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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 Adjustment
Rate Mortgages (ARMs)
Loan term: 30 year or less
Maximum loan amount: $647,200
Mortgage insurance not required
TLC mortgage
Minimum down payment: 10.1%
Interest rate: 7/1 ARM
Loan term: 30 year or less
Maximum loan amount: $647,200
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 ARMs
Loan term: 10, 15 or 30 year
Loan amount: over $647,200
Construction loan
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 ARMs
Loan term: 30 year
One closing – construction to permanent
Mortgage insurance not required
Green construction program available
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
Minimum down payment: 20%
Interest rate: fixed or 5/1 & 7/1 ARMs
Loan term: 15 or 30 year
Maximum loan amount: $647,200
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.
