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No Nonsense Mortgage
Primary residence, second home or
investment properties
Minimum down payment: 10.1% to 20%, 25% for investment properties
Interest rate: fixed or 5/1, 7/1 & 10/1 Adjustable Rate Mortgage (ARM)
Loan term: 30 year or less
Mortgage insurance not required
Renovation & Purchase mortgage
Minimum down payment: 10.1%
Interest rate: 7/1 ARM
Loan term: 30 year or less
Up to $100,000 cash out for renovations
Mortgage insurance not required
Jumbo mortgage
Primary residence or year-round second home
Down payment options vary based on occupancy and maximum loan amount.
Interest rate: fixed or 5/1, 7/1, and 10/1 Adjustable Rate Mortgage (ARM)
Loan term: 10, 15 or 30-year
Loan amount: exceeds conventional loan limits
Construction loan
Primary residence or second home
Conventional or jumbo loan financing
Down payment options vary based on occupancy and maximum loan amount
Interest rate: fixed or 5/1 & 7/1 Adjustable Rate Mortgage (ARM)
Loan term: 30-year
One closing – construction to permanent
Mortgage insurance not required
Land loan
Minimum down payment: 35% for unimproved land, 25% for improved land
Interest rate: fixed
Loan term: 5-year balloon with a 15-year amortization
Seasonal second home (3-season home)
Minimum down payment: 20%
Interest rate: fixed or 5/1 & 7/1 ARMs
Loan term: 15 or 30-year
Seasonal camp
Minimum down payment: 25%
Interest rate: 1/1 ARM
Loan term: 20-year maximum
Mobile home primary residence
Minimum down payment: 20%
Interest rate: 5/1 ARM
Loan term: 20-year for owned land, 10-year for rented land
Remaining economic life of mobile home must exceed loan term by 5 years
*Loan programs and terms are subject to change.
