LOAN PROGRAMS

"A" PAPER HOME MORTGAGE PROGRAMS First Time Home Buyer Loan Program Whether you're a first time home buyer or simply starting over, a First Time Home Buyer loan can help. It's a fast, streamlined way to help new home buyers with the necessary cash at closing for their down payment and closing costs that they do not have to repay. Fixed and adjustable rate mortgage products up to 100% LTV/CLTV. Conventional Home Mortgage Loan Program Conventional conforming home loan, including fixed and adjustable rate mortgage products, fixed period ARMs, and balloon loans to meet a lot of borrowers' needs. For larger home mortgage loan amounts, there are jumbo home loans to $650,000, super jumbo loans to $1,000,000, and mega mortgage jumbo loan products to $2,000,000. Fast & Easy Home Loan Program - Great Price for Great Borrowers! The Fast & Easy home loan program offers borrowers with excellent credit a home loan up to 90% LTV/CLTV without verification of assets or income. This home loan program offers a great price for borrowers with high quality credit. Just like its name, it's fast, very easy and there's an 80/10/10 with a Super Streamline HELOC under this home loan program to avoid Mortgage Insurance. Borrowers can be self employed or salaried, and there are no reserve requirements with a low down payment loan. Expanded Criteria Home Mortgage Loan Program Getting turned down or spending hours finding a loan just because your finances don't fall within the "cookie cutter" criteria for a traditional loan program. Expanded Criteria program is the answer. These "A" paper loans are offered for fixed rates, ARMs and Conforming Fixed 3/1, 5/1, 7/1 & 10/1 ARMs. There are also many no income loan programs such as Reduced Doc, No Ratio and No Income/No Asset loan programs. Zero Down Payment Assistance mortgage products: Down Payment Assistance Program. Zero Down Payment 103% Plan up to $375,000, a loan that allows borrower's to finance up to 100% LTV. They can even include up to 3% closing costs and prepaid fees in the home loan amount, for a total loan LTV of 103%!* Zero Down Payment, 80/20 with a combined mortgage loan amount up to $500,000.The second mortgage loan can be a HELOC or Fixed Rate and there are no home Mortgage Insurance loan requirements. *Not available in all areas FHA and VA Home Mortgage Loan Program Common government home mortgage loans, including: 203(b) Fixed Mortgage Rate Loan (First Time Home Buyer) 251 ARM home loan 234(c) Condo Financing home loan FHA Streamline Refinance home loan VA IRRRLs (interest rate reduction refinance home loan) Teacher Next Door home loan Many government loans allow minimum down payment and/or down payment assistance home loan for a true zero no down payment home buyer loan. FHLMC Affordable Gold 97 - Low Income Home Loan Financing This program is the "simple" answer for low to moderate income financing. As long as a borrower's income doesn't exceed 100% of the MSA median income, he or she may qualify for as little as 3% down. Plus, the down payment can be a grant, "affordable second" or unsecured mortgage loan (from a non-profit organization, government agency or the borrower's employer), or can come from the borrower's own funds or a gift from a family member. Only one month of reserves is required. Premium pricing is allowed for closing costs/prepaids, and home buyer education is not required! Flex 97 - Ideal First Time Home Buyer Loan Program This program is ideal for the First Time Home Buyer and move-up borrowers who lack the funds for a down payment and closing costs but have good credit. Borrowers may qualify for a Flex loan with as little as 3% down payment plus, the down payment can be a grant, gift, an "affordable second" or "unsecured loan". Also, there are no median income restrictions and no first time home buyer education requirements. Rural Housing Grant Home Loan Program The Rural Housing Service (RHS) loan is an affordable home lending product designed to get residents in designated rural areas into a home that they would not otherwise qualify for. Some of the most attractive features for this home loan include: 100% LTV based on the appraised value of the home No down payment (zero down payment) No cash reserves required (great for a first time home buyer) No MI requirement (a guarantee fee is required) Manufactured home housing permitted HOME EQUITY MORTGAGE LOAN PROGRAMS Within Every Home Lies a Wealth of Opportunity! Home equity credit is one of the most popular forms of consumer credit among home owners. There are lines of credit and second liens on a home loan available to 125%. These home equity loan products offer minimal paperwork, low start rates, and three different risk