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Prosperity Mortgage  offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide the type of loan you need
 
Conventional Loan Products
FHA
VA LOAN
ADJUSTABLE RATE MORTGAGES
Jumbo Loans
United States Department of Agriculture (USDA)

Rates last updated on Friday, April 07, 2017

Conventional Loan Products
Conventional Fixed-Rate loans have terms and conditions that follow the guidelines set by the agencies, Fannie Mae and Freddie Mac. These guidelines establish the maximum loan amount as well as borrower credit and income requirements, down payment, and suitable properties. Each year, Fannie Mae and Freddie Mac announce new conforming loan limits, which, for 2013 is $417,000 for one unit properties in the contiguous state and $625,000 in Hawaii and Alaska. (Check with a loan originator for loan limits in high cost areas - contiguous states: $625,500, Hawaii & Alaska: $938,250)

FHA
The Federal Housing Administration (FHA) is a Government agency that focuses on insuring private loans that are issued for new and existing housing, and loans that are approved for home repairs. The primary goal of the FHA is to help borrowers purchase a home they may not otherwise be able to finance based on the down payment requirements of most conventional loan programs.

VA LOAN
Veteran's Administration (VA) mortgage programs are Government insured home loans available to veterans and their families. This loan option allows military families to qualify for a home loan with fewer restrictions and little-to-no money down. Available to current military personnel, ex-military personnel or a surviving spouse.

ADJUSTABLE RATE MORTGAGES
Adjustable Rate Mortgages have an interest rate that can vary depending on the specific terms. ARMs generally offer a lower starting interest rate that is fixed for a period of time (1, 3, 5, 7 or 10 years), then the rate is subject to change annually for the life of the loan. This loan option is attractive to people planning to move or refinance within the initial fixed portion of the loan.

Jumbo Loans
Jumbo Loans exceed the "conforming" loan limit set annually by Fannie Mae and Freddie Mac, which, in most areas of the country is $417,000. Jumbo mortgage loans available for homebuyers financing large purchases or more expensive homes

United States Department of Agriculture (USDA)
United States Department of Agriculture (USDA) loans offer excellent opportunities for families or individuals to purchase a home in rural areas. A USDA loan is a great option for low-to-moderate income families looking for an affordable home loan with flexible financing requirements. USDA loans allow for 100% financing in designated areas.


What is renovation financing? Our renovation loans may help you finance a home and cover the cost of improvements ranging from basic repairs or upgrades to more expensive additions or rebuilding. Qualified customers can buy or refinance a home, plus finance needed improvements or repairs — all in one convenient transaction. The amount for which you may qualify is based on the expected value of your home after improvements are made. Work can begin after the loan has closed and must begin within 30 days of closing. Then you pay for the renovations gradually, over the entire term of your mortgage. The process is completed in five easy steps: 1.Find a property with your real estate agent and determine the improvements you would like to make. 2.Contact Licensed Contractors to get quotes for the eligible improvements. 3.Submit all information to your Renovation Mortgage Consultant. 4.A property appraiser will be utilized by us to determine the property’s after-improved value. 5.Proceed to the loan closing, and renovations may begin! A renovation loan may work for you. Owner-occupied homes only Foreclosured properties are eligible 1-4 unit properties are eligible 3.5% down payment is required (may be gifted from a family member or relative)



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 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 $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.