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 homes, condo’s, PUD’s and single-family second homes can be financed with no prepayment penalty.
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 the borrower wishes to avoid PMI insurance or wants to keep the 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 80/20.
103% down programs
0% Down payment required and closing costs can be financed up to 103% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time homebuyer status not required and there are no income limits.
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.
Teacher programs
Buy a home with no money down! Purchase only, loans up to $417,000. No income restrictions, 100% financing. Alternate credit acceptable, little or no cash to close.
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.
Protection ARM
Now you can buy more home with less monthly payment. Interest rates as low as 1.25%. Can be used for purchase, refinance, home equity, cash out refinance. Apply your savings to principal and own your home free & clear more quickly. Good for primary homes, second homes, & condos. Loans up to 2.5 million.
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 95% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products.
Flex 97 loans
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
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.
100% home equity
Home Equity Line of Credit up to 100% of the value of your home.
Interest only
Maximize your income with the Interest Only loan. Pay interest only for a fixed period of time.
Foreign national
No income, no assets, no credit, no questions. 30% down payment. Second homes/vacation homes. 2-unit investment properties allowed with loan-to-value of 50%.
Investor loans
Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment, and some programs up to 100% financing. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. PROGRAM NOT AVAILABLE IN NEW YORK.
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