• 15, 25, 30, 40 year fixed Rate Loans

• Monthly payments are fixed over the life of the loan and the loan amortizes
• Loan terms can be fixed to Pay off home quicker
• Protected if rates go up
• Can refinance if rates go down

• Higher interest rates and cost short term
• Higher mortgage payments
• Rate does not drop if interest rates improve

• 10/1 ARM
• 7/1 ARM
• 5/1 ARM
• 3/1 ARM
• 1 year ARM

• Lower initial monthly payment
• Rates and payments may go down if rates improve
• May qualify for higher loan amounts
• 30 year term, no balloon payment

• More risk
• Payments may change over time
• Potential for higher payments if rates increase

• 3.5% DOWN AVAILABLE ON FHA PURCHASES FULL DOC
• SELLER CAN CREDIT UP TO 6% ON NON RECURRING CLOSING COSTS   /LOWER DOWN PAYMENT                                                 

fha fUNDING FEE

• WE OFFER 12-18 MONTH CONSTRUCTION lOANS
• INTEREST ONLY ON MONEY USED
• CAN FUND THE WHOLE HOME CONSTRUCTION LOAN INCLUDING LAND AQUISITION AND LEND  65-75% LTV  ON CASE BY CASE.  HAVE PRIVATE  MONEY  OPTIONS AS WELL AND SPEC PRODUCTS                                                         >HAVE SOURCES THAT CURRENTLY OFFER STATED INCOME CONSTRUCTION >LOANS CAN DO OWNER BUILDER OR SPEC >SEVERAL LOAN SOURCES

• May be subject to income and property value limitations
• points are charged    >Lending areas based on zip codes

• LENDS BASED ON COLLATERAL AND EQUITY, LAND, COMMERCIAL, RESIDENTIAL
• LENDING BASED ON SECURITIES AND NO CREDIT PULLED OR INCOME VERIFIED.  nO re COLLATERAL PLEDGES. FASTER CASH APPROVAL/LESS PAPERWORK, ESPECIALLY VS. SBA BUSINESS LOANS.
• GOOD for borrowers who may not qualify WITH A CONVENTIONAL LOAN PROGRAM DUE TO LOW CREDIT SCORE OR INCOME. CROSS COLLATERALS OK. WE HAVE CASHOUT MONEY TO LEND!

Higher rates HIGHER  POINTS            INVESTORS WANT TO KNOW EXIT STRATEGY

• You have several payment options
• Lower monthly payments
• Qualify for a higher loan amount
• Qualify at the interest only payment
• Option to pay the full normal payment
• Interest only payments for up to ten years                                                           Can go stated income as well!

• Higher rates
• Principal loan balance will not decrease during the interest only payment period
• Payment will be higher for the remaining term

• Low out-of-pocket loan costs at closing
• Closing costs are paid from the lender rebate
• Less money required to close
• Refinance without increasing your loan amount

• Higher rates
• Higher payments
• Some lenders may have a short payoff penalty which is usually charged to the loan broker, but may be passed on to you
• Some require a prepayment penalty for the first one to five years

• VA FUNDING FEE

• You only borrow what you need
• Pay interest only on what you borrow
• Flexible access to funds
• Interest may be tax deductible
• May be free of closing costs
• A good source for an emergency fund, if set up in advance
• Can be used for debt consolidation and lower payments
• Rates are usually lower than consumer loan or credit card rates

• Rates can change. The maximum interest rate can be relatively high
• Payments can change
• Hard TO OBTAIN RIGHT NOW refinance your first mortgage FOR CASH OUT IS EASIEST

• Can lend on unique situations
• Interest may be tax deductible
• Get cash out for any purpose! FAST cash.. less paperwork.  CROSS COLLATERAL AOK, Interest only loans COMMON.  Not underwritten to FNMA guidelines. Construction, Land etc. may also be aok

• Higher interest rates and points
• Harder to find the money
• Loans Typically due in 2-4 years  >Loans  max LTV to 55-65%   >Credit scores not much of a factor