Fixed Rate Loans |
| Loan Program |
Reason to Choose It |
Key Feature |
| Basic 30/25/20/15/10 Fixed Rate
Loans |
You want the stability of a
fixed principal/interest payment over the life of the loan |
Down payments as low as 5%. |
| Reduced Rate Option |
You can stay in the home for
a long time and want a lower rate |
Reduced rate in exchange for
limits on refinancing and early principal reduction for the first
5 years. |
| No Down payment Loans |
You don't have cash for a down
payment or want to avoid upfront costs. |
Allows you to purchase a home
with limited funds; in some cases allows for financing of closing
costs. |
| Low Down payment Options |
You want to put down just 3%
or 5%. |
No maximum income/earning restrictions.
|
| Low Documentation |
You have excellent credit and
want to avoid paperwork.* |
Very little paperwork; as little
as a 5% down payment. |
| One Time Closing Costs |
You're looking to build a home
and do not want the extra cost of two closings (construction loan
and permanent loan). |
One application, one closing
and one set of closing costs. Interest rate is protected up to 12
months with a built-in Roll Down Option. |
|
|
Adjustable Rate Loans |
| Loan Program |
Reason to Choose It |
Key Feature |
| Basic ARM |
You want to start with a low
payment or want to buy more home. |
As little as 5% down; rate adjustments
each 6 months or 1 year. |
| Basic ARM with reduced rate
option. |
You want to start with an extra
low rate. |
Reduced rate in exchange for
limits on refinancing and early principal reduction for first 5
years. |
| Fixed Period ARM |
You plan to move or refinance
again in a few years and want the security of a fixed rate for that
period of time. |
Fixed rate for 3, 5, 7 or 10
years, then adjusts annually based on a financial index. Interest
only option available. |
| Fixed Period ARM with Reduced
Payment Option |
You want to start with an extra
low rate, plus have the security of a fixed rate for a set number
of years. |
Reduced rate in exchange for
limits on refinancing and early principal reduction for first 5
years. |
| Home Equity Line Of Credit (HELOC) |
You have from 5% to 10% for
a down payment and want to avoid paying mortgage insurance. |
Combines your down payment,
a 1st mortgage and a 2nd mortgage (equity loan or line of credit)
so you can achieve 20% down to avoid mortgage insurance. |
|
|
Jumbo Loans |
| Loan Program |
Reason to Choose It |
Key Feature |
| Non-conforming (Jumbo) loans |
You need to borrow more than
$417,000 |
- Reduced Documentation Loans
- No Ratio Test Loans
- No Income/No Asset Loans
- Expanded Exception Programs
- Expanded Cashout Refinances
- Second Homes
- Investment Properties
- Condominiums
- Foreign Nationals
|