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Home Loans
   
 



Find a loan to suit your situation

 • Buying your first home
 • Refinancing your home loan
 • Investing in property
 • Selling and buying a home
 • Building a new home
 •
Renovating your home
 

These loans are often made without any downpayment at all, and frequently offer lower interest rates than ordinarily available with other kinds of loans.

Before arranging for a new mortgage to finance a home purchase, you should consider some of the advantages of  home loans

1. Most important consideration, no downpayment is required in most cases.

2. Loan maximum may be up to 100 percent of the established reasonable value of the property. Due to secondary market requirements, however, loans generally may not exceed $240,000.

3. Flexibility of negotiating interest rates with the lender.

4. No monthly mortgage insurance premium to pay.

5. Limitation on buyer's closing costs.

6. Thirty year loans with a choice of repayment plans:

a. Traditional fixed payment (constant principal and interest; increases or decreases may be expected in property taxes and homeowner's insurance coverage);
b. Graduated Payment Mortgage--GPM (low initial payments which gradually rise to a level payment starting in the sixth year); and
c. In some areas, Growing Equity Mortgages-GEMs (gradually increasing payments with all of the increase applied to principal, resulting in an early payoff of the loan).

7. For most loans for new houses, construction is inspected at appropriate stages to ensure compliance with the approved plans, and a 1-year warranty is required from the builder that the house is built in conformity with the approved plans and specifications. In those cases where the builder provides an acceptable 10-year warranty plan, only a final inspection may be required.

8. Right to prepay loan without penalty.

9. performs personal loan servicing and offers financial counseling to help you avoid losing your homes during temporary financial difficulties.
 

     Home Loans & Refinancing
 


What You'll Need to Apply for Home Loans

The following is a list of the information needed to start processing your home loan. Following information are needed for the borrower and any co-borrower of home loan:

Loan Information

 • Purchase price of the house you are buying
 • Amount you would like to borrow
 • Monthly homeowner’s dues
 • Down payment amount and earnest money
Property Information
 • Type of property
 • Use of property
 • Address of the property
 • Personal Information
 • Legal name of borrower and any co-borrower's
 • Social security number(s)
 • Years in school
 • Marital status
 • Address of current primary residence (if resident for less than 2 years, provide previous address)
 • Number of dependents and birth date for each dependent
 • Employment information
 • Income Information
 • All sources and amounts of monthly income (borrower and co-borrower(s): salary, overtime, bonuses, commission, dividends, interest, retirement, and any other source of income you’d like for us to consider for repaying your loan
 • Current expenses (housing, alimony, child support and other balance(s) owed)
 • Real estate assets owned: property address, market value, outstanding liens, rental income, and mortgage payments
 • Other assets, bank and financial institution accounts: bank/institution name(s), account type(s), and balances(s); value of bonds, stocks, life insurance policies, retirement funds, and automobiles

Once the above information is gathered, you’re ready to apply for the loan.


 

   
 

 

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