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| Conventional - Fixed Rate Loan |
| Conventional 2-1 Buydown |
| 3 Year Adjustable Rate Mortgage |
| 5 Year Adjustable Rate Mortgage |
| 7 Year Adjustable Rate Mortgage |
| 5 Year Balloon |
| 7 Year Balloon |
| No Income Verification - 30 Year Fixed Rate Loan |
| No Ratio - 30 Year Fixed Rate Loan |
| 80-10-10 (known as an eighty ten ten) |
| 80-15-5 (known as an eighty fifteen five) |
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Conventional - Fixed Rate Loan
This loan product is the standard mortgage. For those individuals who have steady employment history, credit, assets, and down payment or equity, this loan product typically offers the best fixed rates available. Also, with the introduction of technology into the lending industry, lenders are now underwriting these loans with a computerized automated system. This automation has dramatically increased the amount of approvals for conventional loans. Even with weaknesses in the four factors mentioned above, many potential buyers are able to be approved on this loan. (This product is also available for a term of 25, 20, 15, and 10 Years).
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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Conventional 2-1 Buydown
This loan product offers the flexability of easing into the shock of a mortgage loan payment with the security of a fixed rate. For the first twelve months of the mortgage, you would pay a payment based on a rate 2% lower than your mortgage note rate. After twelve months, payments thirteen through twenty-four would be based on a rate 1% lower than your mortgage note rate. Finally, after the twenty-fourth payment, your payments would be fixed at your mortgage note rate.
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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3 Year Adjustable Rate Mortgage
This product is ideal for a buyer who may stay in their home for a short period of time. The rate on a 3 Year ARM is typically much lower than a 30 Year Fixed loan. The rate is fixed for the first 36 payments of the loan. After the 36th payment, the loan rate will adjust based on an index and a margin. This loan features a protection called a CAP. CAPs for ARMs keep the rate from adjusting too dramatically.
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product and to learn more about indices, margins, and CAPs. |
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5 Year Adjustable Rate Mortgage
This product is ideal for a buyer who may stay in their home for a short period of time. The rate on a 5 Year ARM is typically a bit lower than a 30 Year Fixed loan. The rate is fixed for the first 60 payments of the loan. After the 60th payment, the loan rate will adjust based on an index and a margin. This loan features a protection called a CAP. CAPs for ARMs keep the rate from adjusting too dramatically.
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product and to learn more about indices, margins, and CAPs. |
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7 Year Adjustable Rate Mortgage
This product is ideal for a buyer who may not be buying their lifetime house. The rate on a 7 Year ARM is typically slighty lower than a 30 Year Fixed loan. The rate is fixed for the first 84 payments of the loan. After the 84th payment, the loan rate will adjust based on an index and a margin. This loan features a protection called a CAP. CAPs for ARMs keep the rate from adjusting too dramatically.
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product and to learn more about indices, margins, and CAPs. |
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5 Year Balloon
This product is ideal for a buyer who will be in their home for less than five years. It features rates typically a bit lower than 30 Year Fixed loans. At the 60th payment on this loan, the buyer will be required to pay the loan in full. This could be done by refinancing, paying cash, or selling the home.
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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7 Year Balloon
This product is ideal for a buyer who will be in their home for less than seven years. It features rates typically slightly lower than 30 Year Fixed loans. At the 84th payment on this loan, the buyer will be required to pay the loan in full. This could be done by refinancing, paying cash, or selling the home.
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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No Income Verification - 30 Year Fixed Rate Loan
This loan product does not require any verification of income at all. Income is stated at the time of loan application and is not verified through W2 statements or tax returns. (This product is also available for a term of 15 Years).
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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No Ratio - 30 Year Fixed Rate Loan
This loan product is ideal for customers who are comfortable with stretching the limits of how large a mortgage payment they can qualify for. Traditionally, a buyer's mortgage payment and total monthly debts are restricted by what lenders call qualifying ratios. This product does not take into account those qualifying ratios. In turn, a buyer can qualify for whatever payment they find comfortable without regard for restrictive qualifying ratios. (This product is also available for a term of 15 Years).
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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80-10-10 (known as an eighty ten ten)
This loan product has become a very popular option for many homebuyers. It is called an 80-10-10 bacause it features an 80% first mortgage (that is 80% of your purchase price), a 10% second mortgage (10% of your purchase price), and a 10% down payment (10% of your purchase price). The reason why this is such a popular option for many people is that it does not require Private Mortgage Insurance (PMI). Many other loans with only a 10% down payment do require PMI, and many of today's homebuyers find PMI unnecessary and wish to avoid paying it.
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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80-15-5 (known as an eighty fifteen five)
This loan product has become a very popular option for many homebuyers. It is called an 80-15-5 bacause it features an 80% first mortgage (that is 80% of your purchase price), a 15% second mortgage (15% of your purchase price), and a 5% down payment (5% of your purchase price). The reason why this is such a popular option for many people is that it does not require Private Mortgage Insurance (PMI). Many other loans with only a 5% down payment do require PMI, and many of today's homebuyers find PMI unnecessary and wish to avoid paying it.
Term: 30 years
Maximum Amount: $417,000
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| Please call or email us for more information on this product. |
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