Conforming Mortgages - Standard 1st mortgage loans designed for the purchase or refinance of your home. Although there are many programs variations, most conforming mortgages require a minimum of 5% down. Rates are typically locked for
60 days.

FHA & VA Loans - Perfect for first time home buyers, members with low down payments or those with less than perfect credit. FHA loan highlights include down payments as low as 2 1/4% with sellers able to contribute up to 6% toward closing costs and prepayables. VA loans allow for 100% financing of the appraised value. Both programs require the house to be owner occupied.

Non-Conforming (damaged credit) - We regularly arrange 1st and 2nd mortgage funding for members with damaged credit. Rates are normally determined by a combination of the member's credit, income and equity in the home (down payment in the case of a purchase).

Home Equity Loans - The MorPAC Representative has investors that will lend up to 90% of the value of the member's home. Again, rates are determined by both credit and income.

Construction Loans - Construction loans can be arranged for those members that own their own land or are building in
a development. Rates and fees vary based on credit and income.

Investor Loans - Financing for the purchase or refinance of 1-4 unit investment properties. Good credit and 25% equity is required.

Low Down Payment 1st Mortgages - Loan product that allows up to 97% LTV. Primary Residence Purchases Only!
Single Family and Condos, with loans up to $417,000. These programs require good credit.

There are many other loan programs available!