grades to help qualify home borrowers to get a great home equity loan. Tandem Home Loan Program - One Call, Two Loans, So Many Benefits! When borrowers "tandem" a Home Equity Line of Credit (HELOC) or Fixed Rate Second loan with their first mortgage, they may qualify for a larger total home loan amount, eliminate MI, or avoid jumbo loan pricing. Tandem Home Loan Programs let you close two loans at the same time without extra documentation! For example, you have an 80/20 Tandem package under the Expanded Criteria family, requiring no down payment, and STILL no MI! There's also have an 80/10/10 with a Fast & Easy home loan program for borrowers with excellent credit, which allows a great home loan at a great price, up to 90% CLTV with no mortgage insurance and no reserves. Streamline Home Equity Line of Credit! Streamline Home Equity Line of Credit is a pre-approved home equity loan for borrowers who are funded with an eligible servicer first mortgage up to six months ago. There's no documentation requirements and the Super Streamline HELOC loan can close concurrently with a Fast & Easy home loan for salaried or self-employed borrowers with excellent credit, a great home loan package at a great price, up to 90% CLTV, with no reserves and no home mortgage insurance. Fixed rate seconds and home equity loan seconds are not available in all states. Contact your lender for restrictions on home equity products in your state. Recording or stamp fees may apply in some states on Tandem mortgage home loans. HOME MORTGAGE INSURANCE ALTERNATIVES Tandem Home Mortgage Loan Program Borrowers can avoid mortgage insurance with a Tandem alternative. By doing a first and a second mortgage home loan, borrower can avoid mortgage insurance, increase their tax deductions, or avoid Jumbo pricing and Jumbo payments. There's little to no extra paperwork and you can save money in most cases. There are several different Tandem Home Mortgage Loan opportunities, including: 100% CLTV loan 80/20 95% CLTV loan 75/20/05 80/15/05 90% CLTV loan 75/15/10 80/10/10 Any time your down payment is less than 20%, a Tandem first and a second home mortgage loan is a great way to avoid mortgage insurance and/or Jumbo pricing, as well as save money on your total home monthly payment! Mortgage Insurance Alternatives. There are smart alternatives to regular mortgage insurance. By folding the cost of mortgage insurance into the loan, borrowers may realize a tax deduction,** plus a lower net monthly home payment that can help make first time home ownership more affordable. Home mortgage insurance alternatives are available in several versions, depending on a home borrower's financial circumstances: Monthly Tax Advantage MI features an add-on to the home loan's interest rate to cover the cost of MI, resulting in a potentially greater tax deduction than with the traditional mortgage insurance you would pay on your home loan. One-Time Tax Advantage MI features a 3-point increase in the home loan amount, which is financed over the life of the home loan and typically results in a lower home monthly payment than with traditional mortgage insurance. **Borrowers should consult their tax advisor regarding the deductibility of mortgage interest. Please contact your local branch for any restrictions on home Mortgage Insurance and eligible home loan types in your state. SUBPRIME HOME MORTGAGE LOAN PRODUCTS Flexible guidelines, aggressive pricing and exceptional service is available to home borrowers with a wide range of financing solutions. When you use an automated underwriting system, you can get an underwriting outcome for your subprime loan in minutes. Home mortgage loan products usually include 15 and 30 year fixed and adjustable rate mortgage products, fixed period ARMs, reduced pricing options, even a rate-reduction loan for home owners who pay their mortgage loan on time every month. A through D credit grades fit even the most demanding home borrowers. EXPANDED HOME MORTGAGE LOAN APPROVAL This is a series of niche products intended for borrowers with just slightly impaired credit. These are borrowers who fall just below A-paper criteria, but who don't really belong in a traditional subprime home mortgage loan product. With Expanded Loan Approval (ELA) loans, borrowers can get better terms and pricing than they would get with subprime home loans, with LTVs as high as 95%. ELA loans are available for purchase money, rate-and-term refi's, even cashout refi's. Allowed property types include second homes, owner-occupied one and two-unit residences, manufactured home, and approved condos. There's even a mortgage loan program that allows borrowers to lower their interest rate after two years based on timely payments.