Loan Products

Fixed Rate Mortgage

Adjustable Rate Mortgage (ARM)

Jumbo Mortgages

FHA

VA

Construction

Residential Programs

Commercial Programs

 Fixed Rate Mortgage

With a fixed rate mortgage, you know exactly what your principal and interest payment will be each month for the life of your loan. It won’t change because your interest rate doesn’t change. Your taxes and insurance component of your payment towards escrow can change (and probably will) if your taxes and insurance change. Unfortunately, there’s no way to lock those in.  If interest rates go up, you’re protected with a fixed rate mortgage.  But, you won’t benefit if rates go down. You can always take advantage of falling rates by refinancing.

Fixed rate mortgages might be right for you if:

• Want the security of a fixed principal and interest payment.
• Think that interest rates will go up.
• Are on a fixed or limited budget.

 Adjustable Rate Mortgage (ARM)

Compared to fixed rate mortgages, Adjustable Rate Mortgages (ARMs) offer a lower interest rate to start, so your monthly payments are generally lower. But, the interest rate moves up and down with the market based on an "index". Some of the more common indices include U. S. Treasury Bills, Cost of Funds Index (COFI) and the London Interbank Offered Rate (LIBOR).  Most ARMs have an initial fixed rate period where the interest rate doesn’t change followed by the rest of the loan’s lifetime period where the rate is adjusted at predetermined intervals. Many ARMs have caps that limit how much your interest rate can change per period as well as for the life of the loan.

Also be aware that there are some very low rates ARMs that start out with "discounted" rates. These discounted rates are below the market rate and will definitely go up at the first adjustment period.

Adjustable rate mortgages might be right for you if:

· You want more property than you can qualify for now with a fixed rate.

· You are confident your income will increase or rates will not go up much.

· You plan on selling or refinancing within seven years of buying your home.

 Jumbo Mortgages

Jumbo Mortgages or nonconforming loans exceed the loan limits set by the two publicly chartered corporations (Fannie Mae and Freddie Mac) that buy mortgage loans from lenders. The 2006 single family loan limit is $417,000. If you need to borrow more than that amount, you need a jumbo mortgage. These jumbo mortgages typically have a higher interest rate than conforming mortgages.

 FHA/VA

The Federal Housing Administration (FHA) provides a loan guarantee program instead of the standard private mortgage insurance (PMI) so qualified borrowers can get a mortgage loan with a down payment as low as 3%. The FHA doesn’t make the loan but rather they guarantee the loan minimizing the lender’s financial risk. FHA loans usually offer fairly liberal qualifying criteria compared to Fannie Mae and Freddie Mac and involve small down payments. The Veteran Administration (VA) also guarantees no down payment loans for the purchase of new and used homes and condos for eligible veterans of their spouses. Eligible veterans must have served 181 days of active duty. There is a 2% guarantee fee added to the loan amount so the borrower doesn't have to pay any private mortgage insurance. They offer both fixed and adjustable loans. Also, the loans are assumable.

 Construction

Construction loans are used to finance the building of a new home rather than purchase an existing home. They are usually variable-rate loans that have interest only payments during the construction phase. Draws are scheduled based on the stages of construction to pay the builders.

Many construction loans are construction-to-permanent which means that when construction is complete, the loan is modified to a permanent mortgage. This has the advantage of a single loan with one closing.

    Residential Programs

Free Prequalification

VA/FHA/Conventional Loans, All types of Government Loans

1^st Time Home Buyers

100% Investment Property with 680 Fico ( 2, 4 Plex) ( 8, 12 Plex)

100% Loans with no PMI

Construction/Perm Loans- one or two time close

560 Credit Scores- 100% financing

Refinance/Debt Consolidation/ Slow Credit

1 Day out of Bankrupcy—100% financing!!!

No Job/Self Employed-  NINA or Stated Income/Asset

40 Year Mortgages

Jumbo Loans up to 3 million

Pay Option Arm Products

3,5,7 10 yr Arm Products

     Commercial Programs

Loan amounts: $500,000 to $3,500,000
Loan to value: 80% purchase, 75% cash out
Purchase: 85% CLTV with seller second
Terms: 6 month, 3,5,7,10 year ARMS, 30 year amortization
680+ credit score
Rates and terms depend on LTV, property type and credit score
No balloons - longer fixed periods than most banks
Multifamily, mixed use, retail, office, warehouse, light industrial, self storage and more....
Available in key major markets nationwide

SELECT NON-RECOURSE
Loan amounts: $1,000,000 to $6,000,000
Loan to value: up to 80%
5, 7 and 10 year terms
30 year amortization
Fixed Processing fees
Streamline Process
Multifamily, mobile home parks, retail, industrial, office, self storage, free-standing drugstores