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Mortgage Loan Programs
If you need assistance, or wish to ask more detailed questions, call our Mortgage Hotline
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10% Down Investment/Rental Properties
We offer many programs to the investment buyer that wants to put the least amount down. Typically these programs differ from a conforming loan in that a slightly higher interest rate is charged. A down payment of 30% is needed to qualify for conforming rates.
100% Financing
We offer several no down payment programs such as the Rural Housing Service Loan that increases the number of loans in rural communities. We also have a 100% program for borrowers that have good credit and employment histories, but have no money down for their down payment. In some cases, the closing costs can be included in the loan amount and there is no royalmtge insurance.
2% Down
This program allows qualified borrowers with 2% of their own money to purchase a new home at the lowest possible conforming interest rates. This program is actually a 95% loan, where the additional 3% can come from a gift, grant, or unsecured loan. This is a great program for first time home buyers.
3% Down FNMA
This program was designed to assist moderate income first time home buyers. The program allows more flexibility to help borrowers qualify. The borrower is required to complete a Home Buyer Education Course that we offer at no charge and can be completed at home.
5% Down Primary or Second Home Purchase
We offer a wide variety of programs for a primary purchase and can even offer 5% financing on a second home for qualified borrowers. Loan approval comes fast and easy with the latest technology, some within an hour. Payment terms can be structured to the borrowers’ particular needs that include 30, 20, 15 and 10 year fixed rates, ARM’s, and many balloon programs.
Home Equity Lines of Credit (HELOC)
Our Company has programs for borrowers who wish to keep their first royalmtge in place and use their equity for debt consolidations, purchase other properties, or home improvements, etc.. Some programs allow up to 100% combined (1st and 2nd royalmtge loans) to appraised value. No closing cost HELOC’s are also available.
Mortgage Only
Now you can qualify for a new royalmtge based on your royalmtge payment history only - installment/revolving credit is not an issue.
NEW 97% LTV
3% down payment with no geographic or income restrictions. The down payment can be a gift, grant or can come from an employer. Debt ratio is based on your overall profile. The interest rate is a conventional conforming fixed rate.
No Equity 125-145% LTV Programs
These programs are designed for borrowers with very good credit that need cash for home improvements, debt consolidation or major purchases.
No Income Verification
Our Company offers financing to self-employed borrowers or special situation individuals who choose or cannot provide income for qualification. We will accept income that is stated up to 85% of the appraised value.
Refinancing, Rate/Term or Cash-out
Many programs are available to reduce your present royalmtge interest rate with little or no "out-of-pocket" cash. We will use up to 100% of the appraised value of your property for some programs. You can use the equity in your home for home improvements, college tuition, debt consolidation, the purchase of a boat or car or for "emergency" cash savings.
Sub-Prime Programs
Our Company offers purchase, cash-out and debt consolidation programs to borrowers that have slow credit, high ratio borrowers, or properties that do not conform to Fannie Mae guidelines. Typically these loans carry a higher interest rate and more money down.
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