| Fixed Rate Mortgage |
Your monthly mortgage payment remains the same for the entire
term of the loan. If interest rates increase, your mortgage payment
won't be affected. |
10, 15, 20, 30 year fixed terms available
Take advantage of near record low fixed mortgage rates
Ask about our no closing cost option |
| Adjustable Rate Loan |
Adjustable rate mortgages (ARMs) generally start with a lower
interest rate and a lower payment. However, the interest rate may
change during the life of the loan. |
10/1, 7/1, 5/1 and 3/1 ARMs available. The first
number (10 for example) is the length of the initial period, during
which the interest rate is fixed. So, the interest rate on a 10/1
ARM will be fixed for the first 10 years. |
| Jumbo Loan |
Loan amounts which are greater than conventional limits. Buy
more home with a New Penn jumbo loan. Loans up to $3 million. |
Fixed and adjustable rate terms available Our
jumbo loan programs do not include mortgage insurance premiums -
saving you even more money. |
| FHA Mortgage |
Only a 3.5% down payment required for purchases. Finance most
of the closing costs. |
An FHA loan is insured by the Federal Housing
Administration. Ideal loan program if you have a lower credit score
or limited cash available for a down payment. |
| Real Estate Investor Loan (new) |
Purchase investment properties with flexible income and
documentation options. Perfect for the serious real estate
investor. |
Borrow up to $650,000 per property. Income sources include
rental, W2 and self-employment.
|
| Foreign National Loan (New) |
Financing that makes buying a U.S. home easier for non-U.S.
citizens. |
Fixed and adjustable rates. No pre-payment
penalties. Competitive interest rates. |
| VA Mortgage |
100% financing available on purchases. No monthly insurance
premium. |
If you are serving in the military, National Guard
or Reserve, a veteran or a surviving spouse of a veteran, you may
be eligible for a Veteran Administration (VA) loan. |
| 203(k) Streamline Loan |
Useful for buying REO properties. One loan to fund the purchase
of a new home and the repairs. |
Finance up to an additional $35,000 into your
mortgage to improve or to upgrade your home. You can
quickly and easily tap into cash to pay for property repairs or
improvements. |
| USDA Mortgage |
Loans offered in rural areas as determined by the USDA. |
Home buyers are eligible for this program when
other financial products are not suitable. |
| Fannie Mae HomePath Loan |
Provides borrowers with flexible financing to purchase
foreclosed properties that are owned by Fannie Mae (little money
down and no PMI). |
No appraisal. Available on second home and
investment properties at reduced loan-to-value. Eligible properties
can be found at www.homepath.com. |
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