ALL LOAN PRODUCTS

FIXED RATE MORTGAGES (FRM)

The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

ADJUSTABLE RATE MORTGAGES (ARM)

Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

FHA FRM AND ARM

FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

FHA 203(K) MORTGAGE

The Section 203(k) program is FHA's primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization, as well as to expand homeownership opportunities.

VA LOANS

VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.

USDA

The USDA guarantees certain types of mortgages. To qualify, the home must be the borrower’s principal residence and  must be located within a USDA-eligible area. The USDA website contains interactive maps with which you can pinpoint an address or take a wider view of a region.

FANNIEMAE HOMEREADY

This loan product serves home buyers who may have low-to moderate income and limited cash for a down payment, requiring as little as 3% down, and is accessible to borrowers with credit scores as low as 620.

FANNIEMAE HOMESTYLE RENOVATION MORTGAGE

The HomeStyle® Renovation mortgage provides a convenient and economical way for borrowers considering moderate home improvements to make repairs and renovations with a single-close first mortgage, rather than a second mortgage, home equity line of credit, or other, more costly methods of financing.

FREDDIEMAC HOME POSSIBLE MORTGAGE

Home Possible® mortgages offer low down payments for low- to moderate-income homebuyers or buyers in high-cost or underserved communities.

JUMBO

A jumbo loan is one way to buy a high-priced or luxury home. If you have a lower debt-to-income ratio and a higher credit score, a jumbo loan may be right for you. The limit on conforming loans is $453,100 in most areas of the country, but jumbo mortgages can exceed these limits.

Manufactured home loans

Manufactured homes (previously referred to as mobile homes or trailers) are factory-built properties that are an affordable housing option for millions of Americans across the country. We offer home financing for double-wide manufactured homes built on non-removable chassis which are insured through FHA.

NON-QM

Loans that are labeled “non QM” mean that are outside of the compliance guidelines determined by the CFPB, thus requiring most lenders to manage the risks of these types of loans themselves. Doing so, however, they can provide more flexibility to borrowers who, for one reason or another, might not qualify for the other traditional loan productions.For example, self-employed or recently retired borrowers, or individuals with a short credit history or flawed credit from a past short sale or foreclosure may be eligible or those who seek a jumbo loan with a longer term.

CONTACT US

 

800.635.0977

609.737.1000

info@princetonmortgage.com

2482 Pennington Road, Suite 1

Pennington, NJ 08534

1180 Sam Rittenberg Blvd, Suite 160

Charleston, SC 29407

3495 Butler St, Suite 201

Pittsburgh, PA 15201

*The Princeton Promise is subject to applicable lending rules and regulations and is subject to change.

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