| PROGRAM/RATE | DETAIL |
|---|---|
| FNMA/CONV. | 5% Downpayment required on all purchases.First time buyers can ask the sellers to pay closing cost for them up to 3%.PMI required for this mortgage. Buyers can avoid PMI by incresing downpayment to 20%.Gift may be allowed from relatives for downpayment/and or closing costs.First time buyers ? Call us Today and buy your one or two family home with 5% Downpayment. |
| Pre-Payment Penalty (BIG SAVINGS) | Save money by taking Pre-payment penalty. This works best when you know that. 1. You do not want to pay early. 2. Want to take adventage of deducting interest to a full extent towards income tax. 3. Do not want to sell for 5 years or longer. |
| OUR NO FEE FOR PURCHASE TELL A REALTOR/FRIENDS | 5% Down and good credit required for purchase. Save $845 towards Fees such as appraisal($225),credit report($25),underwriting or commitment($495),Tax service($87) and flood certification(13).Total=$845 (you do not pay under the NO FEE program.Most lenders and brokers charge these fees.(OUR FEES IS ONLY $250 for appraisal & credit reports which is waived for purchase) |
| NO COST PROGRAM REFINANCE/PUR | We pay -Appraisal($225),Credit report($25),Underwriting/commitment ($495*),Tax Service($87*),Flood Cert($13*),Title/attorney fees($325),recording fee($150) and title Insurance-$2.75/1000 refinance or$3.25/1000 for purchase (Mortgage Amount).This is our NO CLOSING COST Program.(*We do not have these fees) |
| MTA-ARM EASY QUALIFYING | We offer 5 and 10 year fixed payment. Your payment will adjust with MTA index plus margin. You will be qualified at starting rate. Best for buyers who like to buy higher priced homes and deduct interest and keep same principle balance. You can make minimum payment at intial offered rate or pay interest only if desired.15 Year payment can be arranged if desired. |
| NO PMI 80-10-10 80-15-5% | Down payment required-15% or 10%.You will be responsible for second mortgage-will be at higher interest rates. |
| SBA Small Business | Buy a business and let uncle sam help you.Business experience required but not necessary.Down payment requirement depends on-Your experience & risk (10%-30%).You can also finance working capital or inventory.Real Estate also can be financed under this program. |
| COMMERCIAL | Strip malls,Mixed use,Hotels & Motels,Apartment Buildings etc.Down Payment varies from 15% and up -Lesser risk will require less Downpament & Higher risk will require more downpayment. |
| 100% Financing or 125% Financing | Finance up to 100% -For new home purchase or REFINACE and make improvement to home or pay off high rate credit cards.Make one monthly payment.Good credit required. |
| NEW CONSTRUCTION BUILD NEW HOME | Build your new home.10% Downpayment-Pick your own builder. |
| Adjustible 1/1,3/1,5/1,7/1 | These products have fixed rates during 1,3,5 or 7 years and will adjust with index+margin after initial terms.This product is good for buyers who want shorter term and like to save money on interest rates during the intial period. |
| No Income No Assests | Good for buyers with lots of cash and income but cannot be documented like taxi drivers and people with lots of tips income. Buyers do not verify source for downpayments and income. Also known as no doc.Must have good credit history. |
| Stated Income AND Assests | Under this program we believe what you say about your income and assests.Good credit required and you must have credit history. |
| COFI | Your rate will adjust monthly with index+margin.Best for buyers who want low payments during initial period.Buyers can pay interest only payments and keep same principle all of the time and save on income tax by deducting interest payments.Downpayment varies from 5% and up. |
This information is not an advertisement to extend customer credit as defined by paragraph 226.24 regulation Z. Rates and fees subject to change without notice.