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CONVENTIONAL LOAN PROGRAM GUIDE

Name CONV FIXED CONV ARM
General Description Fixed Rate
1st Time Buyer 97%
MAX 95% LTV
5, 7, 10 yr. Adjustable Plans
Max. 90% LTV
Maximum Loan
Amounts
1 unit $424,100
2 unit $553,000
3 unit $656,350
4 unit $815,650
1 unit $424,100
2 unit $553,000
3 unit $656,350
4 unit $815,650
Qualifying Ratios 31/43 Debt To Income Ratio 31/43 Debt To Income Ratio
Qualifying Rate Note Rate Fully Adjusted Rate
Loan Term 10, 15, 20 or 30 yr. 10, 15, 20 or 30 yr.
Caps
Margin
Index
NA
NA
NA
yes
2.750
T-Bill
Assumability Not Permitted Not Permitted
Buydowns 2-1-0 & 1-0 available Not Permitted
Gifts OK-Call for details OK-Call for details
Mortgage
Insurance
Required on LTV’s
over 80%
Required on LTV’s
over 80%
PROPERTY TYPE:
1 Family (attached)
1 Family (detached)
Condo
PUD
2-4 Family O/O
Manufactured Home
Investment
Second Home
yes
yes
yes-Call For Details
yes
yes
Call For Details
yes
yes
yes
yes
yes-Call For Details
yes
yes
Call For Details
yes
yes
Name CONV FIXED CONV ARM
Note: Guide subject to change at any time. Call for more details.
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