Mortgage 101

If you have bought property before you realize how valuable it is to work with a trained professional.

If it is your first purchase this is even more important. There are many are as many types of loans as there are lenders. For example:

Conventional
- 20% down with no PMI
- 5% down with PMI
- 80% first mortgage, 15% to 20% second mortgage without PMI

Government Loans
- FHA, expanded ratios
- VA, veterans may be qualified
- CRA, first time home buyers

Creative Funding
- Little or no documentation
- Stated income
- Stated assets

All of the above may be available with a fixed or adjustable interest rate with some or no origination points and all borrowers do not qualify for all programs.

There are many variations of these loans. Ask us to help provide more information so that you can decide which program and lender is best for you.

top of page