Products
CONFORMING OR JUMBO FIXED RATE FINANCING
Fixed Conventional Financing Options for Most Borrowers. Fixed Rate Conforming ($300,700 single unit) or Jumbo financing for your home purchase or refinance. Level payments of principal and interest fixed for the life of the loan. This is the most common financing option used by consumers today. Most programs allow for little or no down payment.
Key Benefits
- Contains housing expense through fixed rate enabling better budget control
- Typically higher loan-to-value with good credit
- No pre-payment penalty
- Terms of 10, 15, 20, 25 and 30 years
ADJUSTABLE RATE CONFORMING OR JUMBO FINANCING
Loan programs fixed for a 3 -5 year period then adjusting annually. Adjustable Rate Loans are great for those who intend to occupy their home for just a few years - or know of significant financial events in their lives. Fixed for the first 3-5 year these loans adjust annually thereafter based upon either a U.S. treasury index or LIBOR
Key Benefits
- VERY Low introductory rates - keeping payments lower early on
- CAPPED floors and ceilings - your rate won't go higher or lower than these
- Reductions in loan amounts reduce payment amounts on adjustment years
HOME EQUITY LINE OF CREDIT
Second Mortgage product - line of credit to use as you wish. A home equity line of credit is a great way to tap into the equity of your home for large purchases or investments such as cars, education, boats, home improvements, R/V's
Key Benefits
- Tied to the Prime rate with a cap of 18%
- Interest is deductible on most tax returns
- "Loan" can be used over-and-over again during the draw period
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