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Conventional Loans
 Fixed rate mortgage loans- Low down payment
WHEDA Loans
- Low down payment
- First time homeowner or three years since ownership
- Low fixed
rate
- Income limits apply
- Purchase amount limitations apply
WHEDA Home Improvement Loans
- Long term financing
- $1,000 to $17,500 loan amounts available
- Income limits apply
- Low closing costs
Guaranteed Rural Housing Loans
- Available to low to moderate income
borrowers
- No down payment
- Maximum mortgage amounts based upon location
- No mortgage insurance
Adjustable Rate Mortgage- -ARM
- Interest rate and payments can change
annually
- Annual cap of 2%-rate on the ARM can not change more than
2% at any one time
- The rate can never be higher than 6% over the
initial rate.
- Index (CMT- Constant Maturity Treasury) is used to
set loan rates
- Loans available with specific terms
Construction Loans
- Fast loan approval
- Convenient terms
- Low closing costs
- Insured loan draw
State VA and Federal VA Mortgages
- Eligible veterans can obtain financing
for the purchase of a home
- In most cases no down payment
- Interest rate and payment amounts
are fixed for the full term of the loan
- Convenient terms
Equity Line of Credit
- Use the equity in your home to secure this revolving
line of credit. A great option for consolidating high interest credit
card debt, education
expenses, or home improvements, just to name a few. You pay interest
only on that portion of you credit limit that has been advanced to
you. This account offers the convenience of making advances simply
by writing a check, and monthly payments are deducted automatically
from your Home Equity Checking account. Interest may be tax deductible;
consult your tax advisor.
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