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| Conventional |
| FHA Loans |
| VA |
| Construction Financing |
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Conventional
Loans under the conforming amount of $417,000 ~ 30,20,15, and 10 year terms available.
Term: 30 years
Maximum Amount: $417,000
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FHA Loans
Government-backed, FHA loans are a wonderful source of funding home loans. With a required 3% down payment, FHA approvals are not FICO driven. Ask us about Down Payment Assistance, compatabile with FHA loans.
Term: 30 years
Maximum Amount: $288,750
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VA
Department of Veterans Affairs (VA) loans are guaranteed by the Federal Government. They are available to eligible veterans and, under certain circumstances, spouses of veterans.
• Fixed rate, 3/1 and 5/1 ARM products are available. (Loan amounts $417,001 to $1,000,000 are eligible for fixed rate only)
No down payment on loan amounts less than or equal to $417,000 for purchases, if the veteran has full entitlement. This means that veterans may retain their savings, if any, for other purposes. This also offers an advantage to borrowers who have been unable to accumulate savings. Monthly mortgage insurance is not required. The monthly payment is less without having to pay a monthly fee.
Our VA loans also provide for less restrictive qualifying.
An existing VA loan may be refinanced with an Interest Rate Reduction Refinance Loan without an appraisal with no credit qualifying in most instances. This provides veteran with a quick, easy and less costly means to refinance the VA loan to take advantage of a lower interest rate.
Veterans, please call to inquire!
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Construction Financing
Programs for construction include One-Year, Three-Year, and Five-Year ARMS (Adjustable Rate Mortgage) that can be modified to 15 year or 30 year Fixed Mortgages at the end of construction. We also have 80/10/10 loans available to help keep your payments in line with your goals.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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