Contact VITEK

Contact us for any questions you might have! We are here for you!

* Required Field


I would like to:

Speak with a mortgage loan originator

Schedule a consultation

Mailing Address

VITEK Mortgage Group
Corporate Office

3 Parkcenter Drive
2nd Floor
Sacramento, Ca 95825
Toll Free: (800) 570-5300

Language of your Mortgage Loan Originator:

Customer Login - Coming soon!

You will be able to log in for up-to-the-minute updates on your loan in processand easily submit needed documentation to us to help ensure a faster transaction for you.This new state-of- the-art communication system will also support our efforts toward complete paperless transactions and helps us further our Think Green initiatives!

Team VITEK Blog

Archive for the ‘First Time Homebuyer’ Category

GSFA Affordable Subsidy – Platinum down payment assistance program just got better!

Monday, July 31st, 2017

GSFA Affordable Subsidy

If you’ve been thinking of purchasing a home, or know someone else who is, we’ve got great news! Golden State Finance Authority (GSFA) has announced a new promotional offer for borrowers purchasing a home with conventional loan financing through the GSFA Platinum Program.

In addition to the Platinum down payment assistance (DAP) grant, low-income borrowers may be eligible for a GSFA Affordable Subsidy, an additional incentive to help them with down payment and/or closing costs. Like the GSFA DAP grant, the GSFA Affordable Subsidy has no repayment requirement!

Below are a few helpful questions and answers regarding the Affordable Subsidy.

How much money does the Affordable Subsidy provide? (Click here for program income limits.)
  • 2.0% of the loan amount for income ≤ 50% AMI
  • 0.5% of the loan amount for income ≤ 80% AMI
Do you need to be a first-time home buyer to take advantage of the Affordable Subsidy?
  • No, but you must meet the qualifying income requirements.
Does the Affordable Subsidy need to be repaid?
  • No, unlike many other down payment assistance programs the GSFA Platinum and Affordable Subsidy to not require repayment.
How can the money be used?
  • The Affordable Subsidy and Platinum grant money can be used for down payment and closing costs. (There can be no cash back to the borrower.)
Where can I learn more about the GSFA Platinum Program?
  • Visit our Platinum Program page to learn more about this great down payment assistance program.

If you have any questions about the GSFA Platinum Program or the Affordable Subsidy, contact us at (800) 570-5300 or fill out our contact form.

10 Home Loan Dos and Don’ts When Obtaining a Mortgage

Monday, March 20th, 2017

10 Dos And Don'ts When Obtaining A Home Loan

These Top 10 Dos and Don’ts can greatly impact your ability to qualify for a home loan or close on time. It is critical you follow these ten things to help ensure your home loan process goes smoothly.

  1. Don’t apply for new credit or make major credit purchases
  2. Don’t close or max out credit cards AND stay current on payments
  3. Don’t change jobs
  4. Don’t switch banks, move your money around, or deposit large amounts of cash or non-payroll checks into your bank account
  5. Don’t leave town for an extended period during escrow
  6. Do keep a paper trail for charge offs and/or collection payoffs
  7. Do keep a paper trail for all non-payroll deposits into your bank accounts
  8. Do wire gift funds directly to the escrow company
  9. Do advise your Mortgage Loan Originator of any debts not reporting on your credit report
  10. Do call your VITEK Mortgage Loan Originator if you have questions!

Congress Extends Mortgage Insurance (MI) Tax Deduction

Wednesday, January 13th, 2016

Mortgage Insurance (MI) Tax Deduction Extended

Great news! Congress voted at the end of December to extend the tax deduction for mortgage insurance (MI) through 2016.

This means, if you purchased or refinanced a home and the loan closed after December 31, 2014, you may qualify for the tax deduction. Any MI premiums you paid or accrued from January 1, 2015 through December 31, 2016 may qualify for the tax deduction on your subsequent federal tax returns. (Consult a tax advisor.)

Who qualifies for the tax deduction?

