Loan Programs
The following is a partial list of programs, many offered by INT Home Loans, with a brief description of the key elements. Please note that these programs can change without notice. For a complete list of the programs that we offer, contact us at 317-819-5626.
|
CONVENTIONAL - Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and good credit are necessary.
Back to Top |
| |
|
|
REDUCED INCOME VERIFICATION - We do not offer this type of loan program.
Back to Top |
|
|
NO DOWN PAYMENT - 0% Down payment. The only 0% down programs we offer are the VA Home Loan and the USDA Home Loan.
Back to Top |
| |
|
|
CREDIT PROBLEMS - We do not offer this type of loan program.
Back to Top |
| |
|
|
HIGH LOAN TO VALUE – Possible 0% Down payment required and closing costs can be financed. Only single-family homes that will be owner-occupied are eligible. First time homebuyer status not required, but there are possible income limits.
Back to Top
|
| |
|
|
80/15/5 - This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.
Back to Top |
|
|
JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full documention. No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.
Back to Top
|
| |
|
|
HIGH DEBT TO INCOME RATIO LOANS - We do not offer excessive debt to income ratio loans.
Back to Top |
|
|
2ND MORTGAGE LOANS - We currently do not offer 2nd mortgage loans.
Back to Top |
| |
|
|
CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or traditional ARM products.
Back to Top |
| |
|
|
INVESTOR LOANS - Used to finance 1-4 family properties that will be for investment with as little as a 20% down payment.
Back to Top |
| |
|
|
FHA MORTGAGE - Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3.5% down payment. Seller can currently contribute up to 6% of the purchase price to the buyer towards closing costs.
Back to Top |
| |
|
|
FLEX 97% - Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 720.
Back to Top |
| |
|
|
VA MORTGAGES – Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person.
Back to Top |
9595 Whitley Drive Suite 201
Indianapolis, IN 46240
Phone: 317-819-5626
TOLL FREE Fax: 888-400-1663
|
