Loan Programs
The following is a partial list of programs offered by Best Interest Mortgage with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 239-596-3977.
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Conventional
Traditional loan programs that usually require 10% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.
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Investor Loans
Used to finance 1-4 family properties that will be for investment with as little as a 20% down payment. These programs are aggressively priced. Program may not be available in some states.
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Jumbo Loans
Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.
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Second Mortgage Loans
Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation, or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.
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USDA / Rural Housing
The USDA loan program allows borrowers purchasing a primary residence to obtain 100% financing, including closings costs, providing the appraisal is high enough to support it. Financing up to 102% which includes 2% USDA funding fee, no monthly mortgage insurance, 30 year fixed rates, no down payment required.
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VA Loans
The VA Home Loan program allows veterans with qualifying income and credit to purchase a primary residence without putting any money down towards the sale price of the home, as long as that sale price does not exceed the appraised value of the home. Veterans do need money towards closing costs as well as earnest money, which the seller generally requires when a sales contract is signed. Closing costs may be paid by the seller, which can be negotiated when the sale price of the home is set.
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