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Adjustable Rate Loans

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An Adjustable Rate Mortgage Loan might be something you would consider if you plan to sell your home or refinance in the first few years. The Initial interest rates are typically lower compared to other mortgages, which can help you save money. We offer adjustable rates up to $750,000 as well as jumbo adjustable rates for loans over $750,000.

Maximum Financing:

  • 97% Maximum Financing up to $454,350 and 95% Maximum Financing up to $650,000 on a 1 family & condominium for Purchase and Rate/Term Refinance
  • 90% Maximum Financing on loans $650,001 to $850,000 on a 1 family & condominium for Purchase and Rate/Term Refinance
  • 85% Maximum Financing up to $450,000 on a 1 family & condominium for Cash-Out Refinance 
  • 95% Maximum Financing up to $650,000 on a 2 family for Purchase and Rate/Term Refinance 
  • 80% Maximum Financing on a 2 family for a Cash-Out Refinance
  • 80% Maximum Financing on a 3 and 4 family for Purchase, Rate/Term Refinance or Cash-Out Refinance
  • 80% Maximum Financing on Jumbo Loans greater than $850,000 or for a Cash-Out Refinance
  • PMI required with less than 20% down-payment. Any loan that requires Private Mortgage Insurance (PMI) must meet all guidelines established by the MI company including: a) credit scores;  b) property type;  c) financial reserves
  • 60-Day Rate Lock – other Rate Lock options available
  • Appraisal Fee
    • Single Family: $400.00 
    • 2-4 Family: $575.00                     
  • Credit Report Fee
    • Joint: $62.85 
    • Individual: $31.55