3635 Newton St. Ste E Torrance, CA 90505

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Personalized Mortgage Solutions For Everyone

For all types of home finance conditions, we have a variety of lending choices. Check out our most popular programs to see whether they’re right for you, or browse the rest of our offers below for more options.

Conventional Loans - I want a range of down payment options.

If you’ve been putting off buying a home because you can’t save enough money for a down payment, Midgate Mortgage Mortgage’s conventional lending choices may be able to help.

Midgate Mortgage Conventional mortgage loans are available in a range of forms and offer good benefits to qualified customers. While FHA and other government loans have property limits, conventional loans can be utilized on almost any type of property.

The following are some of the advantages of conventional loans:

A variety of down payment alternatives are available.

Benefits of a greater down payment With a 20% down payment, you can get rid of mortgage insurance.

Government loans are frequently used to limit property financing.

Are you curious about how a traditional loan can help you? Please complete the form below.

Refinance Loan- I want to get a better monthly payment.

Check to see whether you can save money by refinancing your house.

Check to see if you can save money for a long time. Payments will be reduced*. Pay off your mortgage more quickly. Take cash out of your house right now.

A house refinance can help you improve your financial circumstances.

Here are a few ways a refinance could save you money or help you fund certain significant needs if you have built enough equity in your home:

Combine a home equity line of credit and a credit card

Private mortgage insurance should be abolished.

Reduce your mortgage payments on a monthly basis*.

To enhance cash flow, refinance your current loan into an adjustable-rate or fixed-rate loan.

FHA Loans - I don’t have a lot of money for a down payment.

Loans from the Federal Housing Administration (FHA)
If you want to buy a house but don’t have enough money for a down payment or closing costs, an FHA loan could be the answer. FHA finance was created to offer homebuyers a viable alternative to traditional lending, with appealing and flexible standards.

Eligibility and benefits include:

Down payment assistance available

Low 3.5% down payment

100% gift funds – the entire 3.5% down payment can be a gift from parents, relatives, or an employer

FHA allows sellers to give up to 6% of the home’s purchase price to an FHA buyer to pay for closing costs and pre-paid costs.

Flexible credit qualifying – because it is government-backed, it’s possible to qualify for an FHA loan with a lower credit score than on conventional loan programs

Upfront mortgage insurance may be financed or paid in cash.

It May also be an option for borrowers with limited equity looking to refinance

Ability to choose from a fixed rate or adjustable-rate.

Ready to see if you could benefit from a flexible mortgage option? Give us a call today! 310-791-0854

Cash-Out Refinance - I want to get cash out of my property.

Are you crunching figures and trying to figure out how to consolidate some of your debt and get some relief from your financial woes?

This refinancing option allows you to take advantage of the equity you’ve accumulated in your house! You could not only receive a better rate and lower your monthly payment, but you could also get some cold, hard cash*.

You could benefit from a cash-out refinance if you:

Figure out a way to get some money.

Increase the amount of money you have in your savings account.

Work on projects or put money aside

With a Cash-out Refinance with Midgate Mortgage Mortgage, you may turn any built-up equity in your house into cash. Additionally, you may be able to reduce your taxable income and consolidate debt. With one of our several cash-out refi options, you may be able to alleviate the financial stress you’re experiencing.

The total finance charges may be greater throughout the life of the loan if you refinance your existing loan.

Make the most of your home’s equity and learn if you’re eligible today!

Construction to Perm - I want to build a custom home on a lot I’ve already bought.

Get custom-built financing as well as a permanent mortgage all in one loan, with only one closing and a small down payment.
Midgate Mortgage Mortgage offers a fantastic construction to permanent (C2P) mortgage loan for primary and secondary property acquisitions that won’t ruin your life. Our C2P program provides eligible buyers with the funds to construct and finance a newly constructed, completed home in a single mortgage loan.

This program includes*:

There will only be ONE closing at the commencement of construction, with only ONE set of closing costs!
Prior to closing, a rate lock with a one-time float-down option is available.

For primary properties, a 10% down payment is required; for secondary homes, a 20% down payment is required.

