CONVENTIONAL - Traditional loan programs that usually require 5-20% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary. Back to Top

NO INCOME VERIFICATION - Loans where your income is not requested or verified with as little as 10% down are stated income loans. There are several varieties of the "no-doc" loan today. The type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income, or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose income but select a program that doesn't calculate debt-to-income ratios, allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.  Back to Top

NO DOWN PAYMENT - Zero Down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).  Back to Top

CREDIT PROBLEMS - Troubled credit? Bankruptcy? Been turned down somewhere else? We offer loan programs for customers with credit problems.  Back to Top

100% or 80/20 - This is a loan which carries a second mortgage for up to 20% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 0% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 20% of the purchase price. Other variations are 80/15/5 or 80/10/10.  Back to Top

JUMBO LOANS - Loan amount above $417,000. Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation. Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.  Back to Top

HIGH DEBT RATIO LOANS - A ratio of monthly bills to monthly income higher than 50% is considered a high debt ratio. Loan programs are available for borrowers in this situation, allowing them to finance the purchase of a home or property.  Back to Top

2ND MORTGAGE LOANS - Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. This is convenient when you have a low interest first mortgage.  Back to Top

INVESTOR LOANS - Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced, these programs have many variations such as No Doc, Limited Doc and Full Doc. Program may not be available in some states. Back to Top

NEGATIVE AMORTIZATION - Adjustable rate mortgages with potential for deferred interest, sometimes referred to as negative amortization mortgages, deferred interest mortgages, or Neg-Am mortgages are probably the most widely misunderstood, and emotionally charged loan products available today.  Back to Top