Mortgage types

Home Mortgage Plus1,2

Nonresident Mortgage1

Conventional Fixed Period Adjustable Rate Mortgage
(ARM) or Hybrid ARM1

Conventional Fixed Rate Mortgage1

Community Home Buyers Program1, 3

May be suitable for:

Homeowners who intend to purchase or refinance their primary residence, second home or investment property and are looking for an alternate form of financing

Foreign nationals interested in purchasing or refinancing an investment property in the U.S.

  • Those who prefer a lower initial monthly payment

  • Those purchasing or refinancing an investment property and do not intend to own it for a long time, generally less than 7 years

  • Those who want to handle potential increases to the monthly payment after the fixed period ends

  • Those who plan on owning a home for a long time, generally 7 years or more

  • Those who prefer the security of payment stability

  • First time home buyers

  • Home buyers who have limited funds for a down payment

Features & benefits

  • Alternative income documentation2

  • Flexible qualification options available

  • Competitive rates with fixed and adjustable rate plan options

  • Fixed or adjustable payments

  • Flexible qualification options available

  • Competitive rates

  • Generally lower initial rate and is fixed for a certain period, typically 3 or 5 years

  • Competitive rates

  • May provide flexibility if you expect future income rise

  • Fixed and predictable payments for the life of the loan

  • Competitive rates

  • Protects homeowners from rising interest rates

  • Lower down payment

  • Flexibility to allow for higher debt servicing ratios

  • Use non-traditional payment history, such as rent or utility receipts to demonstrate good credit

  • Fixed and predictable payments for the life of the loan

  • Competitive rates

  • No lender fee4

  • Protects homeowners from rising interest rates

  • Online application not available

There are no prepayment penalties on the above mortgage plans.

  1. Restrictions and limitations may apply.
  2. If you select the “Alternative Income Documentation” Home Mortgage Plus Adjustable Rate Mortgage loan program, the interest rate on your loan will be higher than a Conventional Adjustable Rate Mortgage Loan, and the Loan to Value (LTV) requirement is stricter, for example: an LTV of 65% is required for a maximum loan amount up to $2,500,000.  For comparison purposes, please ask us to provide the terms and payments for a Conventional Adjustable Rate Mortgage loan.
  3. Subject to area median income restrictions.
  4. Subject to full documentation, appraisal, credit and other necessary verifications.  Lender fees include discount points, origination fee, appraisal fee, credit report fee, flood determination fee, tax service fee and escrow/closing fee.
Mortgage Loans Comparison