USDA Rural
Housing 100% Purchase is designed for
the borrower seeking purchasing financing with no down
payment. Rural properties only and there are no
Mortgage Insurance requirements. Verification of
employment and income are required. There are income
limitations on this program and all properties do not
qualify. Inquire today.
FHA and VA Loans
are both government insured programs and are regulated
by HUD. The VA loan is probably one of the best
mortgage programs available to consumers/veterans today
with financing up to 100% of the home's purchase price.
There are several attractive FHA products available
today including the traditional 97% purchase, 203k
StreamLine Purchase + up to $35,000 in Rehab funds - all
in one new loan.
Treasury or Libor
ARMs are designed for all customers that
will keep the property for less then the original ARM
term
allowing for a lower monthly payment and rate versus the
traditional 30 year fixed rate. The interest rate
remains the same for initial ARM period and then converts to a 1
year ARM which the payment will adjust once a year based
on the Caps and Margins for this program. Typical Caps
can run from 1% - 6% each adjustment with a Lifetime Cap
of 4% - 6% and Typical Margins are between 2.00% - 3.00%
of the base market rate.
Traditional 30 Year Fixed
is designed for all customers that plan to keep the
property for a very long time (Ten years or more). The
interest rate remains fixed for the entire lifetime of
the loan which means that your principle and interest
payment remains the same for the entire lifetime of the
loan. Finance options up to 100% of the purchase
price are available.
Traditional 15 Year Fixed
is designed for all customers that plan to keep the
property for a very long time but plan to payoff the
loan in a shorter period of time, hence pay less in long
term interest. The interest rate remains fixed for the
entire lifetime of the loan which means that your
principle and interest payment remains the same for the
entire lifetime of the loan. Finance options
up to 100% of the purchase price are available.
Lot Loan Programs
are designed for customers that plan to purchase a
residential lot first prior to building a home. This
program can also be used for speculative purposes. The
real estate market for residential/neighborhood lot
sales has traditionally been a sellers market and
often times sellers will have many offers on the same
lot, this is a great loan for that purpose. Secure the
lot first and build later. MAX 85% financing now available
on lot purchases. 100% Financing is available for some
waterfront lots.
Construction - Perm Loan
is designed for customers that plan to build a home on a
lot they already own or purchase a lot combination loan.
Typical loan amount is the equity in lot plus the cost
of building. This is usually a one time closing at prior
to beginning of construction. Monthly payments are
interest only based only on the amount of disbursements
to the builder then converts to a Perm Loan at
completion of construction.
Jumbo and Super Jumbo Loans
are designed for all customers with loan amounts from
$417,001 to $20,000,000.00. Fixed and ARMs are available
and special attention to creative financing for LTV is
based on the customer's credit scores and liquid assets.
-------------------
ALLIED is a direct Mortgage Banker, not to
mention prides itself on having access to over 500
additional mortgage programs through 200 national
investors when needed. Our diverse portfolio of mortgage
programs includes everything from your traditional
Fannie Mae 30 Year Fixed Rate loan to the government
insured programs like FHA, VA and Reverse Mortgages.
For more information on these and other programs,
contact us today.
