Loan Programs

1% Down Conventional Loan Program 
For those who need a little down payment assistance.  You put down 1% and the lender puts down 2% for the 3% down required.  also avaialble with lender paid Mortgage insurance so no monthly mortgage insurance.

Down Payment Assistance Programs
Sapphire Grant can provide up to 5% for down payment and closing cost. To be used in conjunction with a FHA and is a grant which is forgiven.  Not for just first time hombuyers

Get the best rate possible with Elite
Get a rate .250% lower than other lenders on government loans by simply having a Credit score of 680 or higher.  Yes, get rewarded for having a higher FICO.  On a $400,000 loan you would save $55 a month. 

FHA Loans
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.

Interest Only Mortgages
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.

Components of an ARM
Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

Commonly Used Indexes for ARMs
This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.

Balloon Mortgages
Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.

Reverse Mortgages
Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

Graduated Payment Mortgages
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and becomes fixed for the remaining duration of the loan.

What kind of loan program is best for you?
Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.

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