Weekly Loan Specials in Albuquerque
100% Financing with FHLMC 100 Program

This mortgage loan program allows you to finance your home with minimal funds into the transaction. Interest Rate for this 100% financing program are very competitive with conventional mortgage financing interest rates.

• Available for Conventional Fixed Rate Loans
• Loan amounts up to $359,650
• Purchase and Rate & Term Refinance
• One Unit Owner Occupied Properties
• Loan to Value 97.01% to 100%
• 3% minimum investment required from borrower funds. This may be your down payment, closing costs or taxes/insurance impounds. May also include gift from a related person.
• Two months reserves required after closing (gift funds may not be part of this)
• Mortgage Insurance required

For more information on this program, please contact us at info@LoansOnHomes.com

Interest Only Loans

This monthly payment option is available on numerous Adjustable Rate Mortgage (ARM) Programs. The programs have a fixed rate term on the interest rate. For example a 3/1 ARM is fixed for three years then the interest rate can adjust based on an index and a margin. During the fixed rate period, you have the option of making an interest only payment. This loan provides you with additional cash flow to invest. If you are considering this type of program, please consult your financial planner or CPA to determine if this is right for you. Interest Only Loans are available on Conforming and Jumbo loan programs.

For more information on this program, please contact us at info@LoansOnHomes.com

Secondary Financing

Anytime a loan has a Loan to Value (LTV) greater than 80%, the investor requires that the loan have mortgage insurance. Mortgage Insurance is not tax deductible. In order to offer clients an alternative to paying mortgage insurance when they have less than a 20% down payment, we offer numerous Secondary Mortgage Financing Options. For example if you have a 5% down payment and want to buy a $100,000. You would have a first mortgage of $80,000 and a second mortgage of $15,000 with your $5,000 down payment. The interest on a second mortgage is usually tax deductible, please consult your CPA and discuss any tax benefits based on your financial situation. There are numerous fixed rate loan options as well as adjustable rate options based on Prime.

For more information on this program, please contact us at info@LoansOnHomes.com