Fixed & Adjustable Rate Mortgages
Choose from a variety of mortgage programs, everything from a traditional fixed rate mortgage with one monthly payment to an adjustable rate mortgage with 1-year, 3-year, 5-year, 7-year and 10-year terms.
- Conforming mortgage programs
- Mortgage loan amounts up to $417,000
- For loan amounts over $417,000, please see Jumbo Mortgages
- Fixed & variable rate loans
- Interest only mortgages available
- Primary, second & investment properties
Low Down Payment Qualifications
Many factors are considered when applying for a low down payment home loan. These factors include a good credit background, sufficient appraisal value, and adequate income to pay the monthly mortgage payment. While these factors are important other considerations are also taken.
We will be able to discuss your qualifications with you on an individual basis. At this time other factors including your ability to pay the closing costs will be discussed. We will also discuss with you certain formulas that are used to determine your long term ability to pay for the home loan.
Down Payment Gifts and Loans
Loans and gifts from family, friends, and other organizations can help you put together a down payment sufficient for your home loan needs. The percentage of the loan or gift that is available for use as a down payment can vary depending on the type of home loan you qualify for. It is important to discuss any loans or gifts you plan to use as a down payment with us.
Contact New Direction Capital for more information.