Purchases or refinances, here's what you need to know.

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Qualified Property 

One - to four-family residential owner-occupied purchase money, refinances.

Max Loan to Value

Purchase - one-family 95% of sale price (two-family 85% of sale price) (three- to four-family 75% of sale price).

Refinance - single family up to 80% of appraised value as "Cash Out."

  • Two- to four-family up to 75% of appraised value as "Cash Out"
  • One-family - 90% of appraised value for "Limited Cash Out."
  • Two-family - 85% of appraised value for "Limited Cash Out."
  • Three- and four-family - 75% of appraised value for "Limited Cash Out."

Loan Amount 

Minimum - $35,000
Maximum - $647,200; $970,800 for high cost areas as designated by Fannie Mae*

*Jumbo loan amounts available to well-qualified borrowers. The interest rate is 0.25% higher than advertised rate

Term 

15 Years

Escrow Account 

Required when loan-to-value ratio is 80.01% or higher.
If less than 80% loan-to-value ratio, is based on credit worthiness.
PMI required when loan to value ratio is 80.01% or higher.

Payment Options 

Bi-weekly or Monthly

Interest Rate Change 

Rate remains the same for the life of the loan

Proof of home owner's insurance is required

Visions will not subordinate or agree to the assignment of any oil/gas/mineral rights lease to a third party.