Mortgage Loan Programs

2006-08-08T18:37:00.000-07:00

Pre-Approvals

Apply today and we will provide you with a Pre-Approval Certificate.

Then you can shop for your dream home and:

You know exactly what you can afford.
You can shop with confidence.
The seller will take you offer more seriously knowing you are virtually a cash buyer.

103% Home Loan

Financing opportunity for Borrowers with excellent credit but little money for down payment.
Zero Down plus finance 3% of your closing costs into the loan.
Sellers may also contribute an additional 3% towards your closing costs.

100% Home Loan

Zero Down - buy your home with NO money down
Little or no cash up-front - 100% of the closing costs can come from a gift or seller.
Less income required - expanded debt ratios makes it easier to qualify.
580 middle credit score required.
Fixed rate financing - enjoy the security of knowing what your monthly payments will be for the life of the loan.

97% Home Loan

Even with limited or spotty credit history you can reach your dream of homeownership:

As little as a favorable 12-month rental history required.
An affordable 3% down payment - only 1% needs to be from your own funds and the balance can come from a gift or other sources.
100% of the closing costs can come from a gift or other sources.
Less income required - expanded debt ratios make it easier to qualify.
Fixed rate financing - enjoy the security of knowing what your monthly payment will be for the life of the loan.

VA Home Loans

Veterans Administration guaranteed home loans:

100% financing available for veterans.
Nontraditional credit history is considered
Expanded credit criteria
Seller may contribute up to 6% toward the closing costs.
Veteran must have certificate of eligibility from the Veterans Administration

High Ratio Fixed Rate Loans

Allows borrowers with excellent credit but limited income to buy more house:

Allows for fifty percent (50%) of your income to be used towards the housing debt when traditional lending guidelines allow about thirty percent of your gross monthly income to be used towards the housing debt
Available with as little as 5% cash investment
Affords the security of a fixed payment

Fixed Rate Mortgages

Is the right option for you if:

You want the certainty of a fixed principal and interest payment
Are on a fixed or tight budget
Believe interest rates will or may go up
Plan on staying in the same home for a long period of time

Adjustable Rate Mortgages

This is the right option for you if:

You plan on moving or refinancing within seven (7) years of the mortgage transaction.
Are confident your income will increase
Believe interest rates will stay the same or go down

Some of the many benefits of adjustable loans include the following:

You can save thousands in monthly payments over the first few years
No prepayment penalty
Your payments are amortized over thirty years
With the lower interest rate it may be easier for you to qualify for a loan
The interest rate caps help keep payments within reach if and when the rate adjusts upward
The rate is typically limited to a one or two percent (1-2.00%) change in either direction per adjustment and a maximum of six percent (6.0%) over the life of the loan

No - Cost Equity Lines ($35,000.00 and up)

Prime rate for life! The rate is indexed to Prime rate as posted in the Wall Street Journal the first calendar day of each month.
90% maximum combined financing (90% of the value of the house, including the first mortgage.)
No annual fee
Excellent credit required
We offer a full line of equity lines and second mortgages to meet almost all needs.

Refinance, including refinance with Cash-Out

Many homeowners have found ways to increase their monthly cash flow or obtain additional moneys for home improvement by refinancing their current mortgage:

Payoff high interest rate credit cards
Have additional interest deductions at tax time
Get cash for college or weddings!
Fixed rate or adjustable rate programs available
30,25,20,15 or 10-year terms
Talk with one of our experts for a free mortgage analysis!

Construction Loans

Up to 95% financing
Equity in the land (if customer owns it) can be used for down payment and closing costs
One-time closing keeps costs low and means the rate stays the same during and after construction
Available in fixed or adjustable rates
6,9 or 12 month construction periods to choose from

Land Contract Buyouts and Lease Purchases

Up to 100% loan-to-value
Appraised value is used to determine the loan-to-value if you owner occupied property more than 12 months.
Unseasoned land contract buyouts are also available.

Specialty Income and Credit Products

Self-Employed
Stated Income
No Income Verification Loans
No Ratios
No Cost Loans
No Documentation Loans
No Asset Loans
Debt Ratios up to 60%
Plus More

Bridge Loans

Use the equity in your current home to buy or build your new one
Interest only payments for six months
Low, low closing costs!
Quick closings!

Jumbo Mortgages

Jumbo mortgages are categorized as loans in excess of $417,000 for single-family residences
Fixed rate loans always vary in price between conforming and jumbo loan amounts although some adjustable rate mortgages have much higher limits prior to altering the pricing
Available up to 4 million dollars
Construction, purchase, refinance or refinance with cash-out O.K.
We are luxury home specialists!

Investment Property

1,2,3 or 4 unit properties
Up to 95% financing available.

Property Types

Condominiums
Commercially Zoned Residential Property
Rural Properties
Manufactured Housing
Mobile Homes
Mixed Use Property

Multifamily

5 plus units
Our Commercial Division has over 19 years in multi-family lending!

Extended Locks

Preserve today's rates up to 60 days.

Zero Closing Cost Loans

We pay all closing costs except pre paids.
No Title Costs.
No Appraisal Cost.
No Underwriting Fee.
No Document Preparation Fee.
No Fees of any kind.
No Pre-Payment Penalty.
Loans for Purchase or Refinance
15 to 30 year Owner Occupied Fixed & Adjustable Rate Loans
Minimum loan amount $250,000

Today's Interest Rates Updated Daily

2006-08-06T10:42:00.000-07:00

I have created this blog to keep all my clients updated in real time as to the rates that we offer for mortgage financing. I will additionally outline the programs we offer and as new home loan programs are created I will be adding those as well.

Financing News - Today's Mortgage Rates

Mortgage Loan Programs

Today's Interest Rates Updated Daily