80/15/5
This is
a loan which carries a second mortgage for up to 15%
of the purchase price of the property. It is usually
used when wishing to avoid PMI insurance or to keep
your first mortgage under the FNMA/FHLMC limit to
avoid Jumbo rates. The borrower puts down a 5% down
payment and then finances a first mortgage up to the
FNMA/FHLMC limit and a second mortgage of up to 15%
of the purchase price. Other variations are 80/10/10
or 75/15/10.
Check to see if you qualify
FHA
Mortgages
Backed
by the Department of Housing and Urban Development
this mortgage offers the borrower the ability to put
as little a 3% down payment and they can even
finance “allowable” closing costs. Seller can
contribute up to 6% of the purchase price to the
buyer towards closing costs.
Check to see if you qualify
VA
MORTGAGE
Backed
by the Veterans Administration and the federal
government it is similar to FHA except that you have
to be a qualified Veteran or military person.
Check to see if you qualify
JUMBO
LOANS
Offers
30 and 15 year fixed rate mortgage and competitive
ARM products with full document, alternate
documentation and limited documentation. Cash out and
No cash out refinance are allowable. Single family
detached, Condo’s, PUD’s and single-family second
homes can be financed with no prepayment penalty.
Check to see if you qualify
ZERO DOWN
PROGRAMS
Same as
above only the borrower pays for closing costs or
can have the seller contribute up to 6% towards
closing costs.
Check to see if you qualify
NO
DOC/STATED INCOME
Loans
where your income is not requested or verified with
as little as 10% down are stated income loans. There
are several varieties of the "no-doc" loan today.
Basically the type of loan that is best suited for a
particular borrower depends on that borrower's
situation. Some borrowers choose not to disclose
employment, income or asset information, while
others may be willing to disclose employment and
asset information but not income. Still others might
be willing to disclose even income but select a
program that doesn't calculate debt-to-income ratios
allowing those borrowers to exceed the traditional
guidelines in order to qualify for a larger mortgage
amount. With all the different variations of the
no-doc loan, there is definitely a mortgage program
for today's non-conventional borrowers.
Check to see if you qualify
INTEREST
ONLY
Shorter
term adjustable rate mortgage where borrower is not
required to make payment on the principal.
Check to see if you qualify
FLEX 97%
Similar
to FHA but without maximum mortgage amount
limitations. Must be a single family, owner occupied
home and borrower must have a credit score of over
680.
Check to see if you qualify
A- THRU D
LOANS
These
mortgages are for the credit challenged. They can
vary from slightly damaged credit to severely
damaged. Whatever the situation we have a mortgage
that will get you back on track.
Check to see if you qualify
2ND
MORTGAGE LOANS
Subordinate to the first mortgage these loans offer
the borrower the ability to get money for home
improvement, debt consolidation or many other
reasons without disturbing their first mortgage.
Convenient when you have a low interest first
mortgage.
Check to see if you qualify
HIGH DEBT
RATIO LOANS
Borrowers having the ratio of their monthly bills to
their monthly income higher than 50% is considered a
high debt ratio. Loan programs are available for
these borrowers, allowing them to finance the
purchase of a home or property.
Check to see if you qualify
CONSTRUCTION LOANS
Building
a new home can be an exciting prospect - unless you
get caught up in a construction loan approval
process that's overly complicated and time
consuming. With this loan we will finance up to 90%
of the cost of land plus the costs of construction.
We offer a one time fixed rate closing or the
traditional ARM products.
Check to see if you qualify
INVESTOR
LOANS
Used to
finance 1-4 family properties that will be for
investment with as little as a 10% down payment.
Aggressively priced these programs have many
variations such as NO DOC, LIMITED DOC and FULL DOC.
PROGRAM NOT AVAILABLE IN NEW YORK.
Check to see if you qualify
