Veltri Exclusive Features... |
|
 |
|
|
|
©2004
Veltri Real Estate Associates, LP
Equal Opportunity Employer
All commissions in NJ are negotiable |
|
| FINANCING |
Financing your new purchase can be an arguous task on a good day! Let Veltri & Associates, Realtors introduce you to one of our approved lenders. These lenders are specifically chosen as leaders in their field and for the flexibility of products that can help even credit challenged buyers.
Below are some loan programs and features of each. Familiarize yourself with these products so you can make an educated decision on what loan is best for your individual needs.
|
Fixed Rate Loans
|
| For a list of features on any of these loans, just click the name of the loan program. |
 |
| Loan Program |
Reason to Choose It |
Key Feature |
|
|
|
|
|
|
|
|
|
|
| You want the stability of a fixed principal/interest payment over the life of the loan. |
|
|
| Down payments as low as 5%. |
|
|
|
|
|
|
|
|
| You want to put down just 5%. |
|
|
| Loan amounts up to $417,000. |
|
|
|
|
|
|
|
|
| You are building or significantly renovating a home and want to avoid the extra cost of two closings (construction loan and permanent loan). |
|
|
| One application, one qualification process, one closing, and one set of closing costs. Interest-only payments during construction, the choice of adjustable rate or fixed mortgage products and the option of permanent loan rate protection available for up to 18 months.** |
|
|
|
|
|
 |
Adjustable Rate Mortgages
|
| For a list of features on any of these loans, just click the name of the loan program. |
|
| Loan Program |
Reason to Choose It |
Key Feature |
|
|
|
|
|
|
|
|
|
|
| You want to start with a low payment or want to buy more home. |
|
|
| As little as 5% down; rate adjustments each 6 months or 1 year. |
|
|
|
|
|
|
|
|
| You want to start with an extra low rate. |
|
|
| Reduced rate in exchange for limits on refinancing and early principal reduction for first 3 years. |
|
|
|
|
|
|
|
|
| You plan to move or refinance again in a few years and want the security of a fixed rate for that period of time. |
|
|
| Fixed rate for 3, 5, 7 or 10 years, then adjusts annually based on a financial index. |
|
|
|
|
|
|
|
|
| You want to start with an extra low rate, plus have the security of a fixed rate for a set number of years. |
|
|
| Reduced rate in exchange for limits on refinancing and early principal reduction for first 5 years. |
|
|
|
|
|
|
|
|
| You are building or significantly renovating a home and want to avoid the extra cost of two closings (construction loan and permanent loan). |
|
|
| One application, one qualification process, one closing, and one set of closing costs. Interest-only payments during construction, the choice of adjustable rate or fixed mortgage products and the option of permanent loan rate protection available for up to 18 months.** |
|
|
|
|
|
|
Loans Exceeding Fannie Mae/
Freddie Mac Guidelines
|
| For a list of features on any of these loans, just click the name of the loan program. |
|
| Loan Program |
Reason to Choose It |
Key Feature |
|
|
|
|
|
|
|
|
|
|
| You need to borrow more than $417,000 * |
|
|
Loans up to $6 million. Wide variety of program options:
- Reduced Documentation Loans
- No Ratio Test Loans
- No Income/No Asset Loans
- Second Homes
- Investment Properties
- Condominiums
|
|
|
|
|
|
|
Loans Designed for People with Various Financial Obstacles
|
| For a list of features on any of these loans, just click the name of the loan program. |
|
| Loan Program |
Reason to Choose It |
Key Feature |
|
|
|
|
|
|
|
|
|
|
| You may not have enough cash for a down payment, lack a traditional credit history or have uncommon sources of income. |
|
|
| Can use cash gifts from family, other sources of income, and alternative payment records like rent and bill payments to establish credit. |
|
|
|
|
|
|
Loans for People with
Less Than Perfect Credit
|
| For a list of features on any of these loans, just click the name of the loan program. |
|
| Loan Program |
Reason to Choose It |
Key Feature |
|
|
|
|
|
|
|
|
|
|
| For borrowers who want the stability of a fixed principal/interest payment over the life of the loan |
|
|
| Fixed rate and payments for over the life of the loan. Borrowers can choose from 10,15,20,25,30,35 or 40 year term. |
|
|
|
|
|
|
|
|
| Helps borrowers stabilize their situation to get "back on track" while enjoying a lower interest rate loan for a fixed period of time |
|
|
| Fixed rate for 3 or 5 years, then adjusts annually based on a financial index. |
|
|
|
|
|
* Restrictions apply. Program guidelines are subject to change Some products not available in all states.
** Interest rate is based on the one year Libor rate plus a margin the day your loan is locked. After that the rate is subject to annual adjustments with a limit of 2% and a lifetime adjustment limit of 6%. Underlying Promissory Note and Deed of Trust signed at closing are for a 1 year LIBOR ARM. ARM rates subject to increase during loan term. At conversion, the customer can choose to use the 1 year LIBOR ARM or select another available loan for which they originally qualified. Construction phase is 6, 9, 12 or 18 months and affects pricing. Ask for details. |
|
|
