Sumner
Home Mortgage is your hometown lender. What this means
to you is that we are not tied to one financial institution
or source. We can customize a program for you which
may include $0 down . A
$0 down payment can free up your resources for numerous
expenses associated with owning a new home or property.
Sumner
Home Mortgage has a vast variety of financial options
which means you may qualify for $0 down. Call us today
to find out if you qualify!
253-863-1113
80/20
(80% 1st mortgage plus a 20% second mortgage)
No
equity in your home required
Eliminates
need for private mortgage insurance
Build equity
faster as you pay off second mortgage
Closing
costs may be covered with a slightly higher rate
Available
on 30 and 15 year fixed rate programs
Loan amounts
up to $500,000
5%
Equity programs
No
income restrictions
Flexible
underwriting guidelines
Allowed
on expanded fixed rate products up to $359,650
Basic
ARMs with Reduced Rate Option
As
little as 5 — 10% equity required on some programs
Good way
to get a reduced rate
Restricts
refinance for the first 5 years and limits early principal reductions
greater than 20% of the loan balance per year
Can sell
home at any time without penalty
Adjustment
periods each 6 months or 1 year
Maximum
Life caps of 6%
Periodic
Adjustment caps vary from 1—2%
Assumable
(credit qualification required)
Conversion
option available on some programs
Owner-occupied
home only
Some state
restrictions apply
Loan amounts
up to $2 million
Interest
Only Loans
Qualified
borrowers pay Interest only for the first 10 or 15 years of
the loan for the fixed loan programs
Qualified
borrowers pay Interest only for the first 3, 5, 7 & 10 years
of the loan for Fixed Period Adjustable Rate Mortgages
As little
as 5% down for home loans up to $400,000
Loan amounts
available up to $500,000
Reduced
Documentation option available for qualified borrowers
Restrictions
apply. Program terms are subject to change. Some products not
available in all states.
