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| Fixed Rate Loans |
| Interest Only Loans |
| VA Interest Rate Reduction Refinance (IRRRL) Loan |
| JUMBO A Loans |
| NO Closing Cost Equity Lines of Credit |
| Debt Consolidation 125 Second Mortgage |
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Fixed Rate Loans
Available Products
- 30- and 15-year fixed rate loans
- 5/25 and 7/23 fixed rate ballons available
Features
- Aggressive fixed rate pricing
- Reduced appraisal requirements
- Fast Desktop Underwriting
- Stated Income available for well qualified borrowers
- Cash-out options
Term: 30 years
Maximum Amount: $333,700
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| | Loan details above are for a conforming 30-year fixed program. |
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Interest Only Loans
Interst Only Loans are available to those borrowers who are looking for:
- Lower monthly payments
- More "buying" power when purchasing a new home
- Leveraging monthly cash-flow
Rates start as low as 2.875% and terms of the Interest Only Loan vary from 1 month ARM's to Fixed Rates anywhere from 6 month, 1, 3, 5, 7 and 10 Year Fixed Rates depending on your needs. Call us today to find out which Interest Only Program best suites your needs.
Term: 10 years
Maximum Amount: $1,000,000
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VA Interest Rate Reduction Refinance (IRRRL) Loan
Otherwise known as the "VA Streamline Refinance" allows Veterans to obtain a lower interest rate, term and/or payment without the hassles of a conventional mortgage. Here are some of the benefits of the VA IRRRL:
- No Appraisal Needed.
- No Credit Check-Regardless of Credit!
- No Out of Pocket Expenses.
- Simple fast and easy closings.
Call today to get the latest rates available for the VA IRRRL.
NEW!! VA 3/1 Hybrid ARM!!
Veterans, the Department of Veterans Affairs have heard your requests! The VA is now offering 3 Year Fixed rates on the VA Loans! This is an adjustable rate mortgage that is FIXED for the first three years! This loan is ideal for Veterans who maybe transferred within 3-5 years by offering a low, introductory interest rate and minimum monthly payment. Call now for details!
Term: 30 years
Maximum Amount: $333,700
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JUMBO A Loans
Available Products
- 40-, 30-, 15-year fixed rate loans
- 6-month, 2/6, 3/6, 5/6, 7/6 and 10/6 LIBOR ARM loans
- 3/1 and 5/1 treasury ARM loans
Features
- No Doc and Stated Income docmentation available
- up to 95% LTV to $500,000 for owner occupied purchases with no cash-out refinances
- Debt Ratios up to 42%
Term: 40 years
Maximum Amount: $1,000,000
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NO Closing Cost Equity Lines of Credit
Well qualified borrowers can obtain an Equity Line of Cedit (HELOC) with rates starting as low as 4%! There are no closing cost to pay when you apply with Creative Mortgage Resources. The HELOC can be used for:
- Dream Vacations
- Education and Tuition Bills
- Home Improvements
- Tax Payments
- Debt Consolidation
The HELOC is an Interest Only Loan also. This means that you will have the lowest payment possible for the first 10 years of the loan. There are no Pre-payment Penalties to pay either.
Term: 10 years
Maximum Amount: $1,000,000
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| | An annual fee of $20 applies to ALL HELOC's. There is no minimal draw initially and you can draw up to your credit limit for 10 years. |
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Debt Consolidation 125 Second Mortgage
Debt Consolidation loans are popular ways for borrowers to consolidate consumer debt and relieve their total monthly obligations. The 125% will allow the borrower to take out a second mortgage up to 125% of the value of their home and an appraisal may not be needed. Call now to find out how much you could be saving each month!
Term: 25 years
Maximum Amount: $75,000
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| | | Lowest over equity rates
Stated Value 125%
Stated Value 100% has lower rates for scores > 679
Simultaneous Close with cash out refi
Can close (1) mo after purchase
Terms to 25 years
Condos, attached, 2-4, modular - OK
Statistical Valuations can be used in lieu of appraisal (lower cost - usually only $40.00) |
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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