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MortgageLink, through it's affiliation with numerous lenders, offers a wide variety of mortgage programs with competitive rates which we are able to tailor to your individual needs. |
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If
your plans are to stay in your home a fixed interest rate program is the
right choice for you. This group of home mortgages offers three
popular features: a fixed interest rate, fixed monthly payment and
scheduled "amortization." This means that the loan will be
fully paid off by the end of the mortgage term.
Click here to make preliminary application |
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If
you plan to sell your home within the next few years, you may want to
consider an adjustable rate or balloon mortgage. Adjustable rate
mortgages have interest rates which adjust upwards or downwards periodically per the original rate. These programs have interest rate caps at each
adjustment period as well as a lifetime cap.
Click here to make preliminary application |
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These programs are offered as either fixed rate
with fixed terms or a home equity line of credit (HELOC), which allows you to access money as you need it for home improvement, debt consolidation, or any other reason. The first
mortgage on the property is not disturbed. Click here to make preliminary application |
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Jumbo Mortgages Loan amounts over $417,000.00 are considered Jumbo mortgages. These
mortgages are offered with either fixed or adjustable rates. |
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Investor Loans Non-owner occupied 1 to 4 family properties can be purchased or refinanced to 90% of the purchase price or value of the property. These loans can be processed with full, limited or no documentation. Click here to make preliminary application |
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For construction mortgages, the property must be an owner-occupied, 1 or 2-family dwelling or a single family second home. Our lenders offer either fixed or adjustable rate programs. Construction must be completed within 12 months. Our lenders also offer "one-time close" mortgages that convert automatically to a fixed rate, permanent mortgage. Land advances are available plus 100% of construction cost with a total LTV of 90%.
Click here to make preliminary application |
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Land Loans The
land must be a qualified, buildable residential lot with approved
septic design, if applicable. Various terms and payment options are available. A minimum down payment of 25% is required.
Click here to make preliminary application |
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Zero Down Payment
Single family, owner occupied homes can be financed at 100% of the purchase price, with 0% down, and closing costs included. This program is also available to first time home buyers. There is no maximum income limitation. This program can be altered by the borrowers paying the closing costs or the seller contributing up to 6% towards the closing costs. Click here to make preliminary application |
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No
income verification (NIV) and no income no asset verification (NINA)
programs are available. As the program names state, neither income nor bank accounts or other assets are verified (they are stated on the application). These programs are ideal for the self employed borrower.
Click
here to make preliminary application
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Expanded Ratios These programs are for borrowers with debt-to-income ratios that exceed
the Fannie Mae or Freddie Mac guidelines. Our automated underwriting
software has obtained approvals for borrowers with ratios above 55%.
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Damaged Credit
Credit grades of A- through D are considered damaged
credit. Programs are available with either fixed or adjustable
rates. These mortgages are typically granted with a 2 year fixed rate. During which time the
borrower mends their credit problems and then refinances into a
conventional program. Click
here to make preliminary application
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