Loan Programs

Below is a list of a few of our more popular loan programs.

Click on the program name for details.

Remember, these are guidelines to help you. You should contact our office for complete details and rates tailored to your individual needs. The best place to start is by submitting our pre-qualification form.

Please email us if you don't find the program you are looking for or have additional questions.
Check this box to view all program descriptions
  • Adjustable Rate Mortgages
    • Adjustable Rate Mortgages have payments that adjust periodically to the Index (Treasury, Libor, COFI, etc) the ARM is based on plus a specified margin.
      The Adjustment Cap is the maximum your interest rate can go up or down per adjustment period.
      The Life Cap is the maximum your interest rate can go up or down over the life of the loan.
      For more details please contact our office.
    • 1 year, 3/1, 5/1, 7/1 & 10/1 are your most common types of  ARMS available. (Example - A 3/1 ARM is fixed for 3 yrs. and then adjusts each year)
    • Available for conforming, jumbo and VA loans.
    • 1 - 4 units, owner-occupied, second homes or non-owner occupied properties.
    • Up to 97% LTVs.
    • More information about ARM loans is available in the Federal Reserve's "Consumer Handbook on Adjustable-Rate Mortgages" (the CHARM booklet). Click Here Icon - Opens in New Window
  • Combined 1st & 2nd Lien Loan Programs
    (80-10-10, 80-15-5, 80-17 & 75/22)
    • Example: 80-10-10 is an 80% 1st lien, 10% 2nd lien & 10% down payment.

      Advantages:
    • Build equity in your home quicker. The 2nd lien is normally a 15 year loan so more of your payment will go towards your principal balance sooner than with a 30 yr loan.
    • Mortgage Insurance may not be tax deductible.
    • The 2nd lien interest you pay is tax deductible so you receive a higher tax deduction by using a 1st and 2nd lien loan program.
    • Mortgage Insurance is NOT required when the 1st lien loan has a loan to value of 80% or less.
      Disadvantages:
    • Requires lower debt to income ratios(DTI) compared to a single loan with MI. Usually 50% or less is required on most 2nd liens. Some higher rate 2nd liens allow up to 55% DTI.
    • You have two monthly payments, instead of one. Both loans can be set up to have your payment auto drafted from your bank account.
    • Closing costs can be a little higher - Closing cost for the 2nd lien vary from $264 to about $350 for the 2nd lien.

      Comparisons to a 1st lien only with Mortgage Insurance(MI)
      80-15-5 (80%-1st lien, 15%-2nd lien & 5% down)
    • Monthly payments are generally lower than a 95% LTV loan with MI.
    • The interest rate on the 1st lien and 2nd lien are slightly higher.
      80-10-10 (80%-1st lien, 10%-2nd lien & 10% down)
    • Monthly payments are generally lower than a loan with MI.
    • The interest rate on the 1st lien is the same and slightly lower on the 2nd lien .
      80-17 (80%-1st lien, 17%-2nd lien & 3% down)
    • Available with our 3% down loan programs.
    • 2nd lien requires 700 minimum credit scores.
    • Maximum DTI (debt to income) ratio is 45% on most 97% CLTV 2nd lien loans.
    • Monthly payments are much lower than a 3% down loan with MI.
    • The interest rate on the 1st lien is the same as our zero down loan programs with MI.
      75-22 (75%-1st lien, 22%-2nd lien & 3% down)
    • Available with our zero down loan programs.
    • The 1st lien rate on a 75/22 loan program is lower than on an 80/17 loan program.
    • 2nd lien requires 700 minimum credit scores.
    • Maximum DTI (debt to income) ratio is 45% on most 97% CLTV 2nd lien loans.
    • Monthly payments are much lower than a 3% down loan with MI and usually lower than the 80/17..
    • Lower 1st lien interest rate, compared to the 80-17 loan program.
  • Conforming Loan Programs (webpage)
  • Construction Loans
    • Permanent Loan Only. We can provide you with your permanent loan to go with your own interim construction loan. We can also help arrange for your interim loan if you would like us to.
    • Permanent loans available for Conventional, Jumbo, Texas Vet & VA programs.
  • FHA Loans
    • We do not offer FHA loans. In most cases we now have conventional loan programs that are better for you than an FHA loan.
  • Home Improvement Loans
    • Stand alone 2nd liens available for home improvement loans up to $100,000.
    • Loan amounts from $25,000 to $100,000.
    • Loan to values up to 100% of your current appraised value are available with some restrictions.
  • Home Equity Refinance Loans (webpage)
  • Loans for Investment Properties
    • Non-Owner Occupied(NOO) Loans for 1-4 units.
    • Standard Fannie/Freddie Guidelines limit the number of properties finance to 10. We do have other programs with no limit on the number of properties financed.
    • Up to 90% LTV available. Mortgage insurance required on loans over 80% LTV.
    • 2nd lien loans are not currently available for investment properties.
    • Mortgage insurance required on loans with 80% or higher LTV.
    • Loans requiring mortgage insurance will require a maximum DTI of 41%.
    • 15 & 30 year fixed rates.
    • Rate/Term Refi's to 90% LTV(some restrictions apply) Mortgage insurance required on loans over 80% LTV.
    • Cash-out Refi's to 85% LTV. Mortgage insurance required on loans over 80% LTV.
  • Jumbo Loans (webpage)
  • Low Down Payment Loans
    • 3% down payment loans are available with the Fannie Mae Flex 97 & My Community loan programs or Freddie Mac Home Possible or Home Opportunities loan programs.
    •  Income Limits - My Community, Home Possible and Home Opportunities restrict the total family income used to qualify for the loan.
    • NO Homebuyer Study Course Required.
    • Reserves may or may not be required, depending on the loan program used.
    • 30 & 15 year terms.
    • Mortgage Insurance is required.
    • Program requires borrowers to have a minimum of 3% of their own funds in the transaction for down payment and/or closing costs & prepaid items. Acceptable Gift Funds can be used for this requirement.
    • Up to 3% seller contributions are allowed.
    • If your credit scores are 700 or higher you may be eligible for the Flex 80/17 or 75/22. This combines an 80% or 75% 1st lien with a 17% or 22% 2nd lien to eliminate the need for mortgage insurance. This will usually lower your payment significantly.
  • No Doc Loans * THIS PROGRAM IS NO LONGER AVAILABLE *
    • NOT AVAILABLE
  • No Ratio Loans * THIS PROGRAM IS NO LONGER AVAILABLE *
    • NOT AVAILABLE.
  • Other Loan Programs
    • Second Liens for 75/22, 80/17, 80/10/10 or 80/15/5 loan programs to purchase or refinance your home.
    • Condos.
    • Buy downs.
    • Commercial Loans.
  • Stated Income Loans * THIS PROGRAM IS NO LONGER AVAILABLE *
    • NOT AVAILABLE
  • Texas Vet Home Loans (webpage)
  • VA Home Loans (webpage)
  • VA Jumbo Loans (webpage)
  • Zero Down Payment Loans

Home