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Residential Purchase Loan |
Residential Refinance Loan |
Residential Loan Limit |
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Reverse Mortgage |
Home Equity Line of Credit (HELOC) |
Fixed 2nd Mortgage |
Commerical Loan |
Free Credit Report |
Project Financed Through UMC |
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Residential Purchase Loan
- 3% down FHA loan - 5% down for conventional loan amount up to conforming limit
- No Point / No Closing Cost
- Fixed / Adjustable
- Interest Only
- Construction / Construction to Permanent Loan
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Residential Refinance Loan
- Free Consultation
- No Point / No Closing Cost
- Fixed 30, 20, 15, 10 years option
- Adjustable 1 yr, 3 yr, 5 yr, 7 yr, 10 yr, options
- Interest Only Loan for some terms
- Free Rate Lock / Float Down Option
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Residential Loan Limit
Conforming (Non-Jumbo) Loan Limits For 2023
Property Type |
New Limits
Continental U.S. |
1 Unit |
$726,200 |
2 Units |
$929,850 |
3 Units |
$1,123,900 |
4 Units |
$1,396,800 |
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Agency Jumbo Loan Limits For 2023
Property Type | New Limits Continental U.S. | 1 Unit | $1,089,300 | 2 Units | $1,394,775 | 3 Units | $1,685,850 | 4 Units | $2,095,200 |
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Reverse Mortgage
- All borrowers on title must be at least 62 of age
- Live in property as Owner Occupied
- No repayment as long as you live in your home
- Does not affect Social Security and/or Medicare benefits
- Heirs can keep the property once they paid off the reverse mortgage
- Interest applies to cash advanced only (works like a line of credit)
- You can check out the AARP website for more information http://www.aarp.org/money/revmort/
- Common misconceptions and questions Click Here
- About Reverse Mortgages Q & A Click Here
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Home Equity Line of Credit (HELOC)
- Home equity can be a great source of value for homeowners to access cash for renovations, large purchases, or alternative debt consolidation
- Adjustable interest rate based on Prime plus a margin
- Flexible withdrawals and repayments (similar to a credit card)
- Interest Only Payment option during draw period
- Only pay interest on outstanding balance
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Fixed 2nd Mortgage
- Aka Home Equity Loan
- Fixed terms ranging from 5 to 30 year. - Fund significant expenses, such as down payment on a vacation property, remodeling or debt consolidation.
- Comes as a lump sum cash with a fully amortized payment
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Commerical Loan
- Free Consultation
- Purchase / Refinance of Real Estate
- Owner User / Investment
- 10% Down SBA loan
- Custom local commercial bank loan
- Business Operating Line of Credit
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Free Credit Report
Free Credit Report
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Project Financed Through UMC
- Warehouse, Office, Shopping Center, Apartment, Mixed Use, Hotel, Motel, Mobile Home Park, Land, Church, and other Single Purpose Real Estate.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $636,150 with closing costs of $6,362. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,089,300 with closing costs of $10,893. Your actual APR may be different depending upon these factors.
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