During the construction phase, only interest payments are accepted.

For a down payment, you can use the equity in your property.

If you want to create the home of your dreams, our C2P option is perfect for you.

To learn more about this program and the prerequisites for participation, please contact us right away.

High Balance Mortgage Loans - I want an affordable option in a high-cost area.

A large balance mortgage loan may be the best option if you wish to buy in a high-cost area or where homes usually exceed the annual loan restrictions set by the Federal Housing Finance Agency. Both conventional and government home loan programs provide high-balance loans through Midgate Mortgage.

Financing with a high balance sheet for high-cost areas

Interest rates that are competitive

For 1-unit properties in designated high-cost zones, loan amounts exceeding $510,400 and up to $765,000 are available.

Options for a primary dwelling, a second/vacation home, and an investment property

Condo loans are available.

Interested? Fill out the quick contact form below to learn more.

FannieMae Home Ready Loan - I have great credit, but not a lot of money for a down payment.

The Fannie Mae HomeReady® mortgage may be right for you if you have an excellent credit history and a steady income but don’t have much money set aside for a down payment. HomeReady is a low-to-moderate-income borrowers’ fixed-rate affordable housing program with as little as a 3% down payment and up to 97 percent financing.

HomeReady is adaptable to your way of life:

If you live in an area where the median tract income is less than 80% of the Area Median Income, there is no need to meet an income requirement (AMI).

To qualify, properties in high minority census tracts and designated disaster zones must meet 100% of the AMI.

To qualify for all other properties, the AMI must be at least 80%.

On terms longer than 20 years, mortgage insurance coverage is lower than the standard need for LTV of 90.01 percent to 95 percent.

As a source of funding for the down payment and closing charges, gifts, grants, Community Seconds, and cash-on-hand are permitted.

Are you ready to find out if this program is perfect for you? Please complete the form below.

Jumbo Loans - I want a home with a price that exceeds the conventional loan limit.

You’re ready to buy a house, but you live in one of the most expensive property markets in the country. There is a scarcity of stock. There is a lot of demand. And houses regularly cost more than a million dollars.

What are your options if you reside in a high-priced neighborhood?

Get on the phone and speak with a loan officer about a jumbo loan. Jumbo loans, a sort of non-conforming loan, can buy a property worth more than $510,400 in most housing markets, which is the ceiling for “conforming loans” guaranteed by mortgage giants Fannie Mae and Freddie Mac. Any loans that exceed the funding limit are considered non-conforming. The minimum financing barrier in some high-priced areas is $765,000.

The jumbo loan packages offered by Midgate Mortgage have been expanded.

Midgate Mortgage has investors ready to fund these loans, as well as a Secondary Market department that is developing jumbo choices for a number of areas and homebuyer requirements.

Please let us know how we can assist you with purchasing a house in a high-priced neighborhood.

Renovation Loans - I want to buy a house that needs some repairs.

Let’s bring your idea back to life with the help of a Renovation Loan from Midgate Mortgage. A renovation loan from Midgate Mortgage Mortgage may help you not only make a potential property into the house of your dreams, but it can also help you get your loan approved.
How? If you’re having trouble receiving a loan for a home that needs work, a renovation loan could be able to help. Midgate Mortgage offers a variety of renovation loans to pay the cost of the property as well as minor and large repairs.

Renovation loan options
FHA 203(k) Standard & Limited

A minimum 580 credit score

A minimum loan amount of $5,000 is required (no maximum amount)

Self-help or contractors related to the borrower are not allowed

Manufactured and on-frame modular homes are not allowed

203(k) Standard covers many “major” repairs, such as structural repairs, moving or altering a load-bearing wall, or even knocking the house down to rebuild it as long as part of the existing foundation is left intact

203(k) Limited covers a max of $35,000 toward repairs. This loan type is intended for less intensive changes or updates such as roof repair, replacement of HVAC, flooring, or minor remodeling work

HomeStyle® Renovation Mortgage

  • Includes renovation costs in one loan to purchase or refinance
  • No minimum renovation cost required
  • The maximum renovation cost is 50% of the “as-completed” appraised value of the property

HomeStyle® for Investors

An investment-specific loan covering single-unit properties with all types of work allowed, including luxury additions, and a minimum down payment of 15%

Option of investment property purchases up to 85% LTV with FICO at 620 or above

Interested? Find out more by filling out the short contact form below.

