Loan Products

Loan Products – at a Glance

    • CONVENTIONAL CONFORMING PURCHASE

      Program Benefits:

      1. Provides borrower(s) the opportunity to lock in a long-term interest rate with a stable, predictable monthly payment
      2. Shorter loan terms carry a lower interest, helping borrower(s) save interest cost over the life of the loan

      Program Objective:
      1. 10-20 year terms – build equity
      2. 30 year terms – minimize monthly payment

    • CONVENTIONAL CONFORMING REFINANCE

      Program Benefits:

      1. Provides borrower(s) the opportunity to lock in a long-term interest rate with a stable, predictable monthly payment
      2. Shorter loan terms carry a lower interest, helping borrower(s) save interest cost over the life of the loan

      Program Objective:
      1. 10-20 year terms – build equity
      2. 30 year terms – minimize monthly payment

    • CONVENTIONAL CONFORMING ARMS

      Program Benefits:

      1. Provides borrower(s) the opportunity to lock in a long-term interest rate with a stable, predictable monthly payment
      2. Shorter loan terms carry a lower interest, helping borrower(s) save interest cost over the life of the loan

      Program Objective:
      1. 30 year terms – minimize monthly payment with lower interest rate

    • CONVENTIONAL CONFORMING HIGH BALANCE

      Program Benefits:

      1. Provides borrower(s) the opportunity to lock in a long-term interest rate with a stable, predictable monthly payment
      2. Shorter loan terms carry a lower interest, helping borrower(s) save interest cost over the life of the loan

      Program Objective:
      1. 10-20 year terms – build equity
      2. 30 year terms – minimize monthly payment

    • CONVENTIONAL CONFORMING HOMEREADY

      Program Benefits:

      1. Provides an expanded guidelines for low to moderate income areas
      2. Shorter loan terms carry a lower interest, helping borrower(s) save interest cost over the life of the loan

      Program Objective:
      1. 10-20 year terms – build equity
      2. 30 year terms – minimize monthly payment

    • FHA PURCHASE

      Program Benefits:

      1. Expanded homeownership opportunities for first-time homebuyers and other buyers who would not otherwise qualify for conventional mortgages on affordable terms
      2. Low down payment with borrowers able to finance up to 96.5% of the value of their purchase
      3. Financed mortgage insurance premium
      4. Higher seller contributions – 6%

      Program Objective:
      1. Minimize monthly payment
      2. Minimize down payment

    • FHA STANDARD REFINANCE

      Program Benefits:

      1. Expanded refinance LTV limits for borrowers who may have less equity in the property

      Program Objective:
      1. Obtain maximum amount for refinance

    • FHA STREAMLINE REFINANCE

      Program Benefits:

      1. Reduces documentation for borrowers with an existing FHA loan to lower their interest rate

      Program Objective:
      1. Minimize monthly payment Program Eligibility Overview:

    • VA PURCHASE

      Program Benefits:

      1. Expanded homeownership opportunities for veterans
      2. A veteran is defined as a person who has served in active military, naval, or air service, and who, except for a service member on active duty, was discharged or released from active duty under conditions other than dishonorable
      3. No down payment with borrowers able to finance up to 100% of the value of the purchase
      4. Financed funding fee
      5. Limited fees due to seller paid cost

      Program Objective:
      1. Minimize down payment
      2. Minimize monthly payment

    • VA STANDARD/CASHOUT REFINANCE

      Program Benefits:

      1. Expanded homeownership opportunities for veterans
      2. A veteran is defined as a person who has served in active military, naval, or air service, and who, except for a service member on active duty, was discharged or released from active duty under conditions other than dishonorable
      3. Financed funding fee

      Program Objective:
      1. Minimize down payment
      2. Minimize monthly payment

    • VA IRRL

      Program Benefits:

      1. Reduce interest rate on existing VA loan with minimal documentation
      2. Minimal out of pocket costs

      Program Objective:
      1. Lower Rate Program Eligibility Overview