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| FIXED/ARM (Adjustable Rate Mortgage) |
| FHA/FHA 203k |
| USDA/Rural Housing |
| VA |
| Jumbo |
| MSHA |
| First Time Homebuyers/ Municipal Workers |
| Extended Lock Borrower |
| Interest Only Loans |
Rates last updated on Wednesday, November 16, 2011
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FIXED/ARM (Adjustable Rate Mortgage)
First-time homebuyer? ARMs provide lower initial rates, allowing buyers to purchase more house for their rate. Keep your payments down through lower rates affiliated with ARMs. Also interest-only payments are avaiable. Keep in mind that these loans aren't for everyone, and here at Monaghan Mortgage, it's our job to figure out what is best for you.
Term: 30 years
Maximum Amount: $1,000,000
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FHA/FHA 203k
Term: 30 years
Maximum Amount: $421,000
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USDA/Rural Housing
Term: 30 years
Maximum Amount: $417,000
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VA
Term: 30 years
Maximum Amount: $417,000
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Jumbo
Jumbo loans without the jumbo rate! Anything over $359,650.00 - $650,000.00 is considred a jumbo mortgage. By breaking your mortgage into two parts, with a first and secnd mortgage, we can offer great lower rates through conforming products. We can also offer incredible jumbo low-interest rates that will keep payments down!
Maximum Amount: $650,000
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MSHA
Term: 30 years
Maximum Amount: $417,000
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First Time Homebuyers/ Municipal Workers
This program is targeted to individuals who have not owned a home within the past three years. MSHA or Maine State housing Authority is one source we get our funding from. Homepossible is another program that help many people get into their new homesand is not as sensitive to income limits. It minimizes the amount of cash needed for a down payment and also helps, teachers, medical workers, police and fire responders to get affordable terms for their loan.
Term: 30 years
Maximum Amount: $417,000
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Extended Lock Borrower
Lock into today's rate for tomorrow's loan. Lock up to 180 days. (7/23) Seven (7) years fixed rate changing in year eight (8) and remaining fixed through the next 23 years. The comfortable rate of an ARM and the security of a fixed mortgage!
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Interest Only Loans
Interest -only ARM (Adjustable Rate Mortgage) and Fixed Loans. Available with 30-year fixed rates or 3/1, 5/1, and 7/1 Adjustable Rates, 0% Down Payment Option, Reduced Income Documentation Programs, Condos, & Investment Properties, and Jumbo Loans.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,001 with closing costs of $8,340. Your actual APR may be different depending upon these factors.
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