|
AHFC First Time Homebuyer (Tax Exempt)
This program offers lower interest rates to eligible first-time homebuyers. First-time homebuyers are borrowers who have not owned a primary residence in the last three years.
back to top
AHFC First Time Homebuyer (Taxable)
This first-time homebuyer program offers a reduced interest rate to eligible borrowers without the income limits, acquisition cost limits, or recapture provisions of the tax-exempt program.
back to top
AHFC Veterans Mortgage Program (VMP)
Qualified veterans may obtain financing at lower interest rates. (Veterans may not have been discharged from active duty service more than 25 years prior to application date.)
back to top
AHFC Rural Owner Occupied Loan Program
Financing to purchase, construct, or renovate owner occupied housing in small communities.
back to top
AHFC Rural Non-Owner Occupied Loan Program
Financing to purchase, construct, or renovate rental housing in small communities.
back to top
Conventional
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.
back to top
FHA Mortgage
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3% down payment – and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
back to top
VA Mortgages
Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person.
back to top
Flex 100%
Similar to FHA, but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680.
back to top
Investor Loans
Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced, these programs have many variations, including: No Doc, Limited Doc, and Full Doc. Program may not be available in some states.
back to top
Second Mortgage Loans
Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation, or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.
back to top
Jumbo Loans
Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.
back to top
Piggy Back Seconds
This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is generally used to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.
back to top
No Down Payment
0% down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).
back to top
|