A couple of 100% financing options are available. One allows for 100% financing for "Public" employees (law enforcement officers, firefighters, state certified teachers and healthcare workers). This is available in fixed rate 15, 20, 30 and 40 years terms along with 5/1, 7/1 and 10/1 ARM's. Minimum credit score required is 620. Another 100% financing option is for a primary home purchase. This is only offered as a fixed rate and can be salaried or self-employed with full documentation required. Minimum credit score required is 700. Both programs offer seller contributions of up to 6% of the purchase price to be used as a credit for closing costs.   

Adjustable rate mortgages (ARM's) offer a lower interest rate for a specified period, usually for 3 or 5 years, then rise to a rate pre-determined by an index and margin and are often restricted by rate caps. Financing using an ARM will therefore result in a change of the payment amount. The typical rate caps are for the period in which the rate will reset (usually annually) and over the term of the loan. The index is usually tied to LIBOR (London InterBank Offer Rate) and the margin is the number of percentage points the lender adds to the index to calculate a newly adjusted interest rate.  

Conforming long-term, fixed rate and adjustable loans that meet Fannie Mae and Freddie Mac loan limits and property and borrower guidelines:

Maximum loan amount:  $417,000              Terms:  15-20-30-40 years

These loans are for borrowers who desire lower monthly payments during the intial period of the loan term, but want the security of a fixed rate.  Also borrowers who are looking for cash flow management options or the 40 year fixed rate interest-only product for those borrowers who face affordability issues (minimized payment shock).

Terms:  10/20 Fixed Rate Interest Only (30-yr) 10-yr int. only/followed by 20yr amortized term.   15/15 Fixed Rate Interest Only (30-yr) 15-yr int. only/followed by 15-yr amortized term.  10/30 Fixed Rate Interest Only (40-yr)  10-yr int. only/followed by 30-yr amortized term.

These loans offer 70% financing up to $1,000,000. Higher loan amounts are available but at an adjusted financing amount. Foreign national loans are limited doc and usually entail no income verification. Documents required are; Original credit reference letter, verification of down payment and 24 months reserves (not needed in US funds), and a copy of a passport or visa.

Terms: 3/1 & 5/1 Adjustable Rate Mortgages 

With an interest-only mortgage loan, you pay interest-only on the principal balance every month. An interest-only mortgage will provide the lowest monthly payments for a fixed number of months without negative amortization. These loans are available for all types of financing, primary home, second home, investment property and some stated income loans and the rate can be fixed up to 30 years. Paying only the interest each month means a borrower can afford or qualify for a larger loan while paying a lower monthly payment. You can also pay down on the principle balance and the monthly payment will decrease each month.

Jumbo long-term, fixed rate and adjustable loans that meet loan limits and property and borrower guidelines.  Loan amounts exceeding $417,000.

Maximum Loan Amount:  3 million                   Term:  15-30-40 year

Allows borrowers with less-than-perfect credit the opportunity of home ownership.  These loans offer a variety of programs and terms for financing loans.  100% primary, second home and 90% investment properties financing.  Stated income for wage earner and self emloyed.  Also simple full documentation loan financing.

Maximum Loan Amount:  1.25 million       Terms:  10-15-20-30-40 years

In B-C-

Ideal for the self-employed with good credit.  These loans typically require 20-30% down payment in exchange for reduced documentaion requirements.  Available in Conforming and Jubo loan amounts.

Maximum Loan Amount:  $1.5 million         Terms:  15-30 years