Builder Best® |
- 6-month interest rate lock
- Range of payment plans
- Flexibility
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- Want to protect themselves against rising interest rates while their homes are under construction
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Fixed Rate Mortgage |
- Predictable payments
- Protection from rising interest rates
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- Prefer regular payments with no surprises
- Are on limited or fixed incomes
- Plan to stay in their homes a long time
- Purchase or refinance at a time when interest rates are comparatively low
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Interest Only |
- Reduced monthly payments
- Financial diversity
- Greater tax deductions during the interest only period , consult your tax advisor
- Flexibility
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- Are very focused on money management
- Want to reduce their monthly mortgage payment
- Do not intend to be in their homes for more than a few years
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Intermediate ARMs |
- Low introductory rate
- Low down payment
- Predictable monthly payments initially
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- Plan to stay in their homes for a limited time
- Require lower initial payments
- Feel confident their future incomes will rise enough to handle potentially higher monthly payments
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Jumbo Mortgage |
- Large loan amounts
- Low down payments
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- Want to finance larger and/or more expensive properties
- Can handle larger monthly payments
- Are investment-minded and want to leverage their assets more effectively
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| Blended Jumbo Loan |
- Fixed-rate loan combined with an adjustable-rate Second mortgage
- Lower monthly payments
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- Buyers who want a jumbo loan amount with lower monthly payments
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| Alternative Documentation Options |
- Alternate documentation options for income, debt, and credit
- Financing for Foreign Nationals
- Condotel financing
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- Need financing options for unusual property types
- Self-employed with good credit but avoid purchasing due to excessive documentation requirements
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| First-and-Second-Mortgage Combination |
- First mortgage combined with a home equity loan
- Home equity loan can supplement down payment funds to bring the loan-to-value ratio down to 80%, bypassing mortgage insurance costs
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- Homebuyers without enough cash for a large down payment
- Homebuyers who don’t want to liquidate higher-yielding investments for a down payment
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