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GMFS Mortgage Home Loans

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GMFS Residential Home Loan
Mortgage Products
Reason for Home Loan Refinance
First Time
Home Buyer
Purchase Second
Home
Investment Construction
or
Renovation
Type of
Refinance
Type of
Occupancy
Conventional
Conforming Fixed Rate - loan with balance under $424,100 Ideal terms Eligible Eligible after
construction
is complete
Rate Term
or Cashout
Primary,
Second Home
or Investment
HomeReady - Designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. Low down payment and flexible options for sources of down payment or closing cost  Eligible for 30 year Fixed Rate Product N/A Rate Term Primary
Adjustable Rate Mortgage (ARM)
Loans
- offer the lowest interest rate available for 5/1 or 7/1.
Typically not
ideal for
first home
Ideal for the financially savvy borrower Eligible after
construction
is complete
Rate Term
or Cashout
Primary,
Second Home
or Investment
High Balance Conventional Loans - in certain areas where home prices are above national avg. , GMFS offers mortgages > $424,100 with same ease as traditional financing Eligible N/A Rate Term
or Cashout,
Cashout
only on
Primary
Primary,
Second Home
or Investment
New Construction or Renovation
Loan
– Single close on a permanent mortgage before work is complete saves money and time
N/A Eligible N/A One close
before the
work is
complete
Remodel
or add on
to your
existing
property
Primary
Residence
Government
FHA Loan - Our most flexible mortgage product Good first
home
option if not
Veteran or
rural area
Eligible N/A Rate Term
or Cashout
Primary
Residence
VA Loan - Military Veterans can purchase or refinance with zero money down. GMFS waives Origination Fees for VA loans.  Good first
home
option for
Veteran’s
Eligible N/A Cashout Primary
Residence
FHA Streamline or VA IRRRL - Refinance - Refi FHA or VA with ease and no appraisal required N/A Rate Term
with no
appraisal
needed
Primary
Residence
FHA or VA High Balance Loan – in high cost areas offers government loan benefits with higher amounts Eligible N/A Rate Term
or Cashout
Primary
Residence
USDA (Rural Development) Loan - less money down required for borrowers in eligible rural areas Good first
home
option if in
rural area
Eligible N/A Rate Term Primary
Residence
Jumbo
GMFS Jumbo Loan - for amounts >$424,100 we offer a higher Loan To Value (LTV) limit and lower FICO requirement than many Jumbos Good first
home
option for
Veteran’s
Options for
no
Mortgage
Insurance
Eligible N/A Rate Term
or Cashout
Primary,
Second Home
or Investment
Reverse Mortgage (HECM)
Reverse Mortgage is a unique loan insured by the Federal Housing Authority (FHA) that allows senior homeowners 62 years old or older to convert part of the equity in their homes into available cash... without having to sell the home, lose title, or make a monthly mortgage payment.          


For all GMFS residential home loan mortgage products, both the borrower and property must qualify according to the full product requirements and guidelines.

N/A” = Not Available.

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