Renovation Refinance - I want to use my equity to do some renovations.

You’ve wished for home improvements for a long time. With a Renovation Refinance from Midgate Mortgage Mortgage, you can make your dreams come true.

Perhaps you need additional space for a new baby, a recent college graduate is returning home, or an elderly parent requires assistance. Perhaps you’d prefer a more modern setting, one that’s compatible with home automation and other home-value-boosting technologies. With the help of a remodeling refinance, these ambitions can become a reality.

With a renovation refinance, you could achieve:

  • Kitchen makeover
  • Master bedroom suite upgrades
  • Additional bedrooms or bathrooms
  • Lower level or third level remodel to create space
  • Home automation
  • Increased energy efficiency
  • Plus, a renovation refi could earn these benefits:
  • Increased property value
  • Increased equity
  • Potentially higher selling price

If this is the type of home change you’ve been looking for, let’s talk about guiding you through the renovation refinance process.

Reverse Mortgage Loan - I’m 62+ and don’t want a mortgage payment.

Are you a 62-year-old senior who wants to reap the benefits of your home’s increased value? It might be time to look into one of the reverse mortgage possibilities listed below.


With a House Equity Conversion Mortgage (HECM) from Midgate Mortgage Mortgage, qualifying borrowers can tap into the value of their home to improve their financial security and preserve their quality of life in retirement. When a homeowner has accumulated significant equity in their house, they may be able to convert that wealth into cash to satisfy their requirements.

Purchase with HECM

A HECM for Purchase loan is a variant that allows homeowners to convert equity in their current house into tax-free* funding for the purchase of a new property. This option is great for those wishing to downsize, migrate to a new community, or be closer to family.

A reverse mortgage from Midgate could help you achieve your goals, whether you need additional income flow in retirement, want to move closer to family, or need to make your property more accessible.

Streamline Refinance- I want to reduce my homeownership costs

Streamline Refinances may be right for you if you’re one of the thousands of homeowners who qualify for a lower rate. Alternatively, you can ask to have your insurance payments reduced or to have a borrower removed from your mortgage.

Whether you’re looking for an FHA 203(b), USDA or VA streamline refinance, we have you covered.

What advantages does a Streamline Refinance offer?

It may be of assistance:

Without an appraisal, you can qualify for a refinance.

Borrowers who meet the criteria can take someone off the loan.

Homeowners who are eligible for a lower rate

Interested? Fill out the quick contact form below to learn more.

USDA Loans - I want a “rural area” home and need down payment help.

This USDA-backed loan allows qualifying low- to moderate-income borrowers to purchase a home in a designated rural area with no down payment. Eligible candidates will also benefit from the loan’s liberal guidelines.

Benefits of USDA home loans

Borrowers with low to moderate income may be able to qualify with the help of this program.

In specified rural locations, there is no down payment required for eligible candidates.

Allows the seller to pay for closing costs.

Interested? Please complete the brief contact form below to learn more.

What is a condominium?
A condo is a unit in a condominium development. Each unit owner owns his or her own apartment, has a personal interest in the project’s common areas, and in some circumstances has exclusive access to select restricted common areas. The condo must meet particular standards, such as real estate specifications, HOA conditions, and construction and ownership laws, in addition to meeting the requirements of each form of financing.

These programs at Midgate Mortgage provide low-cost condo financing:
Conventional Fannie Mae and Freddie Mac loans

VA benefits are available to qualifying military personnel.

Government of the FHA.

Rural housing financing program of the USDA

Do you want to learn more about how Midgate Mortgage may assist you in purchasing your own condo? To learn more, please fill out the form below.

Condo Loans – I want to buy a condo

Apply for condo financing

If you’re looking for a condo, we have a number of possibilities for you to examine. Midgate Mortgage offers condo loan options up to $3 million, including Jumbo loans. Take advantage of our comprehensive condo products, as well as in-house teams committed to assisting you with a condo loan closing.

