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| CONVENTIONAL CONFORMING PRODUCTS |
| CONVENTIONAL PURCHASE PRODUCTS |
| JUMBO (OVER $417,000 LOAN AMOUNT) PRODUCTS |
| CHALLENGING CREDIT? |
| INVESTMENT HOMES PRODUCTS |
| 2ND MORTGAGE / LINE OF CREDIT PRODUCTS |
| REVERSE MORTGAGES |
Rates last updated on Thursday, August 07, 2008
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CONVENTIONAL CONFORMING PRODUCTS
Whats HOT?
102% financing! Yes its true!
Finance 100% of your purchase price PLUS 2% of your closing costs! Conventional 30 yr fixed purchase product. Allows for a 620 or higher credit score. Geographical area limitations as well as income limitations apply.
Are you in an Adjustable Rate Mortgage still? TIME TO REFINANCE!
Interest Only Products - Havent refinanced yet? Look here!
Refinancing with FREE Home Equity Line of Credit to eliminate PMI.
Combining a 1st and 2nd together? Remember, PMI is now tax deductible.
Consult your tax advisor.
Term: 30 years
Maximum Amount: $417,000
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CONVENTIONAL PURCHASE PRODUCTS
Conforming loan limit is now $417,000.
Arizona has been removed from the declining housing markets list! Back to a minimum of 5% down payment requirement.
NEW** Ask about the seller paid 1st 6 months of the buyers mortgage payments!
Remember, PMI is tax deductible now. Consult your tax advisor.
Adjustable rate and fixed rate mortgages with Interest Only Options.
With the amount of inventory in the Arizona market, there is literally no reason YOU should not be a homeowner!
Term: 30 years
Maximum Amount: $417,000
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JUMBO (OVER $417,000 LOAN AMOUNT) PRODUCTS
Any loan over the conventional loan limit of $417,000 is automatically considered a Jumbo loan.
NEW** Ask about an alternative option to Jumbo up to 1million with no PMI!
Fixed and adjustable rates available.
Creative financing to avoid PMI or to reduce 1st mortgage below $417,000 to qualify within the conforming loan limit.
Term: 30 years
Maximum Amount: $5,000,000
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CHALLENGING CREDIT?
Alternative loans available for ALL types of credit situations!
Bankruptcy/ Foreclosure OK.
Interest Only fixed rate options and 40 yr term options now available on alternative products!!!
Term: 30 years
Maximum Amount: $417,000
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INVESTMENT HOMES PRODUCTS
Thinking of an investment property? With over 50,000 listings in MLS- now is the time!!
Fixed and adjustable rates available.
Term: 30 years
Maximum Amount: $417,000
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2ND MORTGAGE / LINE OF CREDIT PRODUCTS
No closing costs 2nd mortgages. Home equity line of credit or fixed rate mortgages both with ZERO closing costs!
Simple and quick to acquire!
NEW! Business line of credit!
Term: 15 years
Maximum Amount: $500,000
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| 2nd mortgages are available as fixed loans or lines of credit. They are also available with full income documentation or in many situations with no income/ asset verification. |
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REVERSE MORTGAGES
A Reverse mortgage allows borrowers over the age of 62 to use their equity in their home to their advantage. If the property is free and clear they can get payments paid BACK to them on a monthly basis to assist in supplementing their monthly income. If the property has a mortgage, they can use the reverse to payoff the existing mortgage and no longer be burdened with monthly mortgage payments.
No income, asset or employment verification.
Borrower retains full ownership in the home and the proceeds are tax free (consult your tax accountant)
Monies can be received in either payoff of an existing loan, monthly installments back to the borrower, one lump sum or a line of credit.
The loan is tremendously flexible and provides a sense of peace and relief to a fixed income individual.
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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 $333,700 with closing costs of $10,674. 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 $500,000 with closing costs of $14,000. Your actual APR may be different depending upon these factors.
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