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Loan Programs
Know your options.

Mortgage Loan And Rate Options for Bakersfield

Following Loan Programs are available for Bakersfield mortgage home loan:

Conforming Loan - These loans are so called because they “conform” to the guidelines of Fannie Mae/Freddie Mac. You can qualify for loan amounts to $417,000 with 5% down payment and 10% down payment for High Balance (Agency Jumbo) programs.

FHA Loan - You can buy a Bakersfield home with as little as 3.5% down using an FHA loan. You can also refinance  up to 97.75% of your home value. FHA Mortgages have flexible underwriting guidelines, low credit score requirements and you can accept gift for your downpayment and closing cost. FHA also offers streamline refinance for current FHA loans with no appraisal and income verification options.

VA Loan - If you are a veteran, member of the military or a surviving spouse of a veteran? You may qualify for a Veterans Administration (VA) loan and get up to 100% financing for both your home purchase and refinance. VA IRRL (Interest Rate Reduction Refinance Loan) offers a streamlined refinance options if you currently have a VA loan.

Jumbo Loan - These loan programs are available if your loan amount exceeds the current conforming and FHA loan limits for Bakersfield. You can get up to 80% financing. Expect the mortgage rates to be higher than the conforming and FHA mortgages.

30 Year Fixed Rate - If you plan to stay in your Bakersfield home for a long time, 30 Year Fixed mortgage is a good option for you. This also offers a peace of mind that your mortgage payment will be consistent through the life of the loan.

15 Year Fixed Rate - Do you want to pay less interest and pay off your loan faster? 15 Year Fixed mortgage is a good option for you, assuming you are okay with making larger payments every month.

Adjustable Rate Mortgage (ARM) - If you want a low current rate and plan to move or refinance in next 5, 7 or 10 years, ARMs could be a good option for you. Since the rate is adjustable after the initial fixed period, this option is more risky than the fixed rate mortgages.

5 Reasons why you should work with Arcus Lending?

  1. Consistently better mortgage rates than big banks, saving you thousand of dollars in interest and closing cost
  2. Quick closings – most of our loans close in 30 days or less
  3. No closing cost option available – We offer no lender fees Purchase loans and no point, no cost refinance mortgages
  4. Transparent Process – We actively communicate with you through the loan process and guarantee our Good Faith Estimate (GFE) once you lock the rate
  5. Work directly with Shashank Shekhar, “Top 40 Under 40″ most influential mortgage professionals for two years in a row

Call us today at 1 (855) 644-LOAN to get started with your new Bakersfield mortgage or email us at info@arcuslending.com

Bakersfield City Guide

A city in San Joaquin Valley, Bakersfield is located in Kern County CA. It is the 9th largest city in CA and 52nd largest city in the U.S.
It is the most productive oil producing county and the 4th most productive agricultural county

Bakersfield is served by the Bakersfield City school district. Info on schools in the district can be found here

The Kern County Library serves Bakersfield. Info on the branch locations and hours can be found on their website.

Community Center: 2 Community Centers serve Bakersfield-

  • The Martin Luther King Jr. Community center
  • Silver Creek Community Center

Info on the centers can be found here.
The city offers many activities for kids, adults and senior citizens. To browse through the activities and register click here

Law and Order: The Bakersfield Police Department maintains law and order in the city. Visit their website for more details.

Parks and Recreation: The city boasts of 59 parks. Info on the parks and the amenities can be found here

The department of recreation and parks has various sports facilities including golf courses, soccer fields , hockey fields. More info can be found at their website. 

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