Below are just a few examples of our many mortgage products. Keep in mind each product will have a specific set of parameters, as well as requirements to qualify, and are subject to change.  Several programs are no longer available. But, don't let that stop you from calling to see what's available. If you see something you are interested in, please contact us to find out more! If one product doesn’t fit, we’ll try and find one that will.

100% Financing
A loan provided through a single lender, that finances 100% of the appraised value of the home or 100% of the purchase price. TOP

100% Financing (Fannie Mae and Freddie Mac’s Competitive Product to FHA)
A loan intended to encourage homeownership to borrowers in designated areas, at a slightly higher-than-conforming interest rate. Allows for a minimum $500 investment from the buyer, who then may also qualify for assistance with closing costs up to 3%. TOP

Adjustable Rate Mortgage (ARM)
A loan amortized over a term of 30 years. Some lenders offer amortizations of up to 50 years, which offers a low interest rate for either a one, three, five, seven or ten year period. The shorter the initial term, the lower the rate. After the initial fixed period, the interest rate and payments can fluctuate throughout the life of the loan according to the terms of the agreement, which is based on a specific index tied to market conditions. TOP

Balloon
A loan featuring a fixed rate covering a certain period of time, usually five, seven, or ten years. After the initial period, the entire loan balance is due, meaning it must be paid in full (a balloon payment) either by refinancing or selling the home. TOP

Bridge
A loan perfect for timely real estate acquisitions, because it allows a purchaser to act quickly. The bridge loan is short-term financing for borrowers who would like to purchase a home by using equity in the home they currently have on the market for sale. TOP

Conforming
A loan available in 10, 15, 20, 25 and 30 year terms, that meets a certain set of standards and borrowing guidelines as they relate to subject property, income, credit, liquid assets, loan-to-value, and supporting documentation. TOP

Conforming - Expanded
A loan that conforms to the guidelines set by Fannie Mae or Freddie Mac. These loans meet the guidelines as they relate to subject property, income, credit, liquid assets, loan- to-value, and supporting documentation. And in exchange for a higher interest rate on the loan, the expanded program may show leniency toward adverse credit circumstances. TOP

Construction
A loan providing financing for building a new home. TOP

Combination Financing
Two loans allowing maximum financing that close simultaneously, and will fund the purchase or refinance amount, with or without a down payment. Combination financing typically eliminates the need for mortgage insurance. Examples of combination financing include 80/20 (no down payment), 80/10 (with 10% down payment), and 80/15 (with 5% down payment). TOP

Fixed Rate
A loan where the interest rate stays consistent throughout the term of the loan. Fixed rate mortgages are available with terms of 10, 15, 20, 25, 30, or 40 years. TOP

Home Equity
A loan allowing borrowers to obtain a lump sum of cash derived from some or all of the equity in the subject property, which may feature a fixed or variable interest rate, and varying repayment terms. TOP

Home Equity Line of Credit
A loan allowing borrowers to obtain access to a line of credit equal to some of or all of the equity in the subject property, which may feature a variable interest rate and a varying repayment term. TOP

Interest Only
A loan where monthly installments equal the interest accrued on the loan balance. The loan balance does not decrease with the payments. Usually the interest-only payments last for a limited period, after which payments rise and the borrower begins paying principal in addition to interest. TOP

Jumbo
Jumbo loan amounts are greater than the standards set by Fannie Mae and Freddie Mac for conforming loans, beginning at $417,001, and are available in fixed-rate (15 and 30 yr.), variable rate (1, 3, 5, 7, and 10 yr.), and interest-only options (3, 5, 7, and 10 yr.). The interest rate is slightly higher than that of a conforming loan. TOP

Mortgage Only
A loan solely based upon mortgage payment history. TOP

Negative Amortization
A fairly complicated loan where, on a monthly basis, a borrower is allowed to pay an amount less than the amount of interest that is accruing on the loan balance. The difference between what is paid on a monthly basis and the amount of interest accruing is then added to the loan principle balance at a pre-determined point. TOP

No Income Verification
A loan primarily used by borrowers who are self-employed and may have verifiable liquid assets along with acceptable credit scores meeting lender criteria. Income verification is not a strict requirement. TOP

No Income Verification/No Asset Verification
A loan primarily used by borrowers who are self-employed and possess acceptable credit scores meeting lender criteria. Income and asset verification is not a strict requirement. TOP

No Income Verification/No Asset Verification/No Employment Verification
A loan primarily used by borrowers who are self-employed and possess acceptable credit scores meeting lender criteria. Income, asset, or employment verification is not a strict requirement. TOP

No Ratio
A loan used by borrowers who have acceptable credit scores and verifiable assets. Otherwise, the loan approval requires little supporting documentation. TOP

Non-Prime
A category of loan products designed to fulfill the need of borrowers whose credit-worthiness or debt-to-income ratios fall outside Fannie Mae expanded guidelines. TOP

Renovation
A loan which is similar to a construction loan but the dollar amount of which is taken out on a proposed value is as if the renovations were complete. The renovations must be completed by a licensed contractor pre-approved by the lender in advance, and is paid directly through the lending institution. TOP

Second Mortgage
See Home Equity Loan and Home Equity Line of Credit. TOP

Stated Income
A loan primarily used by borrowers who are self-employed and possess acceptable credit scores meeting lender criteria. In some cases, income may be verified at the lender’s discretion by requesting verification from the Internal Revenue Service. At a minimum, a lender will verify with the Internal Revenue Service that tax returns have been filed.  Assets and employment may also be verified at the lender’s discretion. Documentation provided by the borrower is typically minimal for this type of loan. TOP