Community Advantage Program — Eligible California Listings

A real savings example

Same $725,000 home, same $703,250 loan, 3% down. The Community Advantage Program delivers a lower rate and removes mortgage insurance entirely — lowering the monthly payment by over $800.

Standard Conventional

$5,939.46/mo

6.990% rate · 7.872% APR · with PMI

→

Community Advantage · 3% Down · No PMI

$5,128.23/mo

6.125% rate · 6.150% APR · no PMI

Saves $811.23 a month — about $48,674 over the first five years.See full breakdown →

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Address↕	County↕	City / ZIP↕	Type↕	Price↕	Days↕	MLS #↕	Listing Agent↕

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Program resources

A real savings example and the program flyer to share with your buyers — plus eligibility details and the coverage map.

A real savings example

Same $725,000 home, same $703,250 loan, 3% down. The Community Advantage Program delivers a lower rate and removes mortgage insurance entirely — lowering the monthly payment by over $800.

Standard Conventional

$5,939.46/mo

6.990% rate · 7.872% APR · with PMI

→

Community Advantage · 3% Down · No PMI

$5,128.23/mo

6.125% rate · 6.150% APR · no PMI

Saves $811.23 a month — about $48,674 over the first five years.

Detail	Standard Conventional	Community Advantage
Loan terms
Purchase price	$725,000	$725,000
Loan amount	$703,250	$703,250
Interest rate	6.990%	6.125%
APR*	7.872%	6.150%
Term	360 mos	360 mos
Monthly payment
Principal & interest	$4,674.02	$4,273.02
Property tax	$755.21	$755.21
Homeowners insurance	$100.00	$100.00
Mortgage insurance (PMI)	$410.23	$0.00
HOA	$0.00	$0.00
Total monthly payment**	$5,939.46	$5,128.23

Example for illustration. *APR reflects estimated fees and is shown for comparison. **Total monthly payment includes estimated property tax and homeowners insurance. Sample rates based on a $725,000 purchase with 3% down; actual rate, APR, and savings depend on borrower qualification and are not a commitment to lend.

The Community Advantage Program flyer

A one-page overview to share with your buyers or attach to a listing — eligibility, guidelines, and the buyer & agent benefits at a glance.

Eligibility is based on property location
Not restricted to first-time homebuyers
Discounted rates up to 1.5% · no mortgage insurance

California Community Advantage Program eligible listings

*Locations of all eligible listings across California (highlighted points). For specific address inquiries, contact Franklin Direct at 949-298-7060.

How the Community Advantage Program works

For buyers, the program can shave hundreds off the monthly payment through a discounted rate and no PMI. For agents, it lets you place a conventional offer. Eligibility is based on the property’s location and is not restricted to first-time buyers — repeat buyers qualify too, as long as they won’t own other residential property at closing.

Owner-occupied primary residence · purchase only
640 minimum credit score (660 for condominiums)
Property must be in an eligible area
3% down payment
Discounted rates of up to 1.5% based on borrower qualifying factors
Fixed-rate loans for 15 & 30-year terms, with permanent buydown options
No mortgage insurance · conventional financing, manually underwritten
Conforming loan limits — no high-balance
No income limits in most areas (limits may apply in some eligible areas)

↓ Download program flyer (PDF) Email us Call 949-298-7060

Have a buyer for an eligible home?

Request the program details and a Franklin Direct loan officer will follow up with everything you need.

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Compare a buyer’s monthly payment

Adjust the purchase price and down payment to see how the Community Advantage Program compares with standard Conventional and FHA financing. Everything else is fixed for this illustration.

Purchase price

Down payment

Standard Conventional

6.990% rate · with PMI

Principal & interest$0
Mortgage insurance$0
Property tax$0
Homeowners ins.$0

Community Advantage · No PMI

6.000% rate · no PMI

Principal & interest$0
Mortgage insurance$0.00
Property tax$0
Homeowners ins.$0

FHA

6.250% rate · with MI

Principal & interest$0
Mortgage insurance$0
Property tax$0
Homeowners ins.$0

Illustrative estimate only. Fixed assumptions: Conventional 6.990% (0.70% annual MI factor); Community Advantage 6.000% (no PMI); FHA 6.250% (0.50% annual MI factor); property tax 1.25%/yr; homeowners insurance $150/mo; 30-year (360-month) term; the down payment entered applies to all three scenarios. Actual rate, APR, taxes, insurance, and payment depend on borrower qualification and property. Not a commitment to lend. Equal Housing Lender. NMLS #237653.

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About Franklin Direct

One of California’s go-to Community Advantage purchase teams.

Franklin Direct is powered by Franklin Loan Center — an independent California mortgage banker since 1989. We specialize in the Community Advantage Program, helping buyers across 19 California counties purchase with a lower rate, just 3% down, and no PMI. With processing, underwriting, docs, and funding all handled in-house, we move fast and close on time.

Since 1989

Independent California mortgage banker

19 counties

Southern California to the Bay Area

7,124

eligible homes tracked right now

In-house

underwriting & funding for faster closes

Why buyers & agents choose Franklin Direct

★

Community Advantage specialists

This program is our focus — rates up to 1.5% lower, 3% down, and no mortgage insurance on eligible homes.

⌂

Built for purchases

A purchase-first team that helps agents place strong conventional offers and gets buyers to the closing table.

⚡

In-house speed

Processing, underwriting, docs, and funding under one roof — for a quicker, smoother close.

◎

Local California expertise

On-the-ground knowledge from Southern California to the Bay Area and the Central Valley.

What our clients say

Leave us a review

Verified reviews from Franklin Direct Ladera Ranch clients on Google.

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Franklin Loan Center is a DBA of Franklin Loan Corporation. Equal Housing Lender. NMLS #237653. Licensed by the California Department of Financial Protection & Innovation under the California Residential Mortgage Lending Act (#4131316). Client reviews are provided by the individuals named; this is not a commitment to lend.