| NON-CONFORMING 15 YEAR FIXED DESCRIPTION: A conventional long-term, fixed-rate, level-payment loan that
exceeds the loan limit guidelines of FNMA and FHLMC. The loan is not assumable and no
penalty is assessed for prepayment.
REQUIREMENTS: Minimum Loan Amount: $214,601 Maximum Loan
Amount: See Below
Term: Fully amortizing over 15 or 10 year terms.
Eligible Properties: Single family one-unit residences (call for
information on 2-4 unit properties), including FNMA-approved condominiums and dwellings in
Planned Unit Developments (PUDs) and townhouse projects.
MAXIMUM LOAN-TO-VALUE AND LOAN AMOUNT:
| TRANSACTION |
OCCUPANCY |
MAX. LTV |
MAX. LOAN AMT. |
PURCHASE OR
RATE/TERM
REFINANCE |
OWNER-OCCUPIED |
90% |
$400,000 |
| 85% |
$400,000 |
| 80% |
$600,000 |
| 75% |
$700,000 |
| 70% |
$1,000,000 |
|