  • Borrowers with adjusted gross incomes up to $100,000 can deduct 100% of their borrower-paid MI premiums. Deductions are reduced by 10% for each additional $1,000 of adjusted gross income, phasing out after $109,000.
  • The threshold for married borrowers filing separately is $50,000 of adjusted gross income per person. Deductions are reduced by 5% for each additional $500 of adjusted gross income, phasing out after $54,500.

Platinum Grant – Now Use With Conventional 97%

Tuesday, January 27th, 2015

Platinum - Now Use with Conventional 97%

With the rollout of the new Conventional 97% home loan program, first-time homebuyers now have a great home financing alternative to FHA. Up until recently, though, borrowers had to use FHA financing if they wanted to utilize the Platinum Grant down payment assistance program. Thankfully, that changed this week!

The Platinum Grant down payment assistance program is now available on conventional (Fannie Mae) 1st loans. This is great news for borrowers that prefer to purchase a home using conventional financing rather than FHA financing. Below are a few benefits and things to know about the Platinum Grant program.

Platinum Grant Program with Conventional 97%*:

  • Grant for up to 3% of conventional first mortgage loan amount (Up to 5% of first loan amount is available when used with an FHA or VA home loan)
  • Does not require any repayment
  • Proceeds may be used for down payment and/or closing costs
  • Eligible properties include: single family residences, agency approved condominiums, and planned unit developments (PUDS)
  • Income restrictions apply

*This is not a commitment to lend. Not all borrowers will qualify.

To learn more about Platinum and how it can help
make homeownership possible, contact your VITEK
Mortgage Loan Originator or contact us today!
(800) 570-5300

10 Common Homebuyer Mistakes and How You Can Avoid Them

Monday, December 8th, 2014

Buying a home is one of the biggest financial decisions you will make. Being an educated buyer will help ensure you make the right home purchase for you and your family. Here are 10 mistakes that homebuyers often make when purchasing a home, so you can avoid making them as well.

  1. Not Thinking of Your Long-term Needs

    Put some thought as to where you and your family will be in 2 to 6 years. Thinking ahead will help you purchase a home that will fit your needs in the future.

  2. Not Being Open Minded with Your Home Search

    Choosing not to use a Realtor® can be detrimental. A Realtor® can guide you through the process and will have access to up-to-date listings and details not found in internet searches.

  3. Deciding to Hire Just Any Agent

    The key is to make a connection with a Realtor® you trust, with a proven track record, who has your best interest at heart. Ask family, friends, co-workers or us for good referrals. Interview more than one and compare.

  4. Not doing Thorough Research

    Create a list of needs and wants. Decide what is important to you, such as room count, schools, parks, crime rate, etc. Be detailed so your Realtor® can better match you with the right home for your needs.

  5. Not Getting Pre-qualified First

    Meet with a reputable Mortgage Loan Originator first to review the program(s) you are qualified for, along with the estimated monthly payments and closing costs, to help you determine upfront how much home you can comfortably afford.

  6. Not Understanding the Costs Involved in Your Loan

    Review your Good Faith Estimate with your Mortgage Loan Originator. This estimate contains all taxes, insurance, homeowner’s dues, and loan fees, associated with the ‘cost’ of your home loan.

  7. Looking at a Limited Number of Homes

    Most likely this will be the largest purchase you will ever make. Request your Realtor® prepare a market analysis to provide you current and important area data to save you time and stress later on. Consider a newly built home as an option.

  8. Not Paying to get the Home Inspected

    Now is not the time to cut corners. When you hire a professional home inspector they will inform you of items you may have overlooked to help you ensure the home is in proper condition and you are making the right purchase.

  9. Not Obtaining the Right Amount of Property Insurance

    Rely on a professional for advice. Contact different insurance companies and get several quotes to compare. Ask about replacement cost and deductibles.

  10. Not Purchasing a Home Warranty

    This is a safety net. The warranty is usually good for one year from the close of escrow date and can be purchased by you or the seller. Talk to your agent about this smart protection plan.