Loan Programs

Our company offers a variety of different loan programs to meet virtually every situation. When it comes to our business,
we offer our customers a powerful resource and we work with you every step of the way.
Below is a comprehensive list of our loan programs
ARM (Adjustable Rate Mortgage)
Jumbo Loans
Less than Perfect Credit
Refinancing
125% LTV (Loan to Value)
100% - 102% LTV (Loan to Value)
Interest Only
Home Equity Line
No-Doc Limited


ARM's

1, 3, 5, 7, 10 Year Adjustable Rate Loan Programs

An Adjustable Rate Mortgage (ARM) is a mortgage loan that is most widely known for its low starting interest rate (when
compared to the 30 & 15 year mortgage loans). This 'low' introductory rate is used to calculate the mortgage payment for
a specified period of time. Once this introductory period is over, the interest rate is adjusted periodically based on a
preselected index. The most commonly used index is the yield on the one-year Treasury Bill. The new interest rate is
determined by adding this index to a set margin (which is determined by the lender). Although there are a variety of
adjustable rate mortgage programs available, the most common program is the One Year Adjustable Mortgage (one Year
ARM). The interest rate on the one year ARM is adjusted once each Year, for 30 years. APR's on variable rate loans are
subject to increase but may decrease from year-to-year, the borrower should be prepared to handle an increase in his/her
monthly payment (should the index rate increase).

Jumbo Loan Programs

A jumbo mortgage is a mortgage loan which is larger than the limits set by Fannie Mae and Freddie Mac ($417,000 as of
10/1/2005). Since these two agencies will not purchase these types of loans, they usually carry a higher interest rate (to
enhance their value and marketability to investors)

Less than Perfect Credit

Your credit report may be full of dings, compounded with a history of foreclosure and bankruptcy, but you may still get a
loan for home purchase, refinance, or even cash out of your current home. It doesn't matter whether you have charge-offs,
collections, or tax liens on your credit report, as long as you can meet the specific guidelines for loan approval by a
multitude of lenders specialized in the credit-damaged borrower.

The lending industry uses categories to asses the credit risk of any particular borrower. If the property checks out and
you have sufficient income, impeccable credit and the required down payment you are considered an 'A' borrower. An 'A'
borrower can walk into almost any lender and get a mortgage loan. A borrower can fall short in one of these areas and
still be considered an 'A' borrower, as long as the other areas can compensate for the weakness. For example, a
borrower that exceeds the required monthly debt-to-income ratios (28% housing debt and 36% combined debt) could offer
a large down payment. Many lenders will also excuse modest credit 'blemishes' if a reasonable explanation is provided
(i.e. job transition, medical problems). Being 30-60 days late on one credit card payment is a typical blemish that could
be accepted by a lender.

But what about those that have more serious marks against their credit. Depending on how tarnished your credit history
has been, lenders will typically place borrowers into the following credit categories, which are qualified by time frames:


A-minus credit:
Acceptable blemishes within the last two years: Charge-offs, or collection accounts, of minor amounts (e.g. less than
$500 in all) are acceptable. Medical bills, including hospitalization and clinic visits, are usually disregarded by the lender.
As for payment habits, the borrower can have no more than two 30 days late payments, or one 60 days late payment on
revolving or installment credit.

B credit:
Acceptable blemishes within the last 18 months: Up to four 30 days late , or up to two 60 late days payments are
allowed on revolving and installment debt. If the credit ding is an isolated incident, a 90 days late payment is allowed
within the last 12 months. Charge-offs, or collection accounts, which are isolated, insignificant, and less than $1,000 in
all, are acceptable. However, outstanding collection accounts less than four years old must be paid. Bankruptcy or
foreclosure that had been discharged or settled previous to the 18 month time frame is allowed.

C credit:
Acceptable blemishes within the last 12 months: No more than six 30 days late payments, three 60 days late payments,
or two 90 days late payments are allowed on revolving or installment credit. Open collections accounts and charge-offs
may not exceed $4,000 and must be paid in full. Bankruptcy or foreclosure that had been discharged or settled prior to
the last 12 months is acceptable.

D credit:
A sporadic disregard for timely payment or credit standing categories the borrower in this class. Open collections
accounts, charge-offs, and judgements must be paid through loan proceeds. The borrower who had filed bankruptcy and
had been discharged prior to the last six months is acceptable, as much as the ex-homeowner who had his previous
home foreclosed and settled prior to the last six months. However, mortgage payments cannot be longer than 90 days
past due.

The above are general industry guidelines to make lending judgement on the borrower's loan application. There are no
hard-and-fast rules of separating the borrower on the border line between one credit category and another. Also, there are
compromising variations between one lender to the next depending on the degree of subjectivity involved in underwriting
and how much each lender wants to commit their funds.

