LOAN PRODUCTS

 

FHA LOANS

  • 3.5% Down Payment

 

CONVENTIONAL LOANS

  • 3 % Down Payment for first time buyer

  • 5 % Down Payment without mortgage Insurance

 

CALHFA 3% CHDAP 2ND

  • 0.5 % Down Payment

  • Borrower must be first time home buyer

  • A silent 3% Down payment assistand 2nd Trustee 

  • Cannot have Owned a principal Residence Property in the last 3 years

 

VA LOANS

  • 0 Down payment 

  • No mortgage insurance.

 

203K STREAMLINE.

  • 620 Minimum fico required

  • Max $ 35,000 inf repairs allowed

 

 

HUD REPAIR ESCROWS.

  • Allowed with Financing up to to the max of $ 5,000

 

STREAMLINE REFI'S

  • FHA Endorsed on or before may 31, 2009

  • 580 minimum fico required

  • Gross loan amount, including (UFMIP), can exceed the county's staturory.

 

GOOD NEIGHBOR NEXT DOOR 

  • law enforcement officers, pre-kindergarden through 12th grade teachers and firefighters/emergency medical technicians receive up to a 50% discount on properties located in a revitalization area

 

MANUFACTURED HOUSING (FHA)

  • property must be no older then june 15, 1976.

 

USDA Rural Housing Program

Know what you can truly afford:

©2016 Residential Bancorp - Corporate NMLS ID # 210853 located at 5686 Dressler Road, NW, Canton, OH 44720. All rights reserved. For all licenses, visit http://www.nmlsconsumeraccess.org/. Residential Bancorp strives for compliance with all applicable state laws and federal regulations pertaining to mortgage lending, advertising, and marketing laws. Residential Bancorp is not affiliated with any government agency. All applications are subject to underwriting guidelines and approval. Not all applicants will qualify for all loan products offered. All loan programs, terms and interest rates are subject to change and/or discontinuance without advance notice. Corporate FNMA Seller Servicer Number: 225230005, FHLMC Seller Servicer Number: #169989, FHA #7389000086, VA Lender ID: 565078-00-00. Equal Housing Lender.