|
| |
| Conventional -- 95% Loan to Value (LTV) |
| FHA -- 3% Minimum required |
| VA -- 100% Financing |
| Bond Loans -- First Time Homebuyer (not owned home in past 3 years) |
| Rural Development -- 100%+ Financing (under certain conditions) |
| Non-Conforming -- Require credit score of 660 or above |
|
Conventional -- 95% Loan to Value (LTV)
Fixed Rate and Adjustable Rate Mortgages
PMI required on LTV's over 80%
|
 |
FHA -- 3% Minimum required
10 to 30 Year Terms
Mortgage Insurance Premium (MIP) Required
|
|
VA -- 100% Financing
One Tme VA Funding Fee (included in loan amount)
No Mortgage Insurance Required
|
|
Bond Loans -- First Time Homebuyer (not owned home in past 3 years)
30 year fixed rate terms only
Low interest rates and/or assistance available for closing costs
Special Teacher Program
Must not exceed income limitations based on number in household
Supports Conventional, FHA, VA and Rural Development loans
|
|
Rural Development -- 100%+ Financing (under certain conditions)
No mortgage insurance required
Allowed only in certain areas
Income limitations apply
|
|
Non-Conforming -- Require credit score of 660 or above
Program 1: Up to 95% LTV for Stated Income/Stated Asset (self-employed or salaried)
Program 2: Zero down with no MIP (Minimum credit score 700)
Program 3: 80/20, 80/15, 80/10 - Minimum credit score 660)
Other Programs available
|
|
|
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 $322,700 with closing costs of $6,454. 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 $322,701 with closing costs of $6,454. Your actual APR may be different depending upon these factors.
|