80/15/5 - This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5

FHA MORTGAGE - Backed by the Department of Housing and Urban Development this mortgage offers the borrower the ability to put as little a 3% down payment and they can even finance "allowable" closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs. Combine this with a grant from a Non Profit Institution for 100% financing. No minimum credit score requirements. FHA underwriting guidelines are more liberal than those for most mortgages. Past bad credit does not automatically mean you can't get a low interest mortgage. Even bankruptcy may not interfere with an FHA home loan (if 2 years since discharge).

203K FHA MORTGAGE - Same as FHA above but with the ability to finance home improvements that are needed. One mortgage is given based on the value plus improvements up to 115% of the future value. These improvements must be over $5000 and can be for a new kitchen, new bathroom, to add a garage or to structurally improve the property. They cannot be to add a swimming pool etc...

VA MORTGAGE - Backed by the Veterans Administration and the federal government it is similar to FHA except that you have to be a qualified Veteran or military person.

JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.

ZERO DOWN PROGRAMS - A loan for 100% of the purchase price.  The borrower pays for closing costs or can have the seller contribute up to 6% towards closing costs.

STATED INCOME/ LOW DOC - Loans where your income is not requested or verified with as little as 0% down.? Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the low-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.

NO DOC - No documentation of income or assets at all. .

FLEX 97% - Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home.

BAD CREDIT LOANS -These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track. Even one day out of Bankruptcy!

2ND MORTGAGE LOANS - Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.

HIGH DEBT RATIO LOANS - Borrowers having the ratio of their monthly bills to their monthly income higher than 50% is considered a high debt ratio. Loan programs are available for these borrowers, allowing them to finance the purchase of a home or property.

LAND LOANS - This loan will finance land that will someday be used to build your dream home. Usually a 15-year term.

CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 100% of the cost of land plus the costs of construction. Use our one time close construction loan to eliminate double closing costs.

INVESTOR LOANS - Used to finance 1-4 family properties that will be for investment. Although you get your best rate with 20% down, we can do investor loans with as little as 0% down. We also have many variations such as NO DOC, LIMITED DOC and FULL DOC.

INTEREST ONLY - Allows for a lower payment. You can pay interest only or chose to put money toward your principal as it fits your budget.

TEXAS HOME EQUITY - Fixed rate loan up to 80% of appraised value allowing borrower to access equity to pay off debt, start a new business, pay college tuition, etc.

NO CLOSING COSTS - Take a slightly higher rate, and have the lender pay your closing costs. This is best used if your intention is to live in the property for a short period of time.