|
|
 |
|
 |
|
|
| |
| 100% Conventional |
| Construction-One Time Close Program |
| Conventional "A" |
| Conventional "B" |
| MANUFACTURED HOMES |
| Non-Owner Occupied (Purchases & Refinances) |
| Prime & Sub-prime Loans |
| Ranch Land Products |
| Rural Properties with Home |
| Second Homes |
| Texas Home Equity |
| VA |
|
100% Conventional
This can be "A" or sub-prime "B" paper. This loan enables the borrower to buy a home with no money down and the seller can contribute up to 3% of the sales price towards the borrower's closing costs. Depending on the lender, the seller can contribute 3% or 6% of the sales price towards the borrower's closing costs.
|
 |
Construction-One Time Close Program
This home financing program combines your new home's construction costs and permanent financing into one convenient loan. This means only one approval, processing, and closing is required - benefits that save you time and money. Other one-time features include: no duplicate closing costs, low down payments, multiple permanent financing options including both fixed and adjustable rates. You also may enjoy potential tax savings during your home's construction.
|
|
Conventional "A"
These loans are Fannie Mae or Freddie Mac. Conventional loans also include your JUMBO loans (amounts over $333,700). Down payments vary from 3% to 5% depending on your borrower. The interest rates are competitive and require monthly mortgage insurance with loan-to-value higher than 80%. The seller can contribute up to 3% of the sales price towards the borrower's closing costs on most conventional loans.
|
|
Conventional "B"
These loans are Fannie Mae or Freddie Mac. Conventional loans also include your JUMBO loans (amounts over $333,700). Down payments vary from 5-20% (or more) and rates are higher. There is no monthly mortgage insurance and the seller can contribute up to 6% of the sales price towards the borrower's closing costs on most loans. Taxes and Insurance are not usually escrowed and allow a second lien carried by the seller to help with the down payment. Most of our programs require the buyer to have 5% seasoned funds of their own, and the additional money can be a seller second. Most of these loans do carry some sort of Prepayment Penalty.
|
|
MANUFACTURED HOMES
PLEASE CALL FOR MORE DETAILS.
|
|
Non-Owner Occupied (Purchases & Refinances)
Please contact us for details on this product.
|
|
Prime & Sub-prime Loans
Please contact us for details on this product.
|
|
Ranch Land Products
Please call us for more details.
|
|
Rural Properties with Home
Please contact us for details on this product.
|
|
Second Homes
Refer to the Conventional loans on this product.
|
|
Texas Home Equity
Please contact us for details on this product.
|
|
VA
This is a government loan for military personnel, veterans or reservists. This program is 0% down and the seller can pay up to 4% of the closing costs and prepaids. The veteran needs to obtain a current Certificate of Eligibility showing full entitlement. Active soldiers must have 1 year left of service or provide documentation of intention to re-enlist or contract for a job when his/her service term is complete. If the veteran has used his/her eligibility before, they may re-use it. The maximum loan amount for VA is $333,700.
|
|
|
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.
|
|
|
|
|
|