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At a Glance
Minimum Down Payment
35%
Minimum Down Payment to avoid PMI
NA
Minimum mid-credit score
Varies upon borrower
Min/ Max Loan Amount
$100,000 - $6 Million
Loan Repayment Terms
30 years
Amortization
Fixed rate or Adjustable
Prepayment Penalties
None
Escrow Account
Required, for property taxes, homeowners insurance. Flood coverage must also be included in the escrow account, but only if the home is located in a FEMA-designated mandatory flood zone.
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Current Interest Rates
Index: 1 Yr US Treasury
Margin: 2.75 Caps: 2/2/6 Floor: Start rate
KEY FEATURES
LOAN SIZE LIMITS
$100,000 - $6.5 Million
ACCEPTABLE HOME TYPES
OCCUPANCY
* Note: a property will be automatically be considered an investment property if any of the following apply:
This is not a commitment to lend. Not all borrowers will qualify for the loan programs listed. All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.