranty
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As a VA mortgage lender approved by the Veterans Administration (VA), Sierra Pacific Mortgage is authorized to offer special home loan programs for active military and veterans. These programs are guaranteed by the VA and offer advantages not available to the general public.

Our loan officers can provide you with current VA mortgage rates today and help you take advantage of these programs. This program is available to retired military or those currently serving in the armed forces. Benefits can also extend to spouses. See a loan officer more details.

USDA Loans
A beautiful house with a white picket fence.

A USDA loan (Section 502) is a home loan that is guaranteed by the United States Department of Agriculture. It typically offers very low and competitive interest rates on home loans to borrowers with no down payment requirements. The USDA Home Loan Program was made available to borrowers with excellent financing terms and flexible credit guidelines to give people an incentive to populate rural areas.

Since the USDA Loan offers 100% financing to buyers and closing costs can be paid by seller or rolled into the loan, homebuyers usually do not have to bring any funds to closing.

There are a few requirements that must be met to be eligible for a USDA Home Loan. Talk to one of our Loan Officers today to learn more.

Conventional Loan
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A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.

Conventional loans may be cheaper overall but require good credit. Mortgage insurance may also be required with conventional loans if a down payment is below 20%.

Contact your loan officer for a private consultation and compair loan programs when shopping for the right mortgage solution.

Jumbo Mortgage
A living room inside a large spacious house.

If you're looking for a home loan in a high-valued county (above $417,000), then have no fear because we may have a loan for you! With Sierra Pacific Mortgage's Jumbo loan programs, you can borrow up to $5 million to purchase a new home or refinance your existing residence.

As a well-versed lender in this specialized loan program, we offer a variety of mortgage options with competitive Jumbo mortgage rates, including a cash-out refinance. Contact a Loan Officer today about purchasing or refinancing a luxury home today. Your dream home is only a call away.

Nationwide High Balance
A row of beachside houses raised up high above the sea level.

If you are looking to purchase your new home or refinance your current one but want to avoid a jumbo loan, we have the perfect solution. The Adventum Nationwide High Balance loan bridges the gap between a conventional loan and a jumbo, allowing borrowers to finance past their local loan limits without the nuances of a jumbo product. With loan amounts up to $726,525 and low down payment options, the Nationwide High Balance loan could be the perfect solution for your unique financial situation.

Contact your local loan officer for a private consultation.

Investment Homes
A large vacation home on top of a cliff overlooing the ocean.

You may be interested in buying an investment property if you want to diversify your holdings beyond stocks and bonds. Investment property loans typically have higher interest rates, larger down payments, and different approval requirements. Also, you may have other expenses to consider, such as homeowners association dues, cleaning services, flood insurance, and utilities.If you’re ready to borrow for a residential investment property, these three tips can improve your chances of success.

1. Make a sizable down payment. Since mortgage insurance won’t cover investment properties, you’ll need to put at least 20 percent down to secure traditional financing. If you can put down 25 percent, you may qualify for an even better interest rate.

2. Be a ‘strong borrower’. Although many factors — among them the loan-to-value ratio and the policies of the lender you’re dealing with — can influence the terms of a loan on an investment property, you’ll want to check your credit score before attempting a deal.

3. Shy away from big banks. If your down payment isn’t quite as big as it should be or if you have other extenuating circumstances, consider going to a neighborhood bank for financing rather than a large national financial institution.

Vacation Homes

Buying a vacation home is a bit like getting married: After enjoying the destination as a casual visitor, it's time to make a long-term commitment and settle down.
Choosing where to buy depends largely on where you live, what you can afford, and whether or not you will rent out the property when you're not using it. So before saying "I do," give some serious thought to these core issues:

1. How will you get there? Proximity to your home is especially important if you plan to visit the property frequently. Much as you loved your trip to Fiji, you're not likely to fly to the South Pacific for a three-day weekend.

2. Will you need rental income? Most owners of vacation homes do not rent out their properties, but if you can't quite make the mortgage payments without some rental income, it's best to choose a popular destination where demand for short-term lodging is high. Experts say the most desirable spots are near oceans, lakes or rivers, or at mountain recreation areas.

3. Will the location suit your future lifestyle? While vacation homes can gain value over time, most buyers settle on a property they'll enjoy for many years to come. Planning for long-term enjoyment can mean buying a place that's big enough for a growing family, or choosing an area with a range of recreational opportunities to accommodate evolving interests.