Program Guidelines & Rate Estimates

 

Full Income Doc Rate Sheet (Stated Programs Available****)

Program

Mortgage Rate*

Max.
LTV***

Max. Term

Points **

Origination Fee

*****

Credit

Minimum
Loan Amount

Maximum
Loan Amount

30 yr. Fixed Programs

 

Min. Credit Score

   

A

10.375%

90%

30

0

2 - 3%

680

$100,000

$1,500,000

A-

10.75%

85%

30

0

2 - 3%

640

$100,000

$1,500,000

B

11.875%

80%

30

0

2 - 3%

580

$100,000

$1,500,000

2 yr. ARM Programs

 

Min. Credit Score

   

A

9.125%

90%

30

0

2 - 3%

680

$100,000

$1,500,000

A-

9.50%

85%

30

0

2 - 3%

640

$100,000

$1,500,000

B

10.625%

80%

30

0

2 - 3%

580

$100,000

$1,500,000

* Rates and programs shown are estimates only and are subject to change without prior notice, call for a direct quote.  Rates vary based on property type and borrower credit profile, see individual program descriptions for details.  Add an additional .50% to rate/margin on all Non-Owner Occupied properties.

** Rates can be bought down.   1 point fee = .375% rate decrease (.75% max rate buy down)

*** Refer to program guidelines for Max. LTV by property type.

**** Stated Programs will increase rate/margin between 1% to 2% and decrease LTV 5% to 10%

***** Minimum Broker Fee $3,500

All ARM Loans adjust quarterly, on the 10th day of the first month of each calendar quarter, based on Prime Rate in effect on the first day of that month, for the payment due on the 10th of the following month.