Simultaneous Second   Mortgage Products Fixed 7-Year Balloon 10-Year 15-Year 20-Year 30-Year 40-Year Biweekly Community Home Buyer's Program™ Community Living® Community Renovation™ Community Seconds® Energy Efficient Expanded Approval® Fannie 3/2® Fannie 97® Flexible 97® & 100™ HomeStyle® Construction-to-Perm HomeStyle Renovation InterestFirst™ MyCommunityMortgage™ Native American Housing Loans Pledged-Asset Rural Housing Loans Simultaneous Second ARM 1/1 3/1 5/1 7/1 10/1 Community Renovation Community Seconds Energy Efficient Expanded Approval Flexible 97 & 100 HomeStyle Construction-to-Perm HomeStyle Renovation InterestFirst MyCommunityMortgage Native American Housing Loans Pledged-Asset Simultaneous Second Uniform Hybrid 5/1 Reverse Home Equity Conversion Mortgage (HECM) Home Keeper and Home Keeper for Home Purchase Mortgage Refinancing   Get a One Stop Execution for First and Second Mortgages With the Simultaneous Second mortgage, borrowers may get a lower payment than with a high-LTV first mortgage, along with the convenience of closing both loans together. Simultaneous Seconds is originated and closed in conjunction with your first mortgage, which brings you the benefits of just one loan processing and closing. Your monthly payment will be lower than it would be with a single, larger first mortgage because there is no private mortgage insurance required. Key Features High loan-to-value ratios for both purchase and refinances are available. No borrower-paid mortgage insurance is required. There is no minimum loan amount. Second mortgage terms available include 15-year or a 30-year-due-in-15 balloon. No separate escrow deposit is required for the second mortgage. Consumer Benefits May have a lower monthly payment than with a high-loan-to-value first mortgage because there's no mortgage insurance required   Convenience of closing both loans together

 

2006 Conforming Loan Limits

Number of Units	Maximum original principal balance	Alaska, Guam, Hawaii, and U.S. Virgin Islands only
1	$417,000	$625,500
2	$533,850	$800,775
3	$645,300	$967,950
4	$801,950	$1,202,925

 

 

Correcting Your Credit

Credit Advice

Building Good Credit   Request Your Credit Report Credit Dispute Letter Credit File Segregation Credit Repair Debt Settlement

Disputing Incorrect Personal Information   Sample Credit Dispute Letter Identity Theft Protection Refinancing To Pay Off Credit Cards   If You Have Been Scammed Removing Unauthorized Inquiries How Long Does Negative Information Stay on Your Credit Report

Correcting Your Credit

FHA Loans

Bad Credit Mortgage Refinance Debt Consolidation Vs. Debt Negotiation Home Mortgage Mistakes Commonly Made Improve Your Credit Rating Signs You Need To Consolidate Debt

FHA LOAN QUALIFICATION FHA Loan Rate FHA LOAN PROGRAM FHA STREAMLINE REFINANCE FHA Mortgage Rate

Mortgage Programs

Home Equity Loans

Two Step Mortgage Rural Housing Loans   Home Equity Loan Refinancing My Community Mortgage Community Home Buyers Program

Home Equity Loan Refinancing Two Step Mortgage Simultaneous Second Mortgage Finding Home Inspectors

Mortgage Glossary10