Premier Estates
Loan Rates and Programs
*Ask us about our 107% Loans, 100% Investor Purchases, 100% Condo Conversion Loans, and 1% Option ARM Programs to 100%!
Rate buy downs are available! We have several no closing cost options!
Call for Pricing on all Specialty Loan Programs including Jumbo loans, 100%+, Stated, No Doc, Land and more!
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A Prime Mortgage
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*All rates are subject to change without notice.
*Some products may not be available in some states.
Call Today for Rate Locks and Answers to Your Questions
Toll Free: 888-862-6457
Popular Loan Programs
Links
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80/15/5 - This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5. back to top |
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| FHA MORTGAGE – Backed by the Department of
Housing and Urban Development this mortgage offers the borrower the
ability to put as little a 3% down payment and they can even finance
“allowable” closing costs. Seller can contribute up to 6% of the
purchase price to the buyer towards closing costs. back
to top |
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| 203K FHA MORTGAGE – Same as FHA above but with
the ability to finance home improvements that are needed. One mortgage
is given based on the value plus improvements up to 115% of the future
value. These improvements must be over $5000 and can be for a new
kitchen, new bathroom, to add a garage or to structurally improve the
property. They cannot be to add a swimming pool etc… back
to top |
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| VA MORTGAGE – Backed by the Veterans
Administration and the federal government it is similar to FHA except
that you have to be a qualified Veteran or military person. back
to top |
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| JUMBO LOANS - Offers 30 and 15 year fixed rate
mortgage and competitive ARM products with full document, alternate
documentation and limited documentation. Cash out and No cash out refinance are allowable. Single family detached, Condo’s, PUD’s and single-family second homes can be financed with no prepayment penalty. back to top |
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107% DOWN PROGRAMS – 0% Down payment
required and closing costs can be financed up to 107% of the purchase
price. Only single-family homes that will be owner occupied are
eligible. First time homebuyer status not required and there are no
income limits. back to top |
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| ZERO DOWN PROGRAMS – Same as above only the
borrower pays for closing costs or can have the seller contribute up to
6% towards closing costs. back to top |
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| NO DOC/STATED INCOME - Loans where your income is
not requested or verified with as little as 10% down are stated income
loans. There are several varieties of the "no-doc" loan
today. Basically the type of loan that is best suited for a particular
borrower depends on that borrower's situation. Some borrowers choose not
to disclose employment, income or asset information, while others may be
willing to disclose employment and asset information but not income.
Still others might be willing to disclose even income but select a
program that doesn't calculate debt-to-income ratios allowing those
borrowers to exceed the traditional guidelines in order to qualify for a
larger mortgage amount. With all the different variations of the no-doc
loan, there is definitely a mortgage program for today's
non-conventional borrowers. back to top
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| FLEX 97% - Similar to FHA but without maximum
mortgage amount limitations. Must be a single family, owner occupied
home and borrower must have a credit score of over 680. back
to top |
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| A- THRU D LOANS – These mortgages are for
the credit challenged. They can vary from slightly damaged credit to
severely damaged. Whatever the situation we have a mortgage that will
get you back on track. back to top |
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| 2ND MORTGAGE LOANS – Subordinate to
the first mortgage these loans offer the borrower the ability to get
money for home improvement, debt consolidation or many other reasons
without disturbing their first mortgage. Convenient when you have a low
interest first mortgage. back to top
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| 125% 2nd MORTGAGE – Same as above but
the 2nd mortgage we will lend up to 125% of the value of the
home. back to top |
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| HIGH DEBT RATIO LOANS - Borrowers having the ratio
of their monthly bills to their monthly income higher than 50% is
considered a high debt ratio. Loan programs are available for
these borrowers, allowing them to finance the purchase of a home or
property. back to top |
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| CONSTRUCTION LOANS - Building a new home can be an
exciting prospect - unless you get caught up in a construction loan
approval process that's overly complicated and time consuming. With this
loan we will finance up to 90% of the cost of land plus the costs of
construction. We offer a one time fixed rate closing or the traditional
ARM products. back to top |
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| INVESTOR LOANS – Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. PROGRAM NOT AVAILABLE IN NEW YORK. back to top |
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