| 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 / Limited Documentation |
| • |
No Ratio Test Loans |
| • |
No Income/No Asset Loans |
| • |
Expanded Exception Programs |
| • |
Expanded Cashout Refinances |
| • |
Second Homes |
| • |
Investment Properties |
| • |
Condominiums |
| • |
Foreign Nationals |
|
