Fixed Rate Loans
- 30-, 25-, 20-, 15- and 10-year terms are all available with fixed rate.
- Buy a home with as little as 3% down (primary home).
- Refinance up to 95% of your primary home's value.
- Monthly payments remain the same for the entire loan term.
Adjustable Rate Loans
- 3/1, 5/1, 7/1 and 10/1 ARM's. Monthly payments based on a 30 year repayment schedule.
- The rate stays fixed for the first 3, 5, 7 or 10 years (depending on chosen term), and then adjusting annually thereafter.
- 3.50% minimum down payment required on purchase.
- Minimum credit score usually 620.
- Post-bankruptcy qualifying - 2 years after.
- Post-foreclosure qualifying - 3 years after.
- Competitive interest rates that are routinely lower than conventional rates.
- Sellers can pay up to 6% of closing costs and concessions.
- Higher allowable debt-to-income ratios than for many other loans.
- Downpayment as low as 0%.