 |
|
|
|
|
| |
| Residential Purchase Loan |
| Residential Refinance Loan |
| Residential Loan Limit |
|
| Reverse Mortgage |
| Home Equity Line of Credit (HELOC) |
| Fixed 2nd Mortgage |
| Commerical Loan |
| Free Credit Report |
| Project Financed Through UMC |
|
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
|
 |
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
|
| | |
|
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 |
|
|
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 |
|
|
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
|
|
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
|
|
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
|
|
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
|
|
Free Credit Report
Free Credit Report
|
|
Project Financed Through UMC
- Warehouse, Office, Shopping Center, Apartment, Mixed Use, Hotel, Motel, Mobile Home Park, Land, Church, and other Single Purpose Real Estate.
|
|
|
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.
|
|
|
|
|