First National Bank of Northern California offers traditional and non-traditional mortgage products with a variety of structures to fit most needs. All residential loans funded at First National Bank of Northern California are portfolio loans (bank owned and serviced) and we are able to set our own lending guidelines. While we only lend to credit worthy borrowers, our lenders take a common sense approach to underwriting. If your situation is unique or complicated, our experienced lenders will work with you to ensure that we make every effort to understand your situation in order to provide you with the best financing option to fit your needs.
Mortgage Loan Products
Fixed Rate Loans
- This loan offers a variety of options for fully amortizing fixed rate loans. The payment remains constant and fully pays off the loan at maturity. The payment amount will be lower, the longer the term of the loan. These are the most stable products available providing the lowest risk.
- For an adjustable-rate mortgage, the interest rate is fixed for a chosen number of years, (based on the chosen ARM product), and becomes variable for the remaining loan term, adjusting every year thereafter, based on the movement of the underlying index. The interest rate would have maximum and minimum lifetime limits as well as a maximum per change limit. This is a popular program for borrowers who do not plan to keep their loan for longer than seven years, but want some flexibility with a longer term loan, should circumstances change.
- This is a popular program for borrowers who plan to keep their home less than 10 years and want the benefit of a fixed rate loan. Payments are based on long term amortization. However, when the loan matures, a large balloon payment is due.
Please contact our Mortgage Specialist at 650-488-2303 for more details.