Loan Programs
The following is a partial list of programs offered by HalcyonFinance Company with a brief description of the key elements.
- CONVENTIONAL: Programs available for the borrower who needs
95% financing. 97% loans are available under specific limits.
- GOVERNMENT PROGRAMS (FHA/VA): Numerous loans are available
under these programs. Intended for the low/moderate income and veteran
borrowers. 100% financing or minimal down payment is available. Income
and loan amount limits do apply.
- 90% RATE OR TERM RE-FINANCING: For the customer wanting to
obtain a lower interest rate. Loans are based on a maximum of 90%
of appraised value.
- CONSTRUCTION/PERM: Offers a one time closing for those who
are building their homes themselves. During construction the loan
is at a floating rate, which is converted to a fixed or adjustable
rate after completion.
- DOWN PAYMENT ASSISTANCE: First time homebuyers who meet the
income requirements can qualify for the following: Mississippi Home
Corp. Bond Money, Down Payment Assistance, and Mortgage Credit Certificate.
- 100% RHCD: This program provides 100% financing for homebuyers
who have not owned a house in the past three years. HUD has limitations
on the loan amount due to geographical location. The loan amount can
be for 100% of the appraised value. Income limits do apply.
- SECOND HOME: A program for the homebuyer wishing to purchase
a vacation home. This purchase can be financed up to 90% depending
on the loan amount.
- INVESTOR/RENTAL PROPERTY: Buyers who are looking to generate
rental income by purchasing these types of properties. Multiple property
ownership is allowed under certain programs. Financing up to 90% is
available.
- NO INCOME VERIFICATION: This offers the self employed borrower
or special borrower who wish not to provide tax returns, P&L's,
or pay stubs to finance 80% on a refinance or 90% on a purchase.
- BALLOON/ARM'S: These programs are intended for the homebuyer
who feels they will only occupy the property for a short period of
time.
- NON-CONFORMING: For customers with bruised credit or debt
ratios up to 50%. Loans with LTV's of 90% and over $500,000 are available.
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Equal Housing Lender. © 2008 HalcyonFinance Company.