| Fixed Rate Programs |
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| Loan Program |
Why |
Keys |
| Basic 30/25/20/15/10-year Fixed Rate Loans |
The stability of a fixed principal/interest payment for the
life of the loan. |
Down of 5% |
| Reduced Rate Option |
If you plan to own your home for a long time and would like
a lower rate. |
This gives you a lower rate but limits the opportunity for
a refinance and early principal reduction for the first 5 years
of the loan. |
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| Low Down Payment Programs |
You would like a down payment of 3%-5% . |
No maximum income restrictions, only loans amounts up to $417,000 |
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| Adjustable Rate Programs |
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| Loan Program |
Why |
Benefits |
| Basic ARM |
Start with a low payment so you can purchase more home. |
As little as 0% down, rates may be adjusted every 6 months
or 1 year. |
| Basic Arm with Reduced Rate Option |
Start with an extremely low rate |
Reduced rate in exchange for limits on refinancing and early
principal reduction for the first 5 years. |
| Fixed Period Arm |
For those who plan to live in their home for a couple years
or refinance after 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. |
| Fixed Period ARM with Reduced Rate Option |
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. |
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| Loans to avoid Private Mortgage Insurance
(PMI) |
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| Loan Program |
Why |
Keys |
| Home Equity Line of Credit (HELOC) |
You have between
0% – 15% down and want to avoid paying PMI. |
Combines your down payment, a 1 st mortgage and a 2 nd mortgage
so you can achieve 20% down, allowing you to avoid PMI. Loans
up to 100% loan to value. |
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| Loans exceeding Fannie Mae / Freddie Mac
Guidelines |
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| Loan Program |
Why |
Keys |
| Non-conforming Jumbo Loan |
Borrowing more than $417,000 |
Loans up to $2 million. A variety of program options. |