Down payment requirements are being reduced
Typical lenders in the market of credit-damaged borrowers usually lend only up to 80% of the appraised value of the
home, so the borrower often has to have 20% equity or come up with a 20% down payment for a purchase. Extensive
shopping may uncover a company that will lend a greater percentage.

What about income? A-minus and B-credit borrowers are often allowed to allocate 50% of their income to pay for
combined monthly debt (compared to the standard 36% guideline used for A credit borrowers), while the bottom rung of
the credit ladder can be stretched to 60%. As for proof of income, some lenders do have "Stated Income" programs
which do not require tax returns, W-2s, or pay stubs, but may require up to 6-month bank statements to verify income
activity.

Depending on the extent of the blemishes, borrowers with less-than-perfect credit histories can expect to pay higher than
market interest rates for their home loan.
Refinancing

For many people, their home is their biggest investment and source of savings. When they need to borrow money for
major expenses, or to pay off accumulated debts, they can use their home value to borrow money.

Pay off your credit cards
If you have credit card or other consumer loans, it is often less expensive to consolidate these expensive loans with your
mortgage.

Credit card interest rates are usually much higher than mortgage interest rates. And, the interest on your mortgage is tax
deductible, while the interest on your credit card is not.

If you have enough home equity, you may be able to pay off your pricey credit card debts and save money.

Refinance vs. home equity loan
Generally, there are two ways to use your home equity to borrow money. You can either refinance with a new mortgage
that is larger than your remaining balance (a cash-out refinance) or get a home equity loan.

A cash-out refinance is generally cheaper, but a home equity loan will usually let you borrow more.


100% - 102% LTV (Loan to Value)

Looking for a 100% financing on your new home mortgage? We have lenders who can offer you this excellent type of loan
program. Some even allow up to 6% seller concessions to pay your closing costs! If you are looking for max LTV, submit
your loan application today and pre-qualify by tomorrow!


Interest Only

This type of loan program is for those who would like to significantly lower their mortgage payments by allowing you to
pay only the interest on the loan. This type of loan is great for debt consolidation up to 100% LTV.

Example of how you may benefit from an Interest Only Loan Program

...Before Refinance:
Mortgage Balance: 225,000
Rate: 7.5%
Term: 30 Year
Monthly Mortgage Payment: 1,573.23

...After Refinance:
New Loan: 225,000
New Rate: 3.75%
New Payment: 703.00
Old Payment: 1,573.23
Monthly Payment Savings: 870.23
Yearly Savings: 10,442.76
3-Year Savings: 31,328.28
5-Year Savings: 52,213.80

* Payments based on 30 Year Amortization, 80% ltv, 1st lien position, 3.75% rate, 3.85% APR.

APR may vary depending on term and amount.
Rates are subject to change.
Loan application subject to credit and underwriting guide lines
Home Equity Line (HELOC)

This type of program is very popular for those looking to do home improvements and who are not interested in tapping into
all of their home's equity at one time. With this type of program you can draw on your equity at your leisure making this
an excellent loan program that you control. A "HELOC" is usually setup on an interest only payment and is fixed to either
the LIBOR or Prime index and can be used for at least 10 years before principal payments are required.

Example of How and Interest Only HELOC Payment is Calculated:

Rate + Index x Remaining HELOC Balance/divided by 12 Months = Mo. Payment

4.25 + 1.00 x 35,000 /12 Mo. = $125.00

* Payments based on 30 Year Amortization, 80% LTV, 1st lien position, 5.25% rate, 5.35% APR.

APR may vary depending on term and amount.
Rates are subject to change.
Loan application subject to credit and underwriting guidelines


Home Equity Line

A home equity line is a form of revolving credit in which your home serves as collateral. Because the home is likely to be
a consumer's largest asset, many homeowners use their credit lines only for major items such as education, home
improvements, or medical bills and not for day-to-day expenses.

With a home equity line, you will be approved for a specific amount of credit-your credit limit-meaning the maximum
amount you can borrow at any one time while you have the plan.

Many lenders set the credit limit on a home equity line by taking a percentage (say, 75 percent) of the appraised value of
the home and subtracting the balance owed on the existing mortgage. For example:

Appraisal of homeA$100,000
PercentagePx75%
Percentage of appraised valueP$75,000
Less mortgage debtL-$40,000
Potential credit lineP$35,000

In determining your actual credit line, the lender also will consider your ability to repay, by looking at your income, debts,
and other financial obligations, as well as your credit history.

Home equity plans often set a fixed time during which you can borrow money, such as 10 years. When this period is up,
the plan may allow you to renew the credit line. But in a plan that does not allow renewals, you will not be able to borrow
additional money once the time has expired. Some plans may call for payment in full of any outstanding balance. Others
may permit you to repay over a fixed time, for example 10 years.



No-Doc Limited

Our No-Doc/Limited Doc Loan programs offer self-employed business owners an easy way to qualify for a mortgage. We
have competitive No-Doc/Limited Doc programs with excellent rates and flexible terms for those who have the credit
score to qualify.