Purchase/Refinance Program

Conventional Loans
Refinance & Purchase
  • Fixed Rate Refinance or Purchase Loans
    Lock in your rate for the life of your loan
    Make sure your payment never goes up
    Get cash out – pay off high interest debt
  • Adjustable Rate Refinance or Purchase
    Get the lowest rates and payment
    Get cash out – pay off high interest debt
  • Interest Only
    Qualify for a higher loan amount
    Lower payments
  • Jumbo Loans
    Higher loan amounts
Conforming Loans are those that meet Fannie Mae and or Freddie Mac underwriting requirements. In other words, income, credit, and property requirements must meet nationally standardized guidelines. Conforming loans are subject to loan amount limits that are set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). These limits vary based on the region in which the subject property is located as well as the number of legal units contained in the subject property.





FHA

  • REFINANCE YOUR DEBT TO 95% OF YOUR HOMES VALUE
  • ONLY 3.5% DOWN REQUIRED ON NEW HOME PURCHASES
  • REFINANCE WITH LITTLE OR NO EQUITY
  • LOW FIXED AND ADJUSTABLE RATES
  • QUALIFY FOR THE FHA STREAMLINE RATE REDUCTION PROGRAM
  • WHEN RATES GO DOWN, WE LOWER YOUR RATE!! ASK US HOW
The Federal Housing Administration (FHA) is a division under the US Department of Housing and Urban Development (HUD). It insures loans made by approved lenders to qualified borrowers. There are lots of good reasons to choose an FHA loan, especially if one or more of the following apply to you:
  • You're worried about your monthly payments going up
  • You're worried about foreclosure
  • You're worried about qualifying for a loan
  • You don't have perfect credit
  • You're a first-time home buyer
  • You don't have a lot of money to put down on a house
  • You want to keep your monthly payments as low as possible
  • You're worried about what will happen if you fall behind on your payments
If any of these things describe you, then an FHA loan may be right for you. Why? FHA-insured loans offer many benefits and protections that you won't find in other loans including:
  1. Lower cost
  2. Smaller down payment
  3. More protection to keep your home






FHA STREAMLINE

  • NO APPRAISAL REQUIRED
  • LIMITED DOCUMENTATION NEEDED
  • FAST AND SIMPLE PROCESS
FHA has permitted streamline refinances on insured mortgages since the early 1980's. The "streamline" refers only to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction. The basic requirements of a streamline refinance are:
  • The mortgage to be refinanced must already be FHA insured.
  • The mortgage to be refinanced should be current (not delinquent).
  • The refinance is to result in a lowering of the borrower's monthly principal and interest payments.
  • No cash may be taken out on mortgages refinanced using the streamline refinance process.
  • Lenders may offer streamline refinances in several ways. Some lenders offer "no cost" refinances (actually, no out-of-pocket expenses to the borrower) by charging a higher rate of interest on the new loan than if the borrower financed or paid the closing costs in cash. From this premium, the lender pays any closing costs that are incurred on the transaction. Lenders may offer streamline refinances and include the closing costs into the new mortgage amount. This can only be done if there is sufficient equity in the property, as determined by an appraisal. Streamline refinances can also be done without appraisals, but the new loan amount cannot exceed the original loan amount.