Richard Wang is a Santa Clara Mortgage Broker with 14 years of experience who facilitates 1-4 unit residential refinance and purchase home loans in Santa Clara. Easing the path to 1st time homebuyer is our highest priority. richardwangmortgage.com richardwangmortgage.com

ABOUT US Richard joined The Loan Story in July 2013 after a 14-year run as Broker/Owner of Veridian (formerly Opus) Mortgage, a small family business based in Cupertino, California. After graduating with a B.A. in Economics from the University of California at Los Angeles, Richard passed the California State CPA Exam and immediately started selling loans door-to-door for Opus Mortgage – the company founded by his mother Sue Wang, a successful former real estate salesperson in the 1970's and early 1980's. Two years and a hundred loans later, Richard took "a break" by attending law and business schools at Santa Clara University earning his JD/MBA and subsequently being sworn into the California State Bar in He gained valuable experience as an attorney over the next few years working for an insurance litigation and then estate planning and administration firm before ultimately rejoining Opus permanently in richardwangmortgage.com richardwangmortgage.com

Conventional Home Loans If you are looking for a home loan, considering Santa Clara Conventional Home Loans is a great place to start. We offer Home Loans Santa Clara, portfolio loans, construction loans and even subprime loans. richardwangmortgage.com richardwangmortgage.com

Jumbo Mortgage A Jumbo, or non-conforming loan, is required for financing on a mortgage that is higher than the conforming loan limit set by Fannie Mae and Freddie Mac. Mortgage bankers / lenders consider jumbo loans to be a riskier proposition than conventional loans because in this case a larger sum of money is ‘bet’ on a single transaction vs spreading that same dollar amount amongst multiple transactions richardwangmortgage.com

The Loan Process Close the Loan Satisfy Loan Conditions Obtain Loan Approval Select the right Loan Programs and secure your rate lock Apply and Get Pre-Approved Organize Your Documents richardwangmortgage.com richardwangmortgage.com

80/10/10 (Piggyback Mortgage) Loan How does a 80/10/10 loan work? Usually a 2nd mortgage or a Home Equity Line of Credit (HELOC) is offered up to 90% of the home value. Such kind of loans are popularly known as 80/10/10 loans, where the first mortgage is 80 percent of the home value, second mortgage or HELOC is 10 percent and the rest 10 percent is the down payment by the borrower.  What are the benefits of a 80/10/10 loan? PMI is required on all conventional loans with less than 20% down payment. So if you had 10% down payment and you opted for one loan of 90%, you would end up paying PMI. However an 80/10/10 loan eliminates the need for a mortgage insurance. In some cases this could mean a higher interest rate on the 1st mortgage. Hence, 80/10/10 loan is not for everyone. richardwangmortgage.com richardwangmortgage.com

Contact us - Office Location The Loan Story 275 Saratoga Ave. Suite 220 Santa Clara, CA By Phone: (408) By Fax: (408) By richardwangmortgage.com richardwangmortgage.com

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