Loan Programs

There are many loan programs to fit almost any need. Please call and ask which loan program best fits your situation.

Use the information below to choose the best program for your needs.

Jumbo Loans

5 and 7 year fixed products available for Jumbo Loans. Must qualify with income but assets are

not required. Rates start as low as 4.5%. Loan is a 30 year loan. After fixed period loan turns

into a 1 year adjustable for remainder of the 30 year term.

DU Refi Plus

Fixed Rate for 30 years and allows for 105% Loan to Value without Mortgage Insurance. Mortgage

Insurance is waived for refinance of loans that do not currently have Mortgage Insurance. This Loan

will allow borrowers to obtain a lower rate with the current market of lower home values.

Rural 102% Financing 30 year Fixed

Fixed Rate for 30 years and allows for 102% financing based on the appraised value or sales price

whichever is greater. Purchases only and buyer cannot own any other real property at the time of

closing.

5 and 7 Year Balloons: Lower start rate. Some of the balloon programs may be converted to an adjustable rate or a fixed rate after the 5 or 7 years, with very low fee and attractive rate.
Adjustable Rate Mortgage (ARM) 3, 5, 7 or 10 year fixed rate: Lowest start rate Adjusts either every 6 months or every 12 months depending on program and grade.
15, 30 or 40 Year Fixed Rate: Payment and Rate stay the same over the entire life of the loan

Here are a few things to keep in mind when selecting a loan program.

5 and 7 Year Balloons
Advantages:		Disadvantages:
Lowest starting interest rates help qualify for higher loan amounts. If you plan to sell within 2-3 years. If you expect your income to increase		Periodic payment and rate increases, builds equity Slower payment increases may affect budget.

Adjustable Rate Mortgage (ARM)
Advantages:		Disadvantages:
Lower starting rate than 30 year fixed great for refinancing from a higher rate use when you plan a move in 3-10 years. Some are convertible to 30-yr fixed or a treasury ARM, low fees, good rates.		Loan Balance Due can Change Long Term Financial Planning If You Plan to Live There Over 3-10 Years.

15, 30 or 40 Year Fixed Rate
Advantages:		Disadvantages:
Maximum Interest Deduction for Taxes. Higher Loan to Value allowed.		Anything over 80% will require Mortgage Insurance Also usually a higher Interest Rate and higher Payment.