Home Loan Programs:
Fannie Mae and Freddie Mac Programs:
* 30, 20, 15 or 10 Year Fixed Rate Loans: Fully amortized so the home loan with a
fixed rate that will be paid off at the end of the term because you've been paying interest
and principal every month.
* 30 Year Fixed Rate Interest Only Loan: You'll pay the fixed rate interest due
every month but you won't be paying anything towards the principal until the loan resets -
usually in 10 years.
* Fannie Mae Home Path: this loan is only available on real estate owned by
Fannie Mae and Fannie Mae must designate the property as eligible for this loan. This is a
terrific home loan program because it only requires 3% down for an owner occupied
property and there is no Mortgage Insurance required.
* Adjustable Rate Mortgage - also known as an ARM: this loan usually has a
fixed rate for a short period of time and then adjusts at pre-determined intervals.
* Construction to Perm Home Loan: this loan starts out like a line of credit and
then becomes a permanent home loan and it can be a fixed rate or adjustable rate
home loan depending upon what you choose for your permanent loan.
* Home Equity Line of Credit or Home Equity Loans
* Condominium and PUD home loans
* Fannie Mae and Freddie Mac Special Refinance Programs: DU Refi Plus and LP
Open Access, both programs allow for higher than normal loan to property value ratios.
Government Loan Programs:
* FHA Home Loans: 30 and 15 Year Fixed Rate
* FHA Adjustable Rate Mortgage (ARM)
* FHA Refinance
* Reverse Mortgage (HECM) Home Equity Conversion Mortgage:
All borrowers on this loan must be at least 62 years old
* USDA Rural Home Loan: This loan program is only available in designated
areas and the loan amount can go up to 102% of the value of the property.
* VA Home Loans: Fix Rate and Adjustable
