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| Full Income Documentation Loans |
| Stated Income Loans |
| No-Income and No-Asset Verification Loans |
| Property Types |
| Adjustable Rate Mortgages (ARM's) |
| Fixed Rate Mortgages |
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Full Income Documentation Loans
All income that is stated on the mortgage application is verified with either W2's, tax returns or pay stubs.
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Stated Income Loans
All income is stated on the mortgage application but is not verified. These loans generally carry rates slightly higher than Full Income Verification Loans as the risk is higher for the lender.
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No-Income and No-Asset Verification Loans
Income and Assets are not stated on the mortgage application and verification is not required. These loans carry slightly higher interest rates as the risk is higher for the lender.
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Property Types
Mortgages can be arranged for properties which are occupied by the owner or tenant. Property types can include homes from 1 to 4 units, condos, townhouses, PUD's, and manufactured homes.
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Adjustable Rate Mortgages (ARM's)
This mortgage product has a rate that is fixed for a predetermined period. One month, three month, one year, two year, three year and five year terms are available. If you select a one year ARM, your interest rate will change afer the first year. It could go up or down.
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Fixed Rate Mortgages
This product carries a fixed rate for the entire term of the loan with no increases or decreases. 15 year, 20 year, 30 year, and 40 year terms are available.
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