- Private backed security (Fannie Mae or Freddie Mac)
- Up to 100% financing on specialty programs with restrictions and 95% for all other qualified borrowers*
- Down payment can be gifted with certain caveats.
- Seller can pay 3% in buyers closing costs and pre-paid items on 95% LTV loan, 6% on an 90% LTV (Loan-to-Value) or less loan and 2% on all Investment Property Transactions.*
- PMI (Private Mortgage Insurance) can be dropped after borrower reaches 80% loan to appraised value or 78% of the original purchase price.*
- No geographic or income restrictions
- Blended Credit Scores 620 or above
- Rates and PMI are dramatically affected by scores and risk.
- Debt ratios 45-50% (depending on program) or less are usually maximum (some exceptions)
- Primary/Secondary/Investment single family or multi-family that are move in ready condition (can be used with Homestyle if renovations are needed). Manufactured Homes allowed Doublewides and Larger.
- Can be combined with CAFA (Capital Area Finance Authority in Louisiana) Down Payment Assistance Program
- $806,500 Maximum Loan for Single Family Homes, Higher loan amounts available in Jumbo Conventional Loans (which we do as well)
- Renovation financing available utilizing the Homestyle Loan for owner occupied residents as well as investors.
- New Construction Options
*30-year Conventional Fixed-Rate Loan: An interest rate of 3% (3.299% APR) on a $200,000 mortgage, you would make monthly payments of $675.00. The actual payment amount will be greater. Monthly payment does not include private mortgage insurance, taxes, and insurance premium. Payment assumes a loan-to-value (LTV) of 80%.
