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| USDA Guaranteed Rural Housing Loan Program |
| 80/15/5 |
| 80/10/10 |
| 80/20 |
| Option ARM |
| 30 Year Fixed |
| 20 Year Fixed |
| 15 Year Fixed |
| Home Equity Line of Credit |
| 30 Year Fixed Jumbo |
| 15 Year Fixed Jumbo |
| 3/1 ARM |
| 5/1 ARM |
| 3/1 Jumbo ARM |
| 5/1 Jumbo ARM |
| Small Commercial up to $2,000,000 |
| Interest Only |
| Reverse Mortgage |
| Fixed Rate Second Mortgage |
Rates last updated on Tuesday, June 05, 2007
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USDA Guaranteed Rural Housing Loan Program
Through USDA's Guaranteed Rural Housing Loan Program, low - and moderate - income people can qualify for mortgages even without a down payment.
Term: 30 years
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Overview: USDA 100% Financing - No Down Payment Required! Single family homes, townhouses and approved condos in eligible areas. Income limits apply. Closing costs can be included in the loan. |
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80/15/5
Avoid Private Mortgage Insurance (PMI) with only 5% down payment!
Term: 30 years
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In order to avoid private mortgage insurance (PMI), we can structure the transaction into two mortgages. We can do a first mortgage at 80% of the sales price and a second mortgage at 15% of the sales price. This will avoid PMI and make the interest on the second mortgage tax deductible. PMI is NOT tax deductible. |
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80/10/10
Avoid Private Mortgage Insurance (PMI) with only 10% down!
Term: 30 years
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In order to avoid private mortgage insurance (PMI), we can structure the transaction into two mortgages. We can do a first mortgage at 80% of the sales price and a second mortgage at 10% of the sales price. This will avoid PMI and make the interest on the second mortgage tax deductible. PMI is NOT tax deductible. |
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80/20
Avoid Private Mortgage Insurance with no money down!
Term: 30 years
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In order to avoid private mortgage insurance (PMI), we can structure the transaction into two mortgages. We can do a first mortgage at 80% of the sales price and a second mortgage at 20% of the sales price. This will avoid PMI and make the interest on the second mortgage tax deductible. PMI is NOT tax deductible. |
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Option ARM
At last, a mortgage that puts you in control of your monthly payments.
Term: 30 years
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| Rates | Points | APR |
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| 1% | 0% | 1.324% |
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The Option ARM is designed for maximum flexibility and maximum affordability. This is a monthly adjustable rate mortgage. You have four payment options each month! You can choose EACH month whether to pay a 30 year amortization payment, a 15 year amortization payment, an interest only payment or a minimum due payment. Having up to four payment options allows you to manage your cash flow and overall financial picture on a monthly basis. |
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30 Year Fixed
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.375% | 0% | 6.52% |
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20 Year Fixed
Term: 20 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.25% | 0% | 6.44% |
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15 Year Fixed
Term: 15 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.125% | 0% | 6.363% |
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Home Equity Line of Credit
We offer many Home Equity Lines of Credit. Our most popular is a rate at PRIME as long as the line is at least $75,000, credit score of 720+ and a combined loan to value of 90%.
Term: 20 years
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| Rates | Points | APR |
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| 8.25% | 0% | 4.217% |
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30 Year Fixed Jumbo
Term: 30 years
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| Rates | Points | APR |
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| 6.5% | 0% | 6.587% |
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15 Year Fixed Jumbo
Term: 15 years
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| Rates | Points | APR |
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| 6.25% | 0% | 6.392% |
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3/1 ARM
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.375% | 0% | 4.465% |
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5/1 ARM
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.5% | 0% | 4.892% |
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3/1 Jumbo ARM
Term: 30 years
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| Rates | Points | APR |
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| 6.375% | 0% | 4.44% |
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5/1 Jumbo ARM
Term: 30 years
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| Rates | Points | APR |
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| 6.375% | 0% | 4.813% |
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Small Commercial up to $2,000,000
Stated Income/Stated Asset for commercial loans between $100,000 - $800,000. Property types include: Mixed use, Multi-family 5+, Retail/Office/Warehouse, Automotive/Industrial, Bed & Breakfast, Self-Storage, Mobil Home Park, Funeral Homes, Rooming House, Day Care, Motel/Hotel, Campground, Bar/Restaurant, and Car Wash to name a few.
No Environmental tests required! Environmental insurance is required which ranges from $1,000 - $3,000 depending on property.
Term: 30 years
Maximum Amount: $1,000,000
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| Rates | Points | APR |
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| 8.625% | 1% | 7.58% |
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Assuming credit score of at least 700 |
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Interest Only
5/1 ARM Interest Only
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 6.5% | 0% | 5.242% |
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Reverse Mortgage
Call for guidelines for this exciting mortgage program!
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Fixed Rate Second Mortgage
Fixed Rate Second Mortgage. Rate assumes 80% LTV and a minimum credit score of 725. Mortgage Madness has programs that go as high as 100% LTV and scores as low as 620. Call today!
Term: 30 years
Maximum Amount: $416,000
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| Rates | Points | APR |
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| 7.4% | 0% | 7.869% |
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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 $200,000 with closing costs of $3,000. 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 $417,001 with closing costs of $3,500. Your actual APR may be different depending upon these factors.
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