See below for additional programs offered including renovation financing.
2/14/12 purchase rates with 0% points
30-yr fixed @ 3.875%
15-yr fixed @ 3.125%
5-yr ARM @ 2.875%
5-yr Interest Only @ 3%
7-yr ARM @ 3.125%
FHA 30-yr fixed @ 3.5%
FHA 5-yr ARM @ 2.75%
30-yr fixed jumbo @ 4.75%
5-yr jumbo ARM @ 3%
Purchase rates with optional 1% point
30-yr fixed @ 3.5%
15-yr fixed @ 2.875%
5-yr ARM @ 2.5%
5-yr Interest Only @ 2.625%
7-yr ARM @ 2.875%
FHA 30-yr fixed @ 3.375%
FHA 5-yr ARM @ 2.75%
30-yr fixed jumbo @ 4.375%
5-yr jumbo ARM @ 2.75%
*Assumes a 20% down payment for conventional SFH purchases
and 3.5% for FHA transactions with a 780 credit score.
97% Conventional Financing Available
No
longer do you have to rely on FHA financing for low down payment
buyers. Avoid the strict FHA appraisal requirements, upfront FHA MI
premiums and high monthly FHA PMI rates with this new conventional
program. Program is available for single family homes and Condos.
530 FICO Scores For FHA Financing Available
That’s right, we can get your not so perfect credit clients approved with this FHA program.
Did you know we do HomePath & HomePath Renovation financing? If a property your client is interested in is HomePath approved (www.homepath.com)
they can put down as little as 3% with conventional financing.
Furthermore, approved properties do not require monthly PMI (increases
buying power) nor an appraisal. HomePath also allows financing in condo
developments with high HOA delinquencies, ongoing litigation and higher
than normal investor concentration. It’s a fantastic program for
first-time buyers or seasoned investors with quick turn times* since the property is already Fannie Mae approved.
*HomePath Renovation turn times vary depending on the size of the project.
We also do HomeStyle Renovation financing. The
HomeStyle Renovation Program allows your first-time, move up or
investor clients buy a home and repair or improve it with just one loan.
You can also use it as a refinancing tool to refinance an existing
mortgage and borrow funds for improvement repairs! This is a fantastic
program if you currently work with REO properties on the selling side or
if you have buyers looking for foreclosed properties that may not be
turn key.
For additional info. contact my office or click the link: https://www.efanniemae.com/sf/mortgageproducts/pdf/hsrenofacts.pdf
Have your clients call today!
Mike Jennings
Sr. Residential and Commercial Mortgage Advisor
Nominated Mortgage Company of the Year
Capital Financial Bancorp, Inc.
1003 N Damen
Chicago, IL 60622
773-235-0111 x 115 Office
312-493-6021 Direct
773-496-8572 Fax
NMLS# 215236
www.mikeshomeloans.com