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CD Rates

MORTGAGE COMPARISON CHART

With many different types of loans, we are confident that we can meet your financial needs.

The following table outlines some of our more popular programs. If you want more information or would like to hear about other options, contact us – we’re happy to answer any questions.

Owner / Investor / 2ndHome: 1-4 Units, Condo, PUD

HOME LOAN LOAN PROGRAMS
 

FHA

VA

USDA

RI Housing

Conventional

Jumbo

Min. Down Payment

3.50% 0% 0% 0% 3.00% 10.00%

Typical Down PMT

3.50% - 5.00% 0% 0% 0% 5.00% - 20.00%+ 10.00% - 30.00%

Max Loan Amount

$426,650 (2-4 Units can be higher) $424,100 $417,000 $424,100 (Max Purchase Price) $424,100 (2-4 Units can be higher) Primary - $2,000,000 2nd - $1,000,000

Mortgage Insurance

YES: 1.75% Up-Front, financed and
0.85% Annualized (paid monthly)

NO: But has Up-Front Funding Fee
financed (Usually 2.15%)

YES: 2.75% Up-Front,
Financed and .35% Annualized (paid monthly)

YES for some programs YES: if < 20% down YES: if < 20% down

Additional Requirements

Max Debt-to-Income Ratio 43%
if FICO < 620

Eligible Veteran & Residual Income

Property* & Max Income Limits 115% of median household

Must be 1st Time Buyers
if using 100% financing

N/A See Loan Oficer

Occupancy

Owner: 1-4 Units, Condo, PUD Owner: 1-4 Units, Condo, PUD Owner: Single Family, Condo, PUD Owner: 1-4 Units, Condo, PUD Owner / Investor / 2nd Home: 1-4 Units, Condo, PUD  1-2 Unit & Condo Owner and 2nd Homes

Min. FICO Score

Per AUS and 580 Per AUS and 620 Per AUS and 640 Per AUS and 580 Per AUS and 580 660

Bankruptcies

2 yrs 2 yrs 3 yrs FHA or Conv. Guidelines 4 yrs 4 yrs

Foreclosures

3 yrs 3 yrs 3 yrs FHA or Conv. Guidelines 7 yrs 7 yrs

Short Sales

3 yrs 3 yrs 3 yrs FHA or Conv. Guidelines 4 yrs 4 yrs

Special Programs

203k Rehab N/A N/A

Extra Assistance for

1st Time Buyers

HomeStyle Renovation N/A