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| 80/10/10 and 80/15/5 Loans |
| Reduced PMI Loans |
| FHA and VA Loans |
| Conforming Loans |
| Jumbo Loans |
| Rural Home Loans |
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80/10/10 and 80/15/5 Loans
These programs allow for down payments of 5-10% without having to pay for PMI. This combines an 80% 1st mortgage with a 2nd mortgage of 10-15% of the sales price so you avoid PMI. And for high networth individuals, the rates on the 2nd mortgage can be as low as the prime rate. This method has better tax breaks and much lower payments than other lenders' Jumbo loans or those with PMI.
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Reduced PMI Loans
We have lower PMI rates on many loan than most lenders which can save our borrower money every month.
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FHA and VA Loans
Fixed and adjustable VA loans allow no down payment up to $417,000. VA has the best zero down payment loan. FHA fixed and adjustable rate loans up to $200,160 with as little as 3% down payment. FHA, and sometimes VA, loans are more flexible on credit issues than conventional loans.
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Conforming Loans
These are fixed rate and adjustable rate loans up to $417,000 that conform to Fannie Mae or Freddie Mac guidelines. These loans offer the best rates in the country.
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Jumbo Loans
These are Fixed and Adjustable rate loans that have loan amounts above $417,000.
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Rural Home Loans
The USDA loans require no down payment and there is no PMI so if you are outside of "the big city", your savings are substantial.
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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 $417,000 with closing costs of $4,170. 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 $450,000 with closing costs of $4,500. Your actual APR may be different depending upon these factors.
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