Condo purchasers may be eligible for condo financing through several of our most popular loan programs, regardless of their financial situation, location, down payment, or other specific qualifying considerations.

New Construction Loan - I want to build my home
This is the financing for individuals seeking a newly built home when you choose the model from a builder.

Not every mortgage lender is familiar with the construction industry or what it takes to get buyers of new construction homes authorized and closed quickly. We’ve worked hard at Midgate Mortgage to make our new construction financing procedure as simple as possible for everyone involved.

Who can benefit?

Homebuyers ready to select a new construction model home from a development

Real estate agents who need a lender that knows what they’re doing

Builders and site agents who need a new construction home purchase closed on time

New Construction loans we offer:

  • Conventional Purchase
  • Federal Housing Administration (FHA)
  • Fannie Mae HomeReady Mortgage
  • Freddie Mac Home Possible Advantage
  • Jumbo loans
  • VA loans
  • Condo loans
VA Loans - I, or a family member, are a veteran or currently serving in the military.

If you’re in the military, a veteran, or a family member of a military veteran, you might be qualified for a Veterans Affairs loan, which comes with one of Midgate Mortgage‘s best perks: no lender fees*. The VA Mortgage is a government-backed instrument that provides 100 percent financing of the property’s fair market value, with less stringent qualification requirements than traditional programs.

VA loan specifications

(1-4 unit, primary residence only)

  • 30-year Minimum FICO
  • 580-620 minimum FICO
  • 15-year Minimum FICO
  • 640 minimum FICO
  • Housing grants for service-related disabilities

Those eligible for an adapted housing grant through Veterans Affairs can get help with a service-connected disability purchase, build an adapted home or adapt an existing home to support their disability.

VA Purchase loan benefits

If qualified, 100% financing without requiring mortgage insurance. This could mean hundreds of dollars of savings each year.

No lender fees* when you get a VA loan from Midgate Mortgage.

Some states even offer property tax reductions to military borrowers.

VA loans help military families make homeownership a reality. Contact us today  at 310-791-0854 to learn more about VA homeownership benefits

VA Refinance Loans – I have a VA loan and I’d like a better rate or to use my equity

With a VA loan, you have the option of refinancing to see if you can get a better rate or even cash out on your equity. There may be particular solutions available for qualifying VA loan debtors to refinance their loans.

The VA Interest Rate Reduction Refinancing Loan (Veterans Affairs Interest Rate Reduction Refinancing Loan) allows veterans, retirees, and active-duty personnel to refinance an existing VA guaranteed loan to lower the interest rate or convert an adjustable rate to a fixed-rate (IRRRL). Unless otherwise requested, no appraisal or credit underwriting is necessary. IRRRL merely needs applicants to certify previous ownership of the home covered by the loan, which can be done with no money out-of-pocket if all costs are included in the new loan.

VA Cash-out

This VA refinance option helps eligible military borrowers refinance their home loans to get cash from built-up equity. Our program also offers the ability for up to a 100% cash-out option*.

*For qualified borrowers. Other VA-permissible fees may still occur.

Who a VA Loan Refinance is for:

  • Qualified veterans and service personnel with a VA loan
  • Qualified VA loan homeowners who want to reduce their interest rate or switch from an adjustable rate to fixed-rate
  • Qualified borrowers who want to refinance without an appraisal or credit underwriting (IRRRL only)
  • Qualified VA homeowners who want a streamlined refinance with no money out-of-pocket
  • Eligible borrowers who want to tap into their home’s equity (Cash-out only)
Loans For The Self Employed
  • Qualify using bank statements or P&L and CPA letter
  • Generally requires a minimum of 20% down
  • Interest-only loans are available as well
  • No tax returns, W2s, or paystubs.
Loans for investors
Using the debt coverage of the monthly rent or potential monthly rental income to qualify

No income loans for retired individuals or unemployed

Ready to talk about your loan options? Give us a call today 310-791-0854!

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