You pay almost all interest in the first few years otherwise. It's the same as minimum payments on credit cards.The City of Oakland's CalHome Program operates jointly with participating lenders to assist low income, first-time homebuyers to purchase homes in Oakland. Chase offers jumbo loans in Oakland, California for larger mortgage amounts. Connect with a home lending expert to learn what options you have. With our Adjustable-Rate Mortgage your home loan will be at a lower rate for the first 3 to 5 years. Yes. At 18 you have the capacity to enter into a contract like a mortgage. You'd have to be able to qualify based on the following criteria. Fill out your loan application. Your loan application gives us the basic information we need upfront to begin your pre-approval.