Loan Programs

Our Loan Programs

Which loan is right for me?

Years you plan to stay in the house	Recommended program
1 to 3 years	3/1 ARM or 1 year ARM
3 to 5 years	5/1 ARM
5 to 7 years	7/1 ARM
7 years and up	30 Year Fixed or 15 Year Fixed

Today's Rates

Loan Programs	Advantages	Disadvantages

*Conventional Mortgages* 15 Year Fixed Conventional Customer Choice 30 Year Fixed conventional Customer Choice Today's Rates	MFC Customer Choice Rates are below market rates with no origination or discount points Monthly payments are fixed over the life of the loan Interest rate doesn't change Protected if rates go up Can refinance if rates go down	Rate doesn't drop if interest rates improve Qualification criteria is more strict than Government loans Borrower must pay downpayment and closing costs

*Government Mortgages* 15 Year Fixed FHA Customer Choice 15 Year Fixed VA Customer Choice 30 Year Fixed FHA Customer Choice 30 Year Fixed VA Customer Choice Today's Rates	Below Market Interest Rates Easier to qualify for than Conventional Loans VA loans available with no downpayment	Borrower must pay downpayment and closing costs

*Down Payment Assistance Programs* 15 and 30 Year FHA Down Payment Assistance Programs Today's Rates	No down payment Uses Government loan qualification criteria	Borrower must pay closing costs May be subject to income and property value limitations

*Adjustable Rate Mortgages* 1 Year ARM 3/1 ARM 5/1 ARM 7/1 ARM	Lower initial monthly payment May qualify for higher loan amounts ARMs available with interest only options	More risk Payments may change over time Potential for high payments if rates go up

*Stated Income/No Doc Programs*	Don’t need to verify income Faster approval No Asset/Job Verification	Higher rates Higher down payment

*No Cash Out of Pocket* 30 Year and 15 Year No Cash out of Pocket Today's Rates	No Downpayment No Closing Costs Zero Cash Required Utilizes FHA Loan Qualification Criteria	Slightly Higher than market interest rate

*Imperfect Credit Programs*	Potential for reestablishing credit if you pay your mortgage on time.	Higher rates Terms may not be as favorable Harder to get long term fixed loans Loans may have prepayment penalties

Besides our standard loan programs, we also have a large number of unique programs to serve your needs:

Purchase a house with No Cash Out of Pocket-Downpayment and Closing Costs are paid by us!
Piggyback loans 80-10-10 or 80-15-5. No PMI payments even with 5% or 10% down.
Investor and Second Home products available
Qualify even if you may have been turned down before!

2605 Maitland Center Pkwy, Ste.G • Maitland, FL 32751

Toll Free: 800-892-0142
Phone: 407-667-0999
Fax: 407-667-9446

mfcwebinquiry@maronda.com