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| Available Loan Products | |||||||||||
| The perfect loan is already waiting for you, and top-quality lenders are eager to compete for your business! | |||||||||||
| My Home Loan has carefully selected its participating lenders in order to offer you an extremely wide selection of home loans for virtually every situation and borrower credit level. Various lender conditions apply to all loans depending upon the size of the loan, down payment amount, loan-to-value ratio, applicant credit history and other conditions. | |||||||||||
| Fixed Rate Loans | |||||||||||
| Principal and Interest payments do not change over the term of the loan. | |||||||||||
| Loan Terms 30-year fixed rate 20-year fixed rate 15-year fixed rate |
Loan to Value up to 100% up to 100% up to 100% |
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| Adjustable Rate Mortgages (ARM) | |||||||||||
| These loans have interest rates that are fixed for an initial period and than adjust up or down periodically based on changes in a pre-agreed upon index. Generally, ARMs have lower initial monthly payments and are popular choices for first-time-buyers and anyone who might plan on selling within a shorter time period. | |||||||||||
| Loan Terms 10/1 year ARM 7/1 year ARM 5/1 year ARM 3/1 year ARM 1/1 year ARM 6 month ARM 1 month ARM |
Loan to Value up to 100% up to 100% up to 100% up to 100% up to 100% up to 100% up to 100% |
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| Payment Option ARM | |||||||||||
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Payment Option ARMs are one the fastest growing new loan
programs available. These loans allow a homeowner to choose which payment to
make each month depending on the homeowner's preference. These loans have
some of the lowest rates of any mortgage, typically from 1.0% to 1.95%. For example: A) The Partial Interest Only payment B) The full Interest Only payment. C) The fully amortized 30-Year Principal & Interest payment. D) The fully amortized 15-Year Principal & Interest payment. These loans are great for managing your monthly cash flow and using the saved cash to reduce consumer debt. These loans have also helped many home buyers into bigger and better homes than they could have otherwise afforded. |
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| Loan Terms 12 MAT (Monthly Average Treasuries) COSI (Cost of Savings Index) |
Loan to Value up to 100% up to 100% |
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| FHA Loans | |||||||||||
| FHA loans are insured by the Federal Housing Authority which is part of the U.S. Department of Housing and Urban Development (HUD). FHA loans have lower down-payment requirements and are easier to qualify for than conventional loans. Loans have max limits by area. | |||||||||||
| Loan Terms 30-year fixed rate 15-year fixed rate 1/1 year ARM |
Loan to Value up to 97% up to 97% up to 97% |
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| Stated Income Loans | |||||||||||
| These loans do not require traditional verification of employment income such as pay stubs, W-2s, etc. However, you must "State" your source and amount of income and document it with bank statements, etc. These loans are suited to self-employed or heavily commissioned individuals. | |||||||||||
| Loan Terms 30-year fixed rate 1st mortgage 25-year fixed rate 2nd mortgage 100% 1st & 2nd purchase mortgage |
Loan to Value up to 100% up to 100% up to 100% |
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| True No-Documentation Loan | |||||||||||
| These loans do not require you to provide any information about your employment, income or any of your assets. Approval is based solely on your credit history. For individuals with un-documentable income and/or assets. | |||||||||||
| Loan Terms 30-year fixed rate 15-year fixed rate |
Loan to Value up to 90% up to 90% |
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| Balloon Loans | |||||||||||
| A Balloon mortgage has uniform monthly payments up to a predetermined date, at that time, a lump sum or "Balloon" payment would be due to pay off the loan. Balloon mortgages can have lower monthly payments than either fixed or standard ARM loans. | |||||||||||
| Loan Terms 15-year fixed rate balloon 7-year fixed rate balloon 5-year fixed rate balloon |
Loan to Value up to 100% up to 100% up to 100% |
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| Subprime Loans (A- to D- credit) | |||||||||||
| Subprime loans are for borrowers with "less-than-perfect" credit. A wide variety of credit problems can be accommodated--from late payments to Bankruptcy and Foreclosure. Terms and rates are very competitive with conventional "A credit" loans. | |||||||||||
| Loan Terms 30-year fixed rate 15-year fixed rate 5/1 year ARM 3/1 year ARM 2/1 year ARM |
Loan to Value up to 100% up to 100% up to 100% up to 100% up to 100% |
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| Home Equity Loans ("seconds") | |||||||||||
| A home equity loan allows you to borrow money in a lump sum against the equity that's built up in your home. Home equity loans can be used for debt consolidation, to make large purchases or for home improvements. They can also be used soon after a home purchase to return your down payment in the form of available cash. | |||||||||||
| Loan Terms 30-year fixed rate 2nd mortgage 25-year fixed rate 2nd mortgage 20-year fixed rate 2nd mortgage 15-year fixed rate 2nd mortgage |
Loan to Value up to 100% up to 125% up to 125% up to 125% |
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| Home Equity Line of Credit ("HELOC") | |||||||||||
| A HELOC is a credit line that is secured to the available equity in your home. A HELOC can be used for home improvements, debt consolidation or any reason you choose. Because a HELOC is not a lump sum, you only pay monthly on the portion that you have actually used. | |||||||||||
| Loan Terms 1-month ARM, Interest Only |
Loan to Value up to 100% |
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| Loans Your Bank Won't Touch | ...................................................... | ||||||||||
| "C"
and "D" Credit Loans When other lenders turn you down because of credit, income, property or title issues, it's time to apply here. We'll leave no stone unturned to find a loan that'll work for you. Partial-Interest Loans When the other one, two or three co-owners of a property don't want to co-sign, you can still get your loan. Call us if you own a half, third or even just a fourth interest in a house, vacant land or commercial property, we'll help you get the loan you need. Heir Loans Believe it or not...if you are inheriting property and don't yet have the recorded title to the property, you can still close your loan. Call us and our experts will come through for you. Non-Natural Person Loans When the owner of a house, land or commercial property is a "thing" instead of a person, give us a call. Whether your "thing" is a corporation, trust, non-profit organization, church, partnership, estate, administrator, executor or anything else, we can find you a loan. Mixed Collateral Loans When you're just a little short on equity in your property, we can arrange for you to use other collateral, like a paid off car, as collateral to close your loan! Try that at your local bank! Bankruptcy and Foreclosure Loans If you're facing a bankruptcy or going into foreclosure, you need to act fast! If there is enough equity in your property, we can help you keep your home and avoid financial catastrophe. If this sounds like YOU, don't wait a second more, call us today! |
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©2008 My
Home Loan |
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